Marathon PGM Corporation

Published : April 18th, 2007

drills 8 m of 3.1 g/t PGM+Au in W Zone

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Keywords :   Copper | Gold |

Marathon drills 8 m of 3.1 g/t PGM+Au in W Zone

April 18, 2007 - Toronto, Ontario: Marathon PGM Corporation (TSX: MAR) ("Marathon" or the "Company") is pleased to announce the results from 35 (exploration, definition and condemnation) drill holes in the RD and W zones of the Marathon PGM-Cu deposit.  Sixteen of these holes contain significant PGM and gold and copper values over widths that are typical of known mineralization.  Of the 16 holes with significant PGM and gold and copper, 5 were located near the outer margin of the W zone and 11 were infill holes in the RD zone.  The remaining holes without significant values were definition and condemnation holes. 

THIS PRESS RELEASE ALSO CONTAINS A MAP.  CLICK HERE TO VIEW ORIGINAL PDF VERSION.

W Zone Drilling
A total of 5 holes were designed to test the continuity of the W zone at the west and north-west limits of mineralization. Metal values intersected are lower than normal but confirm the continuity of the mineralized envelope. Mineralization in hole M-07-266 is located near the eastern boundary of the zone and starts within 5 metres of surface.

Holes M-07-271, M-07-274 and M-07-295 confirm the down dip continuity of the zone, also with lower metal values.  Hole M-07-275 confirms the continuity of the W zone down dip and along strike and contains 8 m of 3.1 g/t total PGM+Au and 0.04% copper.  The high significance of hole M-07-275 is in the fact that it is located at the farthest northwest extent of drilling and indicates the potential of mineralization to the north and the west.

RD Zone Drilling
Marathon has finished exploration and definition of the RD zone and in this release, re ports a total of 15 definition and 11 infill holes. The RD zone is a shallow, nearly horizontal mineralized zone, which is approximately 20 to 30 m thick. The infill holes have intersections between 6 m and 26 m thick, with total PGM and gold values ranging from 0.33 g/t to 2.57 g/t and copper values from 0.1% to 0.27%.  The holes without significant PGM and gold values define the outer margins of the RD zone, and are less than about 60m deep.  This includes the following holes: M-07-265, 267, 273, 280, 281, 282, 284, 285, 286, 287, 288, 289, 292, 294, 297, and 298.  The detailed limits of the mineralization had to be defined for the feasibility study.

Two holes (M-07-268 and M-07-270) located between the RD and W zones were designed to test the continuity potential of mineralization, but contain no significant PGM and gold or copper values.  This was expected based on previous mapping and sampling, the area had to be condemned for feasibility purp oses.

The two rigs are currently drilling in the Dunlop and WD zones for the remainder of April while the snow melts and road conditions improve.  The Dunlop zone contains abundant low grade copper mineralization with intersections typically on the order of 50 to 100 m.  The WD zone is located 3 km south of the Malachite zone and is a new prospect uncovered by trenching last autumn.  The first WD holes will test the IP anomaly defined at shallow depths by the Insight Array geophysical survey. The drill rigs will be returning to the Main and W zones by early May.

Hole

Zone

From
(m)

To
(m)

Intersection
(m)

True Thickness
(m)

Pd
(g/t)

Pt
(g/t)

Au
(g/t)

Rh
(g/t)

Total PGM+Au
(g/t)

Cu (%)

M-07-266

W

3

21

18

18

0.54

0.27

0.08

tr

0.89

0.27

M-07-271

W

252

264

12

11

0.65

0.46

0.08

0.01

1.19

0.05

M-07-274

W

254

258

4

4

0.34

0.20

0.13

tr

0.67

0.02

M-07-275

W

284

300

16

15

1.24

0.54

0.04

tr

1.82

0.02

includes

 

292

300

8

7.5

2.16

0.86

0.07

tr

3.09

0.04

M-07-295

W

170

188

18

17

0.60

0.26

0.25

tr

1.11

0.16

M-07-264

RD

3.3

20

17

13

0.41

0.17

0.08

tr

0.66

0.12

M-07-269

RD

2.3

24

22

19

0.17

0.10

0.07

tr

0.33

0.24

M-07-272

RD

10

28

18

13

0.44

0.13

0.08

tr

0.65

0.19

M-07-276

RD

7

21

14

14

0.80

0.46

0.10

tr

1.37

0.07

includes

 

