Marathon Gold Expands Leprechaun Gold Deposit with Intercepts of 5.99 g/t Au over 10.8 m and 3.69 g/t Au over 12.4 m
27 10월 2011 - 8:00PM
PR Newswire (Canada)
TORONTO, Oct. 27, 2011 /CNW/ - Marathon Gold Corporation
("Marathon" or the "Company") announces continued success with the
intersection of high grade, mineralization, in the "Heart of Gold"
area of the Leprechaun Gold Deposit (Figure 1). Significant new
main zone intercepts include 5.99 g/t Au over 10.8 meters including
28.88 g/t Au over 1.8 meters in VL-11-345, and 3.69 g/t Au over
12.4 meters including 39.80 g/t Au over 1.0 meter in VL-11-343.
"Our exploration initiatives have proven advantageous for Marathon.
As we approach the end of our 2011 drill program, we continue to
discover wide intervals of high grade mineralization as well as
significant hanging wall and foot wall mineralization. These new
high grade gold intercepts will have a positive impact on the new
Leprechaun Gold Deposit resource which is on track for release in
the fourth quarter of 2011", said Phillip Walford, President and
CEO of Marathon Gold Corporation. The Valentine Lake Project,
including the Leprechaun Gold Deposit, is a 50/50 Joint Venture
between Marathon and Mountain Lake Resources Inc. Both companies
are equal contributors to the 25,000 m drilling program in which
Marathon is the operator. All grades in this release are
uncut, and all thicknesses are estimated true thicknesses. A total
of 145 drill holes totaling 24,938 m (99.8%) of the planned 25,000
m 2011 drilling campaign have now been completed. It is expected
that the remaining drilling will be completed shortly, with a
resource estimation to follow before year end. Highlights: --
In-fill drill holes within the "Heart of Gold" area continue to
confirm along-strike continuity of high grade mineralization with
intervals of 5.99 g/t Au over 10.8 m including 28.88 g/t Au over
1.8 m in VL-11-345, 3.69 g/t Au over 12.4 m including 39.80 g/t Au
over 1.0 m in VL-11-343, and 3.34 g/t Au over 9.0 m including 9.52
g/t Au over 2.7 m in VL-11-344. -- The new Hanging Wall Zone
reported on October 3, 2011 and October 6, 2011, continues to
expand with significant new mineralization intersected in drill
holes VL-11-345 with 6.53 g/t Au over 2.6 m, VL-11-347 with 4.41
g/t Au over 2.9 m, and VL-11-343 with 2.15 g/t Au over 2.9 m. --
Significant new Footwall Zone intercepts include 5.73 g/t Au over
2.4 m with 17.09 g/t Au over 0.8 m in VL-11-353 and 3.20 g/t Au
over 2.8 m in VL-11-355. -- The successful 2011 drill program is
now completed at the Leprechaun Gold Deposit, and the drill rigs
have moved 1.5 km along-strike to the southwest to conduct initial
exploration drilling in the newly discovered J. Frank Zone. TABLE
1: Significant Assay Intervals for the Leprechaun Gold Deposit*
__________________________________________________________ | DDH
|Section|Zone**|From|To | Core |TT (m)|Gold (g/t)| | | | | |
|Length| | Uncut |
|_________|_______|______|____|___|______|______|__________|
|VL-11-343| 10188 | HW | 52 |56 | 4 | 3.6 | 1.52 |
|_________|_______|______|____|___|______|______|__________| | | |
HW | 90 |93 | 3 | 2.9 | 2.15 |
|_________|_______|______|____|___|______|______|__________| | | |
MZ |141 |154| 13 | 12.4 | 3.69 |
|_________|_______|______|____|___|______|______|__________|
|including| | MZ |152 |153| 1 | 1.0 | 39.80 |
|_________|_______|______|____|___|______|______|__________|
|VL-11-344| 10075 | MZ |110 |113| 3 | 2.7 | 1.51 |
|_________|_______|______|____|___|______|______|__________| | | |
MZ |191 |201| 10 | 9.0 | 3.34 |
|_________|_______|______|____|___|______|______|__________|
|including| | MZ |194 |197| 3 | 2.7 | 9.52 |
|_________|_______|______|____|___|______|______|__________|
|VL-11-345| 10175 | HW | 50 |53 | 3 | 2.6 | 1.79 |
|_________|_______|______|____|___|______|______|__________| | | |
HW | 94 |97 | 3 | 2.6 | 6.61 |
|_________|_______|______|____|___|______|______|__________| | | |
MZ |121 |128| 7 | 6.3 | 1.23 |
|_________|_______|______|____|___|______|______|__________| | | |
MZ |187 |199| 12 | 10.8 | 5.99 |
|_________|_______|______|____|___|______|______|__________|
|including| | MZ |187 |189| 2 | 1.8 | 28.88 |
