Fermer X Les cookies sont necessaires au bon fonctionnement de 24hGold.com. En poursuivant votre navigation sur notre site, vous acceptez leur utilisation.
Pour en savoir plus sur les cookies...
AnglaisFrancais
Cours Or & Argent en
Juniper Resources Exercise their Option from Marathon Gold to Mine The Skookum Lode of the Golden Chest Mine
Published : November 27, 2013
( 0 vote, 0/5 ) Imprimer l'article
  Article Commentaires Commenter Notation Suivre la société  
0
envoyer
0
commenter
Mots clés associés :   Cœur D'alene | Jersey |

Juniper Resources Exercise their Option from Marathon Gold to Mine The Skookum Lode of the Golden Chest Mine

TORONTO, Nov. 27, 2013 /CNW/ - Marathon Gold Corporation ("Marathon" or the "Company") (TSX: MOZ) announced today that Juniper Resources ("Juniper") has exercised its right to mine the Skookum Lode at the Golden Chest Mine in north-eastern Idaho, USA under a lease agreement with Golden Chest LLC ("GCLLC"), the owner of the property.  GCLLC is owned by Marathon and New Jersey Mining Company ("NJMC"), who hold interests of 52.22% and 47.78% respectively.

Under the terms of the lease, Juniper will mine the Skookum Lode over a period of 36 months.  During this period, Juniper will pay quarterly instalments of US $125,000 on a promissory note due to the original vendor of the Golden Chest property, with the first such instalment falling due on December 15, 2013, and will pay Marathon and NJMC an advance royalty payment of US $200,000 on or before November 29, 2013 and quarterly 2% net smelter returns royalty payments, with the allocation of each payment being based on the interests of Marathon and NJMC in GCLLC at the time of each payment.

Highlights:

  • The deal is non-dilutive to existing shareholders
  • It monetizes a development asset which would require additional exploration and development spending to be brought into production, at a time when the equity markets are particularly weak
  • The agreement called for an advanced royalty payment of US $200,000 to be divided between Marathon Gold (52.2% ownership) and NJMC (47.8% ownership).
  • The payment of installments against the Beasley note by Juniper removes a significant holding cost from the property over a period of 3 years and could result in Juniper paying as much as US$1,500,00 over the life of the agreement
  • The terms of the option allow Marathon and NJMC to continue exploration activity in other parts of the property

"The exercise of this lease will provide ongoing cash flow to Marathon over the length of the lease and it will free up money that would otherwise be required to fund annual payments to the vendor of the Golden Chest mine. This savings and the additional royalty funds will allow us to focus developing additional resources on the Valentine Lake Property and move it towards a PEA," commented Phillip Walford, President and CEO of Marathon.

Phillip Walford P.Geo, President and CEO of Marathon, is Marathon's Qualified Person. Mr. Walford has reviewed the contents for accuracy and has approved this new release on behalf of Marathon.

About the Golden Chest Mine

The Golden Chest Mine is located two miles east of Murray, Idaho within the gold belt of the Coeur d'Alene Mining District. The mine has over 3,900 m of underground workings and has the permits necessary to drill and operate on the deposit. The property includes 24 patented mining claims and 70 unpatented mining claims covering 515 hectares. The patented claims that cover the mine workings have mineral and surface rights enabling the Joint-Venture to work easily on the Mine property.

The Golden Chest Mine has an existing NI 43-101 compliant open-pit and underground resource estimate.  The open-pit resource includes a measured resource of 1,317,000 tonnes grading 1.47 g/t Au, an indicated resource of 3,054,000 tonnes grading 1.64 g/t Au, and an additional inferred resource of 2,369,000 tonnes grading 1.33 g/t Au, all estimated using a 0.3 g/t cutoff.  The underground resource includes an indicated resource of 196,600 tonnes grading 3.11 g/t Au and an additional inferred resource of 738,300 tonnes grading 3.48 g/t Au, all estimated using a 2.0 g/t cutoff.

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.

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 or results otherwise.

SOURCE Marathon Gold Corporation

For further information:


Marathon Gold Corporation
Christopher Haldane
Investor Relations Manager
Tel: 1-416-987-0714
Email: chaldane@marathon-gold.com
www.marathon-gold.com

Données et statistiques pour les pays mentionnés : Jersey | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Jersey | Tous

Marathon gold Corp

EXPLORATEUR
CODE : MOZ.TO
ISIN : CA56580Q1028
Suivi et investissement
Add to watch list Add to your portfolio Add or edit a note
Ajouter une alerte Ajouter aux Watchlists Ajouter au portefeuille Ajouter une note
ProfilIndicateurs
de Marché
VALEUR :
Projets & res.
Communiqués
de Presse
Rapport
annuel
RISQUE :
Profile actifs
Contactez la cie

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.

