Overview of next 2-year exploration priorities...Here's what we have to date:
The VG project was approved for construction in September 2022 and early works commenced in October/22. An Updated Feasibility Study was completed in December /22, describing for the first time a 3-pit mine plan based on the Marathon, Leprechaun and Berry Deposits, with increased Mineral Reserves, an extended mine life, and a higher gold production profile. First ore is scheduled to be delivered to the mill in late 2024, with production ramp-up scheduled for the first quarter of 2025.
As mine construction moves forward, Marathon intends to maintain a focus on exploration based on the following two priorities:
* delivering more ounces of mineable gold mineralization within the scope of the existing 3-pit mine plan
* making new discoveries leading to new Mineral Resources on the Valentine property outside the scope of the current mine plan
Exploration activities contemplated during the two-year period of 2023-2024 are as follows:
* A 70,000 metre Reverse Circulation (RC) drill program at the Leprechaun, Marathon and Berry Deposits, with the objective of developing a grade control model to support early mine production reconciliation and forecasting and building on the positive experiences of the 2021 RC drill program
* Discovery-oriented exploration at the new Eastern Arm and Western Peninsula prospecting areas, with a view to establishing potential trenching and or drill targets for new mineralized deposits
* Updated geological and mineralization models for the Berry Deposit integrating 2022 drill results, including drill results still outstanding, with a focus on new mineralization potential within the current mining pit shell
* Updated geological and mineralization models for the Victory Deposit integrating 2021-2022 drill results, including drill results still outstanding, with the objective of expanding the mineral resource potential of Victory beyond its current estimate
* Reassessment of known mineralized showings at the Valentine Property, such as the Frank Zone, with additional diamond drilling as warranted
* Exploration results incorporated into annualized Mineral Resource updates
Folks, I think we have lots to look forward to in the next 2-year period.