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Aben Continues to Expand Mineralized Footprint at the North Boundary Zone at the Forrest Kerr Gold Project in BC’s Golden Triangle

Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (“Aben” or “the Company”) has received and interpreted additional analytical results from the ongoing 2019 drill exploration program at the Forrest Kerr Gold Project in the Golden Triangle region of British Columbia. The latest results continue to outline widespread polymetallic mineralization throughout the North Boundary Zone. These results are from 5 drill holes located at the margins and well outboard of the main mineralized core at North Boundary.

Forrest Kerr Project, Golden Triangle, B.C., location map:
https://www.abenresources.com/site/assets/files/4287/fk-003.jpg

Highlights from hole FK19-52 include a 16 meter (m) interval (between 323-339m) that averaged 2.22 g/t Au, 2.39 g/t Ag and 3050 ppm Cu. Included in this zone are two separate 1m high-grade intervals of 19.85 g/t Au, 9.10 g/t Ag, 6810 ppm Cu and 11.30 g/t Au, 8.70 g/t Ag & 14900 ppm Cu. This mineralized zone was encountered roughly 100m below and 50m southward of historic high-grade gold mineralization discovered in 1991 (reported as 326.0 g/t Au over 1m by Noranda). Other discrete 1m intercepts from hole 52 include highs of 20.1 g/t Ag, 6.0% Cu, 0.76% Pb and 0.87% Zn. Hole FK19-53 intersected multiple zones of anomalous gold (>0.2 g/t) with the most coherent zone between 346-364m (18m) returning average values of 1.24 g/t Au, 2.47 g/t Ag and 3459 ppm Cu. Included in this zone are two 1m high-grade intervals of 5.72 g/t Au, 8.70 g/t Ag and 5860 ppm Cu and 8.09 g/t Au, 5.40 g/t Ag & 14200 ppm Cu. This zone is significant as it occurs on the West side of the Nelson Creek fault, which previously lacked evidence of precious and base metal mineralization. Hole FK19-54 was drilled in the same direction at a steeper dip angle (-60) than hole 53 and also intersected several 1 to 2m intervals of modest grade polymetallic mineralization. Between 203-215m (12m) gold averaged 1.05 g/t, silver 1.71 g/t and copper 2108 ppm (with individual highs of 7.14 g/t Au, 4.80 g/t Ag and 11550 ppm Cu over 1m). The mineralization encountered in holes 53 & 54 was discovered roughly 450m south of the main high-grade gold discoveries at North Boundary.

Base and precious metal mineralization has now been defined over an area measuring in excess of 600m x 250m at North Boundary (see map link below). Mineralization corresponds to multiple and widespread fault and shear zone structures within a panel of Jurassic Hazelton rocks that dominate the Boundary valley. The mineralized structures correlate very well with magnetic highs that were delineated by an airborne survey flown in May 2019. The 2019 drill program will focus on increasing the mineralized footprint in the Boundary valley and will seek to discover a heat and mineralizing source for the robust hydrothermal system present on this part of the property. As a result, analytical results are expected to continue to exhibit a range of values from trace to high-grade.

Forrest Kerr North Boundary Mineralized Plan View map:
https://abenresources.com/site/assets/files/1/ABN-N-Boundary-Min-Plan-View.jpg

Over 8000 meters have now been drilled in 21 holes with a projected seasonal total close to 10,000 meters by the end of September. Thus far, drilling at Forrest Kerr has only tested a small portion of known targets defined by rock, soil and geophysical anomalies. A brief summary of all of the holes included in this release can be found below.

Forrest Kerr North Boundary Zone Drill Hole map:
https://abenresources.com/site/assets/files/4855/abn_2019_north_boundary_drilling_sept.jpg

FK19-47 (110/-60) – Drilled from the same pad as FK19-46 (previously reported August 20, 2019 at 0.12 g/t Au over 500.5 meters) at a steeper dip to test for continuity of mineralization below 47 and between the main mineralized zone at North Boundary and historic high-grade gold mineralization reported by Noranda in 1991 (326.0 g/t Au over 1 meter). Hole 47 encountered multiple modest-grade gold (<1g/t Au) intercepts with intermittent Ag-Cu-Pb-Zn mineralization. Analytical results returned by both 46 & 47 have pushed the edge of known mineralization substantially Eastward.

FK19-48 (135/-45) – Drilled from a location 100 meters North of the main mineralized zone at North Boundary to test for potential Northeastward extension of mineralization. This hole failed to intersect significant precious metal mineralization.

FK19-49 (195/-57) – Drilled from the same pad as FK19-50 (previously reported August 20,2019 0.46 g/t Au over 61.7 meters starting at 188.0 m) at a shallower dip. Both holes 49 & 50 were planned to test for the downward extension of a mineralized horizon discovered in 2018 (holes FK18-17 & 18) situated approximately 50 meters NW of high-grade Au-Ag-Cu mineralization at North Boundary. Hole 49 intersected weaker gold mineralization (0.52 g/t Au over 8m) than the steeper hole 50 but the combined result of the two holes shows a 20+m extension to the zone encountered in 17 & 18.

Drill HoleFrom (m)To (m)Interval (m)Au average (g/t)
FK19-50188.00249.7061.700.46
including 11.65 g/t over 1 m
*FK18-17232.00284.0052.001.82
including 31.4, 22.5 and 8.4 g/t over 1 m interval
*FK18-18186.00247.0061.000.37
including 11.55 g/t over 1 m

*previously reported

FK19-52 (310/-55) – Located roughly 500m from the main mineralized core at North Boundary and drilled from the same pad at a steeper dip than the previously reported hole FK19-51. Both holes were drilled oblique to the roughly North-South mineralized corridor to test for the southward extension of mineralization and depth potential under historically reported mineralization. Several discrete horizons of base and precious metal mineralization were reported from this hole. From 323-339 m (16m interval) average grades were 2.22 g/t Au, Ag 2.39 g/t and 3050 ppm Cu. Included in this zone are two separate 1m high-grade intervals of 19.85 g/t Au, 9.10 g/t Ag, 6810 ppm Cu and 11.30 g/t Au, 8.70 g/t Ag & 14900 ppm Cu. The entire hole returned an average of 0.11 g/t Au over 469.0 meters.

FK19-53 (250/-45) – Collared from the same pad as holes 51 & 52 but drilled WSW to test for mineralization potential within and adjacent to several sub-parallel fault and shear structures. Between 346-364m this hole returned 1.24 g/t Au, 2.47 g/t Ag and 3459 ppm Cu over 18 meters. Included in this zone are two 1m high-grade intervals of 5.72 g/t Au, 8.70 g/t Ag, 5860 ppm Cu and 8.09 g/t Au, 5.40 g/t Ag & 14200 ppm Cu. Multiple other moderate to high-grade intercepts of Au, Ag, Cu and Zn mineralization were encountered with an overall average of 0.10 g/t Au over 430.5 meters.

FK19-54 (250/-60) – This hole undercut the precious and base metal mineralization encountered in hole 53 at a steeper dip. Several samples returned elevated precious and base metal intercepts from discrete zones with the most coherent zone between 203-215m depth (averaging 1.05 g/t Au, 1.71 g/t Ag and 2108 ppm Cu over 12m), including 1m highs of 7.14 g/t Au, 4.80 g/t Ag and 11550 ppm Cu.

Drill HoleFrom (m)To (m)Interval (m)Au (g/t)Ag (g/t)Cu (ppm)
FK19-52323.0339.016.002.222.393050
including330.0331.01.0019.859.106810
including337.0338.01.0011.308.7014900
FK19-53346.0364.018.001.242.473459
including347.0348.01.005.728.705860
including357.0358.01.008.095.4014200
FK19-54203.0215.012.001.051.712108
including7.144.8011550

Airborne Magnetic Survey from Boundary Zone on the Forrest Kerr Project:
https://abenresources.com/site/assets/files/1/Forrest-Kerr-Mag-Images-from-Boundary.pdf

Forrest Kerr Project Exploration Target map:
https://www.abenresources.com/site/assets/files/4299/abn_forrest_kerr_future_targets.png

Analytical and QA/QC description:

All 1- or 2-meter drill core samples were delivered to ALS Global prep facility in Terrace, British Columbia where they were crushed until 70% passed a 2mm sieve, then a 250g split was pulverized until better than 85% passed a 75-micron screen. Gold was tested via fire assay method Au-ICP21 with all ore-grade samples (>10 g/t) undergoing fire assay with gravimetric finish. ALS performed multi-element ICP-AES package ME-ICP41 in their Vancouver facility to test for 35 other elements. In addition to the quality assurance and quality control program performed by ALS, Aben personnel insert lab certified standards, field blanks and duplicates into the sample stream at the rate of one QA/QC sample in every 10 samples.

