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Marathon’s Infill Drilling Continues to Confirm Open-Pit, High-Grade Gold Continuity, Valentine Lake Gold Camp, NL

Drilling Highlights:

  • The Marathon Deposit infill drill holes MA-19-350, MA-19-351 and MA-19-352 intersected wide zones of QTP-Au veining with visible gold over a strike length of 100 meters within the open-pit core region of the main mineralized corridor; further confirming the geological model for lateral continuity of the higher-grade gold mineralization between adjacent drill holes at shallow depths in the Marathon Deposit (Figures 1 and 2):
    • MA-19-352 intersected 4.14 g/t Au over 27.0 meters including 9.71 g/t Au over 7.0 meters, and 2.32 g/t Au over 39.0 meters including 4.77 g/t Au over 6.0 meters as well as other high-grade intervals (Table 1 and Figure 2).
    • MA-19-351 intersected 2.73 g/t Au over 24.0 meters including 7.57 g/t Au over 3.0 meters and 15.44 g/t Au over 1.0 meter.
    • MA-19-350 intersected 2.29 g/t Au over 24.0 meters including 5.37 g/t Au over 3.0 meters, 9.11 g/t Au over 1.0 meter and 8.35 g/t Au over 1.0 meter.          
  • The thick, high-grade gold intervals from the infill drill holes MA-19-350 to MA-19-352, which were drilled subvertical, down through en-echelon stacked, shallow southwest dipping QTP veining and located between adjacent strongly mineralized drill holes in the main zone, further confirm the geological model for the Marathon Deposit and the extensive lateral continuity of the QTP veining between adjacent drill holes.

Program Update:

  • The winter 2019 infill drilling campaign has focused on infill drilling at the Marathon Deposit which is currently the largest resource in the Valentine Lake Gold Camp. The results of this infill drilling continue to validate the mineralization boundary in the block model as well as the lateral continuity of the high-grade mineralized zones.
  • Advanced metallurgical testing of material from both the Marathon and Leprechaun Deposits is continuing with focus on optimizing both mill and heap leach recoveries.
  • A Project Description is being prepared for submission to the Federal and Provincial regulators, a key step in the overall regulatory approvals process.

TORONTO, Feb. 14, 2019 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is pleased to announce the excellent results from drill holes MA-19-350, MA-19-351 and MA-19-352, which were strategically located between existing, strongly mineralized drill holes in the open pit portion of the Marathon Deposit (Figure 1). Each of these drill holes succeeded in intersecting strongly mineralized, en-echelon stacked QTP-Au veining with thick intervals of higher-grade gold intercepts. The intent of the infill drilling program is two-fold; first, to further confirm Marathon’s geological model by demonstrating the extensive lateral continuity of the QTP-Au veining into adjacent drill holes both along and across strike; and second, to continue to upgrade Inferred resource material into the Measured and Indicated resource categories.

“The infill holes are adding confidence to our model and providing better definition of the mineralization. As with all infill programs, we expect there will be changes to the resources. So far, we see good correlation of the mineralization as predicted by the geological model including the presence of visible gold,” said Phillip Walford, President and CEO of Marathon Gold. “These new gold intersections are expected to upgrade Inferred material to Measured and Indicated resources while also adding additional Inferred material. Assays are pending on more drill holes located along the strike length of the deposit (Figure 1), all of which have intersected wide intervals of QTP veining with abundant visible gold. All initial fire assay analysis above 0.1 g/t Au are further assayed using the metallic screen method which more accurately reflects free gold content and typically shows a significant increase in grade for material over 1.5 g/t Au at the Marathon Deposit.”

