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Marathon Gold Corp
Symbol	MOZ
Shares Issued	161,891,202
Close 2019-10-01	C$ 1.34
Market Cap	C$ 216,934,211
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Marathon Gold drills 29 m of 4.64 g/t Au at Valentine

2019-10-02 07:10 ET - News Release

Dr. Matthew Manson

MARATHON GOLD REPORTS NEW DRILL RESULTS FROM MARATHON DEPOSIT AT VALENTINE GOLD PROJECT, NL

Marathon Gold Corp. has released positive results from the ongoing infill drilling campaign at the Marathon deposit, part of the Valentine gold project in central Newfoundland. The new drilling continues to successfully demonstrate the occurrence and continuity of gold mineralization both along and across strike of the 1,500-metre-long Main zone within the Marathon deposit, as well as from surface to the base of the currently planned open pit, where mineralization remains open to depth. In particular, the latest results confirm significant new zones of gentle southwest-dipping, en echelon stacked quartz-tourmaline-pyrite-gold (QTP-Au) veining in areas of limited previous drilling within the southwestern area of the planned Marathon open pit. Highlights of the latest drilling include:

Main zone: MA-19-430 intersected 4.64 grams per tonne gold over 29.0 metres including 18.41 g/t Au over 3.0 metres and 9.00 g/t Au over 2.0 metres, and 2.08 g/t Au over 15.0 metres including 7.44 g/t Au over 2.0 metres.
Main zone: MA-19-434 intersected 2.36 g/t Au over 39.0 metres including 7.03 g/t Au over 6.0 metres, 17.03 g/t Au over 1.0 metres and 11.42 g/t Au over 1.0 metres, as well as 4.55 g/t Au over 9.0 metres including 8.34 g/t Au over 2.0 metres.
Main zone: MA-19-431 intersected 3.38 g/t Au over 29.0 metres including 16.37 g/t Au over 3.0 metres and 3.32 g/t Au over 3.0 metres.
Main zone: MA-19-429 intersected 2.22 g/t Au over 25.0 metres including 7.31 g/t Au over 4.0 metres and 4.24 g/t Au over 3.0 metres.
Main zone: MA-19-435 intersected 1.90 g/t Au over 26.0 metres including 7.42 g/t Au over 3.0 metres, as well as 9.27 g/t Au over 3.0 metres and 7.52 g/t Au over 3.0 metres.
Main zone: MA-19-413 intersected 2.33 g/t Au over 20.0 metres including 11.79 g/t Au over 2.0 metres, and MA-19-419 intersected 2.55 g/t Au over 12.0 metres including 7.33 g/t Au over 2.0 metres.
Main zone: MA-19-424 intersected 6.89 g/t Au over 3.0 metres, MA-19-425 intersected 5.34 g/t Au over 3.0 metres, MA-19-426 intersected 6.14 g/t Au over 4.0 metres and MA-19-427 intersected 5.33 g/t Au over 3.0 metres.
Main zone northeast: MA-19-418 intersected 3.72 g/t Au over 10.0 metres including 10.66 g/t Au over 3.0 metres, and 2.11 g/t Au over 14.0 metres including 6.36 g/t Au over 2.0 metres, MA-19-417 intersected 4.67 g/t Au over 5.0 metres, and MA-19-412 intersected 10.61 g/t Au over 3.0 metres.

The latest drilling has been oriented downward at a high angle through the en echelon stacked, shallowly southwest-dipping QTP-Au veins which form the dominant vein orientation within the subvertical Main zone corridor of the Marathon deposit. It represents infill drilling in areas currently classified as inferred mineral resources in the October, 2018, mineral resource estimate. Assays are pending for additional new drill holes which have also intersected significant QTP-Au veining in areas of limited previous drilling in the southwest Main zone corridor.

Three drill rigs are currently operating at the Marathon deposit. Based on the results achieved to date, additional drilling has been approved in the southwest extension area of the Marathon deposit, both infill and exploratory. This will bring the total metreage to be drilled at the Marathon and Leprechaun deposits in 2019 to approximately 60,000 metres. This extended program is expected to be completed by mid-October. Thereafter, two drill rigs will move on to complete a planned 7,000-metre exploration drilling campaign at the Sprite zone.

All drilling completed to the middle of October will be utilized in the upcoming mineral resource update for the Valentine gold project, expected to be completed in the fourth quarter of this year.

In addition to the exploration drilling, hydrogeology drilling and geotechnical test pitting programs will be completed in October, the results of which will be used in infrastructure design for the upcoming Valentine prefeasibility study scheduled for the second quarter of 2020.