Justin Property, Yukon royalty renegotiation

The Company reported today that it had entered into a Settlement Agreement with Sandstorm Gold Ltd. (“Sandstorm”), pursuant to which the parties have renegotiated the terms of certain royalty agreements over the Company’s 100% owned Justin and Hit Properties in the Yukon. As a term of the Settlement Agreement, the Company will issue 750,000 shares to Sandstorm as partial consideration for the cancellation of certain advance royalty obligations and the creation of new royalty agreements with Sandstorm. Additional consideration for the Settlement Agreement is the assignment by the Company to Sandstorm of various royalty buyback rights held by the Company. As a result of the Settlement Agreement, the royalty obligation to Sandstorm on the Justin and Hit Properties has been reduced from 3% to 2% and the obligation to make advance royalty payments has been terminated. The Settlement Agreement and closing are subject to approval of the transaction by the TSX Venture Exchange.

Cornell McDowell, P.Geo., V.P. of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.

About Aben Resources:

Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company with over $3 million in the Company’s treasury.

For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.

ABEN RESOURCES LTD.

“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO

For further information contact myself or:
Don Myers
Aben Resources Ltd.
Director, Corporate Communications
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

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Cartier Resources: Ready for its 43-101 Close-up

Junior mineral explorers tend to rush out news of their discoveries and their resource estimates. A 43-101 Resource Estimate encourages a company’s investors and, in theory, makes it easier to raise money to continue development. But the market has to be able to hear the news.

For years, CEO Philippe Cloutier and Cartier Resources (V.ECR) have been urged to undertake a 43-101 resource estimate for their exploration work at the Chimo mine, 45 kilometers from Val d’Or. Their retail investors wanted one, their peers thought they should do one and more than a few funders wanted to see the estimate before committing funds. Cloutier resisted.

In an earlier interview with Motherlodetv.net Cloutier pointed out that once you publish a 43-101, the resource estimate it contains acts as a bit of anchor. If you report a small resource, even if you later expand that resource, that first number sticks in the market’s memory.

It is also a reflection of Cartier’s culture said Cloutier in an interview from the Beaver Creek Summit. “We’re conservative types,” said Cloutier. “Chimo Mine is a brown field project and there is a wealth of historical data which holds us to a high degree of accountability. We have to get the resource estimate right.”

All of which makes the announcement that Cartier has commissioned a 43-101 report very intriguing. Why now?

“A 43-101 gives the market a way to evaluate a company and a project,” said Cartier. “The last two years of drill results were not noticed due to unreceptive markets, now that we’re at the beginning of a bull run in gold, we think a maiden resource estimate for the project will sum up our efforts and help rerate our company.”

Cloutier has always been about shareholder return and by doing a 43-101 at this stage in what looks like a gold rally, Cartier is giving shareholders a traditional measure of the Chimo project’s resource.

The fact is that Cartier would not have initiated a 43-101 if it expected a small number for its resource. Cloutier and his team must have seen something in their results and data which suggests a decent sized resource. While Cloutier could not comment directly on what that “something” is he did say, “ I think the results of all our drilling in the last two years warrants this next step.”

By getting the work underway on the 43-101 now, Cloutier is confident that the report will be finished by the end of Q4 2019. 

“We’ve had the hand brake on,” said Cloutier. “We knew that this was a project with a few “aces up its sleeve” namely proximity to infrastructure and qualified workforce as well as a wealth of historical data from past production to refer to moving forward.”

Interestingly, Cloutier sees the initial 43-101 as the beginning of a process. “This resource estimate will focus only on the central zone and not the work, which is ongoing in the north and south zones. These will be completed in  2020.”

“I see Cartier as having three pillars going forward,” said Cloutier. “First the 43-101, then adding resources as we are able to include the north and south zones and hopefully from additional drilling.  The second pillar should include results stemming from various engineering studies. And finally a third pillar would include results from completion of Phase three drilling which was suspended in June this year.

Obviously, the M&A game that gets going in a positive gold market cannot be discounted “but we have limited control on that” comments the CEO of Cartier. A large or mid-tier gold producer, looking to add ounces to reserves with a low CAPEX, is likely to be interested in acquiring the Chimo mine. While the mine is currently flooded it is a lot cheaper to dewater the existing shaft than it would be to sink a new one.

“To that end we have recently built an excellent data room,” said Cloutier. 

Flatteringly, Cloutier has read my book, Gold 3000 | Silver $60.

“Reading your book you have a chapter about what to look for in a junior company,” said Cloutier who has apparently memorized my list. “Activity? Lots. Stage of Development? We have discovery and we’ll have a 43-101. Infrastructure? We’re 45 kilometers from Val d’Or, good roads, power, and a 900-meter shaft with drifts already dug. Management? We’re pretty experienced. Shares Outstanding? Less than 200 million fully diluted. Call the CEO? I take every call. We tick all the boxes.”

With those boxes ticked what is the future of Cartier?

“What I liked about your book is that you say that there is tremendous leverage in junior explorers and developers in a bull run,” said Cloutier. “Which is true. For big companies like our investor Agnico Eagle to double they would have to go from about $75 a share to $150. Could happen but more than that is unlikely even in a big rally. For a little company like Cartier seeing 10x would only take us to $2.00. In a big rally that is not unrealistic. As for our downside, it is pretty minimal unless the entire market goes south.”

Cartier and Cloutier are anticipating a bull run. The announcement of the commencement of the 43-101 is highly strategic. So is the anticipated completion date of late in Q4 2019. A “respectable” 43-101 resource will be announced as the bull is beginning to run. More drill results, additions to the  resources at Chimo, engineering studies – all these are calculated to give the company a steady, positive, news flow right through the second quarter of 2020.

Cloutier has been savvy enough to hold off on his 43-101 until the market is ready to hear good news. For Cartier, now is the time to reach out to retail investors with a fully worked out, brown field mining story. A year ago, no one was listening, now they are. 

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Conference Season

In the junior mining business, there are conferences going on all the time. However, September is particularly conference heavy. The Metals Investors Forum just wrapped up in Vancouver and now many companies are at Beaver Creek Summit in Colorado. Then it is on to the Denver Gold Show next week.

You can see Beaver Creek presentations live here.

Over to your right you can watch Janet Sheriff give the Golden Predator presentation at the Metals Investors Forum. This is an excellent presentation with a focus on GPY’s Brewery Creek project in the Yukon.

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Cartier Awards Mandate for NI 43-101 Resource Estimate on Chimo Mine Project

Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) has awarded GeoPointCom the mandate to complete an initial resource estimate and a supporting NI 43-101 technical report for its 100% owned flagship Chimo Mine gold project located 45 kilometers east of Val-d’Or, Quebec.

Over the last few months, GeoPointCom has worked closely with Cartier personnel, particularly Mr. Ronan Déroff, P. Géo., Senior Geomatician, to build a 3D model of gold mineralization and underground infrastructure of the Chimo Mine property. This work structured the information to accelerate data modeling by GeoPointCom in order to produce a resource estimate of the main gold structures on the property.

We believe this work now warrants an initial resource estimate and a supporting NI 43-101 technical report for the Chimo Mine project” commented Philippe Cloutier, President and CEO.