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

DDHSectionFromToCore Length (m)True Thickness (m)Gold g/t
MA-19-35017160404332.91.27
72962422.82.29
including7273119.11
including7879118.35
including838632.95.37
16917232.91.31
MA-19-35117240535632.91.43
791032422.82.73
including798232.94.26
including909332.97.57
including1021031115.44
MA-19-3521714061487.63.25
including111432.96.29
222532.93.89
384243.82.37
62892725.74.14
including626976.79.71
including848621.98.68
949954.81.78
12713032.93.25
1662053937.12.32
including16616821.97.78
including17818465.74.77

Figure 1: http://www.globenewswire.com/NewsRoom/AttachmentNg/ec7924e6-a173-4178-a0de-fa6d606d2c29

Figure 2: http://www.globenewswire.com/NewsRoom/AttachmentNg/0f8993e8-e1f3-4416-8353-141ef1561541

Acknowledgments

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

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

Sherry Dunsworth, M.Sc., P. Geo., Senior VP of Exploration, Marathon’s Qualified Person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon. Thorough QA/QC protocols are followed including 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 (95% of core length).

About Marathon

Marathon is a Toronto based gold exploration company rapidly advancing its 100% owned Valentine Lake Gold Camp located in Newfoundland and Labrador, one of the top mining jurisdictions in the world. The Valentine Lake Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 2,691,400 oz. of gold at 1.85 g/t and inferred resources totaling 1,531,600 oz. of gold at 1.77 g/t. The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the current open pit shell. Both deposits are open to depth and on strike. Gold mineralization has been traced down over 350 meters vertically at Leprechaun and almost a kilometer at Marathon. The four deposits identified to date occur over a 20-kilometer system of gold bearing veins, with much of the 24,000-hectare property having had only minimal exploration activity to date.

The Valentine Lake Gold Camp is accessible by year-round road and is in close proximity to the provincial electrical grid. Marathon maintains a 50-person all-season camp at the property. Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and 50% to 70% recoveries via low cost heap leaching at both the Leprechaun and Marathon Deposits.
To find out more information on the Valentine Lake Gold Camp please visit www.marathon-gold.com.

For more information, please contact:

Christopher Haldane
Investor Relations Manager
Tel: 1-416-987-0714
E-mail: chaldane@marathon-gold.com
Phillip Walford
President and Chief Executive Officer
Tel: 1-416-987-0711
E-mail: pwalford@marathon-gold.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to Marathon Gold Corporation, certain information contained herein constitutes “forward-looking statements”. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes.  By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corporation’s public filings, which may be accessed at www.sedar.com.  Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.

 

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Precious Metals Near Key Turning Point – goldfinger

Writing at CEO.CA goldfinger runs through some technical analysis of the precious metals markets,

“The right shoulder of this potential head & shoulders bottom hasn’t fully formed yet. But if it does, and the gold/SPX ratio eventually breaks the neckline near .52, it would send a powerful signal that a turn is at hand and one should probably raise exposure to precious metals and mining shares.”

He’s not calling an upswing quite yet but he is pointing to inflection points on the charts where that upswing might start.

goldfinger is always a good read.

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Eagle Gold stays on pace through winter

Excellent article on Victoria Gold’s incredible effort to bring home the mine at Dublin Gultch.

“While temperatures at Eagle Gold average a bone chilling -24 degrees Celsius (-10.3 degrees Fahrenheit) in December and an even colder -27 degrees Celsius (-16.4 degrees Fahrenheit) in January, Victoria Gold President and CEO John McConnell told Mining News that development remains on schedule for the next large-scale gold mine in the Yukon to deliver its first gold in the second half of this year.

He credits the roughly 450 men and women working at the site, more than half from the Yukon, for this success.

“There is a tremendous team of people on site with over 25 contractors fully engaged to transform the Eagle Gold Project into the Eagle Gold Mine,” McConnell said at the time. “The progress to date is impressive and we have the construction and operations teams in place to deliver Canada’s next gold mine.” Mining News North

Bundle up and read the whole thing.

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Gold opportunities in the Abitibi Greenstone Belt – EquityGuru

Greg Nolan does a great job running through a dozen explorers and development companies in the Abitibi.

