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Marathon Deposit Continues to Expand in Advance of Resource Update, Valentine Gold Camp, Newfoundland
Published : March 30, 2015
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Marathon Deposit Continues to Expand in Advance of Resource Update, Valentine Gold Camp, Newfoundland

Figure 1: Map showing the location of the new DDH's MA-15-037 to MA-15-047, previously released DDH's MA-14-001 to MA-15-036, and mineralized corridors of the Marathon Deposit, Valentine Gold Camp. (CNW Group/Marathon Gold Corporation)

TORONTO, March 30, 2015 /CNW/ - Marathon Gold Corporation ("Marathon" or the "Company") (TSX: MOZ) today announced positive results from the last drill holes of the winter 2015 drilling campaign at the new Marathon Gold Deposit, located 7 kilometers northeast along strike from the Leprechaun Gold Deposit and 5 kilometers southwest along strike from the Victory Gold Deposit, Valentine Gold Camp (Figure 1). This new deposit consists of dominantly shallow southwest dipping, multiple vertical stacked gold-bearing quartz-tourmaline-pyrite (QTP) tensional veining identical in appearance to the gold-bearing QTP veining found elsewhere throughout the Valentine Gold Camp. A resource update will be completed in the second quarter of 2015.

These latest drill holes into the Marathon Gold Deposit have succeeded in both expanding the dimensions of the Main mineralizing corridor and further defining a new South mineralized corridor (Figure 1). New drill intercepts in the Main mineralized corridor included 2.85 g/t Au over 12.4 meters true thickness (TT) in MA-15-038, 1.03 g/t Au over 25.8 meters (TT) in MA-15-043, and 1.64 g/t Au over 12.6 meters (TT) in MA-15-046. New near-surface high-grade gold intercepts in the South mineralized corridor included 9.28 g/t Au over 2.6 meters.

The Main Marathon corridor has a current strike length of over 350 meters, a true width ranging from 50 to 100 meters, and a vertical depth of more than 200 meters with a second near surface mineralized corridor developing closer to the Valentine Lake Thrust Fault (Figure 1). Both the Main and South mineralized corridors are open along strike and to depth.

Highlights (all drill intercepts reported at true thickness):

  • Drilling along the Main mineralized corridor intersected 2.85 g/t Au over 12.4 meters with 6.51 g/t Au over 3.9 meters in MA-15-038, 1.03 g/t Au over 25.8 meters with 10.28 g/t Au over 0.6 meters and 5.59 g/t Au over 0.6 meters in MA-15-043, and 1.64 g/t Au over 12.6 meters (TT) in MA-15-046.
  • Near surface drilling in the South mineralized corridor intersected 9.28 g/t Au over 2.6 meters and 1.23 g/t Au over 2.0 meters in MA-15-047 and 7.06 g/t Au over 2.1 meters in MA-15-037.
  • All drill holes (MA-14-001 to MA-15-047) have intersected multiple stacked, gold-bearing quartz-tourmaline-pyrite veining and confirm a Main mineralized corridor with a current strike length in excess of 350 meters, a true width that ranges from 50 to 100 meters and a vertical depth in excess of 200 meters (Figure 1).
  • Micon International is currently completing new open pit resources for the Marathon and Sprite Deposits as well as updating the Victory deposit resource. The Valentine Gold Camp currently has a resource of 816,000 oz Au (M&I) grading 2.24 g/t and 149,000 oz Au (Inferred) grading 2.64 g/t, almost all of which is open pit resource in the Leprechaun Deposit.

"The success of our winter 2015 drilling campaign at the Marathon Deposit further supports the untapped potential of the Valentine Gold Camp. We have over 5 kilometers of gold showings to the northeast of the current Marathon deposit, 5 kilometers of bog-cover prospective ground immediately to the southwest and numerous potential parallel zones around the Marathon Deposit. All of these areas are yet to be drill tested and will be an integral part of the ongoing development of Valentine Gold Camp." said Phillip Walford, President and CEO of Marathon.

TABLE 1: Significant assay intervals from the Marathon Deposit drill holes MA-15-037 to MA-15-047.