17

21

4

4

2.45

0.88

0.30

0.04

3.63

0.23

M-07-277

RD

17

31

14

14

0.67

0.40

0.12

tr

1.19

0.10

M-07-278

RD

5

11

6

6

0.54

0.17

0.00

tr

0.71

0.27

M-07-279

RD

82

88

6

6

0.88

0.28

0.10

tr

1.26

0.10

M-07-283

RD

14

40

26

26

0.49

0.19

0.05

tr

0.73

0.16

M-07-291

RD

4

26

22

22

1.52

0.85

0.14

0.05

2.57

0.18

M-07-293

RD

10

50

40

40

0.33

0.28

0.10

0.01

0.71

0.15

M-07-296

RD

63

77

14

14

1.15

0.57

0.17

tr

1.90

0.24


All of the samples were sent to Accurassay, an accredited laboratory in Thunder Bay, Ont., to be assayed using fire assay and other standard techniques.

All exploration work is being performed under the guidance and supervision of Phillip C. Walford, President and Chief Executive Officer of the Company, a professional geologist and Qualified Person as defined by National Instrument 43-101. Mr. Walford has approved the contents of this press release.

About the Marathon PGM - Cu Project

The Company has a 100% interest in the Marathon PGM - Cu Project, located about 10km north of Marathon, Ontario. The Project is currently undergoing a definitive feasibility study and a 35,000 m drill campaign. As announced previously, the Company has completed a revised Preliminary Economic Assessment in compliance with the provisions of National Instrument 43-101, showing a potentially mineable measured resource of 39.2 million tonnes containing 1.6 million oz of PGM and gold and 285 million lbs of copper, and an indicated resource of 28.9 million tonnes containing 1.1 million oz of PGM and gold and 178 million lbs of copper.  An additional low-grade resource was also identified in the report completed by P&E Mining Consultants Inc. and filed on Sedar on April 5, 2007.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking statements". Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These risks and uncertainties include but are not limited to those identified and reported in Management's Discussion and Analysis for the year ended December 31, 2006. Circumstances or management' s estimates or opinions could change, and management disclaims any obligation to revise or update forward-looking statements, whether for new information, future events or otherwise. The reader is cautioned not to place undue reliance on forward-looking statements.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

ON BEHALF OF MARATHON PGM:
"PHILLIP C. WALFORD"
PHILLIP C. WALFORD, P.GEO.
PRESIDENT, CHIEF EXECUTIVE OFFICER 
GEN@MARATHONPGM.COM 
TEL: +1.416.987.0711 

FOR MORE INFORMATION, PLEASE CONTACT:
DAVID LENG, P.GEO: DLENG@MARATHONPGM.COM
TEL:  +1.905.537.5377  
FAX: +1.416.861.1925 
WWW.MARATHONPGM.COM      

FOR MEDIA INQUIRIES, PLEASE CONTACT:
VANESSA NAPOLI, VNAPOLI@RENMARKFINANCIAL.COM
TEL: +1.514.939.3989

Marathon PGM Corporation

EXPLORATION STAGE
CODE : MAR.TO
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Marathon PGM is a nickel and zinc exploration company based in Canada.

Marathon PGM holds various exploration projects in Canada.

Its main exploration properties are BIRD RIVER - PAGE BLOCK, MARATHON, BIRD RIVER - NI ZONE, BIRD RIVER - ZN & CU ZONE and GEORDIE LAKE in Canada.

Marathon PGM is listed in Canada and in United States of America. Its market capitalisation is CA$ 9.2 millions as of today (US$ 7.1 millions, € 6.2 millions).

Its stock quote reached its lowest recent point on August 14, 1998 at CA$ 0.02, and its highest recent level on June 03, 2011 at CA$ 7.50.

Marathon PGM has 17 700 000 shares outstanding.

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8/16/2007- CEO Interview
8/13/2007hits 6 m of 7.48 g/t PGM and gold and 0.06% copper in W Hori...
7/12/2007discovers additional mineralization outside perimeter of exi...
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1/25/2007Measured and Indicated In-Pit Resource Grows 39%
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