Mr. Phillip Walford reports
LEPRECHAUN'S HIGH-GRADE CORE EXTEND FOR >600 METERS IN MAIN ZONE: NEW DDH'S INTERSECT 4.49 G/T AU OVER 41.0M, 4.49 G/T AU OVER 14.0M AND 10.33 G/T AU OVER 11.0M, VALENTINE GOLD CAMP, NL
Marathon Gold Corp. has had continued success from the infill drilling along the Main zone corridor of the Leprechaun deposit. These drill holes, as well as the previously released 2019 drill holes collared along the upper edge of the Main zone corridor, are part of the series of planned infill drill holes that will cover a more-than-800-metre strike length of the Main zone corridor. These drill holes are designed to penetrate down through the shallow southwest-dipping, stacked gold-bearing QTP (quartz-tourmaline-pyrite) veins which form the dominant vein orientation within the Main zone corridor of the Leprechaun deposit, providing increased width to the Main zone corridor and increased continuity the high-grade mineralization extending from surface to the bottom of the open pit and beyond into potential future underground resource development. The current drilling program is designed to both further confirm the geological model for the Leprechaun deposit and to continue to upgrade inferred resource material into the measured and indicated resource categories.
"The new drill results continue the success we have had with our Leprechaun drilling program. Main zone (MZ) intersections continued to expand the higher-grade mineralization along much of the strike length of the Leprechaun deposit and drilling from the hangingwall has confirmed mineralization away from the Main zone that will help to reduce the strip ratio," said Phillip Walford, president and chief executive officer of Marathon Gold. "The drilling is now complete at Leprechaun and resources estimation for Leprechaun is expected to be complete in September using all the new drill results."
Drilling highlights
Leprechaun deposit infill drilling along the Main zone of the deposit continues to intersect new high-grade gold intervals with abundant visible gold and now delineates a high-grade core area of the Main zone that extends for more than 600 metres along strike. The Main zone corridor of the Leprechaun deposit consists of dominantly shallow southwest-dipping en-echelon stacked QTP-Au (quartz-tourmaline-pyrite-gold) veins within an enveloping surface that dips 65 degrees to the northwest, extends along strike for more than 950 metres, has a true width ranging from 30 to 120 metres, and extends from surface to more than 300 m depth, to the bottom of the open pit and beyond. The new drilling along the Main zone is orientated downward at high angle to and through the shallow southwest-dipping en-echelon stacked QTP-Au veining and verifies the continuity of the high-grade gold zone from surface to depths greater than 300 metres, a fact particularly significant in areas of limited previous drilling along the northeastern portion of the Main zone gold corridor:
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Main zone: VL-19-719 intersected 4.49 grams per tonne gold over 41.0 metres including 23.04 g/t Au over 2.0 metres, 15.57 g/t Au over 2.0 metres and 10.78 g/t Au over two metres, 10.33 g/t Au over 11.0 metres including 22.04 g/t Au over 5.0 metres, and 3.28 g/t Au over 21.0 metres including 11.56 g/t Au over 4.0 metres. This hole was drilled parallel and flanking drill hole VL-19-711, assisting in further defining the outer margin of the high-grade Main zone.
- Main zone: VL-19-725 intersected 3.20 g/t Au over 16.0 metres including 10.62 g/t Au over 2.0 metres and 5.52 g/t Au over 2.0 metres, as well as 2.57 g/t Au over 10.0 metres near surface.
- Main zone: VL-19-722 intersected 6.61 g/t Au over 8.0 metres including 25.31 g/t Au over 2.0 metres and 2.23 g/t Au over 24.0 metres.
- Main zone: VL-19-717 intersected 3.32 g/t Au over 17.0 metres including 17.31 g/t Au over 2.0 metres, as well as 3.32 g/t Au over 8.0 metres and 2.60 g/t Au over 9.0 metres.
- Main zone: VL-19-727 intersected 4.49 g/t Au over 14.0 metres including 12.45 g/t Au over 4.0 metres as well as 3.53 g/t Au over 4.0 metres.
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Hangingwall DDHs, drilled toward the southeast, intersected significant gold mineralization in both the hangingwall and at deeper levels of the Main zone corridor including 2.02 g/t Au over 26.0 metres with 6.22 g/t Au over 3.0 metres in VL-19-719 and 5.60 g/t Au over 6.0 metres in VL-19-721.
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The high-grade gold core of the Main zone corridor of the Leprechaun deposit now extends continuously for more than 600 metres along strike, extends from surface to a depth of more than 300 metres and has a true width that ranges from 30 metres to more than 100 metres. Additional planned drilling is expected to increase the strike length of the high-grade core of the Main zone corridor toward both the northeast and southwest.
