Dr. Matthew Manson reports
MARATHON GOLD REPORTS ADDITIONAL DRILL RESULTS FROM MARATHON DEPOSIT AT VALENTINE GOLD PROJECT, NL
Marathon Gold Corp. has released an additional tranche of consistent and positive results from the continuing infill drilling campaign at the Marathon deposit, part of the Valentine gold project in central Newfoundland. The new drilling continues to delineate significant new zones of 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:
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Main zone: MA-19-450 intersected 3.99 grams per tonne gold over 29.0 metres including 20.76 g/t Au over 1.0 metre and 65.15 g/t Au over 1.0 metre, and 7.52 g/t Au over 3.0 metres.
- Main zone: MA-19-448 intersected 3.94 g/t Au over 20.0 metres including 20.35 g/t Au over 2.0 metres and 5.45 g/t Au over 3.0 metres.
- Main zone: MA-19-442 intersected 2.17 g/t Au over 52.0 metres including 7.14 g/t Au over 5.0 metres, 20.34 g/t Au over 1.0 metre and 16.52 g/t Au over 1.0 metre.
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Main zone: MA-19-443 intersected 2.25 g/t Au over 18.0 metres including 22.12 g/t Au over 1.0 metre, as well as 3.08 g/t Au over 3.0 metres and 2.94 g/t Au over 3.0 metres.
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Main zone: MA-19-444 intersected 2.76 g/t Au over 6.0 metres including 66.0 g/t Au over 2.0 metres.
- Main zone: MA-19-446 intersected 9.99 g/t Au over 5.0 metres including 18.69 g/t Au over 2.0 metres.
- Main zone/footwall zone: MA-19-447 intersected 4.85 g/t Au over 9.0 metres including 13.50 g/t Au over 2.0 metres, as well as 19.23 g/t Au over 3.0 metres.
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Main zone/hangingwall zone: MA-19-445 intersected 2.17 g/t Au over 10.0 metres, including 8.85 g/t Au over 2.0 metres as well as 2.05 g/t Au over 3.0 metres.
These latest drill results represent a continuation of an infill drill program in the southwest extension area of the 1,500-metre-long main zone within the Marathon deposit. This is an area of either no previous drilling or material currently classified as inferred mineral resources in the October, 2018, mineral resource estimate. The main zone represents a mineralized corridor of between 100 and 125 m width, extending from surface to more than 300 m depth, and comprising southwest-dipping, echelon stacked QTP-Au veining. Drilling is oriented downward at a high-angle through the dominant shallowly dipping vein orientation. Assays are pending for further drill holes that have intersected additional QTP-Au veining in this area.
Drilling in the Marathon deposit will be completed this week. Thereafter, three drill rigs will move on to complete a planned 7,000-metre exploration drilling campaign at the Sprite zone. The approximately 60,000 metres of Marathon and Leprechaun infill drilling completed in 2019 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 infill drilling, hydrogeology drilling and preliminary geotechnical programs were recently completed, the results of which will be used in the ongoing Valentine environmental assessment process and prefeasibility study.
SIGNIFICANT ASSAY INTERVALS, MARATHON DEPOSIT, VALENTINE GOLD CAMP
DDH From To Core length True thickness Gold Gold (cut)
(m) (m) (m) (m) (g/t) (g/t)
MA-19-436 96 100 4 3.8 2.81
MA-19-438 72 75 3 2.9 1.52
110 113 3 2.9 1.07
131 134 3 2.9 1.42
164 169 5 4.8 1.22
230 236 6 5.7 1.61
MA-19-440 73 76 3 2.9 2.02
88 91 3 2.9 1.97
113 116 3 2.9 1.56
123 126 3 2.9 1.42
143 146 3 2.9 1.21
MA-19-442 11 15 4 3.8 2.61
118 122 4 3.8 1.89
124 127 3 2.9 4.84
138 141 3 2.9 3.31
147 154 7 6.7 1.71
168 220 52 49.4 2.17
including 174 175 1 1.0 20.34
including 179 180 1 1.0 16.52
including 215 220 5 4.8 7.14
234 238 4 3.8 3.30
MA-19-443 36 41 5 4.8 1.01
66 69 3 2.9 1.36
72 90 18 17.1 2.25
including 77 78 1 1.0 22.12
102 105 3 2.9 1.47
135 138 3 2.9 2.03
158 163 5 4.8 1.21
189 195 6 5.7 1.10
199 202 3 2.9 1.75
214 217 3 2.9 2.94
230 233 3 2.9 1.53
287 290 3 2.9 1.42
296 300 4 3.8 3.08
MA-19-444 38 41 3 2.7 2.24
64 68 4 3.6 3.72
232 238 6 5.4 2.76
including 232 234 2 1.8 6.60
315 318 3 2.7 2.75
MA-19-445 13 23 10 8.5 2.17
including 13 15 2 1.7 8.85
170 173 3 2.6 2.05
176 184 8 6.8 1.75
239 242 3 2.6 1.90
MA-19-446 37 40 3 2.9 1.04
65 74 9 8.6 1.08
81 84 3 2.9 1.36
90 93 3 2.9 2.72
101 104 3 2.9 2.24
124 127 3 2.9 2.18
189 194 5 4.8 9.99
including 191 193 2 1.9 18.69
MA-19-447 53 57 4 3.8 2.24
77 80 3 2.9 4.57
88 91 3 2.9 2.73
134 143 9 8.6 4.85
including 141 143 2 1.9 13.50
242 245 3 2.9 19.23 15.04
MA-19-448 60 63 3 2.9 1.27
124 127 3 2.9 5.45
146 166 20 19.0 3.94
including 152 154 2 1.9 20.35
249 252 3 2.9 2.67
MA-19-449 68 71 3 2.9 1.48
76 79 3 2.9 1.45
147 150 3 2.9 1.33
159 162 3 2.9 1.55
MA-19-450 57 61 4 3.8 2.82
81 110 29 27.6 3.99 3.30
including 93 94 1 1.0 20.76
including 103 104 1 1.0 65.15 45.00
117 121 4 3.8 2.51
149 158 9 8.6 1.51
193 196 3 2.9 1.05
307 310 3 2.9 7.52
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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