“Every day that a gold miner digs ore out of the ground – every day the company is in business – they reduce their inventory of the shiny stuff.

Years of slashed exploration budgets have choked off their pipeline to new sources of the metal.

This spells opportunity for shareholders.” equity guru

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Cartier Cuts 10.6 g/t Au over 6.0 m in New Zone 5NE at Chimo Mine

Highlights:

  • These results from Zone 5NE are the best from Cartier drilling on the project considering the high grades factored over the core lengths that were intercepted.
  • Phase II drilling is underway and Phase III will test the extensions of the new Zone 5NE.

Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) reports drill results grading 10.6 g/t Au over 6.0 m included within 4.5 g/t Au over 21.0 m both included within a 57.0 m section grading 2.5 g/t Au.  As well, a section grading 7.5 g/t Au over 4.0 m is included within a 13.0 m section grading 3.2 g/t Au (FIGURE).  All of these results are in the Zone 5NE of the Chimo Mine property, located 45 km east of Val-d’Or.

The new results, which are situated at a depth of 650 m, are in addition to: 12.4 g/t Au over 5.0 m included within 5.9 g/t Au over 12.0 m (FIGURE), recently reported by Cartier, and within a 100-m radius of the new results. The potential of this area is open in all directions. Zone 5NE is located only 25 m from the 5M4 Zone and 450 m from the existing underground infrastructure at this depth (FIGURE).

« The results recently obtained from Zones 5NE and 5M4 will monopolize the first part of the Phase III drill program in order to explore the continuity of the zones » commented Philippe Cloutier, President and CEO.

The details of the new results received from the laboratory are as follows:

Drill HoleFrom
(m)
To
(m)
Length (m)Au
(g/t) 
Gold ZoneGold Structure
CH18-52A1E702.0708.06.010.65NE5N
Included within702.0723.021.04.5
Included within698.0755.057.02.5
CH18-52A1720.0724.04.07.5
Included within711.0724.013.03.2
Included within702.9754.551.61.6
CH18-52A1E777.8778.50.733.05M45M
Included within777.8798.620.82.4
CH18-52A1798.5799.00.512.6
Included within774.0799.825.81.0

Lengths are expressed along drill core axis.  The true thickness was not determined.

The Phase II drill program currently underway is focused on testing the potential of 7 peripheral gold zones to the main cluster of Zones 5. This program consists of 40 drill holes totaling 15,000 m.

The reader should view the YouTube VIDEO, available on Cartier’s website.  The 3D video helps visualize the different gold-bearing structures on the Chimo Mine property as well as key components that are the mine infrastructures, the gold-bearing zones, the gold intersection areas left unmined as well as the main targets of the ongoing drill program.

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.
  • Year-round access by road, proximal to custom mills.
  • Gold mineralized material was mined intermittently from 14 zones by 3 different producers.
  • Mine infrastructure consists of a 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.
  • A 105-hole drill program totaling 45,000 m (Phases I and II) has been underway since July 2017.

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 2017, the Fraser Institute again ranked Quebec as one of the best jurisdictions in the world for investment attractiveness.

Cartier Investment Highlights

  • The Corporation has a strong cash position with over $7.5M 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.
  • In 2019, an ongoing program of 105 holes totaling 45,000 m (Phases I and II) aims to test the extension of several gold mineralized zones on the Chimo Mine Project.

Quality Assurance / Quality Control
All lengths, mentioned in this press release, were measured along the drill core. The NQ core samples are crushed up to 80% passing 8 mesh sieves and then pulverized up to 90% passing a 200-mesh sieve. Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of sterile samples to ensure quality control. The samples are analyzed at the Techni-Lab laboratory (Actlabs), located in Ste-Germaine-Boulé, Quebec. The 50 g pulps are analyzed by fire assay and atomic absorption. For samples containing visible gold, 1,000 g of rock are directly analyzed by the “Metallic Sieve” method.

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.

