Marathon Gold Hits Significant New High-Grade Gold Intercepts at the Leprechaun Gold Deposit, Valentine Lake
10 4월 2012 - 8:00PM
PR Newswire (Canada)
Results include: 7.23 g/t Au over 20.9 m (TT) with 48.99 g/t Au
over 1.9 m (TT), 9.19 g/t Au over 13.5 m (TT) with 34.92 g/t Au
over 1.8 m (TT), and 13.81 g/t Au over 18.05 m (TT) with 109.94 g/t
Au over 1.9 m (TT) TORONTO, April 10, 2012 /CNW/ - Marathon Gold
Corporation ("Marathon" or the "Company") today announced the
results of 8 new drill holes from the 2012 drilling campaign at the
Leprechaun Gold Deposit in Valentine Lake, Newfoundland (Figure 1).
Step-out drilling down-dip on the Main Zone at the Leprechaun Gold
Deposit continues to intersect multiple intervals of high-grade
gold. Highlights include: -- 7.23 g/t Au over 20.9 meters with
48.99 g/t Au over 1.9 meters in VL-12-403 and 9.19 g/t Au over 13.5
meters with 34.92 g/t Au over 1.8 meters in VL-12-407.This
represents both down-dip and strike continuity of Main Zone,
high-grade mineralization identified in VL-12-400. This hole
intersected the Main Zone in an inferred area of low grade in the
recently released Resource Estimate. -- 4.05 g/t Au over 21.6
meters with 24.55 g/t Au over 1.8 meters in 50 meter down-dip, step
out hole VL-12-402 (Photo 1) and 13.81 g/t Au over 18.05 meters
with 109.94 g/t Au over 1.9 meters within in-fill hole VL-12-408.
These holes demonstrate the continued expansion of the high-grade
ore shoots within the Main Zone mineralization as drilling steps
out, down-dip and to the southwest within the current Resource
boundary. Both of these holes intersected the Main Zone in an area
of mineralization estimated to be from 1-5 g/t Au in grade and
largely in the inferred category in the recently released Resource
Estimate. -- 3.93 g/t Au over 24.0 meters with 19.01 g/t Au over
4.0 meters in 35 meter down-dip step-out hole VL-12-401, and 2.78
g/t Au over 18.7 meters with 15.66 g/t Au over 1.7 meters in 50
meter down-dip step-out hole VL-12-404, confirm the continuation of
high-grade Main Zone mineralization at increased depths within the
northeast section of the current Resource boundary. These holes are
in an area that was classified as inferred, and at less than 2
grams in the current Resource. -- The Leprechaun Gold Deposit
remains open both down-dip and along strike to the northeast and
southwest as 2012 drilling continues to expand the boundary of the
deposit. "Building upon the previously announced drill results,
these exciting new gold intercepts further confirms both the
continuity of the gold system and the ongoing expansion of the
Leprechaun Gold Deposit. As this year's step-out drilling program
progresses it is becoming increasingly clear that this is sizeable
deposit with more high-grade zones to be found," said Phillip
Walford, President and CEO of Marathon Gold. 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 a planned 40,000 meter 2012
drilling program in which Marathon is the operator. The 2012
exploration program at the Leprechaun Gold Deposit will continue to
expand southwest into the J. Frank Zone and northeast into the
Sprite Zone. All grades in this release are uncut, and all
thicknesses are estimated true thicknesses. A total of 53 drill
holes totaling 14,357 meters (35.9%) of the planned 2012 drilling
campaign have now been completed. TABLE 1: Significant Assay
Intervals from drill holes, Leprechaun Gold Deposit
__________________________________________________________________
| | | | | | | Core | |Gold(g/t)| | DDH |Section|Zone*| Design
|From|To |Length|TT (m)| Uncut |
|_________|_______|_____|_________|____|___|______|______|_________|
|VL-12-401| 10350 | MZ |step-out |176 |206| 30 |24.00 | 3.93 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | (35 m) |199 |204| 5 | 4.00 | 19.01 |
|_________|_______|_____|_________|____|___|______|______|_________|
|VL-12-402| 9950 | HW |step-out | 68 |71 | 3 | 3.00 | 0.81 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | MZ | (50 m) |277 |301| 24 |21.60 | 4.05 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |282 |283| 1 | 0.90 | 10.34 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |292 |293| 1 | 0.90 | 9.13 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |297 |299| 2 | 1.80 | 24.55 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | MZ | |305 |308| 3 | 2.70 | 4.75 |
|_________|_______|_____|_________|____|___|______|______|_________|
|VL-12-403| 10175 | HW |step-out | 70 |73 | 3 | 3.00 | 1.37 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | HW |(50-70 m)| 75 |78 | 3 | 3.00 | 1.75 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | HW | | 91 |94 | 3 | 3.00 | 2.06 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | MZ | |210 |232| 22 |20.90 | 7.23 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |210 |211| 1 | 0.95 | 10.63 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |215 |216| 1 | 0.95 | 17.80 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |221 |232| 11 |10.45 | 11.71 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |228 |230| 2 | 1.90 | 48.99 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | MZ | |272 |278| 6 | 5.70 | 2.80 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |273 |274| 1 | 0.95 | 11.71 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | FW | |291 |295| 4 | 3.80 | 11.29 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | FW | |292 |293| 1 | 0.95 | 29.08 |
|_________|_______|_____|_________|____|___|______|______|_________|
|VL-12-404|10412.5| MZ |step-out |182 |185| 3 | 2.55 | 4.93 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | (50 m) |183 |184| 1 | 0.85 | 14.27 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | MZ | |192 |214| 22 |18.70 | 2.78 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |192 |194| 2 | 1.70 | 15.66 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |206 |207| 1 | 0.85 | 12.55 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |210 |211| 1 | 0.85 | 6.52 |
|_________|_______|_____|_________|____|___|______|______|_________|
|VL-12-405| 10025 | MZ | in-fill |200 |203| 3 | 3.00 | 1.71 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | MZ | |211 |214| 3 | 3.00 | 1.75 |
|_________|_______|_____|_________|____|___|______|______|_________|
|VL-12-406|10337.5| HW |step-out | 22 |25 | 3 | 3.00 | 3.27 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | HW | (45 m) | 23 |24 | 1 | 1.00 | 9.75 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | MZ | |190 |193| 3 | 2.85 | 4.11 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |190 |191| 1 | 0.95 | 10.96 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | MZ | |200 |203| 3 | 2.85 | 6.93 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | MZ | |215 |218| 3 | 2.85 | 9.51 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |216 |217| 1 | 0.95 | 19.89 |
|_________|_______|_____|_________|____|___|______|______|_________|
|VL-12-407| 10125 | MZ |step-out | 85 |88 | 3 | 3.00 | 0.90 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | MZ | (100 m) | 98 |101| 3 | 3.00 | 1.18 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | MZ | |247 |250| 3 | 2.70 | 4.01 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |248 |249| 1 | 0.90 | 10.32 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | MZ | |289 |304| 15 |13.50 | 9.19 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |291 |293| 2 | 1.80 | 34.92 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |295 |297| 2 | 1.80 | 13.46 |
|_________|_______|_____|_________|____|___|______|______|_________|
|VL-12-408| 10000 | MZ | in-fill | 22 |25 | 3 | 2.85 | 0.79 |
|_________|_______|_____|_________|____|___|______|______|_________|
| | | MZ | |153 |172| 19 |18.05 | 13.81 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |160 |167| 7 | 6.65 | 34.97 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |160 |161| 1 | 0.95 | 9.57 |
|_________|_______|_____|_________|____|___|______|______|_________|
|including| | MZ | |164 |166| 2 | 1.90 | 109.94 |
|_________|_______|_____|_________|____|___|______|______|_________|
*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 and Mountain Lake Resources Inc. The
Leprechaun Gold Deposit is situated at the south-western end of the
Valentine Lake Project, and the Valentine East Gold Zone is located
17 kilometers along strike running in a north-easterly
direction. The J. Frank Zone, which currently extends over an
area in excess of 850 meters in length and 250 meters in width, is
located up to 1.5 kilometers southwest along strike from the
current Resource boundary of the Leprechaun Gold Deposit. These
gold occurrences form part of a 23 kilometer long, highly
prospective gold-bearing mineralized corridor. Marathon is the
operator of the Joint Venture, and the companies have agreed to
jointly fund the $11.53 million budget in 2012 that includes plans
for 40,000 meters of drilling which is currently ongoing. About the
Leprechaun Gold Deposit The Leprechaun Gold Deposit has a NI 43-101
compliant Measured and Indicated Resource of 6,446,000 tonnes
grading 2.05 g/t gold, for a total estimated 424,000 ounces of gold
(news release, March 29, 2012). The Inferred Resource is 5,742,000
tonnes grading 1.65 g/t gold, for an estimated 305,000 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. 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, results or otherwise.
Marathon Gold Corporation CONTACT: Marathon Gold
CorporationJennie GuayInvestor Relations ManagerTel:
1-416-987-0714E-mail: jguay@marathon-gold.com
Copyright
Marathon Gold (TSX:MOZ)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Marathon Gold (TSX:MOZ)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024