Chimo Mine Project Highlights

  • The Chimo Mine produced 379,012 ounces of gold (MERN DV 85-05 to DV-97-01).
  • Cartier owns 100% interests of the property and no right of first refusal (” buy-back ”) have been granted.
  • Year-round access by road, proximal to 6 custom mills.
  • Gold mineralized material was mined intermittently from 14 zones by 3 different producers between 1964 and 1997.
  • Mine infrastructure consists of a 7 km network of drifts distributed on 19 levels, connected by a 3-compartment shaft 965 m deep. The headframe and surface facilities were dismantled in 2008 but the electrical line and the sand pit are still present.
  • Phases I II and III, carried out by Cartier on the Chimo Mine project, consisted of 109 holes for a total of 49,251 m. This work demonstrated the continuity of the main 5B and 5M gold zones beneath the existing mining infrastructures, explored the extensions of 19 gold zones peripheral to the main zones and further explored the extensions of the 7 prioritized gold zones; which led to the discovery of Zone 5NE as well as to expand the potential of Zones 6N1 and 5M4. These three zones offer excellent potential for additional discovery.

About Cartier
Cartier Resources was founded in 2006 and is based out of Val-d’Or, Quebec. Quebec has consistently ranked high as one of the best mining jurisdictions in the world primarily based on its mineral rich geology, attractive tax environment, and pro-mining government. In 2018, the Fraser Institute again ranked Quebec as one of the best jurisdictions in the world for investment attractiveness.

  • The Corporation has a strong cash position with over $5.0M in the bank and important corporate and institutional investors including Agnico Eagle Mines, JP Morgan UK and the Quebec investment funds.
  • Cartier’s strategy is to focus on gold projects that have an exploration potential for rapid expansion.
  • The Corporation holds a portfolio of exploration projects in the Abitibi Greenstone Belt in Quebec – one of the most prolific mining regions in the world – the commodity focus is gold.
  • The Corporation is focused on advancing its four key projects through drill programs. All of these projects were acquired at very reasonable valuations over the past few years. All of them are drill-ready with targets identified similar to the deposits that have been outlined on each project.

About GeoPointCom – Chistian d’Amour
GeoPointcom is a consulting firm in geostatistics and resource estimation. Since its founding in 2000, GeoPointcom has worked on 160 different projects from 19 independent companies covering 33 mining properties in 6 different countries. The majority of these mandates were geostatistical studies, 3D modeling and resource / reserve estimates. In some cases, the mandates included training on the use of Gemcom or Datamine software applied to the particularities of the client’s projects.

Quality Assurance / Quality Control
The scientific and/or technical information presented in this press release has been reviewed and approved by Mr. Gaétan Lavallière, P. Geo., Ph. D. and Vice-President for Cartier Resources. Mr. Lavallière is a qualified person as defined by National Instrument 43-101.

The independent qualified person for the issuer responsible for the completion of the mineral resource estimate as defined by National Instrument 43-101 is Mr. Christian D’Amours, P. Geo., President of GeoPointCom. Mr. D’Amours, declares that he has read this press release and that the scientific and technical information presented therein is in conformity.

For more information, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com
Investor Relations:
Relations Publiques Paradox
514 341-0408

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

 

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Marathon Announces a $20,061,500 Bought Deal Private Placement

Marathon Gold Corporation (“Marathon” or the “Company“) (TSX: MOZ) is pleased to announce it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. and Sprott Capital Partners (collectively, the “Underwriters“) pursuant to which they have agreed to purchase on a bought deal basis, 2,710,000 flow-through units that will consist of one flow-through share of the Company and one-half of one common share purchase warrant (the “Flow-Through Units“) at a price of C$1.85 per Flow-Through Unit and 11,400,000 common share units that will consist of one common share of the Company and one-half of one common share purchase warrant (the “Common Share Units” and together with the Flow-Through Units, the “Underwritten Securities“) at a price of C$1.32 per Common Share Unit for aggregate gross proceeds of C$20,061,500 (the “Underwritten Offering“). Each whole common share purchase warrant is exercisable into one common share of the Corporation at a price of C$1.60 per common share for a period of 24 months from the Closing Date (as defined herein).

In addition, the Company will grant the Underwriters an option to sell up to an additional 2,710,000 Flow-Through Units (the “Underwriter Option Securities” and together with the Underwritten Securities, the “Offered Securities“) at C$1.85 per Underwriter Option Security for additional gross proceeds of up to C$5,013,500 (the “Underwriter Option” and together with the Underwritten Offering, the “Offering“), exercisable at any time up to 48 hours prior to the closing of the Underwritten Offering.

As previously disclosed, Franco-Nevada Corporation acquired a 2.0% net smelter return royalty in February 2019 and Franco-Nevada has advised the Company that it intends to participate in the Underwritten Offering.  “Franco Nevada Corporation is the leading gold-focused royalty and streaming company and we are very pleased by their participation in the financing and ongoing support of the Company”, said Matt Manson, President & Chief Executive Officer of Marathon.

The Company intends to use the net proceeds of the Offering to continue exploration and development of the Valentine Lake gold project and for general corporate purposes. The proceeds received by the Company from the sale of Flow-Through Units will be used to incur Canadian exploration expenses that are “flow-through mining expenditures” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the “Qualifying Expenditures“) related to the Company’s Valentine Lake Gold Camp in Newfoundland, Canada. The Qualifying Expenditures will be renounced to the subscribers with an effective date no later than December 31, 2019, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issuance of Flow-Through Units.

The Offering is being made by way of private placement in Canada.  The Offered Securities will be subject to a four month hold period under applicable securities laws in Canada. Closing of the Offering is anticipated to occur on or about September 30, 2019 (the “Closing Date“) and is subject to receipt of regulatory approvals, including the acceptance of the Offering by the Toronto Stock Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.

About Marathon

Marathon is a Toronto based gold company rapidly advancing its 100%-owned Valentine Gold Project located in central Newfoundland, one of the top mining jurisdictions in the world. The Valentine Gold Project comprises a series of mineralised deposits along a 20-kilometer system of gold bearing Quartz-Tourmaline-Pyrite veins. The project is accessible by year-round road and is in close proximity to the provincial electrical grid. To date, four gold deposits at Valentine have been delineated, including the large Leprechaun and Marathon deposits. An October 2018 Preliminary Economic Assessment showed the project to be amenable to open pit mining and conventional milling over a twelve-year mine life. Total Mineral Resources currently comprise Measured Mineral Resources of 16.6 million tonnes at a grade of 2.18 g/t containing 1,166,500 oz. of gold, Indicated Mineral Resources of 28.5 million tonnes at a grade of 1.66 g/t containing 1,524,900 oz. of gold and Inferred Mineral Resources of 26.9 million tonnes at a grade of 1.77 g/t containing 1,531,600 oz. of gold. For more information, readers are referred to the technical report prepared in accordance with the requirements of NI 43-101 dated October 30, 2018 for further details and assumptions relating to the project.

To find out more information on Marathon Gold Corporation and the Valentine Gold Project, please visit www.marathon-gold.com.

Cautionary Statement Regarding Forward-Looking Information

Certain information contained in this news release constitutes forward-looking information within the meaning of Canadian securities laws (“forward-looking statements”). All statements in this news release, other than statements of historical fact, which address events, results, outcomes or developments that Marathon expects to occur are forwardlooking 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”, “estimates”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. More particularly and without restriction, this press release contains forward-looking statements and information about future exploration plans, objectives and expectations of Marathon, future mineral resource and mineral reserve estimates and updates and the expected impact of exploration drilling on mineral resource estimates, future pre-feasibility and feasibility studies and environmental impact statements and the timetable for completion and content thereof and statements as to management’s expectations with respect to, among other things, the matters and activities contemplated in this news release.

Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. In respect of the forward-looking statements and information concerning the interpretation of exploration results and the impact on the project’s mineral resource estimate, Marathon has provided such statements and information in reliance on certain assumptions it believes are reasonable at this time, including assumptions as to the continuity of mineralization between drill holes. A mineral resource that is classified as “inferred” or “indicated” has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an “indicated mineral resource” or “inferred mineral resource” will ever be upgraded to a higher category of mineral resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable mineral reserves.

