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Marathon Gold Corp.
Summary
| Project: | Valentine | |
|---|---|---|
| Deposit: | Marathon | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/31/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-5-2017: Marathon Gold Corp. announces an Exploration/Drilling Update report for its Marathon deposit at the Valentine project. Drilling results incl. 118m @ 1.56g/t Au from 141m. TORONTO, ON – May 31, 2017 - Marathon Gold Corporation (“Marathon” or the | |
| Resources: | (Resource, M+I): 1.3882Moz Au contained @ 1.91g/t Au at Valentine Lake | |
| CP/QP: | [Overall Report]: Sherry Dunsworth (Internal) | |
| ABSTRACT: | TORONTO, ON – May 31, 2017 - Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is excited to announce the Company’s plans for exploration and development activities at the Valentine Lake Gold Camp following the recent closing of the bought deal financing which generated gross proceeds of $18.6 million. The net proceeds of the offering will allow Marathon to continue infill, extension and exploration drilling at the Valentine Lake Gold Camp, advance the metallurgical programs, and increase the ongoing environmental work at the property in preparation for future mine permitting, among other activities as set out in additional detail within the final short form prospectus of the Company dated May 16, 2017. Marathon has increased staff and expanded facilities at the Valentine camp as we commence our expanded exploration program. “We now have the financial capacity needed to move the Valentine Lake Gold Camp to the next level including an expanded drill campaign, continued exploration of deeper mineralization and prospecting work throughout the entire property,” commented Phillip Walford, President and CEO of Marathon. “We plan to complete a 60,000 meter drill campaign at the Valentine Lake Gold Camp which will allow us to expand the Marathon Deposit along strike to the southwest and to depth. This is going to be a very busy year for us as we look to significantly expand the property wide resource.” The company is also happy to announce new drill results from the Marathon Deposit at the Valentine Lake Gold Camp. | |
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