Mr. Matt Manson reports
MARATHON GOLD REPORTS ADDITIONAL POSITIVE DRILL RESULTS FROM THE SPRITE CORRIDOR AT THE VALENTINE GOLD PROJECT
Marathon Gold Corp. has released additional drill results from recent exploration drilling at the Valentine gold project, central Newfoundland. These latest results represent fire assay data from 16 drill holes located in the high priority Berry zone area and northeastward along an 850-metre strike length toward the Frozen Ear Pond Road. These were the last exploration holes completed prior to the COVID-19-related closure of the exploration camp on March 14, 2020.
Highlights include:
- VL-20-806 intersected 8.06 grams per tonne gold over 14.0 metres, including 21.94 g/t Au over 3.0 metres and 13.61 g/t Au over 1.0 metre.
- VL-20-813 intersected 8.03 g/t Au over 12.0 metres, including 16.90 g/t Au over 2.0 metres and 36.11 g/t Au over 1.0 metre.
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VL-20-804 intersected 2.44 g/t Au over 24.0 metres, including 10.79 g/t Au over 3.0 metres.
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VL-20-815 intersected 1.79 g/t Au over 21.0 metres, including 6.05 g/t Au over 2.0 metres and 4.61 g/t Au over 2.0 metres, and 1.26 g/t Au over 18.0 metres, including 3.80 g/t Au over 2.0 metres, and 2.16 g/t Au over 7.0 metres, including 9.69 g/t Au over 1.0 metre.
- VL-20-803 intersected 13.32 g/t Au over 5.0 metres, including 31.90 g/t Au over 2.0 metres, and 2.58 g/t Au over 5.0 metres, and 2.26 g/t Au over 6.0 metres.
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VL-20-816 intersected 2.39 g/t Au over 11.0 metres, including 9.93 g/t Au over 1.0 metre and 1.18 g/t Au over 13.0 metres, and 1.64 g/t Au over 9.0 metres, including 7.11 g/t Au over 1.0 metre.
All quoted intersections comprise uncut gold assays in core lengths. All significant assay intervals are reported in the associated table.
Exploration drilling in the six-kilometre-long Sprite corridor between the Leprechaun and Marathon deposits is continuing to outline Main zone-type mineralization of a type characteristic of the Valentine gold project, with shallowly southwest-dipping, en echelon stacked quartz-tourmaline-pyrite-gold (QTP-Au) veins contained within steeply northwest-dipping envelopes in the hangingwall of the Valentine Lake shear zone. In the new Berry zone, the mineralized envelope appears bound on the northwest side by sheared mafic dikes, is up to 40 metres wide, extends from surface to a depth of over 200 metres and has now been drilled on multiple sections over more than 350 metres of strike extent.
Matt Manson, president and chief executive officer, commented: "We are again encouraged by the latest drill results from the Sprite corridor, and at the developing Berry zone in particular. When our camp was closed on March 14, 2020, we had completed 5,007 metres in 24 drill holes in the Sprite corridor. Our 2020 drill program includes a drill budget of up to 32,000 metres, comprising broad exploration stepouts from the Berry zone through the Frozen Ear Pond Road and ultimately to the limit of the Marathon deposit, which remains open on the southwestern side. This is a total strike length of approximately three kilometres of high exploration potential. Completing this plan will be our priority when we return to drilling. However, additional infill drilling at the Berry zone to confirm the continuity of mineralization and, potentially, the area's first mineral resource, is now warranted."
The latest 16 drill holes represent oblique drilling across the dip of the Main zone envelope toward the southeast (such as VL-20-803, 804, 806 and 813) or down the dip of the Main zone envelope steeply toward the northwest, such as VL-20-815, 817 and 817. Each of the 16 holes returned drill intersections of varying length with gold grades above the 0.3 g/t Au cut-off used in the January, 2020, mineral resource estimate for the project.
SIGNIFICANT ASSAY INTERVALS, SPRITE CORRIDOR, VALENTINE GOLD PROJECT
DDH From To Core length True thickness Gold Gold (cut)
(m) (m) (m) (m) (g/t) (g/t)
VL-20-802 93 96 3 2.1 1.37
VL-20-803 15 20 5 3.5 13.32 11.61
including 17 19 2 1.4 31.90 27.63
53 56 3 2.1 0.92
174 179 5 3.5 2.58
188 194 6 4.2 2.26
VL-20-804 178 182 4 2.8 0.83
223 247 24 16.8 2.44
including 238 241 3 2.1 10.79
VL-20-805 107 110 3 2.1 0.58
128 131 3 2.1 1.43
VL-20-806 13 20 7 4.9 1.27
26 29 3 2.1 1.51
155 169 14 9.8 8.06
including 155 158 3 2.1 21.94
including 167 168 1 0.7 13.61
VL-20-807 51 54 3 2.1 0.79
VL-20-808 71 74 3 2.1 0.97
148 154 6 4.2 2.97
including 150 151 1 0.7 8.36
VL-20-809 87 90 3 2.1 0.67
VL-20-810 151 154 3 2.1 12.41
VL-20-811 64 67 3 2.1 1.32
76 82 6 4.2 1.75
VL-20-812 12 15 3 2.1 2.28
107 110 3 2.1 1.23
191 194 3 2.1 2.00
VL-20-813 165 177 12 10.2 8.03
including 168 170 2 1.7 16.90
including 175 176 1 0.9 36.11
183 186 3 2.6 0.92
VL-20-814 76 80 4 3.8 1.06
VL-20-815 11 14 3 2.9 0.78
29 32 3 2.9 0.93
41 44 3 2.9 3.02
57 78 21 20.0 1.79
including 59 61 2 1.9 4.61
including 69 71 2 1.9 6.05
83 86 3 2.9 1.14
90 93 3 2.9 0.89
98 116 18 17.1 1.26
including 98 100 2 1.9 3.80
128 132 4 3.8 1.71
137 140 3 2.9 3.49
150 157 7 6.7 2.16
including 152 153 1 1.0 9.69
166 169 3 2.9 1.03
190 193 3 2.9 2.31
VL-20-816 61 65 4 3.6 1.11
83 94 11 9.9 2.39
including 87 88 1 0.9 9.93
137 140 3 2.7 0.97
161 174 13 11.7 1.18
181 185 4 3.6 1.28
202 211 9 8.1 1.64
including 202 203 1 0.9 7.11
216 219 3 2.7 1.06
230 234 4 3.6 1.06
258 261 3 2.7 1.08
VL-20-817 101 104 3 2.9 1.65
110 113 3 2.9 2.35
118 124 6 5.7 1.95
131 134 3 2.9 2.09
142 146 4 3.8 1.35
Qualified person
Disclosure of a scientific or technical nature in this news release was prepared under the supervision of Sherry Dunsworth, MSc, PGeo (Newfoundland), the senior vice-president of exploration and 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 AA finish. All samples above 0.30 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 attached table as core lengths and estimated true thickness (70 per cent to 95 per cent of core length).
Acknowledgments
Marathon acknowledges the financial support of the junior exploration assistance program, Department of Natural Resources, government of Newfoundland and Labrador.
About Marathon Gold Corp.
Marathon is a Toronto-based gold company rapidly advancing its 100-per-cent-owned Valentine gold project located in central Newfoundland, one of the top mining jurisdictions in the world. The Valentine gold project comprises a series of mineralized deposits along a 20-kilometre system of gold-bearing quartz-tourmaline-pyrite veins. The project is accessible by year-round road and is in close proximity to the provincial electrical grid. To date, four gold deposits at Valentine have been delineated, including the large Leprechaun and Marathon deposits.
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