Mr. Phillip Walford reports
MARATHON DEPOSIT DRILLING HITS IN MAIN ZONE CORRIDOR: 1.88 G/T AU OVER 225M WITH 4.87 G/T AU OVER 25M & 3.38 G/T AU OVER 25M VALENTINE LAKE GOLD CAMP, NEWFOUNDLAND
Marathon Gold Corp. has released very positive results from new drilling at the Marathon deposit, Valentine Lake gold camp, central Newfoundland. Additional infill drilling, down through the 75-to-100-metre-wide and more-than-500-to-700-metre-deep mineralized corridor of the Marathon deposit, has further confirmed the continuity of good gold grades throughout the corridor with 1.88 grams per tonne gold over 225 metres including 4.87 g/t Au over 25 metres and 3.38 g/t Au over 25 metres in MA-17-213. Drill holes drilled across the main mineralized corridor also intercepted numerous high-grade intervals including 7.21 g/t Au over seven metres in MA-17-201, 3.59 g/t Au over 18 metres in MA-17-206, 12.65 g/t Au over three metres in MA-17-207, 2.19 g/t Au over 22 metres in MA-17-204 and 4.04 g/t Au over seven metres in MA-17-209. Drilling toward the southwest end of the current resource pit shell also intersected significant mineralization with 8.46 g/t Au over five metres in MA-17-203, 3.44 g/t Au over three metres in MA-17-210 and 3.57 g/t Au over three metres in MA-17-208.
Marathon has now released the results of just 38 per cent of its planned 60,000-metre drill campaign. Over the next month, drilling at the Marathon deposit will have a threefold approach with steep, infill drilling focused on the upper open pit as well as underground regions of the deposit, stepout drilling toward the southwest along strike to further expand the open-pit, hanging and footwall drilling aimed at reducing strip ratio for the resource pit shell. As much of this drilling as possible will be included in the resource update for the property scheduled for the end of October or early November. The resource will form a base for the PEA planned for completion in the second quarter of 2018.
Drilling highlights:
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Drill hole MA-17-213, drilled subvertical down through the en-echelon stacked quartz-tourmaline-pyrite-gold (QTP) veining of the Marathon deposit main corridor, intersected 1.88 g/t Au over 242 metres including significant higher-grade intervals of 3.38 g/t Au over 25 metres, 4.87 g/t Au over 25 metres, 3.13 g/t Au over nine metres and 3.29 g/t Au over 13 metres.
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Drill hole MA-17-212, also drilled subvertical down through the en-echelon stacked quartz-tourmaline-pyrite-gold (QTP) veining of the Marathon deposit main corridor, intersected 1.98 g/t Au over 53 metres including 7.77 g/t Au over seven metres and 1.98 g/t Au over 22 metres with 9.49 g/t Au over two metres and 3.89 g/t Au over nine metres.
- Additional steep drill holes MA-17-201 and MA-17-207 intersected significant high-grade gold intercepts as these holes penetrated deeper crossing the main corridor with 7.21 g/t Au over seven metres with 23.34 g/t Au over two metres in MA-17-201 and 6.09 g/t Au over three metres, 4.81 g/t Au over four metres and 12.65 g/t Au over three metres in MA-17-207.
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Moderately inclined drill holes, designed to penetrate across the main corridor, thereby confirming width of the corridor, intersected 2.19 g/t Au over 22 metres including 7.48 g/t Au over three metres in MA-17-204, 3.59 g/t Au over 18 metres with 8.80 g/t Au over four metres in MA-17-206, 4.04 g/t Au over seven metres and 4.09 g/t Au over five metres in MA-17-209, and 11.88 g/t Au over 3.4 metres in MA-17-211.
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Drill holes collared along strike to the southwest continued to intersect significant mineralization including 8.46 g/t Au over five metres with 18.97 g/t Au over two metres in MA-17-203, 3.44 g/t Au over three metres and 2.24 g/t Au over three metres in MA-17-210, and 3.57 g/t Au over three metres in MA-17-208.
