Step Out Channel Sampling at the Victory Gold Deposit Returns Interval of 2.11 g/t Au over 18.18 meters
Published : November 20, 2013
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Gold |

Step Out Channel Sampling at the Victory Gold Deposit Returns Interval of 2.11 g/t Au over 18.18 meters

Figure 1: Location map of new channel intervals (using metallic sieve assay results), 300 meters NE along strike from the Victory Gold Deposit, Valentine Lake Property, Newfoundland. (CNW Group/Marathon Gold Corporation)

TORONTO, Nov. 20, 2013 /CNW/ - Marathon Gold Corporation ("Marathon" or the "Company") (TSX: MOZ) today announced wide intervals of gold mineralization in high-grade gold-bearing quartz-tourmaline-pyrite (QTP) veining 300 meters NE of the current resource boundary of the Victory Gold Deposit, Valentine Lake Project, Newfoundland (Figure 1). The new channel intervals, based on metallic screening gold assay results, included 2.11 g/t Au over 18.18 meters including 8.17 g/t Au over 2.96 meters. The channels were collected across dominant QTP-Au veining; over outcrop that returned grab samples ranging up to 140.97 g/t Au, 36.36 g/t Au and 24.16 g/t Au (Figure 1). The gold-bearing QTP veining at the Victory Gold Deposit is identical to the veining that characterizes the Leprechaun Gold deposit located 13 kilometers along strike to the southwest.

Highlights include:

  • Channel intervals, using metallic screening assay results, included 2.11 g/t Au over 18.18 meters with 8.17 g/t Au over 2.96 meters, 0.68 g/t Au over 9.55 meters with 1.45 g/t Au over 2.01 meters, and 0.75 g/t Au over 7.46 meters with 1.48 g/t Au over 2.96 meters.

  • The QTP-Au defined mineralizing corridor at the Victory Gold Deposit area has a current strike length in excess of 750 meters and a width of more than 200 meters (Figure 1). This corridor, which also includes gold intervals from historical drill holes, provides a highly prospective surface drilling target for future exploration programs at the Victory Gold Deposit area.

  • The Victory Gold Deposit alteration and gold bearing QTP veining appears identical to that which characterizes the Leprechaun Gold Deposit located 13 km along strike to the southwest.

"These wide intervals of gold mineralization in trenching 300 meters NE of the current Victory Gold Deposit resource boundary are very important as we plan for future shallow drilling and enlargement of the Victory open pit resource. These results as well as the first trenching results at the Sprite Zone underscore the highly prospective nature of the 17 km long corridor of gold occurrences along the Victory Lake thrust fault" said Phillip Walford, President and CEO of Marathon Gold.

In addition to the channel sampling undertaken to the northeast of the Victory Gold Deposit, Marathon carried out a short prospecting program on a mineral claim on the west side of the Valentine Lake Property.  Prospecting grab samples collected from two areas 670 meters apart and 1.7 km west of the Long Lake Cu-Au-Ag mineral occurrence returned gold values of up to 7.24 g/t Au, 6.66 g/t Au, 4.57 g/t Au, 2.90 g/t Au, and 2.58 g/t Au in felsic volcanic rocks of the Cambrian-Ordovician Victoria Lake Group, with base metal values ranging up to 0.18 % Cu, 0.04% Zn and 0.04% Pb. This mineralization is hosted by sulfide rich felsic volcanic rocks of the Cambrian-Ordovician Victoria Lake Group and is a different mineralizing system than that which formed the gold mineralization in the rest of the Valentine Lake property. The work was done for assessment purposes. The main focus of Marathon's exploration remains the 17 km long corridor from the Frank Zone to Victory in the Valentine Lake Intrusion.

All of the samples were analyzed at Eastern Analytical Laboratory Ltd., in Springdale, Newfoundland. Due to the course nature of some of the gold in the Victory trench samples, the metallic screening method was used after fire assays indicated intervals of possible economic importance. The Long Lake gold results were obtained by fire assay.

Sherry Dunsworth, M.Sc., P. Geo., VP of Exploration, Marathon's Qualified Person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon.

About Marathon Gold Corporation

Marathon is a Toronto based gold resource development company focused on the Valentine Lake property in central Newfoundland. Marathon's mission is to rapidly advance the Valentine Lake project towards advanced exploration and pre-development stages. For more information visit: www.marathon-gold.com.

About the Valentine Lake Project

The Valentine Lake property, owned 100% by Marathon Gold Corporation, hosts two well defined gold deposits with NI 43-101 compliant resources: the Leprechaun Gold Deposit and the Victory Gold Deposit. The Leprechaun Gold Deposit is located near the south-western end of the Valentine Lake property, and the Victory Gold Deposit is located 13 kilometers along strike to the north-east.  These gold deposits form part of a 23 km long, highly prospective gold-bearing mineralized corridor focused along the Valentine Lake Thrust Fault.

