TORONTO, Dec. 10, 2014 /CNW/ - Marathon Gold
Corporation ("Marathon" or the "Company") (TSX: MOZ) today
announced continued positive drilling results from drill holes
MA-14-010 to MA-14-014 in the recently discovered gold-rich
Marathon Zone, located 7 kilometers northeast along strike from the
Leprechaun Gold Deposit and 5 kilometers southwest along strike
from the Victory Gold Deposit, Valentine Lake Gold Camp
(Figure 1). The gold-bearing quartz-tourmaline-pyrite
(QTP) veining at the Marathon Zone consists of multiple vertical
stacked, dominantly shallow SW dipping tensional veining that is
identical in appearance to the gold-bearing QTP veining found
throughout the rest of the Valentine Lake Gold Camp.
Drill holes MA-14-010 to MA-14-014 intersected wide intervals of
gold mineralization hosting narrower high-grade ore shoots and
forming part of an expanding Marathon Zone that has a current
strike length of over 200 meters. The drilling to date has outlined
a near vertical mineralized corridor ranging from 50 to 100 meters
in true width and has been drilled currently to a vertical depth of
up to 200 meters. A total of 4,131 meters of NQ core has been
drilled to date in the Marathon Zone, of which 1,679 meters from
drill holes MA-14-015 to MA-14-025 has assays yet to be completed.
All assays are expected to be available in early January. The gold
mineralization at the Marathon Zone is part of a major QTP-gold
vein system that is open along strike and at depth (Figure
1).
Highlights (all drill intercepts reported at true
thickness):
- New wide intervals of gold mineralization include 4.13 g/t Au
over 9.9 meters in MA-14-010, 1.75 g/t Au over 19.8 meters in
MA-14-012, 3.43 g/t Au over 5.4 meters in MA-14-011 and 1.53 g/t Au
over 10.8 meters in MA-14-014
- New narrow, high-grade gold intervals include 9.66 g/t Au over
0.6 meters, 11.21 g/t Au over 1.7 meters, 7.90 g/t Au over 0.6
meters, 15.49 g/t Au over 0.6 meters and 13.64 g/t Au over 0.6
meters in MA-14-010, 9.32 g/t Au over 1.2 meters in MA-14-011, 6.73
g/t Au over 0.6 meters, 11.22 g/t Au over 0.6 meters in MA-14-012,
and 10.86 g/t Au over 0.6 meters in MA-14-013.
- The initial 14 drill holes in the Marathon Zone have
intersected an area of multiple vertical stacked, dominantly
shallow SW dipping tensional gold-bearing QTP veining that defines
a near vertical mineralized corridor that is currently up to 100
meters wide and 200 meters deep, more than 200 meters in strike
length and is open along strike to both the southwest and
northeast. Assays are pending for additional drill holes, MA-14-015
to MA-14-025.
- Drilling currently ongoing at the Marathon Zone is designed to
further increase the strike length of this new gold-rich zone and
quickly develop significant new open-pit resource(s) in this area
proximal to the Valentine Lake Thrust Fault.
- Drilling has stopped for the year as we await pending assays
from remaining drill holes to be completed which will allow us to
plan next year's drill program at the Marathon Zone in Q1 of
2015.
"The Marathon crew has done an excellent job throughout 2014 in
discovering and drilling off two near surface new gold zones,
Sprite and Marathon, at the Valentine Lake Gold Camp as well as
discovering several other gold occurrences requiring further work.
The high discovery rate of gold this year is attributed to the
skills of the crew and the increase in geological knowledge of the
property. The Marathon Zone appears to be part of a major
gold-bearing alteration corridor open along strike and to depth. We
are excited about resuming drilling in early 2015 on the Marathon
Zone to increase open-pit gold resources at the Valentine Lake Gold
Camp. We have just scratched the surface of this emerging gold camp
in Eastern Canada," said
Phillip Walford, President and CEO
of Marathon. "The recently released metallurgical work, largely
funded by Research and Development Corporation of Newfoundland and Labrador, is also a positive step forward in
the development of the project".
TABLE 1: Significant assay intervals from the Marathon
Zone drill holes MA-14-010 to MA-14-014
DDH*
|
Section
|
From
|
To
|
Core Length
(m)
|
TT
(m)
|
Gold (g/t)
(uncut)
|
MA-14-010
|
17250
|
26
|
33
|
7
|
3.9
|
2.00
|
including
|
|
26
|
27
|
1
|
0.6
|
9.66
|
|
|
85
|
89
|
4
|
2.2
|
1.48
|
|
|
135
|
153
|
18
|
9.9
|
4.13
|
including
|
|
141
|
144
|
3
|
1.7
|
11.21
|
including
|
|
145
|
146
|
1
|
0.6
|
7.90
|
including
|
|
152
|
153
|
1
|
0.6
|
15.49
|
|
|
161
|
164
|
3
|
1.7
|
3.68
|
|
|
180
|
188
|
8
|
4.4
|
2.87
|
including
|
|
185
|
186
|
1
|
0.6
|
13.64
|
MA-14-011
|
17280
|
16
|
25
|
9
|
5.4
|
3.43
|
including
|
|
22
|
24
|
2
|
1.2
|
9.32
|
MA-14-012
|
17280
|
11
|
14
|
3
|
1.7
|
1.99
|
|
|
107
|
143
|
36
|
19.8
|
1.75
|
including
|
|
112
|
114
|
2
|
1.1
|
4.50
|
including
|
|
126
|
127
|
1
|
0.6
|
6.73
|
including
|
|
130
|
131
|
1
|
0.6
|
11.22
|
including
|
|
141
|
143
|
2
|
1.1
|
5.02
|
|
|
154
|
158
|
4
|
2.2
|
1.07
|
MA-14-013
|
17300
|
3
|
6
|
3
|
1.8
|
0.98
|
|
|
99
|
107
|
8
|
4.8
|
2.11
|
including
|
|
105
|
106
|
1
|
0.6
|
10.86
|
|
|
120
|
123
|
3
|
1.8
|
1.87
|
MA-14-014
|
17300
|
64
|
67
|
3
|
1.8
|
1.00
|
|
|
96
|
114
|
18
|
10.8
|
1.53
|
*Assays pending for MA-14-015 to MA-14-025
All of the samples were fire assayed at Eastern Analytical
Laboratory Ltd., in Springdale,
Newfoundland.
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 Marathon Gold Corporation
Marathon Gold is a Toronto
based gold resource company with exploration focused on its 100%
owned Valentine Lake Gold Camp located in central Newfoundland. The Valentine Lake Gold Camp
currently hosts two near-surface, mainly pit-shell constrained, NI
43-101 compliant gold resources totaling 816,000 oz gold at 2.24
g/t (Measured & Indicated) and 149,000 oz gold at 2.64 g/t
(Inferred), (August, 2013). These resources, open along strike and
to depth, cover less than 5% of the total length of the highly
perspective Valentine Lake Thrust Fault and associated splay faults
which host the majority of the gold mineralization within the
property. Newly discovered gold zones, including the Sprite Zone
and Marathon Zone, have returned wide intervals of near-surface
good gold grades and have yet to be incorporated into new gold
resources for the Valentine Lake Gold Camp. For more information
please 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.
SOURCE Marathon Gold Corporation