"Our successful drilling at the Marathon deposit continues to confirm the continuity of good gold grades throughout the main zone corridor and that we are discovering new mineralization," said Phillip Walford, president and chief executive officer of Marathon. "Robbert Borst, our manager for the PEA, is now focusing on the various tasks required for the PEA which will commence once the resource estimate is updated."
SIGNIFICANT FIRE ASSAY INTERVALS FROM DRILL HOLES MA-17-201 TO MA-17-214,
MARATHON DEPOSIT, VALENTINE LAKE GOLD CAMP
DDH From To Core length True thickness Gold Gold (cut)*
(m) (m) (m) (m) (g/t) (g/t)
MA-17-201 441 444 3 2.9 2.36
516 519 3 2.9 2.36
545 552 7 6.7 7.21
including 550 552 2 1.9 23.34
MA-17-203 235 240 5 4.0 8.46
including 238 240 2 1.6 18.97
MA-17-204 35 38 3 2.4 1.43
167 189 22 17.6 2.19
including 167 169 2 1.6 6.36
including 180 183 3 2.4 7.48
210 216 6 4.8 2.21
269 272 3 2.4 7.25
MA-17-205 103 106 3 2.1 1.39
MA-17-206 413 416 3 2.6 2.61
438 441 3 2.6 2.12
479 497 18 15.3 3.59
including 482 486 4 3.4 8.80
MA-17-207 314 317 3 2.9 6.09
350 354 4 3.8 4.81
386 389 3 2.9 12.65 11.31
424 427 3 2.9 6.00
MA-17-208 51 54 3 2.3 3.57
236 239 3 2.3 1.93
MA-17-209 402 406 4 3.2 6.00
419 426 7 5.6 4.04
442 447 5 4.0 4.09
454 460 6 4.8 3.65
MA-17-210 115 118 3 2.3 3.44
151 154 3 2.3 2.24
MA-17-211 4.6 8 3.4 2.4 11.88
MA-17-212 12 15 3 2.9 3.14
41 44 3 2.9 1.25
69 122 53 50.4 1.98 1.73
including 78 80 2 1.9 5.93
including 87 94 7 6.7 7.77 5.87
233 255 22 20.9 1.98
including 238 240 2 1.9 9.49
318 327 9 8.6 3.89
MA-17-213 17 242 225 213.8 1.88
including 17 42 25 23.8 3.38
including 46 51 5 4.8 3.03
including 66 75 9 8.6 3.13
including 90 94 4 3.8 3.04
including 113 126 13 12.4 3.29
including 171 196 25 23.8 4.87
including 217 225 8 7.6 3.42
276 306 30 28.5 1.53
including 290 295 5 4.8 4.63
MA-17-214 71 74 3 2.1 1.38
* Au cut-off 33 g/t Au (February, 2017, resource update).
Acknowledgments
Marathon acknowledges the financial support of the junior exploration assistance program, Department of Natural Resources, government of Newfoundland and Labrador.
Quality assurance/quality control
Sherry Dunsworth, MSc, PGeo, senior vice-president of exploration, Marathon's qualified person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon. Thorough QA/QC protocols are followed including the insertion of blanks and standards at regular intervals in each sample batch. Drill core is cut in half with one-half retained at site, the other half tagged and sent to Eastern Analytical Ltd. in Springdale, Nfld. All reported core samples were analyzed for Au by fire assay (30 grams) with AA finish. All samples above 0.10 g/t Au in economically interesting intervals are further assayed using metallic screen to mitigate the presence of coarse gold. Significant mineralized intervals are reported in the table as core lengths and estimated true thicknesses (75 per cent to 95 per cent of core length).
About Marathon Gold Corp.
Marathon is a gold exploration company rapidly advancing its 100-per-cent-owned Valentine Lake gold camp located in Newfoundland, one of the top mining jurisdictions in the world. The Valentine Lake gold camp currently hosts four near-surface, mainly pit-shell-constrained gold resources totalling 1,388,200 ounces gold at 1.91 g/t (measured and indicated) and 766,500 ounces gold at 2.24 g/t (inferred) (February, 2017).
We seek Safe Harbor.
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