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. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability of the current exploration program to identify and expand mineral resources, operational risks in exploration and development for gold, delays or changes in plans with respect to exploration or development projects or capital expenditures, uncertainty as to calculation of mineral resources, changes in commodity and power prices, changes in interest and currency exchange rates, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources), changes in development or mining plans due to changes in logistical, technical or other factors, cost escalation, changes in general economic conditions or conditions in the financial markets. delays and other risks described in Marathon’s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in Marathon’s Annual Information Form for the year ended December 31, 2018 and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. Other than as specifically required by law, Marathon undertakes 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.

SOURCE Marathon Gold Corporation

For further information: Matthew Manson, PhD, President and Chief Executive Officer, Tel: 1-416-987-0711, E-mail: mmanson@marathon-gold.com; Christopher Haldane, Investor Relations Manager, Tel: 1-416-987-0714, E-mail: chaldane@marathon-gold.com

Related Links

www.marathon-gold.com

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White Gold Corp. Makes New High-Grade Gold Discovery 15km West of Vertigo; Ongoing Regional Exploration Program Identifies Multiple Additional High-Priority Targets

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce results from its 2019 regional soil sampling program which identified multiple new high-priority gold targets, including a new high-grade gold discovery, the Titan target. The Titan is located on the road accessible Hen property, contiguous to the Company’s JP Ross property, less than 15km WNW from the Vertigo discovery, Yukon, Canada. Exploration results on the Titan include soil samples of up to >100,000 ppb Au, the highest soil value ever recorded within the Company’s White Gold District soil database comprised of 400,000+ soil samples. These soil samples are interpreted as being in-place and representative of the bedrock below due to the unglaciated nature of the area, indicating high priority targets for upcoming follow up activity including probe, trenching and RAB/RC drilling. The Company’s regional exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC) is ongoing on several high-priority gold targets, with activity including GT Probe sampling, geophysical surveys, trenching, geologic mapping, prospecting and RAB drilling, with related results to be released in due course.

Highlights Include:

  • New high-grade gold discovery on Titan target, Hen property. Results exceed 100,000 ppb Au, highest ever in company’s 400,000+ soil sample database; located less than 15km WNW from Vertigo discovery.
  • Preliminary follow up exploration encountered fine-grained visible gold in the subcrop of strongly quartz-sericite altered mafic gneiss with up to 5% disseminated magnetite.
  • Multiple new high priority targets identified. Soil sample results include; Nolan property up to 525.3 ppb Au, Wolf Property up to 247.2 ppb Au, among others.
  • Over 13,300 soil samples have been collected on 12 of the Company’s regional properties this season.
  • Follow up work on the Titan and other regional targets is in progress; activity includes trenching, GT Probe sampling and RAB drilling, with results to be released in due course.
  • Diamond drill results on Golden Saddle, Arc, Ryan’s Surprise and Vertigo targets as well as RC drill results on the VG Zone, to be released in coming weeks.
  • Management to present at upcoming Beaver Creek Precious Metals Summit and Denver Gold Forum.

Images to accompany this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

“Our soil sampling program has continued to successfully identify new gold zones and lead to significant discoveries across our vast portfolio of properties,” stated Jodie Gibson, VP of Exploration. “The Titan gold in soil grade at Hen is the highest we have ever recorded in the White Gold District. Ongoing follow-up activities which have also identified the presence of visual gold make the Titan a very exciting and highly prospective drill target. Located 15km from the Vertigo, this discovery is further evidence of a potential major gold system in the placer-rich Henderson Creek region that we are starting to tap into.”

Titan Discovery:
The Titan target is located on the Hen property, adjacent to the JP Ross on the west, and approximately 15km to the WNW of the Vertigo. A N-S oriented soil grid was placed over the area (100m spaced lines x 50m spaced samples) to follow up on historic soils in the area with anomalous gold (>100 ppb Au) & copper values.

Sampling returned values ranging from trace to >100,000 ppb Au (>100 g/t Au); the highest soil value within the Company’s soil database for the White Gold District comprised of over 400,000 samples. A follow up fire assay on the >100,000 ppb Au sample and rock samples collected from the area are in progress and the results are pending. The anomalous gold in soils form an approximate 500m N-S trending target and occurs within a circular magnetic low feature covering a 750m x 750m area and may indicate a buried intrusion with potential for porphyry and/or skarn style mineralization. A broad zone of anomalous Cu in soils (>100 ppm Cu; up to 1,395 ppm Cu) is also coincident with the magnetic feature, which appears to occur near the intersection of N-S and NE trending faults.

Prior to the Titan, the highest soil sample in the Company’s database was 9,019 ppb Au from the Donahue target on the White Gold property. The maximum soil values from other well-defined targets in the Company’s portfolio for comparison are present below:

PropertyTargetMax Soil Value – Au(ppb)
White Gold PropertyGolden Saddle426
White Gold PropertyArc1,241
JP Ross PropertyVertigo3,167
QV PropertyVG1,277
Hen PropertyTitan>100,000

The Hen property is situated within a prolific placer mining camp. Abundant, coarse placer gold has been recovered from creek gravels on North Henderson Creek immediately east of the Titan target. Additionally, the structural and geologic setting of the Hen indicate mineralization in the area is congruent with mineralized structures identified by the Company on the adjacent JP Ross property.

Preliminary follow up investigation of the highly anomalous gold in soil sample included the excavation of a pit overtop of the >100,000 ppb Au soil sample to an approximate depth of 90cm; the same depth as the soil sample. At that depth, subcrop of strongly quartz-sericite altered mafic gneiss with up to 5% disseminated magnetite and fine-grained specks of visible gold was encountered.

Additional ongoing follow up work on the target is ongoing and includes geologic mapping and prospecting, geophysical surveys and GT Probe sampling with a goal of defining drill locations on the target for later this season.

Table 1: Hen Property Soil Stats

Hen Property 2019 Soil Stats
Total Samples801
Range – Au(ppb)Trace – >100,000
Samples >100 ppb Au5
Samples >50 ppb Au7
Range – Cu(ppm)7.9 – 1,395
Samples >500 ppm Cu9
Samples >100 ppm Cu71

Regional Exploration Update:
A total of 13,302 soil samples have been collected on 12 of the Company’s regional properties. The sampling was conducted to follow up and/or expand upon previous known anomalous areas, evaluate new target areas, and/or for assessment purposes.

Multiple new trends and targets were defined from this soil sampling with follow up work ongoing, including GT Probe sampling, geophysical surveys, trenching, geologic mapping, prospecting, and RAB drilling, with related results to be released in due course.

A summary of the soils collected per property and range of assays returned to date are detailed in Table 1 below. Outside of the Hen, highlights include results from the Nolan, QV, and Wolf properties, with these discussed in more detail below.

Table 1 – Summary of Regional Soil Assays Received to Date

ProjectTotal SamplesRange – Au (ppb)
Wolf666Tr – 247.2
Wells319Pending
Hunker504Pending
Stewart513Tr – 34.6
Pedlar1171Tr – 70.8
Hen835Tr – >100,000
Nolan3152Tr – 525.3
Barker1742Tr – 63
QV/Yellow1466Tr – 106.2
Black Hills2650Tr – 82.3
Dime284Tr – 233.3

Regional Target Highlights:

Nolan:
A total of 3,152 samples were collected on the Nolan over four grids. The best results were returned from two grids in the Mount Hart area on the southeastern end of the property. The northern grid extended a historic grid 1,500m to the east and returned clusters of anomalous results expanding known soil anomalies in the area. The southern grid expanded the historic grid 1,500m to the south and uncovered a new 550m NW trending zone of anomalous gold in soils ranging from trace to 525.3 ppb Au. All together, at least five distinct anomalous zones are currently recognised on the Hart and dominantly occur within felsic-mafic volcanic units adjacent to Cretaceous granitic intrusive:

Hart N1:

  • Covers approx. 1,000m x 1,900m area
  • Au ranges from trace to 534.2 ppb Au with coincident Bi-Pb-Te

Hart N2

  • Covers approx. 700m x 300m NW trending area.
  • Au from trace to 620.6 ppb Au, gold only anomaly

Hart S1

  • Approx. 1300m x 1000m, circular, anomaly
  • Au from trace to 517.6 ppb Au with coincident Ag-As-Bi-Pb

Hart S2

  • Linear 1,000m x 200m NE trending anomaly
  • Au from trace to 645 ppb Au with coincident Cu

Hart S3

  • New, approx. 550m x 100m NW trending anomaly
  • Au from trace to 525.3 ppb Au, gold only anomaly

Wolf:
A total of 666 samples collected over 1 grid designed to expand grid coverage and known anomalies to the NE of the Wolf onto the Flow claims acquired from Independence Gold in 2018. The grid returned gold values ranging from trace to 247.2 ppb Au and expanded the zone of anomalous gold in soils in the area by approximately 1km. The anomaly occurs on the northern flank of Wolf Mt. and covers an approximate 1,400m x 300m E-W corridor associated with anomalous Ag, As, Bi, Pb +/- Cu and covers the contact of a Cretaceous granitic intrusive, adjacent gneiss/schist, and overlying felsic-intermediate volcanic units.