- The 2019 drilling is completed at the Leprechaun deposit with assays outstanding for VL-19-728 to VL-19-747. The three drill rigs have moved to the Marathon deposit where a 17,000-metre infill and stepout drilling program will be completed before the drills move on to complete a 7,000-metre exploration drilling campaign at the Sprite zone in fall 2019.
- A 2,250-metre HQ core size geotechnical drilling program is now under way with the fourth drill rig currently drilling in the Marathon deposit. This geotechnical drilling program is designed to test the open-pit wall strength at both the Leprechaun and Marathon deposits. This work is being completed in advance of the PFS on schedule for release in the first quarter of 2020.
SIGNIFICANT ASSAY INTERVALS, LEPRECHAUN DEPOSIT, VALENTINE GOLD CAMP
DDH From To Core length True thickness Gold Gold (cut)
(m) (m) (m) (m) (g/t) (g/t)
VL-19-716 36 42 6 5.1 1.19
256 267 11 9.35 1.37
VL-19-717 51 58 7 5.95 2.25
64 67 3 2.55 1.09
80 97 17 14.45 3.32
including 86 88 2 1.7 17.31
104 107 3 2.55 1.21
112 121 9 7.65 2.60
127 135 8 6.8 3.32
163 167 4 3.4 2.12
173 176 3 2.55 2.79
189 193 4 3.4 1.28
216 221 5 4.25 3.34
VL-19-718 119 123 4 3.4 3.20
145 148 3 2.55 1.13
277 281 4 3.4 2.63
325 351 26 22.1 2.02
including 330 333 3 2.55 6.22
VL-19-719 10 31 21 17.85 3.28
including 14 18 4 3.4 11.56
90 93 3 2.55 1.13
99 140 41 34.85 4.49
including 110 112 2 1.7 10.78
including 117 119 2 1.7 23.04
including 123 125 2 1.7 15.57
150 153 3 2.55 1.52
164 175 11 9.35 10.33 9.48
including 164 169 5 4.25 22.04 20.18
180 183 3 2.55 1.30
VL-19-720 29 32 3 2.4 3.93
38 41 3 2.4 1.69
44 47 3 2.4 1.20
60 63 3 2.4 1.42
107 110 3 2.4 1.15
171 174 3 2.4 1.37
190 193 3 2.4 4.43
VL-19-721 255 258 3 2.55 1.77
384 387 3 2.55 7.66
396 402 6 5.1 5.60
VL-19-722 34 37 3 2.4 1.97
55 58 3 2.4 1.64
72 96 24 19.2 2.23
including 88 89 1 0.8 9.54
102 105 3 2.4 1.26
126 129 3 2.4 1.14
137 140 3 2.4 1.06
155 158 3 2.4 1.21
198 201 3 2.4 3.41
212 220 8 6.4 6.61 6.46
including 218 220 2 1.6 25.31 24.72
267 274 7 5.6 3.34
VL-19-723 29 32 3 2.1 4.37
66 69 3 2.1 2.67
VL-19-724 139 144 5 3.5 2.86
159 162 3 2.1 1.10
171 175 4 2.8 3.25
273 277 4 2.8 2.90
VL-19-725 7 10 3 2.7 1.24
16 26 10 9 2.57
44 47 3 2.7 1.89
55 61 6 5.4 1.81
65 68 3 2.7 1.45
91 99 8 7.2 1.68
107 123 16 14.4 3.20
including 117 119 2 1.8 10.62
including 121 123 2 1.8 5.52
159 163 4 3.6 8.31
167 170 3 2.7 1.32
185 189 4 3.6 2.86
242 245 3 2.7 2.51
VL-19-727 87 91 4 3.2 3.53
95 98 3 2.4 3.24
116 119 3 2.4 1.32
126 140 14 11.2 4.49
including 133 137 4 3.2 12.45
VL-19-728 45 50 5 4 5.18
63 66 3 2.4 1.55
78 81 3 2.4 2.34
86 96 10 8 1.96
101 104 3 2.4 2.62
110 115 5 4 1.94
132 135 3 2.4 4.33
144 147 3 2.4 1.57
157 163 6 4.8 2.27
185 198 13 10.4 1.91
including 193 195 2 1.6 4.47
No significant intervals in HW drill hole VL-19-726.
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 g) 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 thickness is 80 per cent to 90 per cent of core length).
About Marathon Gold Corp.
Marathon is a Toronto-based gold company rapidly advancing its 100-per-cent-owned Valentine gold camp located in Newfoundland and Labrador, one of the top mining jurisdictions in the world. Marathon has confirmed the feasibility of the Valentine Gold Camp, which currently hosts four near-surface, mainly pit-shell constrained, deposits with measured resources totalling 1,166,500 ounces of gold at 2.18 grams per tonne, indicated resources totalling 1.524,900 ounces of gold at 1.66 g/t and inferred resources totalling 1,531,600 ounces of gold at 1.77 g/t.
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