The Leprechaun Gold Deposit has a NI 43-101 compliant Open Pit and Underground Resource (refer to August 1, 2013 news release). The Open Pit Resource is Measured 3.5 million tonnes containing 247,000 oz Au, and Indicated 6.2 million tonnes containing 412,000 oz Au, and Inferred 1.2 million tonnes at 1.82 g/t Au containing 71,000 oz Au. The Underground Resource is Measured 108,000 tonnes containing 17,000 oz Au, and Indicated 764,000 tonnes containing 100,000 oz Au, and Inferred 349,000 tonnes containing 69,000 oz Au.

The Victory Gold Deposit (formerly Valentine East Hill) has an Open Pit Resource (refer to August 1, 2013 news release). The Open Pit Resource is Indicated 761,000 tonnes containing 41,000 oz Au, and Inferred 199,000 tonnes containing 9,000 oz Au. Both deposits are open to expansion.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to Marathon Gold Corporation, certain information contained herein constitutes "forward-looking statements". Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "intends", "targets", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes.  By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corporation's public filings, which may be accessed at www.sedar.com.  Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.

SOURCE Marathon Gold Corporation

Image with caption: "Figure 1: Location map of new channel intervals (using metallic sieve assay results), 300 meters NE along strike from the Victory Gold Deposit, Valentine Lake Property, Newfoundland. (CNW Group/Marathon Gold Corporation)". Image available at: http://photos.newswire.ca/images/download/20131120_C9003_PHOTO_EN_33582.jpg

For further information:


Christopher Haldane
Investor Relations Manager
Tel: 1-416-987-0714
E-mail: chaldane@marathon-gold.com

Marathon gold Corp

EXPLORATION STAGE
CODE : MOZ.TO
ISIN : CA56580Q1028
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Marathon Gold is a gold exploration company based in Canada.

Its main exploration properties are GOLDEN CHEST in USA and VALENTINE LAKE (LEPRECHAUN) in Canada.

Marathon Gold is listed in Canada. Its market capitalisation is CA$ 236.1 millions as of today (US$ 188.8 millions, € 165.4 millions).

Its stock quote reached its highest recent level on December 02, 2010 at CA$ 5.25, and its lowest recent point on November 27, 2015 at CA$ 0.11.