|_________|_______|______|____|___|______|______|__________|
|VL-11-346| 10100 | HW | 67 |70 | 3 | 2.9 | 1.63 |
|_________|_______|______|____|___|______|______|__________| | | |
MZ |169 |173| 4 | 3.8 | 2.71 |
|_________|_______|______|____|___|______|______|__________| | | |
MZ |184 |187| 3 | 2.9 | 6.96 |
|_________|_______|______|____|___|______|______|__________|
|VL-11-347| 10100 | HW | 10 |13 | 3 | 2.9 | 1.80 |
|_________|_______|______|____|___|______|______|__________| | | |
HW | 84 |87 | 3 | 2.9 | 4.41 |
|_________|_______|______|____|___|______|______|__________| | | |
MZ |224 |236| 12 | 11.4 | 0.82 |
|_________|_______|______|____|___|______|______|__________|
|VL-11-353| 10463 | MZ | 75 |78 | 3 | 2.4 | 2.92 |
|_________|_______|______|____|___|______|______|__________| | | |
MZ |124 |129| 5 | 4.0 | 5.41 |
|_________|_______|______|____|___|______|______|__________|
|including| | MZ |125 |126| 1 | 0.8 | 26.04 |
|_________|_______|______|____|___|______|______|__________| | | |
FW |148 |151| 3 | 2.4 | 5.73 |
|_________|_______|______|____|___|______|______|__________|
|including| | FW |148 |149| 1 | 0.8 | 17.09 |
|_________|_______|______|____|___|______|______|__________| | | |
FW |164 |168| 4 | 3.2 | 1.26 |
|_________|_______|______|____|___|______|______|__________|
|VL-11-354| 10388 | HW | 67 |72 | 5 | 5.0 | 0.94 |
|_________|_______|______|____|___|______|______|__________| | | |
FW |264 |267| 3 | 2.3 | 1.73 |
|_________|_______|______|____|___|______|______|__________|
|VL-11-355| 10413 | MZ |124 |137| 13 | 10.4 | 1.61 |
|_________|_______|______|____|___|______|______|__________|
|including| | MZ |136 |137| 1 | 0.8 | 12.76 |
|_________|_______|______|____|___|______|______|__________| | | |
MZ |142 |145| 3 | 2.4 | 1.34 |
|_________|_______|______|____|___|______|______|__________| | | |
MZ |155 |160| 5 | 4.0 | 2.23 |
|_________|_______|______|____|___|______|______|__________| | | |
MZ |209 |212| 3 | 2.1 | 5.94 |
|_________|_______|______|____|___|______|______|__________| | | |
MZ |217 |220| 3 | 2.1 | 2.14 |
|_________|_______|______|____|___|______|______|__________| | | |
FW |239 |242| 3 | 2.1 | 1.53 |
|_________|_______|______|____|___|______|______|__________| | | |
FW |247 |251| 4 | 2.8 | 3.20 |
|_________|_______|______|____|___|______|______|__________| *Assay
results for drill holes VL-11-348, 349, 350, 351 and 352 were
released in October 6, 2011 press release. VL-11-356 drilled into
mafic dike and had no significant assay results. **Denotes: MZ -
main zone, HW - hanging wall zone, and FW - foot wall zone 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. Due to
the coarse nature of the gold at the Leprechaun Gold 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. 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 the Valentine Lake Joint
Venture The Valentine Lake Joint Venture 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
Project, and the Valentine East Gold Zone is located 13 km along
strike running in a north-easterly direction. The J. Frank
Zone, which currently extends over an area in excess of 850 m in
length and 250 m in width, is located up to 1.5 km southwest along
strike from the current resource boundary of the Leprechaun Gold
Deposit. These gold occurrences form part of a 23 km long, highly
prospective gold-bearing mineralized corridor. Marathon is the
operator of the Joint Venture, and the companies have agreed to
jointly fund a $6 million budget in 2011 that includes the planned
25,000 m of drilling. About the Leprechaun Gold Deposit The
Leprechaun Gold Deposit has a 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 (news release, December 16,
2010). The Inferred Resource is 4,409,000 tonnes grading 2.01 g/t
gold, for an estimated 285,000 ounces of gold. This 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 Measured and Indicated ounces
occurring within 150 m of surface. 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. Marathon
Gold Corporation CONTACT: Marathon Gold CorporationJennie Guay
Investor Relations ManagerTel:
1-416-987-0714Email:jguay@marathon-gold.com
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