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Marathon Gold Corp
Symbol C : MOZ
Shares Issued 140,778,352
Close 2017-09-06 C$ 1.00
Recent Sedar Documents

Marathon Gold drills 28 m of 3.39 g/t Au at Valentine

2017-09-07 07:09 ET - News Release

Mr. Phillip Walford reports

MARATHON DRILLS DEEPER HIGH-GRADES AT THE MARATHON DEPOSIT: 3.39 G/T AU OVER 28M WITH 16.71 G/T AU OVER 5M VALENTINE LAKE GOLDCAMP, NEWFOUNDLAND

Marathon Gold Corp. has released continued positive drill results from the Marathon deposit, Valentine Lake gold camp, central Newfoundland. New infill drilling further confirms the continuity of good gold grades through the 75-to-100-metre-wide and more-than-500-to-700-metre-deep mineralized corridor of the Marathon deposit, further enhancing the upgrading of inferred resources to measured and indicated resource categories. Drilling down the east edge of the main mineralized corridor intersected high-grade gold values including 3.45 grams per tonne gold over 20 metres with 5.60 g/t Au over nine metres and 12.85 g/t Au over six metres in MA-17-189, and 2.85 g/t Au over 15 metres with 30.72 g/t Au over one metre in MA-17-190. Steep drilling across the main mineralized corridor intersected 1.73 g/t Au over 43 metres with 4.36 g/t Au over six metres, 2.11 g/t Au over 19 metres and 4.72 g/t Au over five metres in MA-17-196, and 3.39 g/t Au over 28 metres with 16.71 g/t Au over five metres in MA-17-199.

Four drill rigs are operating 24/seven at the Marathon deposit as work continues on expanding the open-pit resource along strike to the southwest, deepening the open-pit resource in the central portion of the deposit and expanding the underground resource. Marathon has now completed 31 per cent, including yet-to-be-released results from drilling at the Leprechaun deposit, of its planned 60,000-metre drill campaign. Over the next month drilling at the Marathon deposit will involve a combination of exploration and infill holes. Longer drill holes will be designed for infill in the upper portion of the hole and exploration in the deeper sections. Some planned holes will explore along strike to the southwest to expand the pit shell while others will explore for additional mineralization in the hangingwall and footwall of the resource pit and reduce the strip ratio.

Drilling highlights:

  • Drill holes MA-17-196 and MA-17-199, drilled steeply downward across the main mineralized corridor of the Marathon deposit, intersected significant gold intercepts including 3.39 g/t Au over 28 metres with 16.71 g/t Au over five metres in MA-17-199, and 1.73 g/t Au over 43 metres with 4.36 g/t Au over six metres and 2.11 g/t Au over 19 metres with 5.48 g/t Au over two metres in MA-17-196.
  • Drill holes MA-17-189 and MA-17-190, drilled subvertical down along the east margin of the main mineralized corridor of the Marathon deposit, succeeded in intersecting high-grade gold in en-echelon stacked quartz tourmaline pyrite-gold (QTP) veining with 3.45 g/t Au over 20 metres including 5.60 g/t Au over nine metres, 12.85 g/t Au over six metres, and 8.07 g/t Au over five metres in MA-17-189; and 2.85 g/t Au over 15 metres including 30.72 g/t Au over one metre in MA-17-190.
  • Drill holes MA-17-189, MA-17-190, MA-17-196 and MA-17-199 confirm the 75- to 100-metre width and continuity of consistent good to high gold grades down through the main mineralized corridor of the Marathon deposit. These intercepts will add significantly to the Marathon deposit resource and the upgrading of existing resources at the Marathon deposit from the inferred to measured and indicated resource categories.
  • Shallow infill drilling between previous widely spaced exploration drill holes in the southwestern end of the Marathon deposit, succeeded in intersecting en-echelon, shallow southwest-dipping QTP veining with intercepts of 4.65 g/t Au over three metres in MA-17-198 and 2.56 g/t Au over three metres in MA-17-192.

"The ongoing drilling at the Marathon deposit continues to succeed in confirming the continuity of good open-pit and underground gold grades throughout the main mineralized corridor. These new gold intercepts will further enhance the growth of the gold resource at the Marathon deposit as we advance to a PEA," said Phillip Walford, president and chief executive officer of Marathon. "Four drill rigs are operating 24/seven and we anticipate releasing more infill and exploration results over the coming months as we continue building both shallow open-pit and deeper underground resources at the Valentine Lake gold camp."

  
        SIGNIFICANT FIRE ASSAY INTERVALS FROM DRILL HOLES MA-17-189, 190,   
    192, 194, 196 TO 199 AND 201, MARATHON DEPOSIT, VALENTINE LAKE GOLD CAMP

DDH               From          To   Core length   True thickness    Gold    Gold (cut)
No.                (m)         (m)           (m)              (m)   (g/t)         (g/t)

MA-17-189          190         193             3              2.9    6.96
                   320         325             5              4.8    3.70
                   342         345             3              2.9    3.92
                   455         460             5              4.8    8.07
including          456         457             1              1.0   30.76
                   513         533            20             19.0    3.45
including          513         522             9              8.6    5.60
                   557         561             4              3.8    4.13
                   732         738             6              5.7   12.85          9.49
including          736         737             1              1.0   65.18         45.00
MA-17-190          252         267            15             12.0    2.85
including          266         267             1              0.8   30.72
                   317         320             3              2.4    1.84
                   341         344             3              2.4    2.03
                   359         364             3              2.4    1.48
                   393         396             3              2.4    1.71
MA-17-192           36          39             3              2.1    2.56
MA-17-194          372         375             3              2.6    2.29
MA-17-196          264         307            43             36.6    1.73
including          264         265             1              0.9    5.59
including          283         289             6              5.1    4.36
including          305         307             2              1.7    6.22
                   322         341            19             16.2    2.11
including          322         324             2              1.7    5.48
including          329         332             3              2.6    3.36
                   365         372             6              5.1    2.61
                   381         387             6              5.1    3.06
                   418         423             5              4.3    4.72
including          422         423             1              0.9   15.40
MA-17-197           43          46             3              2.1    1.00
MA-17-198          110         113             3              2.4    1.29
                   264         267             3              2.4    4.65
                   286         289             3              2.4    2.23
                   322         325             3              2.4    2.25
MA-17-199           18          21             3              2.6    5.16
                   100         103             3              2.6    2.78
                   172         175             3              2.6    1.07
                   180         183             3              2.6    1.03
                   205         215            10              8.5    1.22
                   233         244            11              9.4    1.56
including          241         244             3              2.6    3.49
                   280         308            28             23.8    3.39          3.20
including          303         308             5              4.3   16.71         15.67
MA-17-201          391         394             3              2.9    1.33

No significant intervals in MA-17-191, 193, 195, 200 and 202;
Cut-off 45.0 g/t (February, 2017, resource update).  

Acknowledgments

Marathon acknowledges the financial support of the JEA program, Department of Natural Resources, government of Newfoundland and Labrador. The Research & Development Corp. of Newfoundland and Labrador has granted approximately 75 per cent of the costs of the current seismic program to Marathon Gold and the company appreciates this support.

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 were analyzed for Au by fire assay (30 grams) 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 thicknesses (75 per cent to 95 per cent of core length).

About Marathon Gold Corp.

Marathon is a gold exploration company 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 gold resources totalling 1,388,200 ounces gold at 1.91 g/t (measured and indicated) and 766,500 ounces gold at 2.24 g/t (inferred) (February, 2017).

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