For more information, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

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

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e7105112-b1e1-4110-aabd-67ce53904d5f

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Aben Resources Grants Stock Options

Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (the “Company”) announces, pursuant to its stock option plan, the Company has granted incentive stock options to its directors, officers, employees and consultants to purchase up to an aggregate of 4,000,000 common shares in the capital stock of the Company, exercisable for a period of two years, at a price of $0.16 per share. The Company’s 10% rolling stock option plan was approved by the shareholders at the Annual General Meeting of the Company held on July 25, 2018.

About Aben Resources:

Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia, the Yukon Territory, and Saskatchewan. Aben is a well-funded junior exploration company with over $5 million in its treasury and no debt.

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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Victoria Gold Construction Video

It may be cold and dark in the Yukon but that is not stopping the construction of Victoria Gold’s mine at Dublin Gulch.

Here’s this month’s video:

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Eloro Resources Ltd. Wins Business of the Year Award from the Peruvian-Canadian Chamber of Commerce

Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloro” or the “Corporation”) is pleased to announce that the Corporation has won the ‘Business of the Year’ award from the Peruvian-Canadian Chamber of Commerce (”PCCC”).

The Business of the Year award is given to ”‘the Canadian or Peruvian organization that has shown great commitment to the development of Peruvian/Canadian relationships and a high degree of success in the areas of Management and Social Responsibility.”

Eloro was chosen to receive the award with unanimous agreement of the PCCC selection committee, recognizing “Eloro Resources Ltd. as the “Business of the Year” for their commitment to Peru’s economic development through a long-term presence with mining exploration and engaging in social responsible activities.

As winner of the Business of the Year award, Eloro Resources Ltd. joins the Consulate of Peru in Toronto, winner of the Government Institution of the Year award, and Mrs. Patricia Fortier, winner of the Special Recognition award.

Eloro CEO Tom Larsen said, “We are delighted to accept the Business of the Year award from the Peruvian-Canadian Chamber of Commerce on behalf of our shareholders; our employees and colleagues in Lima and especially the communities of Huandoval, Puno, Huacaschuque, and Pallasca, where our Peruvian subsidiary Cia Minera Eloro Peru SAC has been working since 2016. The Peruvian-Canadian Chamber of Commerce is the pre-eminent organization that works in the development of better and stronger commercial, social, and cultural ties between Canada and Peru, and Eloro is delighted to support them in their valuable works.”

Eloro President Bill Pearson, PhD, P.Geo. noted, “Working with our neighbours in the Pallasca District is the right thing to do, and we will continue with these efforts. We look forward to being a part of the 2020 Presupuesto Participativo regional budgeting process in the Cabana-Pallasca region in June, 2019 so that our goals are completely aligned with that of the communities in which we are living and working.”

The Business of the Year award will be presented to Dr. Bill Pearson, P.Geo., President of Eloro Resources Ltd., at the Peruvian-Canadian Chamber of Commerce Awards Ceremony, to be held on February 28, 2019, in Toronto, Canada.

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Peru and Quebec. Eloro owns a 90% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Tahoe’s La Arena Gold Mine. The Property consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. The Property has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,100 m to 4,200 m above sea level.

For further information please contact Jorge Estepa, Vice-President of Eloro Resources Ltd. at (416) 868-9168.

Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Corporation’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Corporation. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

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

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Marathon Deposit Infill Drilling Confirms Continuity of High-Grade Gold Veining between adjacent Drill Holes in Pit Shell, Valentine Lake Gold Camp, Newfoundland

Drilling Highlights:

