MAR's Operational Highlights Posted TodayOr....why you want to own Marathon. Wow....released on a Friday afternoon well after market's close too. Can't say I've seen that but there's nothing bad in here. On the contrary, it all looks good to me....
Marathon area properties
- Continuing to make progress on permitting activities at the Marathon
PGM-Cu project, with submission of the environmental assessment
expected in the third quarter of 2010.
- Completing a winter drilling program at Geordie Lake and
incorporating the results of this work in a new mineral resource
estimate on the property, which resulted in total combined measured
and indicated resources for the Marathon PGM-Cu and Geordie Lake
properties of 147 million tonnes grading 1.0 g/t PGM's and gold and
0.27% copper, representing an in-situ resource of 4.9 million ounces
of PGM's and gold and 882 million pounds of copper.
Valentine Lake property, central Newfoundland
- Completing the first phase of an initial drilling program of
33 holes over 4,000 meters at the Leprechaun Gold Deposit, part of
the Valentine Lake property optioned in December 2009 from Mountain
Lake Resources and host to an existing inferred mineral resource of
443,000 ounces of gold. The results of this work exceeded
expectations and returned numerous occurrences of visible gold and
several wide, high grade intercepts, including 38.3 g/t over
9 meters.
- On May 13, 2010, we announced our plans for the next phase of work
at Valentine Lake, including:
- a drilling program starting in May 2010 and focused on the
Leprechaun Gold Deposit, and
- a detailed IP survey, followed by trenching and drilling, to be
performed along the 2 km long structure hosting the Leprechaun
Gold Deposit and the Sprite prospect, as well as the Valentine
East prospect located 13 km along strike to the northeast.