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Marathon Gold Corp.
Summary
| Project: | Valentine | |
|---|---|---|
| Deposit: | Marathon | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/21/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing PEA | |
| Report details: | 21-11-2016: Marathon Gold Corp. announces an Exploration/Drilling Update report for its Marathon deposit at the Valentine project. Drilling results incl. 20m @ 3.20g/t Au from 368m. TORONTO, ON – November 21, 2016, - Marathon Gold Corporation (“Marathon” | |
| Resources: | (Resource, M+I): 1.06Moz Au contained @ 2.2g/t Au (Valentine Gold Camp Total) | |
| CP/QP: | [Overall Report]: Sherry Dunsworth (Internal) | |
| ABSTRACT: | TORONTO, ON – November 21, 2016, - Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) announces further positive results from the fall drilling at the Marathon Deposit, Valentine Gold Camp. Deep drill holes MA-16-130 and MA-16-136, at the current east and west extremities respectively of the resource pit shell, succeeded in intersecting significant intervals of high-grade gold at depth and increasing the overall strike length of the deeper mineralized zone to more than 350 meters (Figure 1). Drill holes MA-16-133 and MA-16-135 intersected shallower levels of good mineralization along the SW end of the 2015 resource pit shell while step-out drill holes MA- 16-131 and MA-16-132 pushed SW along strike to intersect good grades at shallow depths. The 50- 100-meter-wide true thickness (TT) sub-vertical mineralized corridor of the Marathon Deposit is open along strike and now extends to depth in excess of 350 meters. Drilling remains focused on developing open-pit and underground resources at the Marathon Deposit with two drills working around the clock in advance of an anticipated 2017 resource update. “The recent $8 million flow through financing combined with the $3 million already in the treasury has put Marathon in a strong position to aggressively drill for resource expansion on the Valentine Lake property for the remainder of this year and 2017. We are delighted by the consistent growth of both the higher-grade underground mineralized corridor as well as shallower open-pit mineralization as we push southward from the 2015 Marathon Deposit resource pit shell”, said Phillip Walford, President and CEO of Marathon. Also we now have the finances to test the underground potential of the Leprechaun Deposit in the coming year. “Two drills continue working round-the-clock at the Marathon Deposit as we focus on maximizing the 2017 resource update planned for the second quarter of 2017.” | |
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