TORONTO, ON--(Marketwired - November 02, 2016) - Marathon Gold Corporation ("Marathon" or the "Company") (
Highlights (true thickness):
"Ongoing exploration success at the Marathon Deposit area is very exciting as we keep expanding gold resources for the Valentine Gold Camp", said Phillip Walford, President and CEO of Marathon. "The recently completed FT financing will allow us to run two drills on the property in order to maximizing the 2017 resource update."
TABLE 1: Significant fire assay intervals from drill holes MA-16-121, MA-16-122, MA-16-125, MA-16-127, MA-16-128 and MA-16-129, Marathon Gold Deposit, Valentine Gold Camp.
DDH | Section | From | To | Core Length (m) | True Width (m) | Gold_g/t |
MA-16-121 | 16700 | 80 | 86 | 6 | 4.2 | 0.72 |
144 | 148 | 4 | 2.8 | 2.53 | ||
MA-16-122 | 16700 | 82 | 86 | 4 | 2.8 | 1.34 |
178 | 181 | 3 | 2.1 | 7.21 | ||
284 | 294 | 10 | 7.0 | 3.77 | ||
including | 286 | 290 | 4 | 2.8 | 8.49 | |
313 | 317 | 4 | 2.8 | 2.03 | ||
MA-16-125 | 16600 | 40 | 43 | 3 | 2.1 | 0.5 |
49 | 61 | 12 | 8.4 | 1.61 | ||
including | 59 | 61 | 2 | 1.4 | 5.64 | |
MA-16-127 | 17230 | 45 | 49 | 4 | 2.2 | 4.27 |
238 | 273 | 35 | 19.3 | 3.10 | ||
including | 238 | 247 | 9 | 5.0 | 5.34 | |
including | 254 | 257 | 3 | 1.7 | 7.66 | |
including | 261 | 265 | 4 | 2.2 | 4.69 | |
303 | 307 | 4 | 2.2 | 1.94 | ||
321 | 333 | 12 | 6.6 | 1.86 | ||
MA-16-128 | 17330 | 104 | 112 | 8 | 4.8 | 1.96 |
124 | 128 | 4 | 2.4 | 1.34 | ||
150 | 154 | 4 | 2.4 | 1.78 | ||
271 | 301 | 30 | 18.0 | 3.61 | ||
including | 280 | 281 | 1 | 0.6 | 31.35 | |
including | 291 | 296 | 5 | 3.0 | 8.55 | |
including | 300 | 301 | 1 | 0.6 | 15.89 | |
315 | 321 | 6 | 3.6 | 1.69 | ||
MA-16-129 | 17280 | 23 | 27 | 4 | 2.2 | 3.18 |
117 | 121 | 4 | 2.2 | 2.31 | ||
139 | 142 | 3 | 1.7 | 2.64 | ||
277 | 280 | 3 | 1.7 | 2.17 | ||
307 | 310 | 3 | 1.7 | 1.06 | ||
319 | 326 | 7 | 3.9 | 1.32 | ||
339 | 344 | 5 | 2.8 | 4.80 | ||
including | 340 | 341 | 1 | 0.6 | 15.58 | |
362 | 368 | 6 | 3.3 | 3.70 | ||
No significant assays in MA-16-120 and MA-16-126, | ||||||
MA-16-123 and MA-16-124 were abandoned due to poor ground conditions |
All of the samples were fire assayed at Eastern Analytical Laboratory Ltd., in Springdale, Newfoundland.
Marathon Gold Corporation acknowledges the financial support of the JEA Program, Department of Natural Resources, Government of Newfoundland and Labrador. The Research and Development Corporation of Newfoundland and Labrador has granted approximately 75% of the costs of the current metallurgical program to Marathon Gold and we appreciate this support.
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 is a Toronto based gold resource company focused on its 100% owned Valentine Gold Camp located in central Newfoundland. The Valentine Gold Camp currently hosts four near-surface, mainly pit-shell constrained, gold resources totaling 1,060,100 oz. gold at 2.20 g/t (Measured & Indicated) and 200,000 oz. gold at 2.85 g/t (Inferred), (April 2015). These resources, open along strike and to depth, cover less than 10% of the total length of the highly prospective Valentine Lake Thrust Fault and associated splay faults which host the majority of the gold mineralization within the property. 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.
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Contact Information:
For more information, please contact:
Christopher Haldane
Investor Relations Manager
Tel: 1-416-987-0714
E-mail: chaldane@marathon-gold.com
Phillip Walford
President and Chief Executive Officer
Tel: 1-416-987-0711
E-mail: pwalford@marathon-gold.com