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Marathon Gold Corp.
Summary
| Project: | Valentine | |
|---|---|---|
| Deposit: | Valentine | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/21/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing PEA | |
| Report details: | 21-2-2017: Marathon Gold Corp. announces a Resource Estimation report for its Valentine deposit at the Valentine project. Updated Mineral Resource Estimate at Valentine Lake. Micon International Limited (Micon) has been retained by Marathon Gold Corporati | |
| Resources: | (Resource, M+I): 22.57Mt @ 1.91g/t Au for 1.3882Moz Au contained at Valentine Lake | |
| CP/QP: | [Resources]: Charley Murahwi (Micon International Ltd.) | |
| ABSTRACT: | Micon International Limited (Micon) has been retained by Marathon Gold Corporation (Marathon) to update the mineral resource estimates for the Marathon and Leprechaun gold deposits at the Valentine Lake Project in central western Newfoundland (Figure 2.1), and to prepare an independent Technical Report in accordance with the reporting requirements of Canadian National Instrument 43-101 (NI 43-101). Additional drilling has been conducted on the Marathon deposit since the last mineral resource estimate by Micon in April, 2015 whilst current metal prices and technological advances in metallurgy have necessitated a revision of the Leprechaun deposit estimate prepared by Roscoe Postle Associates Inc. (RPA) in August, 2013. The purpose of this report is to support the public disclosure of a Mineral Resource update of the Valentine Lake Project in the light of new information pertaining to the Marathon and Leprechaun deposits. The Valentine Lake Project is 100% owned by Marathon. Glencore Xstrata plc (previously Xstrata plc/Xstrata) retains a 2% Net Smelter Return (NSR) royalty on base metals and a 1.5% NSR royalty on the first 250,000 ounces of gold, increasing at that point to 3% on the Project as it existed at the time of the agreement. The Valentine Lake Project is located in central western Newfoundland, approximately 57 km south of the town of Buchans (NTS map sheets 12A/6 and 12A/7). It comprises 14 contiguous mineral licences consisting of 960 claims covering a total area of 24,000 ha. The approximate centre of the property is located at 48°19’50” north and 57°20’28” west. | |
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