QV:
A total of 1,466 soil samples were collected over two grids on the QV and adjacent Yellow properties. The most significant results were from a previously unsampled area in the central portion of the QV property and included samples ranging from trace to 106.2 ppb Au. This includes expansion of the Tetra zone approximately 600m to the west, and the Tetra target now covers a 1,300m x 1,000m area and is associated with an E-W trending magnetic low interpreted as a potentially mineralized structure. The Tetra target is located approximately 8.5km north of the VG Zone, which hosts an Inferred Resource of 230,000 oz Au(1). A total of 8 RC holes for 855m were drilled on the VG deposit by the Company in 2019. Results for the RC drilling is expected to be released in the coming weeks.

(1) See White Gold Corp. news release dated March 1, 2019, available on SEDAR.

Upcoming Conferences
Management of the Company will be presenting at several upcoming conferences to provide a corporate update, answer questions and provide details on the recent discoveries and have also been selected for special group presentations as follows:

Precious Metals Summit Beaver Creek
Beaver Creek, Colorado – September 10-13, 2019
Presentation: Thursday, September 12, 2019 at1:45-2:00PM in Gerald R. Ford Conference Center, Lower (Main) Level, Room 2
More Information: https://www.precioussummit.com/event/2019-summit-colorado/
Denver Gold Forum
Denver, Colorado – September 15-18, 2019
Presentation: Tuesday, September 17, 2019 at 1:50-2:05PM in Hyatt Hotel, Room Centennial C (Explorer & Developer Forum)
More Information: https://www.goldforumamericas.com/

Please reach out to management if you would like to book a meeting at either of these conferences.

QA/QC
The analytical work for the 2019 program is being performed by ALS Canada Ltd. (ALS) and Bureau Veritas Commodities Canada Ltd. (BV), both internationally recognized analytical services provider, at their respective Vancouver, British Columbia laboratories.  Sample preparation was carried out at their Whitehorse, Yukon facilities. All rock, GT Probe,  RC chip, and diamond core samples were submitted to ALS and were prepared using procedure PREP-31H (crush 90% less than 2mm, riffle split off 500g, pulverize split to better than 85% passing 75 microns) and analyzed by method Au-AA23 (30g fire assay with AAS finish) and ME-ICP41 (0.5g, aqua regia digestion and ICP-AES analysis). Samples containing >10g/t Au are reanalyzed using method Au-GRAV21 (30g Fire Assay with gravimetric finish). All soil samples were submitted to BV and were prepared using procedure SS80 (dry at 60 C and sieve 100g at -80 mesh) and analyzed by method AQ201 (aqua regia digestion and ICP-MS analysis).

The reported work will be completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream.

About White Gold Corp.
The Company owns a portfolio of 22,040 quartz claims across 35 properties covering over 439,000 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t Au and 508,700 ounces Inferred at 1.48 g/t Au. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective discoveries and targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Goldcorp Corporation with a M&I gold resource(2) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(2) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.

(2) Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

Qualified Person
Jodie Gibson, P.Geo., Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include:; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca

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High Grade Silver Results, Including 6 Metres at 232 g/t Ag, Enhance San Marcial Project

 Goldplay Exploration Ltd. (TSXV: GPLYFRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce that additional high-grade silver (Ag) has been encountered in a re-opened old adit, or tunnel, at the Faisanes target (Figure 1) on the edge of the NI 43-101 silver resource area at the Company’s San Marcial Project (“San Marcial”), Sinaloa, Mexico, as announced in February this year (see News Release dated 7 February 2019).

Channel sampling along the walls of the historical tunnel, originally opened by artisanal miners, returned a high-grade silver zone containing 6 m at 232 g/t Ag (Table 1). The interval ended in high-grade material at the deepest sampled point within the tunnel. The Company is reviewing plans to extend the tunnel beyond this high-grade interval. The high-grade silver zone is within a broader zone of 11 m at 155 g/t Ag which commences at the opening of the shallow tunnel.

The high-grade silver in tunnel T-002 provides depth continuity, and correlates well with high-grade results in trench SMtr-001, which included 15 m at 472 g/t Ag within a broader zone of 56 m at 196 g/t Ag (Figure 2). Individual channel samples within the SMtr-001 trench reached as high as 1 m at 1,685 g/t Ag and 1m at 1,228 g/t Ag (see News Release dated 21 February 2019). The highest grade in tunnel T-002 is 1 m at 353 g/t Ag, providing continuity of the high grades at depth. This also correlates with silver grades up to 248 g/t Ag in drill hole SM-19-01. The drill hole, tunnel and surface trench are all located within the Faisanes target – a potential extension of the breccia-hosted silver mineralization in the adjacent resource area.

Goldplay President and CEO Marcio Fonseca commented“Over recent months, our exploration activities to expand existing NI 43-101 silver resources at San Marcial have succeeded in delineating new high-grade gold targets, but we have also been able to discover new silver zones peripheral to the resource area. These latest high-grade silver results, including 6m at 232 g/t Ag, from a re-opened historical adit at the Faisanes target, on the NW edge of the resource area provide lateral and depth continuity to the high-grade silver results reported from our nearby surface trench SMtr-001, which returned 56m at 196 g/t Ag. We expect to test this target further in our current drilling program, which already has identified bonanza-grade gold (1m at 204.6 g/t Au) in the adjacent SM-19-01.”

Table 1:   San Marcial Tunnel T-002: Best assay results

Tunnel

From (m)

To (m)

Sample
Length (m)

True 
Thickness (m)

Grade Ag

 (g/t)

Grade Pb

%

Grade 
Zn

%

T-002
including

0.0

11.0

11.0

9.5

155

0.14

0.56

5.0

11.0

6.0

5.2

232

0.19

0.62

Channel lengths are measured starting from the opening of the tunnel. All numbers are rounded. Mineralized zones are calculated allowing for maximum 1 m of internal waste. High grade interval uses 80 g/t Ag cut-off grade and low-grade interval uses 30 g/t Ag cut-off grade.

The potential of the Faisanes target area, to the NW of the San Marcial resource area, is demonstrated in Figures 2 and 3, which show the three dimensional relationship between the high grade silver mineralisation encountered in tunnel T-002 as well as in trench SMtr-001, and the recently reported high grade gold in SM-19-01. Further drilling of this target is planned in the Company’s current drilling program, to test the potential to expand the existing resource.

CURRENT DRILL PROGRAM

The Company is executing its San Marcial resource expansion strategy with its initial drill program at Faisanes and at Nava.

Phase I drilling at San Marcial brought immediate success with drill hole SM-19-01 intersecting a very high-grade gold interval of 1 m at 204.6 g/t Au at the Faisanes target on the western edge of the Resource (Figure 1). This high-grade gold intercept has been followed up with detailed geological and geochemical modelling. Findings from these newest studies strongly support further drilling along 600 metres of strike length at Faisanes in the Phase I drilling program. The discovery of a high-grade gold mineralized zone, associated with high grade silver and base metals (Pb-Zn), opens the exploration at San Marcial. The Company anticipates completing approximately 3 additional core drill holes at Faisanes during the current program to follow up on SM-19-01.

