00:51:07 EST Tue 12 Nov 2019
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Marathon Gold Corp
Symbol MOZ
Shares Issued 146,013,352
Close 2018-03-22 C$ 0.95
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Marathon Gold drills 13 m of 18.66 g/t Au at Valentine

2018-03-22 07:15 ET - News Release

Mr. Phillip Walford reports

MARATHON DRILLING HITS HIGH-GRADE ZONE AT MARATHON DEPOSIT: 18.66 G/T AU OVER 13 METERS WITH 70.66 G/T AU OVER 2 METERS, VALENTINE LAKE GOLD CAMP, NEWFOUNDLAND

Marathon Gold Corp. has released drill results at the company's 100-per-cent-owned Valentine Lake gold camp, central Newfoundland. The deep targeted infill drill hole MA-18-282 discovered one of the thickest and highest-grade gold intervals found to date within the Marathon deposit. This new mineralization, as well as gold found in other new drill holes, is expected to add significant ounces of gold to the next resource update.

"The success of new drilling at the Marathon deposit is very exciting as we continue to penetrate high-grade gold both along strike and to greater depths. This deposit has grown to be the largest discovered to date at the Valentine Lake gold camp and much more drilling is planned. The high-grade gold intersected in hole MA-18-282 clearly demonstrating the potential for good grades at depth where there are not a lot of drill holes yet," said Phillip Walford, president and chief executive officer. "The widely spaced, shallow drilling in the bog near Sprite is turning up mineralization in every hole so far and will provide targets for follow-up drilling in the next round of drilling after spring breakup. Our PEA remains on schedule for release by mid-May."

           SIGNIFICANT ASSAY INTERVALS, MARATHON DEPOSIT, VALENTINE LAKE GOLD CAMP
                                                                                 
Hole          From (m)    To (m)  Core length (m)  True width (m) Gold (g/t)   Gold (g/t, cut)*

MA-18-277          72        76                4             2.8       2.34
including          75        75                1             0.7       7.80
MA-18-279         121       124                3             2.3       1.98
                  152       162               10             7.5       1.77
including         156       158                2             1.5       5.24
                  179       182                3             2.3       2.76
MA-18-280         272       276                4             3.2       3.53
including         275       276                1             0.8       7.94
                  308       327               19            15.2       2.56
including         308       310                2             1.6       5.44
including         324       327                3             2.4       7.83
                  378       381                3             2.4       7.35
MA-18-281         139       142                3             2.3       1.23
                  408       411                3             2.3       2.29
                  451       454                3             2.3       2.16
MA-18-282          36        39                3             2.6       1.57
                  153       156                3             2.6       2.86
                  286       289                3             2.6       3.40
                  379       382                3             2.6      13.55
                  473       486               13            11.1      18.66             13.77
including         473       476                3             2.6      27.95             23.86
including         481       483                2             1.7      70.66             45.00
                  517       520                3             2.6       1.76
                  535       538                3             2.6       2.31
                  581       584                3             2.6       2.69
                  589       592                3             2.6       6.46
                  634       637                3             2.6       6.95
                  692       695                3             2.6       3.97
                 
No significant assays in MA-18-278.
Fire assays cut to 45 grams per tonne gold.

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 are analyzed for Au by fire assay (30 grams) with AA finish (Au circuit ISO 17025 accredited). 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 thickness (75 to 80 per cent of core length).

About Marathon Gold Corp.

Marathon is 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, deposits with measured and indicated resources totalling 1,846,500 ounces of gold at 1.88 grams per tonne and inferred resources totalling 1,011,700 ounces of gold at 1.65 g/t.

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