Votre avis nous interesse, merci de laisser un commentaire ou de noter cet article.
Evaluer : Note moyenne :0 (0 vote) Voir les mieux notés
 
Dans les médias de Marathon gold Corp
22/11/2018Marathon Gold advances Marathon deposit with more drilling, ...
Financements de Marathon gold Corp
30/06/2015Closes First Tranche of $3.5M Financing
30/06/2015Closes First Tranche of $3.5M Financing
23/06/2015Announces $3.5 M Financing
12/05/2014Announces Closing of the First Tranche of Private Placement
22/04/2014Announces $2.5 M Financing
Rapports Financiers de Marathon gold Corp
12/11/2013Announces 2013 Q3 Financial Results
12/11/2012Announces 2012 Q3 Financial Results
12/11/2012Announces 2012 Q3 Financial Results
12/11/2012Announces 2012 Q3 Financial Results
29/03/2011Announces 2010 Financial Results
Projets de Marathon gold Corp
31/01/2012(Valentine Lake (leprechaun))Marathon Gold Hits New Gold Intersections with the Start of ...
25/08/2011(Valentine Lake (leprechaun))Marathon Discovers New Gold Bearing Quartz Veins with Grab S...
01/04/2011(Valentine Lake (leprechaun))Marathon Gold Hits 9.68 g/t Au over 12.8m (TW) including 23....
Communiqués de Presse de Marathon gold Corp
14/01/2016Marathon's Valentine Gold Camp Update and Q1 Plans
27/11/2015Marathon Gold Announces Closing of Flow-Through Financing
26/10/2015Marathon Defines 3 km Gold Corridor at the Victory Deposit A...
06/10/2015Exploration Success Continues at the Marathon Deposit; 8.89 ...
15/09/2015Marathon Discovers New High-Grade Gold Zone 550 Meters NE of...
09/09/2015Marathon Deposit Strike Length Doubles to 850 Meters, Valent...
10/08/2015Marathon Gold Announces Q2 2015 Financial Results
30/03/2015Deposit Continues to Expand in Advance of Resource Update, V...
02/03/2015Marathon Hits 3.02 g/t Au over 32.9 meters (TT) in Step-Out ...
17/02/2015The Marathon Gold Zone is now over 350m in Strike Length and...
17/02/2015The Marathon Gold Zone is now over 350m in Strike Length and...
02/02/2015Step out Drilling expands the strike length of the Marathon ...
12/01/2015Marathon Gold Step-Out Drills 2.11g/t Au over 27.5 meters (T...
07/01/2015Marathon Zone Continues Expanding with 2.01 g/t Au over 40.8...
07/01/2015Zone Continues Expanding with 2.01 g/t Au over 40.8 meters (...
10/12/2014Zone Growing with 4.13 g/t Au over 9.9m (TT) and 1.75 g/t A...
10/12/2014Marathon Zone Growing with 4.13 g/t Au over 9.9m (TT) and 1....
03/12/2014Marathon Reports High Metallurgical Process Recoveries of 92...
03/12/2014Reports High Metallurgical Process Recoveries of 92.8% to 95...
25/11/2014Marathon Zone Expanding with 2.74 g/t Au over 24.2m (TT), 2....
25/11/2014Zone Expanding with 2.74 g/t Au over 24.2m (TT), 2.71 g/t Au...
14/11/2014Marathon Gold Announces Q3 2014 Financial Results
04/11/2014Marathon Drills 4.14 g/t Au over 11.4 meters (TT) and 3.05 g...
04/11/2014Drills 4.14 g/t Au over 11.4 meters (TT) and 3.05 g/t Au ove...
30/10/2014Drills 1.71 g/t Au over 44.4 m (TT) in the Newly Discovered ...
30/10/2014Marathon Drills 1.71 g/t Au over 44.4 m (TT) in the Newly Di...
08/10/2014Marathon Announces Discovery of New High-Grade Gold Zone in ...
15/09/2014Marathon's Summer Drilling in the Sprite Zone Confirms Near ...
15/09/2014Summer Drilling in the Sprite Zone Confirms Near Surface Gol...
04/09/2014More Positive Results from Marathon's Rainbow and Sprite Zon...
04/09/2014More Positive Results from Marathon's Rainbow and Sprite Zon...
21/08/2014Marathon Gold Announces Closing of C$4.4 Million Equity Fina...
15/08/2014Marathon Gold Announces Q2 2014 Financial Results
05/08/2014Rambler Continues Its Investment in Marathon Gold
31/07/2014Marathon Gold Announces $3.0 Million Bought Deal, Unit and F...
23/07/2014Discovers New Gold Mineralized Trends over 2 Km at the Sprit...
10/07/2014Trenching and Prospecting Expands the Strike Length of the S...
24/06/2014Hits Gold in Channels 300m North of Leprechaun with 6.19 g/t...
18/06/2014discovers multiple high-grade mineralized veins 300 meters n...
17/04/2014Completes Successful Sprite Zone Winter Drilling Program, Va...
01/04/2014Drilling Expands the Sprite Zone with High-Grade, Near Surfa...
24/03/2014continues to succeed with drilling at the Sprite Area 2.53 g...
19/02/2014Drills New Gold Zone at Sprite Hitting 2.20 g/t Au over 16.8...
10/02/2014Announces Closing of Private Placement and Extension of Dril...
27/01/2014Hits Multiple Gold Intervals in Shallow Drilling at the Vict...
27/01/2014Hits Multiple Gold Intervals in Shallow Drilling at the Vict...
13/01/2014Launches 2014 Drilling Program at the Victory Gold Deposit
11/12/2013Completes Financing with Rambler and Announces Exploration P...
04/12/2013Enters into an Agreement With Rambler Metals and Mining to s...
27/11/2013Juniper Resources Exercise their Option from Marathon Gold t...
20/11/2013Step Out Channel Sampling at the Victory Gold Deposit Return...
03/04/2013Hits 4.14 g/t Au over 11.0 meters (TT) in Near-Surface Drill...
17/01/2013(Golden Chest)Reports NI- 43-101 Resource Estimate Update for the Golden C...
11/01/2013Intersects Near-Surface Gold Mineralization in the SW extens...
11/09/2012(Golden Chest)Extends High-Grade Gold Interval at the Golden Chest Mine, ...
08/09/2011Potential Open Pit Resource Continues to Expand at the Lepre...
30/08/2011Advances Resource Development with In-fill Drilling at the ...
09/06/2011(Golden Chest)Reports High Grade Drill Results from Golden Chest Mine, Ida...
29/03/2011Hits 9.68 g/t Au over 12.8m (TW) including 23.15 g/t Au over...
16/03/2011(Golden Chest)Announces High Grade Intercept of 33.0 g/t Gold Over 2.6 Met...
Publication de commentaires terminée
 