Drill hole SM-19-02, testing the Nava gold target 150 m beneath the broad gold interval in trench SMtr-020 that returned 24 m at 2.1 g/t Au (including 5 m @4.0 g/t Au), is now complete and SM-19-03 is currently underway, testing an easterly extension of the Nava target. The Nava target is located 1.5 km west of the San Marcial resource area and approximately 1 km west of the Faisanes discovery. A 500 m-long gold mineralized zone has been defined at Nava. For further details, see News Release dated 10 July, 2019. Logging and sampling of SM-19-02 is now complete with laboratory analyses pending.

Qualified Person

The scientific and technical data contained in this news release related to the San Marcial Project was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo., a non-independent qualified person to Goldplay Exploration Ltd. who is responsible to ensure that the geological information contained in this news release is accurate and who acts as “qualified person” under the National Instrument 43-101 Standards of Disclosure of Mineral Projects.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

Goldplay has implemented QA/QC procedures which include insertion of blank and standard samples in all sample lots sent to SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc in Burnaby, BC. The analytical methods are 4-acid Digest and Inductively Coupled Plasma Optical Emission Spectrometry with Lead Fusion Fire Assay with gravimetric finish for silver above over limits. For gold assays the analytical methods are Lead Fusion and Atomic Absorption Spectrometry Lead Fusion Fire Assay and gravimetric finish for gold above over limits.

About Goldplay Exploration Ltd.

Goldplay has successfully consolidated a district-sized portfolio, owning >250 sq. km of mineral concessions in the historic Rosario gold-silver Mining District in the state of Sinaloa, Mexico. Its flagship project, San Marcial, consists of a 1,250 ha land package located south of the La Rastra and Plomosas historic mines. San Marcial is a near-surface, high-grade silver, lead, and zinc open pit amenable project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019. Additionally, bonanza-grade gold was drilled in July 2019 at San Marcial, opening up the potential for further gold success. Goldplay’s 100% owned El Habal precious metals project is located 20 km west of the San Marcial Project. It comprises 3,700 hectares and is located 75 km southeast of the modern coastal port of Mazatlán, and 10 km on a paved road from the historic mining town of Rosario, Sinaloa, Mexico.

Goldplay’s current focus includes expanding its NI 43-101 resource estimate at the San Marcial project, which contains 36Moz Ag Eq (indicated) + 11Moz Ag Eq (Inferred), by defining new high-grade gold and silver targets along the project’s 6 km mineralized trend. Goldplay is the first company to perform exploration work at San Marcial in over 10 years. It is a low-risk development stage project, fully exploration permitted and supported by the local communities to carry out all proposed exploration activities. Only 500 m of the 6 km trend has been drilled to date, highlighting the significant potential for further discoveries. The Company has identified 8 high-priority targets along the 6 km trend and is currently drilling two high-priority targets at Faisanes and Nava. Some of these exploration targets consist of old shallow pits, caved shafts and historic shallow underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures in a felsic volcanic environment. Mapping and sampling by Goldplay have revealed evidence of dacite-rhyolite dome structures in a highly prospective geological environment for additional high-grade gold and silver discoveries.

The El Habal Project is a drill-stage project. Its oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historic shallow underground mining along a 6 km-long prospective corridor. The El Habal Project is located near the historic gold-silver Rosario Mine which operated for over 250 years.

Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries.

The NI 43-101 reports for each of the San Marcial and El Habal Projects are available on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com

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Golden Predator Mourns the Passing of Dennis Fentie, Former Director, Friend and Former Premier of the Yukon

Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company” or “Golden Predator”)  sadly reports that former Golden Predator Director and Yukon  Premier Dennis Fentie has lost his brave battle with cancer, passing away on August 29th, 2019. Dennis passionately and tirelessly served the Yukon for 10 years as Premier before re-entering the private sector where he brought the same passion, wisdom and enthusiasm as a key member of the Company’s board until his resignation two weeks ago.  On behalf of the Board of Directors, management and staff we offer our sincere condolences to his widow Lorraine and his extended family and friends.

“We all have lost a friend and a passionate advocate for the Yukon’s mining industry and the Yukon,” said William Sheriff, Executive Chairman. “A tireless leader, Dennis fully embraced our agenda to meaningfully contribute to community development and expansion of the Yukon’s mining sector as we build a strong company for our shareholders.  We are a stronger and better company due in large part to his influence and our hearts go out to Lorraine, his family and friends at this time.  His life is to be celebrated and his unparalleled contributions to the Yukon and our Company have left a legacy for the future.”

Golden Predator Mining Corp.
Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities, under its valid Quartz Mining and Water Licenses, in Canada’s Yukon. With established resources grading over 1.0 g/t Gold and low capex to production in a safe first world jurisdiction, Brewery Creek has a clear path to production as an economically and environmentally known project. Optimization studies are progressing to enhance the already positive multi-phase project economics described in the 2014 Preliminary Economic Assessment. Drilling continues to expand the open-ended resources and untested targets across the 186 km2 brownfield property.

At the 3 Aces project, Golden Predator continues to expand on discoveries of native gold in quartz veins while ongoing bulk sampling and processing at the 50 tpd Company-owned processing plant has demonstrated gold recoveries of over 85% using a chemical-free process. This green gold provides the gold for the mintage of .9999 gold coins from the Yukon Mint™, a wholly owned subsidiary of Golden Predator.

For additional information:
Janet Lee-Sheriff                                                                                                            

Chief Executive Officer                                                                                               
Golden Predator Mining Corp.
(604) 260-8435
info@goldenpredator.com
www.goldenpredator.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements express or implied regarding completion of the transactions described herein, the upcoming season at 3 Aces project, and  projected grades and gold and silver recoveries from the 2018 and proposed 2019 bulk sample program, Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

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Marathon Gold Reports Latest Drill Results from Marathon Deposit at Valentine Gold Project, NL

Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is pleased to announce positive results from the start of the infill drilling campaign at the Marathon Deposit, part of the Valentine Gold Project in central Newfoundland. This latest drilling is part of a series of planned infill and exploration drill holes designed to expand the estimate of Mineral Resources at the Marathon Deposit over the more than 1,500-meter strike length of the deposit’s “Main Zone” corridor. Of note, these drill results continue to successfully demonstrate the continuity of gold mineralization both along and across strike of the Main Zone as well as from surface to the base of the currently planned open pit, where mineralization remains open to depth. Highlights of the latest drilling include:

September 3rd, 2019 Drill Map

  • Main Zone: MA-19-405 intersected 3.87 g/t Au over 11.0 meters including 13.63 g/t Au over 2.0 meters and 3.78 g/t Au over 8.0 meters including 12.57 g/t Au over 2.0 meters.
  • Main Zone: MA-19-401 intersected 3.36 g/t Au over 13.0 meters including 12.81 g/t Au over 2.0 meters and 3.11 g/t Au over 3.0 meters.
  • Main Zone: MA-19-408 intersected 1.44 g/t Au over 62.0 meters including 7.70 g/t Au over 2.0 meters and 4.86 g/t Au over 2.0 meters, and 4.67 g/t Au over 3.0 meters.
  • Main Zone: MA-19-399 intersected 1.34 g/t Au over 39.0 meters including 8.87 g/t Au over 2.0 meters, and 3.40 g/t Au over 3.0 meters.
  • Main Zone NE: MA-19-400 intersected 12.32 g/t Au over 3.0 meters and 4.60 g/t Au over 4.0 meters, MA-19-404 intersected 10.22 g/t Au over 3.0 meters and 4.68 g/t Au over 4.0 meters, MA-19-407 intersected 3.36 g/t Au over 3.0 meters, and MA-19-411intersected 2.60 g/t Au over 3.0 meters; and,
  • Hanging & Footwall DDH’s, drilled along the outer flanks of the Main Zone corridor, intersected significant gold mineralization including in MA-19-406 7.40 g/t Au over 3.0 meters, 8.74 g/t Au over 3.0 meters, and 2.24 g/t Au over 7.0 meters and 4.88 g/t Au over 3.0 meters in MA-19-410.

