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Marathon Gold Corp
Symbol C : MOZ
Shares Issued 140,843,352
Close 2017-10-25 C$ 1.03
Recent Sedar Documents

Marathon Gold drills 162.5 m of 1.51 g/t Au at Valentine

2017-10-26 07:22 ET - News Release

Mr. Phillip Walford reports

MARATHON GOLD COMMENCES PEA & NEW DRILLING AT MARATHON DEPOSIT HITS:A 1.51 G/T GOLD OVER 162.5 METERS & 1.36 G/T GOLD OVER 198.6 METERS VALENTINE LAKE GOLD CAMP, NEWFOUNDLAND

Marathon Gold Corp. has released excellent results from the company's 100-per-cent-owned Valentine Lake gold camp, central Newfoundland. Drill holes MA-17-217, MA-17-218, MA-17-220, MA-17-222 and MA-17-225 all succeeded in intersecting wide intervals of continuous gold mineralization down through the en-echelon stacked QTP-Au (quartz–tourmaline–pyrite-gold) veining of the 50-to-100-metre-wide, subvertical main zone corridor of the Marathon deposit. These new drilling results will be incorporated into the Valentine Lake property-wide resource update expected to be released in early November, 2017, and form the base for the preliminary economic assessment expected to be completed in the the second quarter of 2018.

To date, Marathon has released the results of just 48 per cent of its current planned 60,000-metr drill campaign. Future drilling at the Marathon deposit will focus on infill drilling in the upper open-pit as well as underground regions of the deposit, stepout drilling to the southwest along strike to further expand the open-pit, hangingwall and footwall drilling aimed at reducing strip ratio for the resource pit shell. These excellent new drilling results will be incorporated into the property-wide resource update for the Valentine Lake gold camp, which is expected to be released in early November, 2017. The updated resource will form the base for a preliminary economic assessment on the property, which is under way and expected to be completed in the second quarter of 2018.

"Drilling at the Marathon deposit continues to intersect very wide intervals of continuous good gold grades downward through the open pit and into the underground depths of the main zone corridor," said Phillip Walford, president and chief executive officer of Marathon. "The recent, highly successful drilling results from the Marathon deposit will be included in the soon to be released property-wide resource update. This new resource forms the foundation for the PEA which is currently under way and the company is excited to be moving forward to the next phase in developing the Valentine gold camp while continuing to explore and expand gold resources."

                      MARATHON DEPOSIT, VALENTINE LAKE GOLD CAMP

DDH         From     To        Core length         True thickness       Gold              Gold  
             (m)    (m)                (m)                    (m)      (g/t)      (g/t) (cut)*

MA-17-215    295    312                 17                   14.5       3.83
including    302    309                  7                    6.0       7.50
             324    335                 11                    9.4       2.88
             406    410                  4                    3.4       3.18
MA-17-216    152    155                  3                    2.4       1.45
             216    219                  3                    2.4       1.48
             233    236                  3                    2.4       2.23
MA-17-217     24    195                171                  162.5       1.51              1.49
including     33     36                  3                    2.9       4.75
including     51     63                 12                   11.4       4.68
including     78     83                  5                    4.8       6.04
including     95     99                  4                    3.8       2.65
including    120    124                  4                    3.8       2.69
including    192    195                  3                    2.9      17.68             16.32
MA-17-218      4    213                209                  198.6       1.36
including      4     32                 28                   26.6       3.63
including    106    108                  2                    1.9       5.17
including    164    167                  3                    2.9       3.11
including    173    179                  6                    5.7       3.49
including    191    196                  5                    4.8       6.14
including    206    213                  7                    6.7       3.69
             644    648                  4                    3.8       4.49
MA-17-219     58     61                  3                    2.1       2.96
              71     76                  5                    3.5       4.12
MA-17-220      6    227                221                  210.0       1.32
including     15     22                  7                    6.7       3.37
including     34     36                  2                    1.9       6.61
including     50     54                  4                    3.8       6.46
including     67     73                  6                    5.7       3.32
including    129    131                  2                    1.9       4.25
including    140    150                 10                    9.5       3.18
including    159    164                  5                    4.8       4.32
including    172    175                  3                    2.9       4.23
including    192    194                  2                    1.9       3.68
including    200    202                  2                    1.9       3.46
including    224    227                  3                    2.9       4.19
             257    266                  9                    8.6       2.31
including    263    266                  3                    2.9       4.46
             324    334                 10                    9.5       3.71
including    330    334                  4                    3.8       6.88
             360    364                  4                    3.8       2.21
MA-17-221     34     37                  3                    2.1       2.10
MA-17-222    109    156                 47                   37.6       1.98
including    109    113                  4                    3.2      10.69
including    138    143                  5                    4.0       4.84
including    152    156                  4                    3.2       3.01
             168    172                  4                    3.2       2.23
MA-17-223    132    135                  3                    2.4       1.32
MA-17-224    104    108                  4                    2.8       3.65
MA-17-225    132    135                  3                    2.9       2.61
             149    152                  3                    2.9       2.75
             181    184                  3                    2.9       1.71
             255    307                 52                   49.4       2.80
including    255    265                 10                    9.5       8.50
including    273    277                  4                    3.8       6.73
             362    368                  6                    5.7       5.20
             403    406                  3                    2.9       6.35
       
* Au top cut of 45 grams per tonne gold Au (February, 2017, resource 
update).

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 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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