Dernier commentaire publié pour cet article
Soyez le premier à donner votre avis
Ajouter votre commentaire
TORONTO (MOZ.TO)
2,03+4.64%
TORONTO
CA$ 2,03
19/05 17:00 0,090
4,64%
Cours préc. Ouverture
1,94 1,97
Bas haut
1,95 2,04
Année b/h Var. YTD
1,93 -  3,17 -35,96%
52 sem. b/h var. 52 sem.
1,93 -  3,64 -34,09%
Volume var. 1 mois
191 906 -21,92%
24hGold TrendPower© : 27
Produit
Développe
Recherche Gold
 
 
 
Analyse
Interactive chart Add to compare
Graphique
interactif
Imprimer Comparer Exporter
Vous devez être connecté pour accéder au portefeuille (gratuit)
Top Newsreleases
LES PLUS LUS
Variation annuelle
DateVariationMaxiMini
2022-42,33%
202121,80%3,532,13
202071,01%2,990,71
2019125,33%1,760,76
2018-34,78%1,280,65
 
Graphique 5 ans
 
Graphique 3 mois
 
Graphique volume 3 mois
 
 
Nouvelles des Sociétés Minières
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
0,12 AU$-8,00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
8,08 AU$-1,58%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
3,08 AU$+4,76%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
3,84 AU$+0,00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
0,12 CA$+4,55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
0,02 CA$+100,00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
0,52 US$+4,00%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
0,20 US$-12,28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
0,73 GBX+3,11%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
0,02 CA$+0,00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
3,67 CA$+0,82%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
1,84 CA$+0,00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
10,79 CA$+6,41%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
0,29 CA$+0,00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
0,28 AU$+3,64%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
6,80 US$-2,86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
1,80 CA$+2,86%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
69,51 US$-1,00%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
8,66 CA$-0,35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
0,04 AU$+0,00%Trend Power :