Marathon hits high-grade palladium, Platinum and Rhodium in 2 holes, 1.9 metres of 108 g/t Pd, Pt, Rh and Au and 1.75 metres of 59 g/t Pd, Pt, Rh and Au.
Toronto, Ontario - February 16, 2007 - Marathon PGM Corporation ('the Company") (TSX - MAR) is very pleased to release the first 4 drill hole results from the 2007 drilling program on the Marathon PGM-Cu Project. The drill holes M-07-237 to M-07-240 were exploration holes drilled in the high-grade lens of the Malachite zone.
Hole |
From (m) |
To (m) |
Inter- section (m) |
Est. True thickness
(m) |
Pd (g/t) |
Pt (g/t) |
Rh
(g/t) |
Au (g/t) |
Total PGM +Au
(g/t) |
Cu (%)
|
Ag
(g/t) |
Ni
(ppm) |
M-07-237 |
184 |
202 |
18 |
15.75 |
3.94 |
3.37 |
0.13 |
0.02 |
7.46 |
0.01 |
2.56 |
113 |
includes |
194 |
202 |
8 |
7 |
0.95 |
0.55 |
0.03 |
0.01 |
1.54 |
0.01 |
2.25 |
123 |
|
184 |
186 |
2 |
1.75 |
30.7 |
27.7 |
0.97 |
0.09 |
59.4 |
0.01 |
3.00 |
120 |
M-07-238 |
227 |
231 |
4 |
2.8 |
1.16 |
0.48 |
0.04 |
0.02 |
1.69 |
0.02 |
1.00 |
102 |
|
263 |
269 |
6 |
4.2 |
0.72 |
0.51 |
0.02 |
0.02 |
1.27 |
0.01 |
1.00 |
90 |
M-07-239 |
162 |
176 |
14 |
13.4 |
10.2 |
5.9 |
0.17 |
0.12 |
16.3 |
0.02 |
0.93 |
65 |
includes |
164 |
166 |
2 |
1.9 |
67.4 |
39.1 |
1.04 |
0.76 |
108.3 |
0.02 |
0.50 |
60 |
M-07-240 |
112 |
118 |
6 |
5.3 |
1.22 |
0.46 |
0.01 |
0.28 |
1.96 |
0.13 |
2.00 |
116 |
The combined PGM+Au values of 59.4 and 108.3 g/t in holes M-07-237 and M-07-239, respectively, are the highest ever recorded in the Coldwell Complex. The intersections are a result of exploration to extend the northern limits of the high grade W zone. The extremely high values also confirm the trend of increasing grades from south to north as recognized in last years drilling. The W zone strikes approximately north to south and dips 35o to the west from surface to a depth of 250 metres. Exploration of the W zone is continuing to the north and west through a combination of
Diamond drilling and a deep IP geophysical survey. A second drill is helping to define the southern extent of the RD zone and also to explore the SG zone, which was identif!
ied in the 2006 trenching program.
"The high-grade W zone contains exceptionally high palladium, platinum and rhodium values relative to copper. A geochemical model that explains these ratios has helped us to devise an exploration strategy to continue to expand the zone. The location of these intersections along strike was expected, and although we have noted an increase in the palladium and platinum values as we move north, the extremely high values were a surprise," said David Good, VP Exploration.
Phillip Walford, President and CEO of the Company, added, "These unprecedented results prove the continuity of the W zone to depth and add another dimension to the current feasibility study".
As a part of Marathon's QC program, the high-grade samples were analysed multiple times in order to confirm the high grades. 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. A major drilling program is underway to expand the resource on the property.
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, 2005. Circumstances or management's estimates or opinions could change, and management disclaims any obligation to revi!
se 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 the board of Directors,
"Phillip C. Walford"
Phillip C. Walford
President, Chief Executive Officer
info@marathonpgm.com
416-987-0711
For more information, please contact:
Renmark Financial Communications Inc.
Jason Roy: jroy@renmarkfinancial.com
Barbara Komorowski: bkomorowski@renmarkfinancial.com
Media - Vanessa Napoli: vnapoli@renmarkfinancial.com
Tel: (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com