DDH

Section

Zone

From

To

Core
Length

(m)

True
Width

(m)*

Gold (g/t)
(Uncut)

MA-15-037

17265

SOUTH

35

38

3

2.1

7.06



MAIN

78

81

3

2.1

7.64



MAIN

101

104

3

2.1

2.07



MAIN

143

147

4

2.8

1.04



MAIN

165

175

10

7.0

1.87

MA-15-038

17370

MAIN

80

83

3

2.0

2.00



MAIN

180

199

19

12.4

2.85

including



184

190

6

3.9

6.51



MAIN

224

227

3

2.0

1.76

MA-15-039

17315

MAIN

88

91

3

2.1

1.19



MAIN

178

181

3

2.1

1.03

MA-15-040

17210

MAIN

114

126

12

7.2

1.64



MAIN

132

136

4

2.4

1.50

MA-15-041

17400

MAIN

68

71

3

2.1

1.81

MA-15-042

17400

SOUTH

43

46

3

2.0

1.06



SOUTH

76

79

3

2.0

1.50

MA-15-043

17330

SOUTH

3

6

3

1.8

1.08



MAIN

108

111

3

1.8

3.85



MAIN

190

233

43

25.8

1.03

including



215

216

1

0.6

10.28

including



227

228

1

0.6

5.59

MA-15-044

17400

SOUTH

63

66

3

2.0

1.22

MA-15-045

17090

MAIN

10

16

6

3.9

5.19

including



11

12

1

0.7

24.29

MA-15-046

17130

MAIN

10

13

3

2.1

2.60



MAIN

19

37

18

12.6

1.64

MA-15-047

17130

SOUTH

51

55

4

2.6

9.28

including



54

55

1

0.7

34.72



SOUTH

72

75

3

2.0

1.23

*TT-Denotes true thickness

All of the samples were fire assayed at Eastern Analytical Laboratory Ltd., in Springdale, Newfoundland.

Marathon Gold Corporation acknowledges the financial support of the JEA Program, Department of

Natural Resources, Government of Newfoundland and Labrador.

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 Gold is a Toronto based gold resource company with exploration focused on its 100% owned Valentine Gold Camp located in central Newfoundland. The Valentine Gold Camp currently hosts two near-surface, mainly pit-shell constrained, NI 43-101 compliant gold resources totaling 816,000 oz. gold at 2.24 g/t (Measured & Indicated) and 149,000 oz. gold at 2.64 g/t (Inferred), (August, 2013). These resources, open along strike and to depth, cover less than 5% of the total length of the highly perspective Valentine Lake Thrust Fault and associated splay faults which host the majority of the gold mineralization within the property. Newly discovered gold zones, including the Sprite Zone and Marathon Zone, have returned wide intervals of near-surface good gold grades and have yet to be incorporated into new gold resources for the Valentine Gold Camp. For more information please visit www.marathon-gold.com

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: Map showing the location of the new DDH's MA-15-037 to MA-15-047, previously released DDH's MA-14-001 to MA-15-036, and mineralized corridors of the Marathon Deposit, Valentine Gold Camp. (CNW Group/Marathon Gold Corporation)". Image available at: http://photos.newswire.ca/images/download/20150330_C6353_PHOTO_EN_13685.jpg

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

Marathon gold Corp

EXPLORATEUR
CODE : MOZ.TO
ISIN : CA56580Q1028
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Marathon Gold est une société d’exploration minière d'or basée au Canada.

Ses principaux projets en exploration sont GOLDEN CHEST en USA et VALENTINE LAKE (LEPRECHAUN) au Canada.

Marathon Gold est cotée au Canada. Sa capitalisation boursière aujourd'hui est 240,9 millions CA$ (192,6 millions US$, 168,7 millions €).

La valeur de son action a atteint son plus haut niveau récent le 02 décembre 2010 à 5,25 CA$, et son plus bas niveau récent le 27 novembre 2015 à 0,11 CA$.

Marathon Gold possède 118 660 000 actions en circulation.

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