Marathon Gold intersects 2.57 g/t Au over 20.25m (TW) including 16.55 g/t Au over 2.25m (TW) near surface at the Leprechaun Gold
26 4월 2011 - 8:30PM
PR Newswire (Canada)
TORONTO, April 26 /CNW/ -- TORONTO, April 26 /CNW/ - Marathon Gold
Corporation (MOZ:TSX) ("Marathon" or "the Company") announced today
the near surface intersection of a wide interval of gold
mineralization at the Leprechaun Gold Deposit; the first defined
gold resource within the highly prospective Valentine Lake Property
in central Newfoundland. Drill hole VL-11-282 intersected 2.57 g/t
Au over 20.25m, including 16.55 g/t Au over 2.25m, within 25m of
the surface (Figure - LP). Other significant near surface
intersections included 1.33 g/t Au over 9.6m with 5.53 g/t Au over
1.6m in VL-11-263 and 1.39 g/ Au over 6.7m with 4.79 g/t Au over
0.95m in VL-11-283. The Valentine Lake Project is a 50/50 venture
between Marathon and Mountain Lake. "We are delighted with the
discovery of this new near surface mineralization. The wide
dilation lenses that we have encountered this year are typical of
the Leprechaun Gold Deposit and contain most of its gold resource",
said Phillip Walford, President and CEO of Marathon Gold
Corporation. Highlights: -- The wide gold intersection of 2.57 g/t
Au over 20.25m with 16.55 g/t Au over 2.25 in VL-11-282 confirms
the potential for significant additional near surface
mineralization as we continue with future in-fill and step out
drilling at the Leprechaun Gold deposit -- These new drill results
show the continuation of near surface gold mineralization,
including wide intervals with high-grade intercepts, over more than
a 200m strike length along the eastern margin of the Leprechaun
Gold Deposit -- This new mineralization will effectively extend the
limit of the pit boundary eastward into the footwall sediments --
Drilling has ceased for the spring break-up but will resume in the
spring when the remaining 18,000 m of the program will begin. TABLE
1: New Assay Intervals for the Leprechaun Gold Deposit*, **
__________________________________________________________________
| | | | | |Core | | | | | | | | |Width|True Width| | | DDH
|Section|Zone|From (m)|To (m)| (m) | (m) |Gold (g/t)|
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-263| 10450 | MZ | 32 | 44 | 12 | 9.6 | 1.33 |
|_________|_______|____|________|______|_____|__________|__________|
|including| 10450 | MZ | 32 | 34 | 2 | 1.6 | 5.53 |
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-263| 10450 | MZ | 59 | 62 | 3 | 2.4 | 0.93 |
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-263| 10450 | MZ | 69 | 82 | 13 | 10.4 | 1.07 |
|_________|_______|____|________|______|_____|__________|__________|
|including| 10450 | MZ | 70 | 71 | 1 | 0.8 | 10.63 |
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-265| 10500 | MZ | 4 | 9 | 5 | 4 | 1.89 |
|_________|_______|____|________|______|_____|__________|__________|
|including| 10500 | MZ | 6 | 7 | 1 | 0.8 | 8.48 |
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-271|10487.5| MZ | 22 | 25 | 3 | 2.4 | 2.48 |
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-271|10487.5| MZ | 40 | 43 | 3 | 2.4 | 2.74 |
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-275|10437.5| MZ | 26 | 29 | 3 | 2.4 | 1.43 |
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-276| 10425 | MZ | 27 | 36 | 9 | 6.3 | 0.86 |
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-278|10412.5| MZ | 9 | 12 | 3 | 2.4 | 0.83 |
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-278|10412.5| MZ | 25 | 28 | 3 | 2.4 | 7.69 |
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-280| 10400 | MZ | 55 | 61 | 6 | 4.8 | 2.28 |
|_________|_______|____|________|______|_____|__________|__________|
|including| 10400 | MZ | 60 | 61 | 1 | 0.8 | 9.06 |
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-280| 10400 | MZ | 69 | 72 | 3 | 2.4 | 1.33 |
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-280| 10400 | MZ | 88 | 95 | 7 | 5.6 | 0.56 |
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-282| 10300 | MZ | 12 | 39 | 27 | 20.25 | 2.57 |
|_________|_______|____|________|______|_____|__________|__________|
