Mr. Phillip Walford reports
MARATHON DEPOSIT DRILLING CONTINUES SUCCESS WITH 3.92 G/T AU OVER 75 METERS AND 3.84 G/T AU OVER 60 METERS, VALENTINE LAKE GOLD CAMP
Marathon Gold Corp. has released results of new drill holes from the 2017 winter drilling campaign at the Marathon deposit, Valentine Lake gold camp. Best intercepts included 3.92 grams per tonne gold (uncut) over 75.0 metres with 9.46 g/t Au over 5.0 m and 33.39 g/t Au (uncut) over 5.0 m in MA-17-160, and 3.84 g/t Au (uncut) over 60.0 m with 11.90 g/t (uncut) over 9.0 m in MA-17-161.
The Marathon deposit has a current well-defined strike length of over 550 m, has been traced to depth more than 500 m, and is open both along strike and to depth. The subvertical and 50 to 100 m wide main mineralized corridor of the Marathon deposit consists of tightly spaced and gently southwest-dipping arrays of en echelon stacked quartz-tourmaline-pyrite-gold (QTP) veining. The new near-vertical drill holes MA-17-160 and MA-17-161, as well as previously released near-vertical drill holes MA-17-158 and MA-17-159, were designed to penetrate from surface to as much as 500 m depth through these stacked, flat laying, en echelon quartz-tourmaline-pyrite-gold bearing vein arrays, thus proving the continuity of the gold mineralization both vertically as well as along strike through the Marathon deposit. The geometry of the gently dipping and vertically stacked QTP veining is analogous to the stacking of packets of cards within a deck of cards that are separated by small zones of more weakly gold mineralized rock. This style of gold veining is common to orogenic gold systems, such as the Val d'Or district, Quebec.
These latest excellent drill results will be incorporated into the upcoming resource update for the Marathon deposit which is expected to be released by the end of February, 2017. A second resource update, expected to be completed later this year, will be propertywide at the Valentine Lake gold camp. Drilling with two rigs now continues around the clock at the Marathon deposit.
Highlights
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Best intercepts in MA-17-160 include 3.92 g/t Au (uncut) over 75.0 m with 9.46 g/t Au over 5.0 m and 33.39 g/t Au (uncut) over 5.0 m, as well as 2.37 g/t Au over 18 m with 7.78 g/t Au over 4.0 m, 2.75 g/t Au over 17.0 m with 3.49 g/t Au over 10.0 m and 2.62 g/t Au over 15.0 m with 5.62 g/t Au over 3.0 m.
- Best intercepts in MA-17-161 include 3.84 g/t Au (uncut) over 60.0 m with 6.17 g/t Au over 4.0 m and 11.90 g/t (uncut) over 9.0 m, as well as 2.41 g/t Au over 22.0 m with 4.68 g/t Au over 6.0 m and 2.97 g/t Au over 7.0 m.
- Near-vertical infill drill holes MA-17-160 and MA-17-161, as well as previously released MA-17-158 and MA-17-159, collared within the core of the Marathon mineralized corridor penetrate normal (90 degrees) to and down through the gentle southwest-dipping en echelon stacked QTP veining of the Marathon mineralized corridor. These four near-vertical drill holes successfully demonstrate the vertical continuity of the strong gold mineralization from near surface to more than 500 m of depth in the Marathon deposit.
- The 50 to 100 m wide (true thickness), subvertical mineralized corridor of the Marathon deposit has a current well-defined strike length of over 550 m, extends to depth for more than 500 m, and is open both along strike and to depth. The alteration and mineralized corridor of the Marathon deposit, including the 2015 open-pit resource shell, now extends northeast-southwest along strike for at least 1.7 kilometres. Detailed drilling has covering only 30 per cent of that current 1.7-kilometre strike length. Future drilling will focus on expanding the Marathon deposit both along strike and to depth.
"We are very excited by the continued success of our Marathon deposit drilling which is proving up our model of a subvertical, 50 to 100 m wide mineralized corridor composed of close-stacked and shallow southwest-dipping quartz-tourmaline-pyrite-gold vein arrays. The new drilling has intersected consistent good open-pit and underground minable gold grades to more than 500 m vertical depth. Our main goal at the Marathon deposit is expanding the mineralized corridor further to the southwest along strike this year," said Phillip Walford, president and chief executive officer of Marathon. "The aggressive 2017 winter drilling campaign continues as we look forward to the release of the Marathon deposit resource update in later February, 2017."
MARATHON DRILL RESULTS
DDH From To Core length True width Gold Gold (cut)
(m) (m) (m) (m) (g/t) (g/t)
MA-17-160 89 92 3 2.9 1.41
134 209 75 71.3 3.92 2.29
including 138 140 2 1.9 6.43
including 160 165 5 4.8 9.46
including 183 188 5 4.8 33.39 8.96
including 203 205 2 1.9 6.26
218 236 18 17.1 2.37
including 227 231 4 3.8 7.78
312 329 17 16.2 2.75
including 326 329 3 2.9 6.67
337 340 3 2.9 1.71
346 349 3 2.9 3.78
371 381 10 9.5 3.49
407 410 3 2.9 4.92
432 437 5 4.8 3.50
458 463 5 4.8 4.05
484 499 15 14.3 2.62
including 489 492 3 2.9 5.62
including 494 496 2 1.9 5.22
MA-17-161 73 83 10 9.5 2.75
including 78 81 3 2.9 6.84
95 155 60 57.0 3.84 2.78
including 102 106 4 3.8 6.17
including 110 119 9 8.6 11.90 6.21
including 126 127 1 1.0 44.84 33.00
including 154 155 1 1.0 13.56
245 248 3 2.9 1.51
272 294 22 20.9 2.41
including 276 282 6 5.7 4.68
including 285 286 1 1.0 4.58
303 310 7 6.7 2.97
including 303 305 2 1.9 4.94
including 309 310 1 1.0 8.17
All of the samples were fire assayed at Eastern Analytical Laboratory Ltd. in Springdale, Nfld.
Marathon Gold acknowledges the financial support of the JEA program, Department of Natural Resources, government of Newfoundland and Labrador. The Research and Development Corp. of Newfoundland and Labrador has granted approximately 75 per cent of the costs of the current metallurgical program to Marathon Gold and the company appreciates this support.
Sherry Dunsworth, MSc, PGeo, vice-president of exploration, Marathon's qualified person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon. All core samples were collected using established quality assurance/quality control protocols including insertion of blanks, standards and duplicates at regular intervals in each sample batch. All reported core samples were analyzed for Au by fire assay (30 grams) with AA finish at Eastern Analytical, Springdale, Nfld. Significant mineralized intervals are reported in the table as core lengths and estimated true thicknesses (95 per cent of core length).
About Marathon Gold
Corp.
Marathon Gold is a gold exploration company rapidly advancing its 100-per-cent-owned Valentine Lake gold camp located in Newfoundland. The Valentine Lake property currently hosts four near-surface, mainly pit shell constrained, gold resources totalling 1,060,100 ounces gold at 2.20 g/t (measured and indicated) and 200,000 ounces gold at 2.85 g/t (inferred) (April, 2015).
We seek Safe Harbor.
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