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Marathon Gold Corp
Symbol MOZ
Shares Issued 161,891,202
Close 2019-09-03 C$ 1.43
Recent Sedar Documents

Marathon Gold drills 62 m of 1.44 g/t Au at Valentine

2019-09-03 07:17 ET - News Release

Dr. Matthew Manson reports

MARATHON GOLD REPORTS LATEST DRILL RESULTS FROM MARATHON DEPOSIT AT VALENTINE GOLD PROJECT, NL

Marathon Gold Corp. has released positive results from the start of the infill drilling campaign at the Marathon deposit, part of the Valentine gold project in central Newfoundland. This latest drilling is part of a series of planned infill and exploration drill holes designed to expand the estimate of mineral resources at the Marathon deposit over the more than 1,500-metre strike length of the deposit's Main zone corridor. Of note, these drill results continue to successfully demonstrate the continuity of gold mineralization both along and across strike of the Main zone as well as from surface to the base of the currently planned open pit, where mineralization remains open to depth. Highlights of the latest drilling include:

  • Main zone: MA-19-405 intersected 3.87 grams per tonne gold over 11.0 metres including 13.63 g/t Au over 2.0 metres and 3.78 g/t Au over 8.0 metres including 12.57 g/t Au over 2.0 metres.
  • Main zone: MA-19-401 intersected 3.36 g/t Au over 13.0 metres including 12.81 g/t Au over 2.0 metres and 3.11 g/t Au over 3.0 metres.
  • Main zone: MA-19-408 intersected 1.44 g/t Au over 62.0 metres including 7.70 g/t Au over 2.0 metres and 4.86 g/t Au over 2.0 metres and 4.67 g/t Au over 3.0 metres.
  • Main zone: MA-19-399 intersected 1.34 g/t Au over 39.0 metres including 8.87 g/t Au over 2.0 metres and 3.40 g/t Au over 3.0 metres.
  • Main zone NE: MA-19-400 intersected 12.32 g/t Au over 3.0 metres and 4.60 g/t Au over 4.0 metres, MA-19-404 intersected 10.22 g/t Au over 3.0 metres and 4.68 g/t Au over 4.0 metres, MA-19-407 intersected 3.36 g/t Au over 3.0 metres, and MA-19-411 intersected 2.60 g/t Au over 3.0 metres.
  • Hanging and footwall DDHs, drilled along the outer flanks of the Main zone corridor, intersected significant gold mineralization including in MA-19-406: 7.40 g/t Au over 3.0 metres, 8.74 g/t Au over 3.0 metres, and 2.24 g/t Au over 7.0 metres and 4.88 g/t Au over 3.0 metres in MA-19-410.

The latest drilling has been oriented downward through the en echelon stacked, shallowly southwest-dipping, gold-bearing quartz-tourmaline-pyrite-gold (QTP-Au) veins which form the dominant vein orientation within the subvertical Main zone corridor of the Marathon deposit. It represents both infill drilling in areas currently classified as inferred mineral resources in the October, 2018, mineral resource estimate and new exploration in areas of previously little drilling along the northeast end of the Main zone corridor.

In addition to the results published today, assays are pending for new drilling which has intersected significant QTP-Au veining in both the northeast end of the current open pit design as well as southwest along strike on the Main zone corridor.

Three drill rigs are currently operating at the Marathon deposit, where a more than 20,000-metre infill and stepout drilling program will be completed in September. Thereafter, two drill rigs will move on to complete a planned 7,000-metre exploration drilling campaign at the Sprite zone.

All drilling completed to the end of September 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 exploration drilling, a 2,250-metre HQ core size geotechnical drilling program has recently been completed, the results of which will be for open-pit design at the Leprechaun and Marathon deposits in the upcoming Valentine prefeasibility study scheduled for the second quarter of 2020.

   SIGNIFICANT ASSAY INTERVALS, MARATHON DEPOSIT, VALENTINE GOLD CAMP

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

MA-19-399          152     155            3              2.6       3.40
                   163     202           39             33.2       1.34
including          182     184            2              1.7       8.87
                   224     227            3              2.6       1.85
MA-19-400          184     187            3              2.7      12.32
                   196     200            4              3.6       4.60
                   236     239            3              2.7       2.12
                   249     252            3              2.7       2.07
                   277     280            3              2.7       3.54
MA-19-401           80      83            3              2.4       3.91
                   271     274            3              2.4       3.11
                   306     319           13             10.4       3.36
including          317     319            2              1.6      12.81
                   336     339            3              2.4       2.83
                   352     357            5              4.0       2.28
MA-19-404           69      72            3              2.7      10.22
                   275     278            3              2.7       2.52
                   292     295            3              2.7       4.68
MA-19-405           61      64            3              2.7       2.67
                   114     117            3              2.7       2.03
                   279     290           11              9.9       3.87
including          285     287            2              1.8      13.63
                   336     339            3              2.7      12.66
                   372     380            8              7.2       3.78
including          373     375            2              1.8      12.57
MA-19-406          119     122            3              2.6       7.40
                   253     256            3              2.6       1.41
                   269     272            3              2.6       8.74
                   297     300            3              2.6       1.68
                   348     355            7              6.0       2.24
MA-19-407           80      83            3              2.6       1.10
                    85      88            3              2.6       2.92
                   198     202            4              3.4       1.06
                   219     222            3              2.6       3.36
MA-19-408           94      97            3              2.9       1.84
                   107     110            3              2.9       1.89
                   122     125            3              2.9       4.67
                   140     143            3              2.9       1.18
                   152     155            3              2.9       3.22
                   168     230           62             58.9       1.44
including          174     176            2              1.9       7.70
including          192     194            2              1.9       4.86
MA-19-410           38      41            3              2.9       4.88
MA-19-411          230     233            3              2.6       2.29
                   238     241            3              2.6       2.60

* No significant intervals in MA-19-402, 403 and 409 drilled outside 
of the Main zone.        
                                                                                                                                                 

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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