Marathon PGM Corporation

Published : August 13th, 2007

hits 6 m of 7.48 g/t PGM and gold and 0.06% copper in W Horizon

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Marathon hits 6 m of 7.48 g/t PGM and gold and 0.06% copper in W Horizon

Toronto, Ontario, August 13, 2007 - Marathon PGM Corporation (MAR -- TSX) ("Marathon" or the "Company") is pleased to announce the most recent results from the 2007 exploration campaign at the Company's 100% owned Marathon PGM-Cu Project, located 10 km northwest of Marathon, Ontario. These results for 9 holes confirm the continuity of mineralization between the southern end of the Main Zone and the northern end of the Malachite area and define westward extension of Main Zone mineralization.

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

High Grade W Horizon Drilling
The western margin of the high grade W horizon was tested through a series of six holes.  Holes M-07-361, 362, 364, 365, 368 and 369 were drilled along strike and down dip at a spacing of approximately 50 m, focused on the W horizon.  The best intersections occur in holes 368 and 369. Hole M-07-368 intersected 2.48 g/t PGM and gold and 0.01% copper over 18 m including 6 m at 5.68 g/t and 0.04% copper.  Hole M07-369 contained 2.24 g/t PGM and gold and 0.01% copper over 12 m.  Marathon remains confident that the potential to expand the resource exists, considering that holes 368 and 369 are south and west of the existing Main zone resource pit.  These two holes are important in confirming a high grade trend between the planned pits of the Malachite and Main Zones.

Main Zone Drilling
Down dip extensions of the Main Zone were defined by holes M-07-363, 366 and 367.  Hole M-07-363 is a step out drill hole located just inside of the western edge of the existing resource pit and contains good grades of 2.58 g/t PGM and gold and 0.13% copper over 16 m and 1.53 g/t PGM and gold and 0.79% copper over 16 m. Holes M-07-366 and 367 are important holes as they are both outside of the existing resource pit. M-07-366 is located outside of the existing resource pit and contains 1.91 g/t PGM and gold and 0.32% copper over 12 m and 3.36 g/t PGM and gold and 0.05% copper over 2 m.  

Hole 367 is located 200 m outside of the existing resource pit and shows a thinning of mineralized host rock at a depth of 400 m.  Despite the thinning of the mineralized Two Duck Lake gabbro, the hole intersected 22 m of magnetite-rich Eastern gabbro that graded 0.57 g/t PGM and gold and 0.03% Cu.  While this mineralization is lower grade, it is at a very shallow depth and is inside the existing resource pit wall and will help to reduce the strip ratio.  This demonstrates the continued potential for discovering higher grades and additional resources within the magnetite rich Eastern Gabbro.

Phillip Walford, President and CEO, stated "There is a shallow, high grade lens developing between the Malachite and Main Zones and the new drill holes are helping to define it.  There is a good possibility that this resource will enlarge the Main Zone pit."

Table 1: Significant Drill Hole Results

Hole

Zone

From (m)

To

(m)

Interval (m)

Pd (g/t)

Pt (g/t)

Au (g/t)

Total PGM and gold (g/t)

Cu (%)

M-07-361

W

75

83

8

0.74

0.27

0.05

1.06

0.04

M-07-361

 

91

95

4

0.46

0.24

0.06

0.76

0.06

M-07-362

W

93

97

4

0.41

0.21

0.03

0.65

0.02

M-07-362

 

111

115

4

0.50

0.21

0.11

0.82

0.30

M-07-363

Main

199

209

10

0.24

0.17

0.05

0.46

0.11

M-07-363

 

219

223

4

0.41

0.22

0.03

0.66

0.17

M-07-363

 

255

271

16

1.73

0.69

0.16

2.58

0.13

M-07-363

 

297

317

20

0.38

0.10

0.07

0.56

0.24

M-07-363

 

329

345

16

1.17

0.25

0.11

1.53

0.79

M-07-364

W

150

154

4

0.84

0.26

0.11

1.22

0.14

M-07-365

W

161

171

10

0.77

0.23

0.11

1.11

0.16

M-07-366

Main

40

44

4

0.55

0.21

0.09

0.84

0.14

M-07-366

 

272

274

2

2.14

0.90

0.31

3.36

0.05

M-07-366

 

298

310

12

1.36

0.38

0.16

1.91

0.32

M-07-366

 

320

340

20

0.20

0.07

0.05

0.32

0.23

M-07-366

 

378

388

10

0.23

0.11

0.04

0.38

0.20

M-07-367

Main

56

78

22

0.42

0.11

0.05

0.57

0.03

M-07-368

W

53

61

8

0.41

0.14

0.06

0.61

0.23

M-07-368

 

129

147

18

1.53

0.87

0.08

2.48

0.07

includes

 

129

135

6

3.36

2.21

0.11

5.68

0.04

M-07-369

W

85

91

6

3.08

0.94

0.05

4.07

0.02

M-07-369

 

121

127

6

5.03

2.15

0.30

7.48

0.06


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. 

Drilling is continuing with two drilling rigs now concentrating on tracing the wider mineralization in the south end of the Main Zone to depth.  Th program at the Bird River Sill property is proceeding well with several geophysical targets ground checked and sampled.  Assay results from the drilling and trench work on the Marathon property as well as the Bird River Sill field samples are pending.  The turn around time for assay results has been much slower than expected.

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 Marathon PGM Corporation

The Company has a 100-per-cent interest in the Marathon PGM -- Cu project, located about 10 kilometers north of Marathon, Ont. 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 measured resource of 39.2 million tonnes containing 1.6 million ounces of PGM and gold and 285 million pounds of copper, and an indicated resource of 28.9 million tonnes containing 1.1 million ounces of PGM and gold and 178 million pounds 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.

In April 2007, Marathon entered into an option agreement with Gossan Resources on the Bird River Sill Ni-Cu and PGM property, located in Southeastern Manitoba.  Marathon is conducting exploration activities through 2007 at the Bird River Sill and will be drilling at the Page Zone in late autumn.

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 co uld 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, BIRD RIVER - ZN & CU ZONE, BIRD RIVER - NI ZONE, MARATHON 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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10/11/2007and Bird River Mines Inc., Announce an Option Agreement for ...
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8/24/2007acquires PGM-Ni-Cu property in the Steel Mountain Complex, N...
8/16/2007- CEO Interview
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7/12/2007discovers additional mineralization outside perimeter of exi...
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