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Marathon Gold Corp
Symbol C : MOZ
Shares Issued 140,843,352
Close 2017-11-17 C$ 1.05
Recent Sedar Documents

Marathon Gold drills 82.7 m of 1.95 g/t Au at Valentine

2017-11-20 07:30 ET - News Release

Mr. Phillip Walford reports

DRILLING AT THE MARATHON DEPOSIT CONTINUES TO PROVIDE SIGNIFICANT INTERSECTIONS INCLUDING: 1.95 G/T GOLD OVER 82.7 METERS & 3.42 G/T AU OVER 28.8 METERS VALENTINE LAKE GOLD CAMP, NEWFOUNDLAND

Marathon Gold Corp. has released drill results from the company's 100-per-cent-owned Valentine Lake gold camp, central Newfoundland. Drill holes MA-17-226 and MA-17-230 intersected wide intervals of continuous gold mineralization down through the en echelon stacked QTP-Au veining of the 50- to 125-metre-wide, subvertical main zone corridor of the Marathon deposit. Hole MA-17-235 intersected a significant intersection of high grade. These new drill results will be incorporated into the Valentine Lake property-wide resource update to be released in late November, 2017. The drilling will form the basis for the preliminary economic assessment expected to be completed in Q2 of 2018.

To date, Marathon has released the results of 52 per cent of its current planned 60,000-metre drill campaign. Future drilling at the Marathon deposit will focus on resource expansion and upgrade including 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, and hangingwall and footwall drilling aimed at reducing waste in the resource pit shell.

"The release of the property-wide resource update has been slightly delayed in order to provide time for new assays from additional important drill holes in the Marathon deposit to be completed for incorporation into the resource. The results of the 2017 infill and stepout drilling program have been very successful in increasing the confidence of the resource model and expanding the resource along strike and to depth," stated Phillip Walford, president and chief executive officer of Marathon. "The recent NSR buyback was opportunistic. Marathon management are thrilled that this attractive opportunity presented itself. The elimination of the NSR on both the Marathon and Victory deposits will give better economic results in the PEA by reducing the costs of mining in those deposits."

                                      MARATHON DRILL RESULTS
 
Hole               From (m)       To (m)    Core length (m)    True thickness (m)      Gold (g/t)

MA-17-226               68           71                  3                   2.9            1.94
                        81           84                  3                   2.9            1.08
                        92          104                 12                  11.4            3.02
                       142          229                 87                  82.7            1.95
including              142          150                  8                   7.6            5.05
including              159          162                  3                   2.9            9.74
including              167          170                  3                   2.9            6.32
including              198          207                  9                   8.6            3.02
                       287          318                 31                  29.5            2.55
including              293          297                  4                   3.8            5.65
                       367          373                  6                   5.7            2.55
MA-17-227              112          115                  3                   2.6            3.45
                       155          158                  3                   2.6            2.16
                       270          281                 11                   9.4            1.85
including              279          281                  2                   1.7            6.74
MA-17-228              301          305                  4                   3.2            1.76
                       319          325                  6                   4.8            3.07
                       391          410                 19                  15.2            2.04
including              393          398                  5                   4.0            4.72
including              408          410                  2                   1.6            4.69
MA-17-229               70           73                  3                   2.4            6.28
                       113          118                  5                   4.0            6.99
                       237          241                  4                   3.2            1.71
                       280          283                  3                   2.4            1.57
                       299          316                 17                  13.6            2.38
including              310          315                  5                   4.0            4.83
                       341          344                  3                   2.4            2.94
                       358          362                  4                   3.2            2.93
MA-17-230               76           80                  4                   3.8            1.71
                       141          215                 74                  70.3            1.33
including              147          149                  2                   1.9            4.21
including              155          158                  3                   2.9            3.46
including              190          193                  3                   2.9            4.68
including              212          215                  3                   2.9            7.14
                       231          237                  6                   5.7            6.04
                       296          301                  5                   4.8            3.66
                       328          331                  3                   2.9            2.20
                       351          354                  3                   2.9            4.23
                       390          394                  4                   3.8           10.20
                       415          484                 69                  65.6            1.58
including              415          420                  5                   4.8           10.07
MA-17-231              137          147                 10                   7.5            1.96
MA-17-232               12           20                  8                   7.6            3.40
including               18           20                  2                   1.9            9.12
                        27           34                  7                   6.7            2.44
including               27           29                  2                   1.9            5.00
                       206          213                  7                   6.7            2.52
                       219          222                  3                   2.9            3.16
                       239          247                  8                   7.6            2.51
MA-17-235              141          144                  3                   2.4            3.72
                       244          280                 36                  28.8            3.42
including              255          261                  6                   4.8           10.97
including              277          280                  3                   2.4            4.50
                       292          302                 10                   8.0            2.01
   
* No significant intervals in MA-17-233 and MA-17-234.                

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 are 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 (between 75 per cent and 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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