Marathon Gold Hits 2.20 g/t Gold Over 26.2 Meters at the Golden Chest Mine
27 2월 2012 - 9:00PM
PR Newswire (Canada)
TORONTO, Feb. 27, 2012 /CNW/ - Marathon Gold Corporation
("Marathon" or the "Company") today announced that it has hit
another significant drill intercept of 26.2 meters of 2.20 g/t gold
in drill hole GC 11-90 from the 20,000 meter core drilling program
underway at the Golden Chest Mine in Murray, Idaho. The
Golden Chest Mine is owned 50% by New Jersey Mining Corporation
("NJMC") and 50% by Marathon Gold Corporation and NJMC is the
operator. "These drill holes are encouraging as they demonstrate
that there is expanded open pit potential at the Golden Chest Mine.
With two drills currently turning, we anticipate that this year's
20,000 m drill program will further define the full potential of
the deposit," stated Phillip Walford, President and CEO of Marathon
Gold. All grades in this release are uncut, and all thicknesses are
estimated true thicknesses. Highlights: -- GC 11-90 returned 2.20
g/t gold over 26.2 meters from 24.4 meters to 60.2 meters including
4.5 meters of 9.55 g/t gold. This hole was drilled on the 4700N
section located 150 meters north of Idaho Hill, where most of the
open pit Resource drilling was completed in 2011. Results from the
4700N section are encouraging as they demonstrate the potential for
expanding the open pit Resource area. -- GC 11-98 returned 2.27 g/t
gold over 17.7 meters from 4.0 meters to 21.7 meters down the hole.
This hole was drilled 300 meters north of Idaho Hill. -- NI 43-101
Initial Resource Estimation work is underway using the 11,300
meters of drilling completed during 2011. The Initial Resource
Estimate is expected to be completed in Q1 2012. Table 1 -Drill
Intersections at the Golden Chest Mine
__________________________________________________________________
| DDH | Section |From|To (m)| Core | True |Gold (g/t)| | | |(m) |
|Width (m)|Thickness (m)| |
|_________|_________|____|______|_________|_____________|__________|
|GC 11-89 | 4700N |17.6| 29.9| 12.3| 12.3 | 0.20|
|_________|_________|____|______|_________|_____________|__________|
|GC 11-90 | 4700N |24.4| 60.2| 35.8| 26.2 | 2.20| |
|_________|____|______|_________|_____________|__________| |
|including|24.4| 60.5| 6.1| 4.5 | 9.55|
|_________|_________|____|______|_________|_____________|__________|
|GC 11-91 | 4650N |No significant intercepts |
|_________|_________|______________________________________________|
|GC 11-92 | 4725N | 4.4| 13.1| 8.7| 6.3 | 1.00|
|_________|_________|____|______|_________|_____________|__________|
|GC 11-93 | 4700N | 8.8| 16.0| 7.2| 7.2 | 0.41|
|_________|_________|____|______|_________|_____________|__________|
|GC 11-94 | 4750N |No significant intercepts - footwall |
|_________|_________|______________________________________________|
|GC 11-95 | 4750N |No significant intercepts - footwall |
|_________|_________|______________________________________________|
|GC 11-96 | 4750N |No significant intercepts - footwall |
|_________|_________|______________________________________________|
|GC 11-97 | 4800N | 4.1| 12.8| 8.7| 7.5 | 0.89|
|_________|_________|____|______|_________|_____________|__________|
|GC 11-98 | 4825N | 4.0| 21.7| 17.7| 17.7 | 2.27|
|_________|_________|____|______|_________|_____________|__________|
|GC 11-99 | 4825N |77.3| 80.2| 2.9| 0.9 | 1.69| |
|_________|____|______|_________|_____________|__________| | |
4825N |90.4| 123.0| 32.6| 10.5 | 0.61|
|_________|_________|____|______|_________|_____________|__________|
|GC 11-100| 4850N |30.8| 39.1| 8.3| 8.1 | 1.00|
|_________|_________|____|______|_________|_____________|__________|
Drill holes GC 11-94, GC 11-95, and GC 11-96 were collared in the
footwall of the Idaho fault and appear to be outside of the main
mineralized zone. Currently, there are two core drills turning on
the property. One drill is working to expand the Idaho vein
underground resource down-dip below the # 3 Level, while the second
drill is targeting the southern extension of the gold
mineralization. Phillip Walford P.Geo, President and CEO of
Marathon Gold, is Marathon's Qualified Person in compliance with
National Instrument 43-101 with respect to this release. Mr.
Walford has reviewed the contents for accuracy and has approved
this new release on behalf of Marathon. 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 m 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 a North American gold resource
development company, with projects located in the mining friendly
province of Newfoundland and Labrador, the prolific Coeur d'Alene
Mining District of Idaho and the historic gold rich Greenhorn
District of Oregon, USA. 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 or results otherwise.
Marathon Gold Corporation CONTACT: Marathon Gold
CorporationJennie GuayInvestor Relations ManagerTel:
1-416-987-0714Email: jguay@marathon-gold.comwww.marathon-gold.com
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