more good results!Marathon drilling discovers mineralization outside of resource open pit, 8 m of 7.86 g/t PGM and gold and 0.42% copper
TORONTO, June 28 /CNW Telbec/ - Marathon PGM Corporation (MAR:TSX)
("Marathon" or the "Company") is pleased to announce the latest results from the 2007 drilling campaign at the Marathon PGM-Cu project, located 8 km northwest of Marathon, Ontario. Drilling is underway in two locations -- the southern end of the Main Zone and the area north of the Malachite Zone.
Drilling intersected wide widths of mineralization in multiple holes, which are located outside of the existing resource pit. Because of this, thepotential to increase the size of the resource is very good.
David Good, VP of Exploration, stated "The goal of adding tonnes and
ounces to the resource by exploring the Main Zone and W Horizon is proceeding as planned, with very favourable results."
Main Zone Drilling
Results from drilling at the Main Zone continue to be very encouraging, with the best intersection being 1.0 g/t PGM and gold and 0.22% copper over 68 m, including an interval of 2.33 g/t PGM and gold and 0.38% copper over
20 m. All of the intersections in the Main Zone have the potential to extend
the resource to the west and down-dip.Drilling in 2007 to date has revealed that the dip of the mineralization
flattens at depth to approximately 10 degrees. This finding is highly
favourable situation for open pit mining conditions, as it would reduce the stripping ratio when mining operations near the bottom of the pit.
W Horizon (High Grade Zone)
Drilling of the W Horizon remains a focus of the 2007 drilling campaign.
Marathon has confirmed continuity of the W horizon, with higher grade
mineralization occurring in envelopes that are approximately 100 m wide and 100 to 200 m in length and strike approximately north-northeast, parallel to ridges in the footwall. Seven drillholes in the vicinity of high grade mineralization discovered
with hole M-07-306 (see MAR news release of April 19, 2007) returned positive results. The best intersection was 7.86 g/t PGM and gold and 0.42% Cu over 8 m in hole M-07-332 located 50 m east of M-07-306. The W Horizon was traced further to the east for another 100 m and was intersected in holes M-07-334 and M-07-335. In hole M-07-335, mineralization graded 3.27 g/t PGM and gold 0.48% copper over 4 m.
West of hole M-07-306, the W Horizon narrows in hole M-07-325, but
strengthens in hole M-07-327 which graded 1.12 g/t PGM and gold and 0.06%
copper over 12 m. The W Horizon extends 50 m south of hole M-07-306 to hole
M-07-312, which returned values of 2.25 g/t PGM and gold and 0.35% copper over
4 m as reported in Marathon's press release dated May 11, 2007. Hole M-07-329
is located northwest of hole M-07-306 and intersected a syenite dyke over the
entire length of the hole. The W Horizon is still open to the north of
M-07-306, which will be explored through additional planned drilling.
Hole M-07-335 intercepted 80 m of near surface mineralization grading
0.57 g/t PGM and gold and 0.19% Cu and includes 4 m of 3.27 g/t PGM and gold
and 0.48% Cu; and is interpreted to be a combination of W Horizon and Main
Zone mineralization.
These holes demonstrate the importance of Marathon's systematic approach
to drilling. The high grade lenses of the W Horizon will be precisely defined
for the resource/reserve estimation which will occur in the autumn of 2007.
Continued Exploration Focus
Currently, exploration is focused in the south end of the Main Zone and
north of the Malachite Zone. In light of progress and numerous successes to
date, the management team of Marathon is pleased with the progress of the
exploration program. Marathon has planned 35,000 metres of drilling in 2007
and has to date completed 24,000 metres in 148 holes and has assay results
pending from 26 holes.
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Results from Main Zone and W Horizon
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True Total PGM
Hole Zone From To Thickness Pd Pt Au and gold Cu
(m) (m) (m) (g/t) (g/t) (g/t) (g/t) (%)
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M-07-326 MAIN 273 289 16 0.60 0.25 0.07 0.92 0.21
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M-07-326 MAIN 301 337 36 0.25 0.10 0.05 0.40 0.20
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M-07-328 MAIN 276 368 92 0.36 0.13 0.06 0.55 0.22
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includes MAIN 276 282 6 1.19 0.33 0.14 1.66 0.32
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includes MAIN 320 368 48 0.33 0.13 0.06 0.52 0.30
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M-07-330 MAIN 42 60 18 0.64 0.23 0.07 0.94 0.10
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M-07-330 MAIN 295 363 68 0.69 0.22 0.09 1.00 0.22
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includes MAIN 299 319 20 1.73 0.47 0.14 2.34 0.38
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M-07-333 MAIN 46 50 4 1.23 0.25 0.10 1.58 0.17
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M-07-333 MAIN 286 370 84 0.41 0.14 0.07 0.62 0.23
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M-07-335 MAIN 74 154 80 0.39 0.13 0.05 0.57 0.19
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M-07-336 MAIN 171 177 6 0.86 0.54 0.11 1.51 0.09
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M-07-336 MAIN 223 227 4 0.46 0.20 0.06 0.72 0.21
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M-07-336 MAIN 249 291 42 0.41 0.16 0.07 0.64 0.23
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M-07-336 MAIN 259 269 10 0.13 0.27 0.74 1.14 0.39
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M-07-325 W 208 214 6 0.46 0.13 0.05 0.64 0.41
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M-07-327 W 170 182 12 0.75 0.31 0.06 1.12 0.06
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M-07-331 W 105 107 2 0.23 0.38 0.98 1.59 0.03
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M-07-332 W 115 121 6 0.13 0.53 0.95 1.61 0.01
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M-07-332 W 147 155 8 5.62 1.77 0.47 7.86 0.42
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includes W 74 78 4 2.50 0.58 0.19 3.27 0.48
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Notes - "MAIN" denotes Main Zone and "W" denotes W horizon
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