and even better resultsis there an echo in here?
Marathon developing additional PGM and copper resources in the Magnetite Zone, 2.06 g/t PGM and gold and 0.17% copper over 11.04 m
TORONTO, ON, July 18 /CNW Telbec/ - Marathon PGM Corporation (MAR -- TSX)
("Marathon" or the "Company") is pleased to announce the most recent resultsfrom the 2007 exploration campaign at the Company's 100% owned Marathon PGM-Cu Project, located 10 km northwest of Marathon, Ontario. Current exploration
activity is focused on a large magnetic anomaly centered approximately
500 meters west of the Main Zone, which is known as the Magnetite Zone. Rocksamples and channel sampling has uncovered mineralization confirming the presence of mineralization over a strike length of 1,800 meters. This magnetic
anomaly corresponds with the approximate trace of the Eastern Gabbro and the internal magnetite horizons.
This mineralization has been known since 2001 and has always been an
exploration target but now, Marathon is focused on developing additional resources here. The zones have a very gentle dip to the west and outcrop on surface. The mineralized zones within the Magnetite Zone are outside the projected pit limits of the existing resource and are not included in the existing resources. The potential in the Magnetite Zone is to develop a large,
low-strip ratio target that has potential to reduce the overall strip ratio of the Main Zone pit. Early work from exploration of the magnetite-bearing horizon located west
of the Main Zone has confirmed the presence of mineralization over a
north-south strike length of approximately 1,300 meters. The best channel sample assay values to date are 2.06 g/t PGM and gold and 0.17% copper over 11.04 meters.
Mineralization in the magnetite horizon is being explored along 1.3 km of strike length by a series of ten parallel trenches. The magnetite horizon
corresponds to the approximate trace of the magnetic anomaly as shown in the accompanying map. Assay values for channel samples across two of the ten trenches are reported here. Assays results for the remaining trenches are pending. Grab samples from outside of the trenches are also included to show the extent of mineralization. In consideration of these initial results,
Marathon will be determining a drill budget for the Magnetite Zone.
David Good, VP of Exploration, stated "Although the magnetite horizons
have long been known to host copper and PGM mineralization, very little wasknown about the continuity or grades. What this work shows is very encouraging, particularly since it is near surface and could reduce the strip ratio during open pit mining of the Main Zone."