Marathon Gold has 118 660 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
In the News and Medias of Marathon gold Corp
11/22/2018Marathon Gold advances Marathon deposit with more drilling, ...
Financings of Marathon gold Corp
6/30/2015Closes First Tranche of $3.5M Financing
6/30/2015Closes First Tranche of $3.5M Financing
6/23/2015Announces $3.5 M Financing
5/12/2014Announces Closing of the First Tranche of Private Placement
4/22/2014Announces $2.5 M Financing
Financials of Marathon gold Corp
11/12/2013Announces 2013 Q3 Financial Results
11/12/2012Announces 2012 Q3 Financial Results
11/12/2012Announces 2012 Q3 Financial Results
11/12/2012Announces 2012 Q3 Financial Results
3/29/2011Announces 2010 Financial Results
Project news of Marathon gold Corp
1/31/2012(Valentine Lake (leprechaun))Marathon Gold Hits New Gold Intersections with the Start of ...
8/25/2011(Valentine Lake (leprechaun))Marathon Discovers New Gold Bearing Quartz Veins with Grab S...
4/1/2011(Valentine Lake (leprechaun))Marathon Gold Hits 9.68 g/t Au over 12.8m (TW) including 23....
Corporate news of Marathon gold Corp
1/14/2016Marathon's Valentine Gold Camp Update and Q1 Plans
11/27/2015Marathon Gold Announces Closing of Flow-Through Financing
10/26/2015Marathon Defines 3 km Gold Corridor at the Victory Deposit A...
10/6/2015Exploration Success Continues at the Marathon Deposit; 8.89 ...
9/15/2015Marathon Discovers New High-Grade Gold Zone 550 Meters NE of...
9/9/2015Marathon Deposit Strike Length Doubles to 850 Meters, Valent...
8/10/2015Marathon Gold Announces Q2 2015 Financial Results
3/30/2015Deposit Continues to Expand in Advance of Resource Update, V...
3/2/2015Marathon Hits 3.02 g/t Au over 32.9 meters (TT) in Step-Out ...
2/17/2015The Marathon Gold Zone is now over 350m in Strike Length and...
2/17/2015The Marathon Gold Zone is now over 350m in Strike Length and...
2/2/2015Step out Drilling expands the strike length of the Marathon ...
1/12/2015Marathon Gold Step-Out Drills 2.11g/t Au over 27.5 meters (T...
1/7/2015Zone Continues Expanding with 2.01 g/t Au over 40.8 meters (...
1/7/2015Marathon Zone Continues Expanding with 2.01 g/t Au over 40.8...
12/10/2014Zone Growing with 4.13 g/t Au over 9.9m (TT) and 1.75 g/t A...
12/10/2014Marathon Zone Growing with 4.13 g/t Au over 9.9m (TT) and 1....
12/3/2014Reports High Metallurgical Process Recoveries of 92.8% to 95...
12/3/2014Marathon Reports High Metallurgical Process Recoveries of 92...
11/25/2014Zone Expanding with 2.74 g/t Au over 24.2m (TT), 2.71 g/t Au...
11/25/2014Marathon Zone Expanding with 2.74 g/t Au over 24.2m (TT), 2....
11/14/2014Marathon Gold Announces Q3 2014 Financial Results
11/4/2014Drills 4.14 g/t Au over 11.4 meters (TT) and 3.05 g/t Au ove...
11/4/2014Marathon Drills 4.14 g/t Au over 11.4 meters (TT) and 3.05 g...
10/30/2014Drills 1.71 g/t Au over 44.4 m (TT) in the Newly Discovered ...
10/30/2014Marathon Drills 1.71 g/t Au over 44.4 m (TT) in the Newly Di...
10/8/2014Marathon Announces Discovery of New High-Grade Gold Zone in ...
9/15/2014Summer Drilling in the Sprite Zone Confirms Near Surface Gol...
9/15/2014Marathon's Summer Drilling in the Sprite Zone Confirms Near ...
9/4/2014More Positive Results from Marathon's Rainbow and Sprite Zon...
9/4/2014More Positive Results from Marathon's Rainbow and Sprite Zon...
8/21/2014Marathon Gold Announces Closing of C$4.4 Million Equity Fina...
8/15/2014Marathon Gold Announces Q2 2014 Financial Results
8/5/2014Rambler Continues Its Investment in Marathon Gold
7/31/2014Marathon Gold Announces $3.0 Million Bought Deal, Unit and F...
7/23/2014Discovers New Gold Mineralized Trends over 2 Km at the Sprit...
7/10/2014Trenching and Prospecting Expands the Strike Length of the S...
6/24/2014Hits Gold in Channels 300m North of Leprechaun with 6.19 g/t...
6/18/2014discovers multiple high-grade mineralized veins 300 meters n...
4/17/2014Completes Successful Sprite Zone Winter Drilling Program, Va...
4/1/2014Drilling Expands the Sprite Zone with High-Grade, Near Surfa...
3/24/2014continues to succeed with drilling at the Sprite Area 2.53 g...
2/19/2014Drills New Gold Zone at Sprite Hitting 2.20 g/t Au over 16.8...
2/10/2014Announces Closing of Private Placement and Extension of Dril...
1/27/2014Hits Multiple Gold Intervals in Shallow Drilling at the Vict...
1/27/2014Hits Multiple Gold Intervals in Shallow Drilling at the Vict...
1/13/2014Launches 2014 Drilling Program at the Victory Gold Deposit
12/11/2013Completes Financing with Rambler and Announces Exploration P...
12/4/2013Enters into an Agreement With Rambler Metals and Mining to s...
11/27/2013Juniper Resources Exercise their Option from Marathon Gold t...
11/20/2013Step Out Channel Sampling at the Victory Gold Deposit Return...
4/3/2013Hits 4.14 g/t Au over 11.0 meters (TT) in Near-Surface Drill...
1/17/2013(Golden Chest)Reports NI- 43-101 Resource Estimate Update for the Golden C...
1/11/2013Intersects Near-Surface Gold Mineralization in the SW extens...
9/11/2012(Golden Chest)Extends High-Grade Gold Interval at the Golden Chest Mine, ...
9/8/2011Potential Open Pit Resource Continues to Expand at the Lepre...
8/30/2011Advances Resource Development with In-fill Drilling at the ...
6/9/2011(Golden Chest)Reports High Grade Drill Results from Golden Chest Mine, Ida...
3/29/2011Hits 9.68 g/t Au over 12.8m (TW) including 23.15 g/t Au over...
3/16/2011(Golden Chest)Announces High Grade Intercept of 33.0 g/t Gold Over 2.6 Met...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (MOZ.TO)
1.99-1.97%
TORONTO
CA$ 1.99
08/11 17:00 -0.040
-1.97%
Prev close Open
2.03 2.02
Low High
1.98 2.06
Year l/h YTD var.
1.24 -  3.17 -37.22%
52 week l/h 52 week var.
1.24 -  3.64 -37.22%
Volume 1 month var.
178,169 56.69%
24hGold TrendPower© : 27
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2022-43.47%
202121.80%3.532.13
202071.01%2.990.71
2019125.33%1.760.76
2018-34.78%1.280.65
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.16+0.56%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.35-4.86%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 3.29-8.10%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.60+2.04%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.68+1.13%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 7.13+1.71%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.30+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.36+26.79%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.01-1.95%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 64.46+7.34%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :