Marathon Gold Hits 12.4 g/t Gold Over 5.2 Meters at the Golden Chest Mine
12 4월 2012 - 8:00PM
PR Newswire (Canada)
TORONTO, April 12, 2012 /CNW/ - Marathon Gold Corporation
("Marathon" or the "Company") today announced that it has hit
another significant drill intercept of 5.2 meters of 12.4 g/t gold
in drill hole GC 12-107 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 Marathon Gold Corporation and 50%
by New Jersey Mining Corporation ("NJMC") and NJMC is the operator.
"Drilling at the Golden Chest Mine continues to be successful in
expanding the Resource potential. The open pit holes are infill and
in an area of inferred Resource, and the underground targeted holes
are expanding the strike length of the Idaho vein system in an area
not previously drilled. These are very good results for the 2012
program and with extensive drilling to follow, we anticipate
consistent encouraging results," said Phillip Walford, President
and CEO of Marathon Gold. Highlights: -- GC 12-107 returned 12.4
g/t gold over 5.2 meters from a depth of 74.3 meters to 79.5
meters, and 7.74 g/t gold over 2.5 meters from 107.1 meters to
109.6 meters. This hole was drilled on the 4175 N section which
extends the gold mineralization nearly 100 meters to the south of
previous drilling. -- GC 12-106 returned 8.22 g/t gold over 3.9
meters from 153.4 meters to 158.6 meters down the hole, and was
also drilled on the 4175 N section. -- GC 12-117 is the
southernmost hole drilled on the property and extended the gold
mineralization by 300 meters from previous drilling. This hole
returned 3.56 g/t gold over 5.1 meters of true vein thickness,
indicating that the gold system is high-grade and continuous. --
The initial NI 43-101 Resource Estimate, released March 5, 2012,
exhibited a Measured and Indicated Resource of 3,107,000 tonnes at
1.47 g/t gold containing 147,000 ounces and an Inferred Resource of
4,978,000 tonnes at 1.46 g/t gold containing 233,300 ounces. This
is a very encouraging start to the development of the project. All
grades in this release are uncut, and all thicknesses are estimated
true thicknesses. Table 1 -Drill Intersections at the Golden Chest
Mine
____________________________________________________________________
|DDH |Resource |Section |From |To |Core |True |Gold | | |Type |
|(m) |(m) |Width (m)|Thickness|(g/t) | | | | | | | |(m) | |
|______|___________|_________|_____|_____|_________|_________|_______|
|GC |Open Pit |4780N |5.3 |28.0 |22.7 |16.5 |1.15 | |11-101| | | |
| | | |
|______|___________|_________|_____|_____|_________|_________|_______|
|GC |Open Pit |4700N |43.2 |56.7 |13.5 |12.4 |1.26 | |11-102| | | |
| | | |
|______|___________|_________|_____|_____|_________|_________|_______|
|GC |Open Pit |4750N |5.3 |29.6 |24.3 |20.0 |1.14 | |12-103| | | |
| | | |
|______|___________|_________|_____|_____|_________|_________|_______|
|GC |Underground|4100N |37.4 |39.5 |2.1 |1.6 |4.93 | |12-104|
|_________|_____|_____|_________|_________|_______| | | |and |99.4
|105.6|6.2 |4.6 |1.81 |
|______|___________|_________|_____|_____|_________|_________|_______|
|GC |Underground|4100N |71.3 |73.2 |1.9 |1.9 |1.17 | |12-105| | | |
| | | |
|______|___________|_________|_____|_____|_________|_________|_______|
|GC |Underground|4175N |128.0|129.2|1.2 |0.9 |7.95 | |12-106|
|_________|_____|_____|_________|_________|_______| | | |and
|153.4|158.6|5.2 |3.9 |8.22 |
|______|___________|_________|_____|_____|_________|_________|_______|
|GC |Underground|4175N |74.3 |79.5 |5.2 |5.2 |12.39 | |12-107|
|_________|_____|_____|_________|_________|_______| | | |and
|107.1|109.6|2.5 |2.5 |7.74 |
|______|___________|_________|_____|_____|_________|_________|_______|
|GC |Underground|4050N |Less than 1.0 g/t over 2.0 meter | |12-108|
| |minimum mining width. |
|______|___________|_________|_______________________________________|
|GC |Underground|4050N |34.2 |39.8 |5.6 |5.6 |2.37 | |12-109|
|_________|_____|_____|_________|_________|_______| | |
|including|34.2 |36.0 |1.8 |1.8 |6.37 | | |
|_________|_____|_____|_________|_________|_______| | | |and |78.6
|79.2 |0.6 |0.6 |5.37 |
|______|___________|_________|_____|_____|_________|_________|_______|
|GC |Underground|4000N |107.0|110.0|3.0 |2.2 |3.87 | |12-110| | | |
| | | |
|______|___________|_________|_____|_____|_________|_________|_______|
|GC |Underground|3950N |94.0 |101.2|7.2 |5.1 |3.56 | |12-117| | | |
| | | |
|______|___________|_________|_____|_____|_________|_________|_______|
Underground intercepts were calculated using a 1.0 g/t cutoff over
a minimum mining width of 2.0 meters. Note that hole numbers
missing in the sequence above are in the process of being logged by
geologists, or awaiting assay analysis The assay results from the
holes drilled on the 4175 N section and to the south indicate that
the gold system is still robust which increases the potential to
add to the total gold Resource at the Golden Chest Mine. The
drilling completed by the partners to date has demonstrated the
gold mineralization has a strike length of at least 1.1 kilometers,
and is open to the north and south. Currently, there are two
core drills operating on the surface at the Golden Chest Mine which
are targeting the extension of mineralization to the south and down
dip. Once the winter snow melts, the rigs will be moved to
the high-grade Katie-Dora area to target the extension of the open
pit Resource to the north. 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. About 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 515 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, 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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