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Marathon Gold Corp.
Summary
| Project: | Valentine | |
|---|---|---|
| Deposit: | Sprite Zone | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 12/18/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-12-2019: Marathon Gold Corp. announces an Exploration/Drilling Update report for its Sprite Zone deposit at the Valentine project. Drilling results incl. 22m @ 7.60g/t Au from 165m. TORONTO, ON – December 18, 2019 - Marathon Gold Corporation (“Marathon | |
| Resources: | (Resource): 1.17Moz Au (Meas.), 1.52Moz Au (Ind.), 1.53Moz Au (Inf.) project total | |
| CP/QP: | [Overall Report]: Sherry Dunsworth (Internal) | |
| ABSTRACT: | TORONTO, ON – December 18, 2019 - Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is pleased to report new drill results from the 2019 Sprite Zone exploration program at the Valentine Gold Project in central Newfoundland. These latest results represent fire assay data from 40 out of a total of 46 drill holes located along an approximately 3 km strike length of the Sprite Zone, located 3-5 km northeast of the project’s Leprechaun Deposit (Figure 1). All quoted intersections comprise uncut gold assays in core lengths. All significant assay intervals are reported in Table 1. Matt Manson, President & CEO commented: “We are encouraged by these exploration results from an area of the Sprite Zone that was last explored with drilling in 2014 and 2018. The new drill holes were designed to step out from areas of previously identified mineralisation. About half hit new mineralisation, some significantly so. Of note, the drilling has confirmed a new “Main Zone” type sequence of stacked, en-echelon quartz-tourmaline-pyrite veining with significant gold grades at Section 13410E (Figure 2). This new zone is located proximal to the Valentine Lake Shear Zone, extends to a depth of at least 250 metres with an apparent thickness of up to 50 metres, and is bounded by mafic dikes. This is similar to the geological setting of the Main Zones of both the Leprechaun and Marathon Deposits. Hole VL-19-786, which returned 7.60 g/t over 22 metres, represents a 300 metre step-out to the northeast, suggesting potential extension of the mineralisation along strike. We expect that Sprite, and this new discovery area in particular, will be a priority for follow up drilling in our 2020 exploration program.” | |
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