Marathon Intersects 5.15 g/t Gold Over 29.2 Meters at the Golden Chest Mine, Idaho
07 9월 2011 - 8:00PM
PR Newswire (Canada)
TORONTO, Sept. 7, 2011 /CNW/ -- TORONTO, Sept. 7, 2011 /CNW/ -
Marathon Gold Corporation ("Marathon" or the "Company")
(MOZ:TSX) is pleased to announce a drill intercept of 29.2
meters of 5.15 g/t gold in drill hole GC 11-41T from the core
drilling program underway at the Golden Chest Mine. Current
open pit resource drilling continues to show good intercepts of
near-surface gold mineralization as well as the potential for very
high grade veins in the hanging-wall of the Idaho fault, as
evidenced by GC-11-41T which included a 0.9 meter interval of 137
g/t gold. Phillip Walford, President and CEO of Marathon commented:
"We are very pleased with the continuing results from Golden Chest
Mine and the 2011 exploration program. These results are
better than expected and are demonstrating the potential for a
robust open pit resource. The work is on target for an underground
and open pit resource by year end, followed by a 43-101 compliant
report." Surface core drilling at the Golden Chest is now focused
on drilling out the open pit target on a 25 meter by 25 meter grid
that extends for 250 meters north-south and approximately 150
meters east-west. It is expected that this grid drilling will
be completed in early October, and then drilling will focus on
stepping out from the grid in at least 50 meter increments.
Two drill rigs are currently working on the open pit resource
drilling with a goal of completing 10,000 meters of drilling this
year. The Golden Chest Mine is a 50/50 joint venture between
Marathon and New Jersey Mining Company. Marathon is currently
funding a $4,000,000 exploration program now underway primarily
consisting of underground and surface diamond drilling, where New
Jersey is the operator. All grades in this release are uncut, and
all thicknesses are estimated true thicknesses. Highlights: -- GC
11-41T returned 5.15 g/t gold over 29.2 meters from 18.0 to 58.0
meters, including 137.0 g/t gold over 0.9 meter at 21.1 meters down
the hole. Grains of visible gold were observed in this interval. --
GC 11-32 returned 2.96 g/t gold over 14.8 meters from 12.3 meters
down the hole. -- GC 11-37 returned 1.51 g/t gold over 27.9 meters
from 21.0 meters down the hole. -- GC 11-26 returned 1.48 g/t gold
over 26.6 meters from 19.2 meters down the hole.
___________________________________________________________ | DDH
|Resource|From|To (m)| Core | True |Gold | | | Target |(m) | |Width
(m)|Thickness (m)|(g/t)|
|________|________|____|______|_________|_____________|_____| |GC
11-26|Open Pit|19.2| 64.9 | 45.7 | 26.6 |1.48 | |
|________|____|______|_________|_____________|_____| |
|includes|28.2| 31.2 | 3.0 | 1.75 |12.0 |
|________|________|____|______|_________|_____________|_____| |GC
11-27|Open Pit|62.4| 77.9 | 15.5 | 12.4 |0.59 |
|________|________|____|______|_________|_____________|_____| |GC
11-29|Open Pit|73.9|102.5 | 28.6 | 19.5 |1.58 |
|________|________|____|______|_________|_____________|_____| |GC
11-30|Open Pit|91.2|112.2 | 21.0 | 15.4 |1.30 |
|________|________|____|______|_________|_____________|_____| |GC
11-31|Open Pit|4.5 | 10.5 | 6.0 | 6.0 |1.68 |
|________|________|____|______|_________|_____________|_____| |GC
11-32|Open Pit|12.3| 29.0 | 16.7 | 14.8 |2.96 |
|________|________|____|______|_________|_____________|_____| |GC
11-36|Open Pit|7.2 | 28.2 | 21.0 | 12.8 |0.44 |
|________|________|____|______|_________|_____________|_____| |GC
11-37|Open Pit|21.0| 50.0 | 29.0 | 27.9 |1.51 | |
|________|____|______|_________|_____________|_____| |
|includes|21.0| 33.8 | 12.8 | 12.3 |2.64 |
|________|________|____|______|_________|_____________|_____|
|GC11-41T|Open Pit|18.0| 58.0 | 40.0 | 29.2 |5.15 | |
|________|____|______|_________|_____________|_____| |
|includes|18.0| 30.4 | 12.4 | 9.0 |14.3 | |
|________|____|______|_________|_____________|_____| |
|includes|21.1| 22.3 | 1.2 | 0.9 |137.0| |
|________|____|______|_________|_____________|_____| |
|includes|41.5| 58.0 | 16.5 | 12.0 |1.68 |
|________|________|____|______|_________|_____________|_____|
|DDH05-01|Open Pit|3.6 | 23.3 | 19.7 | unknown |1.16 |
|________|________|____|______|_________|_____________|_____|
Note: Hole numbers missing in the sequence above are still
either in the process of being logged by geologists or awaiting
assay analysis. DDH05-01 was drilled in 2005, but was not assayed
until recently as the targets at the time were high-grade veins
amenable to underground mining. This intercept is significant
as it occurs in an area 380 meters north of the current
drilling. Drill hole GC 11-36 is also notable as it was
collared in the footwall of the Idaho vein in a quartzite unit of
rock, yet it indicates potentially economic levels of gold outside
of the Idaho vein envelope. 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. Phillip Walford, President and CEO
Marathon's Qualified Person for this project, has reviewed the
contents for accuracy and has approved this press release on behalf
of Marathon. About the Golden Chest Joint Venture On December 16,
2010, Marathon announced the formation of Golden Chest LLC
("GCLLC"), a joint venture with New Jersey Mining Company ("NJMC")
established to explore and develop the Golden Chest Mine. To
maintain its 50% interest, Marathon has agreed to make a total of
US $4,000,000 in funding contributions. Marathon is not
obligated to make any payments. If Marathon fails to make any
payments, its interest in GCLLC will be diluted. Under the terms of
the joint venture, NJMC is the operator. After Marathon has funded
the initial US $4,000,000, Marathon may elect to become the
operator by committing to spend an additional $3,500,000, thereby
increasing the interest in GCLLC to 60%. Micon International
conducted site visits during May and July 2011 in preparation for
planned resource estimate work and accompanying NI 43‐101 technical
report. 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 meters of
underground workings and has the necessary permits to drill and
operate underground. 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 at the 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, and 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
exploration and resource development 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 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. To
view this news release in HTML formatting, please use the following
URL:
http://www.newswire.ca/en/releases/archive/September2011/07/c8944.html
table border="0" valign="top" cellspacing="0" tr valign="top" td
align="left" bMarathon Gold Corporation /bbr/ br/ bPhillip
Walford, President & CEO/bbr/ bTel: 1-416-987-0711/b /td td
align="right" /td /tr /table p /p
Copyright
Marathon Gold (TSX:MOZ)
과거 데이터 주식 차트
부터 7월(7) 2024 으로 8월(8) 2024
Marathon Gold (TSX:MOZ)
과거 데이터 주식 차트
부터 8월(8) 2023 으로 8월(8) 2024