The latest drilling has been oriented downward through the en-echelon stacked, shallowly SW dipping, gold-bearing Quartz-Tourmaline-Pyrite-Gold (“QTP-Au”) veins which form the dominant vein orientation within the sub-vertical Main Zone corridor of the Marathon Deposit (Table 1; Figure 1). It represents both infill drilling in areas currently classified as Inferred Mineral Resources in the October 2018 Mineral Resource Estimate and new exploration in areas of previously little drilling along the northeast end of the Main Zone corridor.

In addition to the results published today, assays are pending for new drilling which has intersected significant QTP-Au veining in both the NE end of the current open pit design as well as SW along strike on the Main Zone corridor.

Three drill rigs are currently operating at the Marathon Deposit, where a more than 20,000-meter infill and step out drilling program will be completed in September. Thereafter, two drill rigs will move on to complete a planned 7,000-meter exploration drilling campaign at the Sprite Zone.

All drilling completed to the end of September will be utilized in the upcoming Mineral Resource update for the Valentine Gold Project, expected to be completed in the fourth quarter of this year.

In addition to the exploration drilling, a 2,250-meter HQ core size geotechnical drilling program has recently been completed, the results of which will be for open pit design at the Leprechaun and Marathon Deposits in the upcoming Valentine Pre-Feasibility study scheduled for the second quarter of 2020.

TABLE 1: Significant assay intervals, Marathon Deposit, Valentine Gold Camp

DDHZone*SectionFromToCore
Length
(m)
True
Thickness
(m)
Gold g/t
MA-19-399MZ1709015215532.63.40
   1632023933.21.34
including  18218421.78.87
22422732.61.85
MA-19-400MZ1743018418732.712.32
19620043.64.60
23623932.72.12
24925232.72.07
27728032.73.54
MA-19-401FW – MZ17380808332.43.91
27127432.43.11
   3063191310.43.36
including  31731921.612.81
33633932.42.83
35235754.02.28
MA-19-404MZ17430697232.710.22
27527832.72.52
29229532.74.68
MA-19-405MZ17360616432.72.67
11411732.72.03
   279290119.93.87
including 28528721.813.63
33633932.712.66
   37238087.23.78
including  37337521.812.57
MA-19-406FW1700011912232.67.40
25325632.61.41
26927232.68.74
29730032.61.68
34835576.02.24
MA-19-407MZ17410808332.61.10
858832.62.92
19820243.41.06
21922232.63.36
MA-19-408MZ17340949732.91.84
10711032.91.89
12212532.94.67
14014332.91.18
15215532.93.22
   1682306258.91.44
including  17417621.97.70
including  19219421.94.86
MA-19-410HW17300384132.94.88
MA-19-411MZ1741023023332.62.29
23824132.62.60
*MZ = Main Zone, HW = Hanging Wall, FW = Foot Wall
*No significant intervals in MA-19-402, 403, and 409 drilled outside of the Main Zone

Acknowledgments

Marathon acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

Qualified Person

Disclosure of a scientific or technical nature in this press release was prepared under the supervision of Sherry Dunsworth, MSc., P.Geo (NL), the Senior VP of Exploration and a qualified person under National Instrument (“NI”) 43-101.

Quality Assurance-Quality Control (“QA/QC”)

QA/QC protocols followed at the Valentine Gold Project include the insertion of blanks and standards at regular intervals in each sample batch. Drill core is cut in half with one half retained at site, the other half tagged and sent to Eastern Analytical Limited in Springdale, Newfoundland. All reported core samples are analyzed for Au by fire assay (30g) with AA finish. All samples above 0.10 g/t Au in economically interesting intervals are further assayed using metallic screen to mitigate the presence of coarse gold. Significant mineralized intervals are reported in Table 1 as core lengths and estimated true thickness (80% – 95% of core length).

About Marathon

Marathon is a Toronto based gold company rapidly advancing its 100%-owned Valentine Gold Project located in central Newfoundland, one of the top mining jurisdictions in the world. The Valentine Gold Project comprises a series of mineralised deposits along a 20-kilometer system of gold bearing Quartz-Tourmaline-Pyrite veins. The project is accessible by year-round road and is in close proximity to the provincial electrical grid. To date, four gold deposits at Valentine have been delineated, including the large Leprechaun and Marathon deposits. An October 2018 Preliminary Economic Assessment showed the project to be amenable to open pit mining and conventional milling over a twelve-year mine life. Total Mineral Resources currently comprise Measured Mineral Resources of 16.6 million tonnes at a grade of 2.18 g/t containing 1,166,500 oz. of gold, Indicated Mineral Resources of 28.5 million tonnes at a grade of 1.66 g/t containing 1,524,900 oz. of gold and Inferred Mineral Resources of 26.9 million tonnes at a grade of 1.77 g/t containing 1,531,600 oz. of gold. For more information, readers are referred to the technical report prepared in accordance with the requirements of NI 43-101 dated October 30, 2018 for further details and assumptions relating to the project.

Acknowledgments

Marathon acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

For more information, please contact:

Matthew Manson, PhD                                             Christopher Haldane
President and Chief Executive Officer                      Manager Investor Relations
Tel: 416-987-0711                                                     Tel: 416-987-0714
Email: mmanson@marathon-gold.com                     Email: chaldane@marathon-gold.com

To find out more information on Marathon Gold Corporation and the Valentine Gold Project, please visit www.marathon-gold.com.

Cautionary Statement Regarding Forward-Looking Information

Certain information contained in this news release constitutes forward-looking information within the meaning of Canadian securities laws (“forward-looking statements”). All statements in this news release, other than statements of historical fact, which address events, results, outcomes or developments that Marathon expects to occur are 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”, “estimates”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. More particularly and without restriction, this press release contains forward-looking statements and information about future exploration plans, objectives and expectations of Marathon, future mineral resource and mineral reserve estimates and updates and the expected impact of exploration drilling on mineral resource estimates, future pre-feasibility and feasibility studies and environmental impact statements and the timetable for completion and content thereof and statements as to management’s expectations with respect to, among other things, the matters and activities contemplated in this news release.

Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. In respect of the forward-looking statements and information concerning the interpretation of exploration results and the impact on the project’s mineral resource estimate, Marathon has provided such statements and information in reliance on certain assumptions it believes are reasonable at this time, including assumptions as to the continuity of mineralization between drill holes. A mineral resource that is classified as “inferred” or “indicated” has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an “indicated mineral resource” or “inferred mineral resource” will ever be upgraded to a higher category of mineral resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable mineral reserves.

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.  Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability of the current exploration program to identify and expand mineral resources, operational risks in exploration and development for gold, delays or changes in plans with respect to exploration or development projects or capital expenditures, uncertainty as to calculation of mineral resources, changes in commodity and power prices, changes in interest and currency exchange rates, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources), changes in development or mining plans due to changes in logistical, technical or other factors, cost escalation, changes in general economic conditions or conditions in the financial markets. delays and other risks described in Marathon’s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in Marathon’s Annual Information Form for the year ended December 31, 2018 and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. Other than as specifically required by law, Marathon undertakes 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8869a98f-58a3-445a-bec1-b5956fb61a04

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Marathon Provides Update on Expected Milestones at the Valentine Gold Project

Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to provide an update on upcoming milestones concerning the exploration and development of the Valentine Gold Project in central Newfoundland. In summary:

  • Mineral Resource updates for both the Leprechaun and Marathon deposits to be completed in the fourth quarter. Infill drilling has been completed at the Leprechaun deposit, and both infill and exploration drilling are ongoing at the Marathon deposit. Exploration drilling in the Sprite Zone gap area will commence in September.
  • Valentine Pre-Feasibility Study team to be fully established by September, with completion forecast for early in the second quarter of 2020. The Pre-Feasibility Study is expected to result in the declaration of the project’s maiden Mineral Reserve.
  • The Valentine Gold Project has been registered with the relevant provincial and federal regulatory agencies, and an anticipated 24 month assessment period has begun. The provincial review committee has been established, and guidelines for an Environmental Impact Statement (“EIS”) are expected in October. Federal guidelines for the EIS were issued in July and, of note, Marathon has been informed that, at the federal level, the project’s assessment will proceed under normal course without the requirement for a panel review.