|including| 10300 | MZ | 22 | 25 | 3 | 2.25 | 16.55 |
|_________|_______|____|________|______|_____|__________|__________|
|VL-11-283|10312.5| MZ | 15 | 22 | 7 | 6.7 | 1.39 |
|_________|_______|____|________|______|_____|__________|__________|
|including|10312.5| MZ | 21 | 22 | 1 | 0.95 | 4.79 |
|_________|_______|____|________|______|_____|__________|__________|
Estimated true widths, MZ = main zone * VL-11-266, VL-11-268,
VL-11-269, VL-11-273, VL-11-274, VL-11-281 and VL-11-284 did not
return any significant assay intervals. **VL-11-260, VL-11-262,
VL-11-264, VL-11-267, VL-11-270, VL-11-272, VL-11-277 and VL-11-279
were drilled in the Sprite Zone and will be the subject of a
forthcoming Press Release. All of the samples were analyzed at
Eastern Analytical Laboratory Ltd., in Springdale, Newfoundland.
Samples were assayed using lead collection fire assay with AA
(atomic absorption) finish. Results from fire assay are used for
drill hole planning only. Assay results for the future updates of
the December, 2010 resource will be determined by an ongoing
metallic screening process. Due to the coarse nature of the gold at
the Leprechaun Deposit, the metallic screening method is used on
economically important intersections using standard fire assay
techniques. The reported values in this release are fire assay
results. About the Valentine Lake Joint Venture: The Valentine Lake
Project is a 50/50 joint venture between Marathon Gold and Mountain
Lake. The Leprechaun Gold Deposit is situated at the south-western
end of the Valentine Lake Property and the Valentine East Gold Zone
is located 13 km along strike running in a north-easterly
direction. These gold occurrences form part of a 23 km long,
highly prospective gold-bearing mineralized corridor. Marathon is
the operator of the Project, and the companies have agreed to
jointly fund a $6 million budget in 2011 that will include a
planned 25,000 metres of drilling. Leprechaun Deposit: The
Leprechaun Deposit has a new (News release, December 16, 2010) NI
43-101 compliant Measured and Indicated Resource of 3,284,000
tonnes grading 2.62 g/t gold for a total estimated 277,000 ounces
of gold. The inferred mineral resource is 4,409,000 tonnes grading
2.01 g/t gold for an estimated 285,000 ounces of gold. The new
resource was estimated using a 0.5 g/t gold minimum cut-off over a
3 meter minimum width. The Leprechaun Gold Deposit is open at depth
and along strike with 74% of the current M & I ounces occurring
within 150m of surface. 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
Corporation ("Marathon") is one of Canada's newest gold resource
development companies, with projects located in the mining friendly
province of Newfoundland and Labrador and now a project in the
prolific Coeur d'Alene Mining District of Idaho. Marathon has
a tiered project pipeline consisting of early stage exploration to
advanced resource development projects that may be built into
mineable reserves. Marathon is continually evaluating new
gold resource development projects of merit that are located within
the Americas. Marathon's focused and low-cost approach to
resource development and exploration has an established record of
delivering rapid growth. Marathon is the operator of the
Valentine Lake Project under the joint venture with MOA. For
more information visit: www.marathon-gold.com CAUTIONARY STATEMENT
REGARDING FORWARD-LOOKING INFORMATION Except for statements of
historical fact relating to Marathon Gold, certain information
contained herein constitutes "forward-looking statements".
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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'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
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VENTURE EXCHANGE, NOR ITS REGULATION SERVICES PROVIDER (AS THAT
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p Marathon Gold Corporationbr/ Joanna Longobr/ President, Terre
Partnersbr/ 1 (416) 238 1414 ext. 233br/ Email: a
href="mailto:jlongo@terrepartners.com"jlongo@terrepartners.com/a /p
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