News New Zone of Mineralization 9.43 g/tMarathon PGM Extends New Zone of Mineralization at Leprechaun Gold Deposit
9.43 g/t Gold Across 9 m (core length) (0.28 oz/ton across 29.5 feet core length)
TORONTO, Aug. 4/CNW/ - Marathon PGM Corporation (MAR-TSX) ("Marathon") announced thatresults from drilling have added 125 m strike length of goldmineralization up dip from the Leprechaun Gold Deposit, in CentralNewfoundland.
Highlights:
- best drill interval contains 9.43 g/t gold across 9 m (core length)
(0.28 oz/ton gold across 29.5 feet (core length)) in VL-10-193, which
represents an extension to the lens of high grade mineralization on
strike to the northeast
- multiple stacked lenses of shallow gold mineralization in both sub-
horizontal and sub-vertical vein sets
- intersections confirm increasing size of the new zone of
mineralization both along strike and at depth
- Leprechaun Gold Deposit has now been drilled over a strike length of
750 m and is growing
- new resource estimate for Leprechaun Gold Deposit to be completed in
Q4
- barge based drilling is currently underway on Leprechaun Pond to fill
in areas that could not be drilled from surface
- click here for map
https://www.marathonpgm.com/images/valentinemapaugust2010.jpg
"The field crew is doing a great job exploring the 2 km of structure that hosts the Leprechaun Gold Deposit," said David Good,VP of Exploration of Marathon PGM. "The near surface goldmineralization intersected by these drill holes is very promising andthere are strong indications of more of these high grade zones alongstrike in historic widely spaced drilling."
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Best Results Section From To Core Width True Width Gold Gold
(m) (m) (m) (m) (g/t) (oz/t)
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VL-10-188 10,400 27 33 6 4.4 2.43 0.07
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VL-10-189 10,400 61 78 17 14 2.78 0.08
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includes 71 75 4 3.3 9.06 0.27
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VL-10-192 10,475 26 32 6 6 1.75 0.05
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" 41 44 3 3 15.29 0.45
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VL-10-193 10,475 4.3 7 2.7 2 12.44 0.28
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" 42 51 9 7.8 9.43 0.28
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includes 49 51 2 1.73 30.97 0.91
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VL-10-194 10,400 11.8 23 11.2 11 1.52 0.04
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includes 19 23 4 4 2.75 0.08
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VL-10-202 10,425 75 88 13 9 1.84 0.06
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includes 76 80 4 2.75 4.27 0.13
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" 112 114 2 1.3 5.56 0.16
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(1) Hole VL-10-187 and-191 intersected no significant values
All holes were drilled normal to the strike of mineralization,with shallower holes typically having a -45 degree dip and deeper holeshaving a -75 to -85 degree dip. Holes VL-10-188, -189 and -194 onsection 10,400 were drilled to test the down dip extension ofmineralization and confirm continuity. Holes VL-10-192 and -193 onsection 10,475E had visible gold noted during core logging. Down dipcontinuity of mineralization was confirmed by these holes. HoleVL-10-202 on section 10,425 was drilled 30 m down dip from holeVL10-190 which intersected 33.54 g/t (uncut) gold across 4 m (0.98oz/ton (uncut) gold across 13.1 feet).
Marathon is the operator, exploring Valentine Lakeunder an option and joint venture agreement between Marathon andMountain Lake Resources Inc. (TSX.V:MOA). Please see Marathon's OJVApress release of December 23, 2009 by clicking https://www.marathonpgm.com/news/2009/231209.pdf.
All of the samples were sent to Eastern Analytical Laboratory Ltd., inSpringdale, Newfoundland. Samples were assayed using lead collectionfire assay with AA (atomic absorption) finish. Results from fire assayare used for drill hole planning only. Duplicate assays were made onall assays above 30 g/t. Assay results for the planned updated resourceestimate will be determined by a metallic screening process to beconducted at a later date.
David Good, P.Geo., Vice President Exploration is Marathon's Qualified Person in compliance with National Instrument 43-101 with respect to this release. Dr. Good has reviewed the contents for accuracy and has approved this press release on behalf of Marathon.