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Marathon Gold Corp.
Summary
| Project: | Valentine | |
|---|---|---|
| Deposit: | Marathon | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 8/17/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-8-2017: Marathon Gold Corp. announces an Exploration/Drilling Update report for its Marathon deposit at the Valentine project. Drilling results incl. 191m @ 1.61g/t Au from 195m. TORONTO, Aug. 17, 2017 -- Marathon Gold Corporation (“Marathon” or the “C | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Sherry Dunsworth (Internal) | |
| ABSTRACT: | TORONTO, Aug. 17, 2017 -- Marathon Gold Corporation (“Marathon” or the “Company”) (TSX:MOZ) is pleased to announce very positive results from infill and exploration drilling at the Marathon Gold Deposit, Valentine Lake Gold Camp, central Newfoundland. Drill holes MA-17-184 and MA-17-186, designed to drill sub-vertical down through the main mineralized corridor, intersected wide intervals of good gold grades including 1.61 g/t Au over 191 meters with 3.16 g/t Au over 27 meters and 7.16 g/t Au over 8 meters in MA-17-186 (Figure 1). MA-17-185, designed to drill through the hanging wall, skirting along the western side of the main mineralized corridor and then crossing into the footwall conglomerate, intersected significant intervals of low-grade gold values in the hanging wall. Infill drilling at the Marathon Deposit is being utilized to add ounces of gold to the next resource update and to upgrade existing inferred resources material into the indicated and measured resource categories. Drilling with 4 rigs continues 24/7 at the Valentine Lake Gold Camp as Marathon works toward maximizing drill coverage for the new resource update in the fourth quarter of this year. The new resource update will be the foundation of a PEA which will be commissioned after the resource is completed. “Our Marathon Deposit drilling is returning consistently excellent intercepts as we continue building both shallow open pit and deeper underground resources. The intersections in the main corridor of mineralization show great continuity of gold mineralization with consistent higher-grade gold sections separated by small intervals of lower-grade gold mineralization. The Valentine gold mineralizing system at our property is exposed for over 20 km in length, has the potential to extend beyond 1 km to depth based on our current drilling results, and the same large gold system may well extend beyond the current 20km strike length once we start exploring the northeastern 10km section of our Valentine Lake Gold Camp property in September and October,” said Phillip Walford, President and CEO of Marathon. “As drilling continues throughout the remainder of the summer and fall, we are anticipating more exciting drilling results over the next few months as we continue to expand our global gold resources at the Valentine Lake Gold Camp.” | |
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