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Marathon gold Corp

Publié le 25 novembre 2014

Marathon Zone Expanding with 2.74 g/t Au over 24.2m (TT), 2.71 g/t Au over 16.5 m (TT), and 2.58 g/t Au over 15.4 m (TT), Valentine Gold Camp

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Marathon Zone Expanding with 2.74 g/t Au over 24.2m (TT), 2.71 g/t Au over 16.5 m (TT), and 2.58 g/t Au over 15.4 m (TT), Valentine Gold Camp

TORONTO , Nov. 25, 2014 /CNW/ - Marathon Gold Corporation ("Marathon" or the "Company") (MOZ.TO) today announced very positive results from continued drilling (MA-14-004 to MA-14-009) at the newly discovered gold-rich Marathon Zone, 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). The gold mineralization is hosted within multiple stacked, quartz-tourmaline-pyrite (QTP) veining, identical in appearance to the gold-bearing veining found throughout the rest of the Valentine Gold Camp.

The new drill holes MA-14-004 to MA-14-009 have intersected wide intervals of gold mineralization enclosing narrower high-grade ore shoots over a more than 120 meter strike length and confirm the existence of a major QTP-gold veining system. The drill holes MA-14-001 to MA-14-009 define what currently appears to be a near vertical gold mineralized corridor ranging from 50 to 80 meters in true width and currently drilled to a vertical depth of up to 200 meters. The zone is open along strike and at depth with assays pending from additional drill holes MA-14-010 to MA-14-017 (Figure 1).  

Drilling continues at the Marathon Zone and the discovery of QTP-gold bearing veining in outcrop and new trenching for up to 2 kilometers along strike northeast into the Narrows and Triangle Zones continue to provide additional drill-ready targets. Channel results from these new trenches are pending.

Highlights:

  • New wide intervals of gold mineralization include 2.74 g/t Au over 24.2 meters (true thickness) (TT) in MA-14-009, 2.71 g/t Au over 16.5 meters (TT) and 2.35 g/t Au over 11.6 meters (TT) in MA-14-005, 2.58 g/t Au over 15.4 meters (TT) in MA-14-006 and 2.50 g/t Au over 5.50 meters (TT) in MA-14-004.

  • New narrow, high-grade gold intervals include 49.28 g/t Au over 0.6 meters (TT ) in MA-14-006, 35.72 g/t Au over 0.6 meters (TT), 6.65 g/t Au over 1.7 meters (TT ) and 5.99 g/t Au over 2.20 meters (TT ) in MA-14-009, and 10.26 g/t Au over 0.6 meters (TT), 10.01 g/t Au over 0.6 meters (TT ), 7.61 g/t Au over 3.9 meters (TT) and 7.20 g/t Au over 0.6 meters (TT) in MA-14-005.

  • These first nine drill holes into the Marathon Zone have intersected an area of multiple stacked gold-bearing QTP veining that defines a near vertical mineralized corridor that is currently up to 80 meters wide and 200 meters deep, and is open along strike to both the southwest and northeast. Assays are pending for additional drill holes MA-14-010 to MA-14-017.

  • Drilling currently ongoing at the Marathon Zone is designed to further increase the strike length of this new gold-rich zone and quickly develop significant new open-pit resource(s) in this area proximal to the Valentine Lake Thrust Fault, Valentine Gold Camp.

  • Marathon plans to continue focused drilling in the Marathon Zone until drilling ends in early December, review the results and then resume drilling at the Marathon Zone and test the other targets along strike of the Marathon Zone in early January, 2015.

"We are extremely pleased as we continue to intersected additional wide intervals of good grade Au in each new drill hole in the Marathon Zone", said Phillip Walford , President and CEO of Marathon. "The mineralized corridor is wide, continues open along strike and at depth, and is returning very good open pit grades. The Marathon Zone is certainly shaping up to be the most promising mineralized area found to date in the Valentine Gold Camp outside of the Leprechaun Gold Deposit. The Marathon Zone is one of several drill targets along a 2km strike that gives this entire area a high priority for further work. We are rapidly moving towards the development of another open pit gold resource in the Valentine Gold Camp".

TABLE 1: Significant assay intervals from the Marathon Zone drill holes MA-14-004 to MA-14-009

DDH*

Section

From

To

Core Length (m)

TT (m)

Gold (g/t) (uncut)

MA-14-004

17170

8

12

4

2.2

1.93



19

31

12

6.6

1.26

including


26

27

1

0.6

5.51



43

46

3

1.7

1.43



52

61

9

5.0

0.98



74

84

10

5.5

2.50

MA-14-005

17200

80

110

30

16.5

2.71

including


93

100

7

3.9

7.61



129

150

21

11.6

2.35

including


129

130

1

0.6

10.01

including


134

135

1

0.6

10.26

including


145

146

1

0.6

7.20



173

176

3

1.7

1.28



189

192

3

1.7

4.83



200

204

4

2.2

2.02

MA-14-006

17250

23

26

3

1.7

1.34



97

125

28

15.4

2.58

including


100

101

1

0.6

49.28



135

138

3

1.7

1.44

MA-14-007

17250

20

23

3

1.7

1.74



32

35

3

1.7

1.47



63

69

6

3.3

1.52

MA-14-008

17250

108

112

4

2.2

2.45

MA-14-009

17280

49

52

3

1.7

2.35



70

114

44

24.2

2.74

including


85

88

3

1.7

6.65

including


93

97

4

2.2

5.99

including


100

101

1

0.6

35.72

*Assays pending for MA-14-010 to MA-14-017

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

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 Lake Property located in central Newfoundland . The Valentine Lake Property 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, which are open along strike and to depth, cover less than 5% of the total length of the highly prospective 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 Lake Property. 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: Location map showing the location of the new DDH's MA-14-004 to MA-14-009, previously released DDH's MA-14-001 to MA-14-003, proposed DDH's and 2014 channel and grab samples. (CNW Group/Marathon Gold Corporation)". Image available at: http://photos.newswire.ca/images/download/20141125_C7443_PHOTO_EN_8464.jpg

Lire la suite de l'article sur finance.yahoo.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 216,0 millions CA$ (172,7 millions US$, 151,3 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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