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Marathon Gold Corp.
Summary
| Project: | Valentine | |
|---|---|---|
| Deposit: | Valentine | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 4/6/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-4-2020: Marathon Gold Corp. announces a Pre-Feasibility Study report for its Valentine deposit at the Valentine project. PFS results incl. post-tax NPV (5%) of C$472M and IRR of 36%. TORONTO, ON – April 6, 2020 - Marathon Gold Corporation (“Marathon” or | |
| Resources: | (Reserves, P+P): 41.05Mt @ 1.41g/t Au | |
| CP/QP: | [Overall Report]: Robbert Borst (Internal) | |
| ABSTRACT: | TORONTO, ON – April 6, 2020 - Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is pleased to report the results of the Pre-Feasibility Study (“PFS”) for the Valentine Gold Project in Central Newfoundland (the “Project”). The PFS supports an open pit mining operation with low initial capital cost and high rate of return over a 12-year mine life. Highlights of the PFS are as follows (all figures are in Canadian dollars unless otherwise noted): Matt Manson, President & CEO commented: “The Valentine Pre-Feasibility Study released today presents a high value, low capex project with a strong gold production profile and high operating margins. We have taken the approach of identifying the optimum starting point for mining at Valentine, emphasising highest rate of return and lowest risk, while recognising that the large resource inventory and extensive exploration potential along strike and at depth offers plenty of opportunity for mine life extension. Our mill expansion strategy is supported by internal cash flow using a conservative gold price assumption, and the project carries strong project financing attributes, including a fast payback.” Mr. Manson continued: “The Valentine Project is expected to be Atlantic Canada’s largest gold producer. Notwithstanding the current COVID-19 challenges, it represents the future of responsible resource development in Central Newfoundland. | |
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