  • The first 2 drill holes of the 2019 infill drilling campaign in the Marathon Deposit have succeeded in intersecting wide zones of QTP-Au veining with abundant visible gold in the open-pit core area of the main mineralized corridor; the success of these holes confirms the lateral continuity of the higher-grade gold mineralization between adjacent drill holes at shallow depths in the Marathon Deposit (Figure 1):
    • MA-19-348 intersected 3.92 g/t Au over 23.0 meters with 8.98 g/t Au over 4.0 meters and 6.86 g/t Au over 3.0 meters and a separate interval of 3.55 g/t Au over 10.0 meters with 6.52 g/t Au over 3.0 meters and other high-grade intervals as in Table 1.
    • MA-19-349 intersected several good zones, 2.10 g/t Au over 29.0 meters including 5.43 g/t Au over 4.0 meters and 4.65 g/t Au over 4.0 meters, 1.96 g/t Au over 24.0 meters including 3.86 g/t Au over 6.0 meters, 4.88 g/t Au over 2.0 meters and 1.33 g/t Au over 38.0 meters.
  • The excellent gold grades from infill drill holes MA-19-348 and MA-19-349, drilled subvertical, down through en-echelon stacked, shallow SW dipping QTP veining and located between adjacent strongly mineralized drill holes in the main zone, further confirms that the geological model we have been using for the Marathon Deposit and proves the extensive lateral continuity of the QTP bearing veins between adjacent drill holes.

Program Update:

  • The winter 2019 infill drilling campaign is underway with the focus on infill drilling at the Marathon Deposit, converting Inferred resources into Measured and Indicated resources in advance of the Pre-Feasibility Study (PFS). The first holes of the program are designed to validate the block model high grade zones that would be mined during the early years of mine production at the Marathon Deposit.
  • Advanced metallurgical testing continues on material from both the Marathon and Leprechaun Deposits, to optimize both mill and heap leach recoveries. Planning is also underway for geotechnical and environmental programs required for the PFS.
  • The Project Description is being prepared for submission to the Federal and Provincial regulators. This is an important first step in developing the Environmental Assessment program for mine permitting.
February 6th Drill Map
February 6th, 2019 Drill Map
Figure 1: Location of drill hole collars MA-19-348 and MA-19-349, Marathon Deposit

TORONTO, Feb. 06, 2019 (GLOBE NEWSWIRE) —  Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is pleased to announce excellent results from the first drill holes of the 2019 exploration drilling campaign at the Valentine Lake Gold Camp. The drill holes MA-19-348 and MA-19-349 were strategically located between existing, strongly mineralized drill holes in the open pit portion of the Marathon Deposit (Figure 1). These drill holes succeeded in intersected strongly mineralized, en-echelon stacked QTP-Au veining with wide intervals of higher-grade gold intercepts. This provides additional support of our geological model, demonstrating the extensive lateral continuity of the QTP-Au veining into adjacent drill holes both along and across strike. It is also significant to note that there is significant low- grade mineralization between the higher-grade intervals in drill holes MA-19-348 and MA-19-349.

“The success of new infill drill holes into the Marathon Deposit open-pit cannot be overstated”, said Phillip Walford, President and CEO of Marathon Gold. “Our geological model is sound and additional 2019 infill drill holes, for which assays are still pending, have likewise intersected wide intervals of QTP veining with abundant visible gold. The assays released today are fire assays and all assays above 0.1 g/t are further assayed using the metallic screen method to better estimate the gold content when free gold is present. At the Marathon Deposit, fire assay analysis greater than 1.5 g/t Au typically show a significant increase in grade, sometimes more than 100%, with metallic screening, while analysis below 1.5 g/t Au may show a slight decrease in gold grade”.

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

DDHSectionFromToCore
Length
(m)
True
Thickness
(m)
Gold g/t
MA-18-3481719014372321.93.92
including212211.05.89
including252943.88.98
including343732.96.86
485132.91.27
626532.91.64
10811576.72.70
including10911121.95.01
177187109.53.55
including17718032.96.52
including18218311.07.06
MA-18-34917160161932.91.31
263043.81.63
566487.62.68
including616432.95.17
731113836.11.33
including919654.83.05
including10510721.96.02
1231472422.81.96
including13113321.94.88
including14114765.73.86
15315632.91.33
16917787.62.76
including17517721.95.87
2012302927.62.10
including20120543.84.65
including21722143.85.43

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/bf94f366-03f1-481f-bb4a-4987c844bc9c

A 3D Model of the Marathon Deposit showing drill holes MA-19-348 and MA-19-349 is available at www.corebox.net.

Acknowledgments

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

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

Sherry Dunsworth, M.Sc., P. Geo., Senior VP of Exploration, Marathon’s Qualified Person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon. Thorough QA/QC protocols are followed including 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 (95% of core length).

About Marathon

Marathon is a Toronto based gold exploration company rapidly advancing its 100% owned Valentine Lake Gold Camp located in Newfoundland and Labrador, one of the top mining jurisdictions in the world. The Valentine Lake Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 2,691,400 oz. of gold at 1.85 g/t and inferred resources totaling 1,531,600 oz. of gold at 1.77 g/t. The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the current open pit shell. Both deposits are open to depth and on strike. Gold mineralization has been traced down over 350 meters vertically at Leprechaun and almost a kilometer at Marathon. The four deposits identified to date occur over a 20-kilometer system of gold bearing veins, with much of the 24,000-hectare property having had only minimal exploration activity to date.

The Valentine Lake Gold Camp is accessible by year-round road and is in close proximity to the provincial electrical grid. Marathon maintains a 50-person all-season camp at the property. Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and 50% to 70% recoveries via low cost heap leaching at both the Leprechaun and Marathon Deposits.

To find out more information on the Valentine Lake Gold Camp please visit www.marathon-gold.com

For more information, please contact:
Christopher Haldane
Investor Relations Manager
Tel: 1-416-987-0714
E-mail: chaldane@marathon-gold.com

Phillip Walford
President and Chief Executive Officer
Tel:  1-416-987-0711
E-mail:  pwalford@marathon-gold.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
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Cartier Update

Cartier Resources’ (V.ECR) most recent press release on the “deep results” from its drilling of target 6N1 at the Chimo Mine in Quebec just confirmed what Cartier CEO Philippe Cloutier had anticipated.

“This was exactly what we expected,” said Cloutier who was in Vancouver for Roundup. “When you have a past producer, when you have a robust dataset, it takes out the risk. These results are in line with everything else we’ve been finding.”

The press release reports on the deepest of the holes drilled in 6N1 going as deep as 1,100 meters.  “These were the pilot holes,” explained Cloutier. “We then drilled branch holes upwards from there and we are waiting on assays for those holes.”

These holes were part of what Cloutier calls Phase II of the Cartier drilling program. Phase II is all about looking at targets some distance away from the existing mine shaft.  Cloutier expects Phase II to be completed by the end of March and then a third Phase of drilling will commence.

“People are expecting that our work will lead us to do a 43-101 resource estimate report,” said Cloutier. “And we are working towards that. But we want the maiden resource estimate to reflect the value proposition at Chimo. We’re getting the results we expected. We don’t want to rush the 43-101. We don’t want to blotch the job in the last ten yards.”

Which may mean that Cartier will actually produce an initial Resource Estimate and then build on that with additional estimates that reflect the enhancement from its other targets that are being drilled off in the Phase II and then Phase III programs as assays are received.

Strategically this could make a lot of sense as it will create excellent news flow and ensure that the resource estimates are rock solid. Rushing to a 43-101 can actually hurt a company if it has to characterize too many of its ounces indiscriminately. Careful drilling and a conservative approach to the initial resource estimate will add the value Cloutier believes is at Chimo and respect investor expectations.

In every interview I have done with Cloutier he has always been consistent in his approach to building value at Chimo. The company knows there is gold in the old mine. It knows there is gold very near the old mine and it knows that there is gold in the step out targets it has drilled a few hundred meters from the old mine. “We’re repeating the proof of concept and Chimo just keeps delivering.”

Which is how you build value in a brownfield gold project.

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