Marathon Gold Announces Substantial Improvements in Updated PEA with 44% Increase in Recovered Gold, at the Valentine Lake Gold Camp, Newfoundland

T.MOZ, Marathon Gold

Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is pleased to announce the excellent results from an updated independent Preliminary Economic Assessment study (“PEA”) on its 100% owned Valentine Lake Gold Camp that was led by John T. Boyd Company and Lycopodium Minerals Canada. The new PEA optimizes the development of the Valentine Lake Gold Camp mineral resource by open pit mining, and gold recovery by a combination of a milling circuit and heap leaching, incorporating gravity and flotation circuits with leaching of the concentrate and tails. The study is based on an initial 12-year mine life and produced an after- tax Net Present Value (“NPV”) of $493 million using a 5% discount rate. The financial model shows an after- tax Internal Rate of Return (“IRR”) of 30% and a capital payback period of 2.5 years.  All dollar figures are reported in US$ and after-tax unless stated otherwise. read more

Cartier Iron Completes Financing; Big Easy Property Drilling to Commence Next Week

Cartier Iron Corporation (CSE: CFE) (“Cartier Iron”) is pleased to announce that it has completed a previously announced non-brokered private placement (the “Private Placement”) of 2,000,000 flow-through units of Cartier Iron at a price of $0.10 per unit (“F-T Units”) for proceeds of $200,000 and 5,000,000 non-flow-through units of Cartier Iron at a price of $0.08 per unit (“Units”) for additional proceeds of $400,000. read more

Cartier Announces Commencement of Diamond Drilling Program at the Big Easy Gold Property, Newfoundland

Cartier Iron Corporation (CSE: CFE) (“Cartier Iron” or the “Company”), is pleased to announce that the Company has retained New Valley Drilling to complete up to 2,000 metres of diamond drilling to test major targets on its Big Easy Gold property, located approximately 20 km northwest of the town of Clarenville, about 200km northwest of St. John’s, Newfoundland (Figure 1).  Big Easy hosts an extensive, but little explored, low sulphidation epithermal gold system that occurs on a prominent boundary between volcanic and sedimentary rocks in the Neoproterozoic Avalon Zone.  The Induced Polarization/Resitivity (IP/Res) survey completed in winter 2018 outlined a four kilometre long chargeability anomaly extending from the Big Easy to the ET showings. This anomaly is open along strike to the north and south (see press release May 1, 2018 and Figure 2). read more