 SIGNIFICANT

DDH                From

MA-19-412

MA-19-413

including

MA-19-416

MA-19-417

MA-19-418

including

including

MA-19-419

including

MA-19-420

MA-19-421 MA-19-422

MA-19-423

MA-19-424 MA-19-425

MA-19-426

MA-19-427

MA-19-429

including MA-19-430

including

including including

MA-19-431

including

MA-19-432

MA-19-433 MA-19-434

including including including

including

MA-19-435

including

* No significant of the Main zone.

ASSAY INTERVALS, MARATHON DEPOSIT, VALENTINE GOLD CAMP To Core length True thickness Gold (m) (m) (m) (m) (g/t) 26 29 3 2.9 10.61 101 105 4 3.8 1.20 227 230 3 2.7 1.49 296 316 20 18.0 2.33 305 307 2 1.8 11.79 340 343 3 2.7 2.51 109 112 3 2.7 2.09 126 129 3 2.7 1.12 196 200 4 3.6 1.07 285 288 3 2.7 2.27 260 263 3 2.9 1.34 270 273 3 2.9 1.26 277 280 3 2.9 1.38 290 295 5 4.8 4.67 10 13 3 2.6 0.95 43 46 3 2.6 1.22 144 154 10 8.5 3.72 150 153 3 2.6 10.66 164 167 3 2.6 2.68 172 186 14 11.9 2.11 179 181 2 1.7 6.36 206 209 3 2.6 1.01 109 112 3 2.7 1.52 171 183 12 10.8 2.55 175 177 2 1.8 7.33 197 200 3 2.7 1.61 104 107 3 2.9 3.32 117 120 3 2.9 2.09 250 253 3 2.9 2.32 16 19 3 2.9 1.11 31 34 3 2.4 2.95 39 45 6 4.8 2.02 118 121 3 2.4 2.60 236 239 3 2.9 1.89 262 266 4 3.8 2.52 300 306 6 5.7 2.44 323 326 3 2.9 2.33 300 303 3 2.9 6.89 23 26 3 2.6 5.34 51 54 3 2.6 2.54 164 167 3 2.6 3.12 63 67 4 3.8 6.14 71 74 3 2.9 1.26 12 15 3 2.9 5.33 85 90 5 4.8 1.79 205 208 3 2.9 2.45 137 141 4 3.6 1.55 156 159 3 2.7 1.99 187 190 3 2.7 4.24 204 207 3 2.7 1.05 215 219 4 3.6 2.03 282 307 25 22.5 2.22 299 303 4 3.6 7.31 18 21 3 2.7 1.67 101 104 3 2.7 3.35 113 116 3 2.7 2.04 146 161 15 13.5 2.08 159 161 2 1.8 7.44 195 198 3 2.7 2.40 210 213 3 2.7 2.13 270 299 29 26.1 4.64 274 276 2 1.8 9.00 281 284 3 2.7 18.41 358 361 3 2.7 2.04 52 56 4 3.8 1.48 72 75 3 2.9 1.41 89 92 3 2.9 1.43 152 155 3 2.9 2.96 235 238 3 2.9 1.77 243 272 29 27.6 3.38 253 256 3 2.9 16.37 298 301 3 2.9 3.32 324 327 3 2.9 3.00 44 47 3 2.7 1.46 59 62 3 2.7 1.22 151 154 3 2.7 3.03 188 192 4 3.6 2.07 11 14 3 2.7 2.73 57 60 3 2.6 3.21 91 94 3 2.6 1.07 122 125 3 2.6 2.86 139 178 39 33.2 2.36 139 140 1 0.9 11.42 164 170 6 5.1 7.03 177 178 1 0.9 17.03 282 285 3 2.6 2.52 312 321 9 7.7 4.55 312 314 2 1.7 8.34 421 424 3 2.6 4.35 37 40 3 2.9 1.76 60 68 8 7.6 1.56 85 88 3 2.9 2.02 106 109 3 2.9 9.27 117 143 26 24.7 1.90 128 131 3 2.9 7.42 160 164 4 3.8 4.41 189 192 3 2.9 7.52 intervals in MA-19-414, MA-19-415 and MA-19-428 drilled outside

Marathon utilizes Corebox for 3-D visualization of the company's drill results at the Valentine gold project.

Acknowledgments

Marathon acknowledges the financial support of the junior exploration assistance program, Department of Natural Resources, government of Newfoundland and Labrador.

Qualified person

Disclosure of a scientific or technical nature in this press release was prepared under the supervision of Sherry Dunsworth, MSc, PGeo (Newfoundland), the senior vice-president of exploration, a qualified person under National Instrument 43-101.

Quality assurance/quality control (QA/QC)

QA/QC protocols followed at the Valentine gold project include 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 atomic absorption 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 associated table as core lengths and estimated true thickness (80 per cent to 95 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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