Marathon Gold Intersects Wide Interval of Gold Mineralization in the Sprite Zone with 1.85 g/t Au over 20.0m including 16.86 g/t
04 5월 2011 - 8:00PM
PR Newswire (Canada)
TORONTO, May 4 /CNW/ -- TORONTO, May 4 /CNW/ - Marathon Gold
Corporation (MOZ-TSX) announced today the near surface intersection
of a wide interval of gold mineralization in the Sprite Zone,
located 700 m northeast along strike from the Leprechaun Gold
Deposit. Drill hole VL-11-264 intersected 1.85 g/t Au over 20.0m
including 16.86 g/t Au over 1.0m within 20m of the surface
(Figure - SZ). Previous historical drilling in the Sprite Zone had
returned additional significant gold values including 2.28g/t
Au over 36.51m including 10.6 m unsampled in the interval and
including 19.17 g/t over 3.0m in hole VL - 27. As well, VL-35
intersected 3.18 g/m over 4.1m and VL-40 had 3.01 g/t in hole VL-50
in 13 drill holes widely spaced over a 750 strike length. "The wide
near surface intercept is a good start to exploring in the Sprite
Zone. It has good potential to add to the gold resource on the
property. Exploration will start up again in a few weeks at
Valentine Lake and we are looking forward to an aggressive summer
exploration program," said Phillip Walford, President and CEO of
Marathon Gold Corporation. Highlights: -- The wide gold
intersection of 1.85 g/t Au over 20.0m with 16.86 g/t Au over 1.0
in VL-11-264 confirms the potential for additional near surface
mineralization as we plan future exploration drilling at the Sprite
Zone -- These new drill results show the continuation of near
surface gold mineralization, including wide intervals with
high-grade intercepts, in an area at least 700m to the northeast of
the current NE boundary of the Leprechaun Gold Deposit -- Future
drilling between the Leprechaun Gold Deposit and Sprite Zone will
explore the potential for development of an open pit that extends
the 700m beyond the current Leprechaun pit boundary into the Sprite
Zone TABLE 1: Significant Assay Intervals for the Sprite Zone
___________________________________________________________ | DDH
|Section|From (m)|To (m)|Core Width (m)|Gold (g/t)|
|_________|_______|________|______|______________|__________|
|VL-11-260| 11200 | 131 | 134 | 3 | 0.47 |
|_________|_______|________|______|______________|__________|
|VL-11-262| 11175 | 145 | 148 | 3 | 0.65 |
|_________|_______|________|______|______________|__________|
|VL-11-264| 11175 | 8 | 11 | 3 | 1.88 |
|_________|_______|________|______|______________|__________|
|VL-11-264| 11175 | 23 | 43 | 20 | 1.85 |
|_________|_______|________|______|______________|__________|
|including| 11175 | 28 | 29 | 1 | 16.86 |
|_________|_______|________|______|______________|__________|
|VL-11-264| 11175 | 61 | 72 | 11 | 0.45 |
|_________|_______|________|______|______________|__________|
|VL-11-267|11162.5| 66 | 71 | 5 | 0.65 |
|_________|_______|________|______|______________|__________|
|VL-11-267|11162.5| 95 | 98 | 3 | 0.55 |
|_________|_______|________|______|______________|__________|
|VL-11-270|11212.5| 37 | 41 | 4 | 0.56 |
|_________|_______|________|______|______________|__________|
|VL-11-270|11212.5| 73 | 76 | 3 | 1.02 |
|_________|_______|________|______|______________|__________|
|VL-11-277| 11200 | 38 | 41 | 3 | 0.73 |
|_________|_______|________|______|______________|__________|
|VL-11-279|11187.5| 29 | 36 | 7 | 0.89 |
|_________|_______|________|______|______________|__________|
|including|11187.5| 29 | 32 | 3 | 1.59 |
|_________|_______|________|______|______________|__________|
|VL-11-279|11187.5| 89 | 92 | 3 | 0.51 |
|_________|_______|________|______|______________|__________| Note:
(1) VL-11-272 abandoned due to loss of water, and (2) true widths
for the Sprite Prospect are unknown at this time. 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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and that objectives, strategic goals and priorities will not be
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to those identified and reported in Marathon Gold's public filings,
which may be accessed at www.sedar.com. Other than as
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table border="0" valign="top" cellspacing="0" tr valign="top" td
align="left" 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
/td td align="right" /td /tr /table p /p
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