MOZ Marathon Gold Corporation

TORONTO, Aug. 10, 2011 /CNW/ -- TORONTO, Aug. 10, 2011 /CNW/ - Marathon Gold Corporation ("Marathon" or the "Company") (MOZ:TSX) is pleased to announce a drill intercept of 5.5 meters of 8.26 g/t gold (True Thickness) in drill hole GC 11-11 from the core drilling program underway at the Golden Chest Mine in Murray, Idaho. The Golden Chest Mine is owned 50% by Marathon, and 50% by New Jersey Mining Company ("NJMC") (OTCBB: NJMC) where NJMC is the operator. Drill hole GC 11-11 was one of thirteen drill holes that was part of the underground resource drilling that targeted the Idaho vein below the No. 3 Level.  The Idaho vein intercept in GC 11-11 is about 125 meters vertically below the No. 3 level, and 55 meters down dip of drill hole GC 11-2 which assayed 33.0 g/t across 2.6 meters (True Thickness). Open pit resource drilling continues to return good near surface intercepts, including GC 11-23R which returned 2.34 g/t over 16.1 meters (True Thickness) and GC 11-28 which returned 1.48 g/t over 22.7 meters (True Thickness).  The open pit drill results released to date cover a strike length of 100 meters on a property where gold mineralization has been traced on surface for 1,500 meters based on historical workings, drill holes and soil sampling. "Good surface to depth continuity of the Idaho vein is being proven by our 2011 drilling program. The initial results for the Idaho open pit resource area are demonstrating consistent good grades and continuity of near surface mineralization," said Phillip Walford, President and CEO of Marathon Gold Corp. Highlights: -- GC 11-11 returned 8.26 g/t gold over 5.5 m (true thickness) from 178.9 to 185.5 meters in further underground drilling of the Idaho vein. -- GC 11-23R returned 2.34 g/t gold over 16.1 m (true thickness) from 2.2 meters down the hole. -- GC 11-28 returned 1.48 g/t gold over 22.7 m (true thickness) from 18.4 meters down the hole. -- GC 11-21 returned 2.31 g/t gold over 12.9 m (true thickness) from 2.0 meters down the hole. Table 1 - Significant Drill Intersections at the Golden Chest Mine ____________________________________________________________________ | DDH* | Resource |From |To (m)|Core Width| True |Gold (g/t)| | | Target | (m) | | (m) |Thickness | | | | | | | | (m) | | |_________|____________|_____|______|__________|__________|__________| |GC 11-11 |U/G "H" Vein| 92.7| 94.5| 1.8| 0.9 | 5.10| | |____________|_____|______|__________|__________|__________| | |U/G Idaho |178.9| 185.5| 6.6| 5.5 | 8.26| | |Vein | | | | | | |_________|____________|_____|______|__________|__________|__________| |GC 11-20 |Open Pit | 15.4| 53.7| 38.3| 24.7 | 0.52| |_________|____________|_____|______|__________|__________|__________| |GC 11-21 |Open Pit | 2.0| 18.0| 16.0| 12.9 | 2.31| |_________|____________|_____|______|__________|__________|__________| |GC 11-22 |Open Pit | 2.0| 40.2| 38.2| 38.0 | 0.35| |_________|____________|_____|______|__________|__________|__________| |GC 11-23R|Open Pit | 2.2| 32.6| 30.4| 16.1 | 2.34| |_________|____________|_____|______|__________|__________|__________| |GC 11-25 |Open Pit | 17.3| 39.7| 22.4| 20.1 | 0.56| |_________|____________|_____|______|__________|__________|__________| |GC 11-28 |Open Pit | 18.4| 70.2| 51.8| 22.7 | 1.48| |_________|____________|_____|______|__________|__________|__________| |GC 11-35 |Open Pit | 52.6| 83.1| 30.5| 28.9 | 0.68| | |____________|_____|______|__________|__________|__________| | |includes | 52.6| 70.2| 17.6| 16.7 | 1.00| |_________|____________|_____|______|__________|__________|__________| * Note that hole numbers missing in the sequence above are still either in the process of being logged by geologists or awaiting assay analysis. Surface core drilling at the Golden Chest is now focused on drilling the open pit target on a 25 m by 25 m grid that extends for 250 meters north-south and approximately 150 meters east-west.  Two drill rigs are currently working on the open pit resource with the goal of completing 10,000 meters of drilling by the end of this year. All of the samples were analyzed by American Analytical of Osburn, Idaho, an ISO certified laboratory. Samples were analyzed using lead collection fire assay with a gravimetric finish.  Sherry Dunsworth, P.Geo. Vice President Exploration, is Marathon's Qualified Person in compliance with National Instrument 43-101 with respect to this release. Ms. Dunsworth has reviewed the contents for accuracy and has approved this press release on behalf of Marathon. 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 meters 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 497 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. About Marathon Gold Corporation: Marathon Gold Corporation is one of Canada's newest gold resource development companies, with projects located in the mining friendly province of Newfoundland and Labrador together with a project in the prolific Coeur d'Alene Mining District of Idaho.  Marathon has a project pipeline consisting of early stage exploration to advanced resource development projects. 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 [switch order] has an established record of delivering rapid growth.  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". 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'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. NEITHER THE TSX VENTURE EXCHANGE, NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/August2011/10/c2681.html p Marathon Gold Corporationbr/ br/ Phillip Walford, Pres., CEObr/ Tel: 1-416-987-0711 /p

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