more great news!Marathon announces 20 m of 23.4 g/t PGM and gold and 0.28% copper 700 m north of Malachite high grade mineralization
Thursday April 19, 8:00 am ET
TORONTO, April 19 /CNW Telbec/ - Marathon PGM Corporation (MAR :TSX) ("Marathon" or the "Company") is pleased to announce the results from 12 drill holes (5 in the Malachite Area (Please click here to view Drill Plan and Geology Malachite Zone: https://files.newswire.ca/357/Marathon_geology.doc),, 3 in the Main Zone, 2 in the Southern Resource Area and 2 in the area between the Southern Resource and Malachite Areas). Drill hole M-07-300 was drilled in the main zone for metallurgical testing as part of a definitive feasibility study that is currently underway (Please click here to view Drill Plan: https://files.newswire.ca/357/Marathon_dril_plan.doc)..
Mr. Walford, President and Chief Executive Officer, noted, "This fourth drill discovery of high-grade mineralization is a remarkable development. This establishes positively that there are shoots of high-grade of mineralization over a surface strike length of 1,000 meters and this has certainly validated both the drilling and exploration models developed by Dr. David Good, Sherry Dunsworth and the exploration team."
Marathon recently reconfigured the interpretation of the BR, W, RD and Southern Resource mineralized zones as recent drilling has shown that they apparently form a nearly continuous package of mineralization. Marathon will refer to the mineralization as belonging to either W (high grade or PGM enriched) or FW (Main zone type) zones. The old RD, BR and Malachite zones are now referred to as the Malachite Area and the Southern Resource zone is referred to as the Southern Resource Area. Thus Marathon will have the W zone in the Southern Resource, which is interpreted to be the same stratigraphic horizon as the W zone found in the Malachite area.
Hole M-07-306 contains 20 m of 23.4 g/t PGM and gold and 0.28% copper including 8 m of 55.4 g/t PGM and gold and 0.59% copper. The assays of this intersection far exceed the exceptional values obtained in holes M-07-237 and M-07-239 as previously reported in the Company's press release dated February 16, 2007, and now stands as the richest intersection for its length ever recorded in the Coldwell complex. Hole M-07-306 is located in the Southern Resource Area approximately 700 m north of the Malachite Area. The hole was drilled to test an IP geophysical anomaly located between 150 m and 200 m depth that was identified by the Insight Array technique.
Much of the terrain between the Southern Resource and the Malachite areas is open for exploration and Marathon believes there is a high probability of finding additional high grade material. The outstanding results found in drill holes M-07-306, M-07-307, M-07-309 and M-07-310 support this concept. Drill holes M-07-307 and M-07-310 contain greater than 2.6 g/t PGM and gold over 14 and 6 meters, respectively. Drill hole M-07-309 successfully tested the down dip extension of the FW zone in the Southern Resource area. Because of this early success, Marathon intends to focus on this area in May after the spring thaw when access has improved.
Holes M-07-301 and M-07-303 are infill holes within the Main Zone. They both intersected mineralization that is approximately 40-75% thicker than was predicted by the modeling that was used to calculate the mineral resource. Marathon will continue the infill and exploration drilling program in the Main zone when the drill returns from the WD zone in May. The Company's goal is to extend the Main zone south and west and perhaps merge with the Southern Resource Area.
Holes M-07-299, M-07-302 and M-07-304 were infill holes at the south end of the Malachite Area. Hole M-07-304 intersected the W zone and intersected 20.2 g/t PGM and gold and 0.14% copper over 10 m, which is similar to other intersections in the W zone. At the south end of the Malachite Area, the W and FW zones merge so that intersections are thicker but PGM grades are lower as shown by the 22 m intersection from 114 to 136m in hole M-07-302 and the 54 m thick intersection in hole M-07-299. A higher grade intersection in hole M-07-302 occurs from 78 to 100 m and contains 3.53 g/t PGM and gold.
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Total
PGM
and
True gold
From To Width Width Pd Pt Au Rh +Au Cu
Hole Zone (m) (m) (m) (m) (g/t) (g/t) (g/t) (g/t) (g/t) (%)
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M-07-299 W-FW 142 196 54 50 0.41 0.21 0.08 tr 0.70 0.13
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M-07-300 Main entire hole used for metallurgical testing
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M-07-301 Main 112 200 88 88 0.76 0.24 0.09 tr 1.09 0.38
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M-07-302 W 78 100 22 22 2.58 0.80 0.15 tr 3.53 0.10
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includes 90 94 4 4 10.44 2.58 0.45 tr 13.47 0.12
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M-07-302 W-FW 114 136 22 22 0.52 0.26 0.13 tr 0.91 0.13
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M-07-303 Main 66 146 80 80 0.79 0.25 0.07 tr 1.11 0.29
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M-07-304 W 6 34 28 28 6.24 1.86 0.38 0.01 8.49 0.14
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includes 6 16 10 10 15.02 4.35 0.84 0.03 20.24 0.22
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M-07-305 W 64 86 22 21 0.26 0.13 0.06 tr 0.45 0.10
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M-07-306 W 150 170 20 20 17.55 4.94 0.92 0.03 23.44 0.28
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includes 150 158 8 8 41.55 11.80 2.00 0.06 55.41 0.59
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M-07-306 200 206 6 6 0.88 0.27 0.09 tr 1.24 0.36
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M-07-307 W 53 67 14 12 1.80 0.81 0.11 tr 2.72 0.04
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includes 53 59 6 5.1 3.38 1.62 0.24 tr 5.24 0.08
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M-07-307 W 85 99 14 12 0.43 0.24 0.07 tr 0.74 0.06
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M-07-308 W no significant values
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M-07-309 FW 126 180 54 52 0.34 0.13 0.04 tr 0.51 0.18
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M-07-310 W 54 60 6 6 2.03 0.60 0.02 tr 2.65 0.01
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As a part of Marathon's QC program, the high-grade samples were analyzed multiple times in order to confirm the high grades. All of the samples were sent to Accurassay, an accredited laboratory in Thunder Bay, Ont., to be assayed using fire assay and other standard techniques.