Oct 27 2015
Marathon Gold Corporation today announced positive results from continued prospecting and trenching work in the Victory Deposit area, Marathon Deposit, Valentine Gold Camp.
Location of new trenching and grabs samples with quartz-tourmaline-pyrite (QTP) - gold veining along the more than 3 kilometer long gold corridor extending through Victory SW, Victory Gold deposit and Victory NE, Valentine Gold Camp.
New trenching along the southwest end of the current Victory Deposit resource pit outline has exposed additional quartz-tourmaline-pyrite-gold veining that returned 3.34 g/t Au over 5 meters, 1.83 g/t Au over 7 meters, and 1.13 g/t Au over 4 meters (Figure 1). Further prospecting has found QTP-bearing outcrop returning up to 9.49 g/t Au with numerous sample assays still outstanding along a 3km long gold-bearing corridor through the Victory deposit area (Figure 1). Areas of overburden between Victory SW, Victory Deposit and Victory NE contain numerous large angular boulders with abundant QTP veining and present future drill targets as Marathon continues with exploration plans to expand the gold resources in the Victory Deposit area.
Highlights:
- Best intercepts from trench 6900 located at the SW end of the current Victory Deposit open pit resource shell returned 3.34 g/t Au over 5 meters, 1.83 g/t Au over 7 meters, and 1.13 g/t Au over 4 meters. These intercepts have not been drilled. Ongoing trenching in this area SW of the Victory Deposit has intersected additional QTP veining with outcrop grab and channel sample assays pending.
- Prospecting in an area up to 400m west and southwest from the Victory NE Area has discovered good QTP veining in outcrop returning up to 9.49 g/t Au. Angular subcrop, within a large area of QTP-bearing angular boulders, returned 1.62 g/t Au. The new trenching just completed in this area has intersected QTP veining. Trench grabs and channel sample results are pending.
- The fall exploration season continues at the Valentine Gold Camp. Ground magnetic and VLF surveys continue over the nearly 120 line kilometers of new grid cut along the 12km strike length between the Sprite, Marathon and Victory Deposit areas. Prospecting, trenching and channel sampling in target zones as well as regional and detailed geological mapping is ongoing between the Marathon and Victory Deposit areas. Results of the magnetic and VLF surveys will be used to define the location of the Valentine Lake Thrust Fault and delineate new winter drilling targets along bog and overburden covered areas that lie directly along strike of the Sprite, Marathon and Victory Deposits.
"We are excited by the positive results from our ongoing fall exploration work. We continue to find new outcrop and angular float with abundant QTP veining and anomalous gold. These new gold showings and results of the magnetic and VLF surveys will contribute to the development of our anticipated winter drilling program as we continue to increase gold resources at the Valentine Lake Gold Camp." said Phillip Walford, President and CEO of Marathon. "Our focus continues to be developing a critical mass of open pit resources and this fall's program has put us in a good position to do so."
All of the samples were fire assayed at Eastern Analytical Laboratory Ltd., in Springdale, Newfoundland.
Marathon Gold Corporation acknowledges the financial support of the JEA Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Sherry Dunsworth, M.Sc., P. Geo., VP of Exploration, Marathon's Qualified Person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon.