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Marathon Gold Corp.
Summary
| Project: | Valentine | |
|---|---|---|
| Deposit: | Marathon | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/20/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing PEA | |
| Report details: | 20-11-2017: Marathon Gold Corp. announces an Exploration/Drilling Update report for its Marathon deposit at the Valentine project. Drilling results incl. 82.7m @ 1.95g/t Au from 142m. TORONTO, ON – November 20, 2017 - Marathon Gold Corporation (“Marathon” | |
| Resources: | (Resource, M+I): 1.388Moz @ 1.91g/t at Marathon | |
| CP/QP: | [Overall Report]: Sherry Dunsworth (Internal) | |
| ABSTRACT: | TORONTO, ON – November 20, 2017 - Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) Marathon Gold Corporation is pleased to report these latest drill results from the Company’s 100% 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-meter wide, sub-vertical main zone corridor of the Marathon Deposit (Figure 1, Table 1). 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 PEA expected to be completed in Q2 of 2018. To date, Marathon has released the results of 52% of its current planned 60,000-meter 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 hanging 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 step-out 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 CEO of Marathon. “The recent NSR buy-back 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.” | |
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