Matt Manson, President and CEO, commented “The Valentine Gold Project is a large and growing gold resource in one of the best mining jurisdictions of the world. It can be developed with conventional open-pit mining and milling methods, and offers a strong gold production profile and rate of return. We are advancing the project towards production through parallel programs of resource growth, advanced mining study, and environmental assessment. The 2019 in-fill drill program has demonstrated new mineralisation both within and adjacent to the existing resource shells, and we expect this will result in a positive impact on the project’s Mineral Resource estimate. This revised resource update will be incorporated into the Pre-Feasibility Study, which will also provide an opportunity to calibrate the project’s optimum scope and development plan prior to the commencement of a full Feasibility Study. Under the now initiated Environmental Assessment process, Marathon will seek to outline a project that is respectful to its location, the environment, impacted local communities, and regional stakeholders. The Valentine Gold Project has the potential to make a significant contribution to the people and economy of Newfoundland and Labrador.”

Drilling and Resource Estimation

During 2019 the Company has undertaken an extensive program of in-fill and resource conversion drilling on the main mineralized corridors of both the Leprechaun and Marathon deposits. This drilling has successfully established continuity of mineralisation within the existing Mineral Resource shells and extended the areas of known mineralisation. A positive impact on the existing Mineral Resource estimate is anticipated. Drilling has been completed in the Leprechaun area, and is expected to continue in the Marathon area through September, at which time two rigs will be moved to the Sprite Zone gap area. Drilling results will be reported as they are received.

The updated Mineral Resource estimate will utilize the more than 55,000 meters of new drilling that has been completed at the Leprechaun and Marathon deposits in the last 12 months. It is expected that the updated estimate will be released in the fourth quarter, following the completion of all necessary QA/QC protocols, the processing of all mineralized core samples by metallic screen fire assay, and peer review.

Based on the October 2018 Preliminary Economic Assessment, the Valentine Gold Project is currently estimated to contain 45.1 million tonnes of Measured and Indicated Mineral Resources at a grade of 1.85 g/t containing 2.68 million oz of gold, and 26.9 million tonnes of Inferred Mineral Resources at a grade of 1.77 g/t containing 1.52 million oz. of gold. Both the Leprechaun and Marathon deposits are open along strike and to depth. Readers are cautioned that the Preliminary Economic Assessment is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the Preliminary Economic Assessment will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability

Pre-Feasibility Study

The full team of lead and specialized sub-consultants for the Valentine Gold Project Pre-Feasibility Study (“PFS”) is expected to have been appointed by September. The PFS will incorporate the updated Mineral Resource estimate and is expected to result in the declaration of the project’s maiden Mineral Reserve. The PFS will incorporate a trade-off study designed to assess the optimum scope, value, and execution strategy for the project, and will incorporate an updated production schedule, facilities design, operating and capital cost estimates, and an optimum process design based on the results of ongoing metallurgical testing. The PFS is expected to take approximately 6 months to complete, with results expected early in the second quarter of 2020.

Permitting and Environmental Assessment

The Valentine Gold Project is subject to regulation under the environmental protection regimes of the Canadian Environmental Assessment Act and the Newfoundland and Labrador (“NL”) Environmental Protection Act. Marathon filed a project description with both the Canadian Environmental Assessment Agency (“CEAA”) and the NL Department of Municipal Affairs and Environment (“NLDMAE”) on April 5, which was accepted into a formal Environmental Assessment (“EA”) process on April 16.

As expected, the CEAA issued a determination for a project Environmental Impact Statement on May 31, and issued guidelines for the EIS on July 18. Marathon has been informed that the CEAA will request the EIS to proceed under normal course without the requirement for a panel review, which is an extended process often required for projects of significant environmental impact or public concern.

In parallel with the CEAA, and also as expected, the NLDMAE issued a determination for a project EIS on June 13. NLDMAE guidelines for an EIS are expected to be received by October 9, following a 120 day period to allow departmental and public consultation. The establishment of NL EA committee for the Valentine Gold Project was announced on July 3, which will be the principal forum for project review, consultation and, ultimately, ministerial approval.

In support of the EA process, Marathon will engage in a comprehensive program of impact assessment on wildlife and fish habitat, water and air quality, third party co-located infrastructure, and communities. Much of this program, in the form of environmental baseline studies, commenced with the first exploration drill programs in 2010. Formal stakeholder engagement with the communities of Buchans, Millertown and Grand Falls-Windsor, as well as the Qualipu and Miawepukek (Conne River) First Nations commenced in March 2019.

Completion and submission of the EIS is scheduled for mid-2020, and the complete Valentine Gold Project EA process is expected to take approximately 24 months.

Qualified Person

Disclosure of a scientific or technical nature in this press release was prepared under the supervision of Sherry Dunsworth, MSc., P.Geo (NL), the Senior VP of Exploration and a qualified person under National Instrument (“NI”) 43-101.

About Marathon

Marathon is a Toronto based gold company rapidly advancing its 100%-owned Valentine Gold Project located in central Newfoundland, one of the top mining jurisdictions in the world. The Valentine Gold Project comprises a series of mineralised deposits along a 20 kilometer system of gold bearing Quartz-Tourmaline-Pyrite veins. The project is accessible by year-round road and is in close proximity to the provincial electrical grid. To date, four gold deposits at Valentine have been delineated, including the large Leprechaun and Marathon deposits. An October 2018 Preliminary Economic Assessment showed the project to be amenable to open pit mining and conventional milling over a twelve year mine life. Total Mineral Resources currently comprise Measured Mineral Resources of 16.6 million tonnes at a grade of 2.18 g/t containing 1,166,500 oz. of gold, Indicated Mineral Resources of 28.5 million tonnes at a grade of 1.66 g/t containing 1,524,900 oz. of gold and Inferred Mineral Resources of 26.9 million tonnes at a grade of 1.77 g/t containing 1,531,600 oz. of gold. For more information, readers are referred to the technical report prepared in accordance with the requirements of NI 43-101 dated October 30, 2018 for further details and assumptions relating to the project.

Acknowledgments

Marathon acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

For more information, please contact:

Matthew Manson, PhD
President and Chief Executive Officer
Tel: 416-987-0714
Email: mmanson@marathon-gold.com
Christopher Haldane
Manager Investor Relations
Tel: 416-987-0714
Email: chaldane@marathon-gold.com

To find out more information on Marathon Gold Corporation and the Valentine Gold Project, please visit www.marathon-gold.com.

Cautionary Statement Regarding Forward-Looking Information

Certain information contained in this news release constitutes forward-looking information within the meaning of Canadian securities laws (“forward-looking statements”). All statements in this news release, other than statements of historical fact, which address events, results, outcomes or developments that Marathon expects to occur are 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”, “estimates”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. More particularly and without restriction, this press release contains forward-looking statements and information about future exploration plans, objectives and expectations of Marathon, future mineral resource and mineral reserve estimates and updates and the expected impact of exploration drilling on mineral resource estimates, future pre-feasibility and feasibility studies and environmental impact statements and the timetable for completion and content thereof and statements as to management’s expectations with respect to, among other things, the matters and activities contemplated in this news release.

Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. In respect of the forward-looking statements and information concerning the interpretation of exploration results and the impact on the project’s mineral resource estimate, Marathon has provided such statements and information in reliance on certain assumptions it believes are reasonable at this time, including assumptions as to the continuity of mineralization between drill holes. A mineral resource that is classified as “inferred” or “indicated” has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an “indicated mineral resource” or “inferred mineral resource” will ever be upgraded to a higher category of mineral resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable mineral reserves.

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.  Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability of the current exploration program to identify and expand mineral resources, operational risks in exploration and development for gold, delays or changes in plans with respect to exploration or development projects or capital expenditures, uncertainty as to calculation of mineral resources, changes in commodity and power prices, changes in interest and currency exchange rates, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources), changes in development or mining plans due to changes in logistical, technical or other factors, cost escalation, changes in general economic conditions or conditions in the financial markets. delays and other risks described in Marathon’s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in Marathon’s Annual Information Form for the year ended December 31, 2018 and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. Other than as specifically required by law, Marathon undertakes 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.

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