Marathon Gold Corp MGDPF

Primary Symbol: T.MOZ

Metals & Mining Gold

Marathon Gold Corporation is a Canada-based gold exploration and development company. The Company’s primary business focus is the exploration and development of its flagship asset, the wholly owned Valentine Gold Project, located in Newfoundland and Labrador, Canada. The project comprises a series of five mineralized deposits along a 32- kilometer system. Its prospects are located along the Valentine Lake Shear Zone and include Frank Zone, Rainbow Zone, Triangle Zone, Victoria Bridge, Narrows, Victory Southwest, Victory Northeast, and the Berry Zone. In addition to the Valentine Gold Project in the Central Region of Newfoundland and Labrador, the Company holds 100% interests in the Bonanza Mine, a former mine located in Baker County in northeastern Oregon, the Gold Reef property, an exploration property consisting of approximately 12 hectares of claims located near Stewart, British Columbia; and a 2% net smelter returns royalty on precious metal sales by the Golden Chest mine in Idaho.

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Marathon Gold Corp

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Post by MudCreekeron Jan 19, 2011 9:50am

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Post# 17995085

Visible Gold

Any mention of visible gold in a press release is often followed by a pop in share price. Could be a good day.

Marathon Gold Announces 2011 Drilling Program to Commence at Valentine Lake Property

Marathon Gold Announces 2011 Drilling Program to Commence at Valentine Lake Property

Canada NewsWire

TORONTO, Jan. 19

TORONTO, Jan. 19 /CNW/ - Marathon Gold Corporation (MOZ-TSX) ("Marathon") announced today the Company has commenced its 2011 drillingcampaign at the Valentine Lake Property. The first drill rig begandrilling at the Leprechaun Gold deposit on January 12, 2011 with thefirst three drill holes intersecting multiple quartz veins with visiblegold mineralization. The second drill rig is scheduled to beginresource and exploration drilling at the Valentine East Gold deposit inthis week.

The Leprechaun and Valentine East Gold deposits are located 13km alongstrike from each other. These gold deposits form part of a 23km long,highly prospective gold-bearing mineralized corridor that straddles thefaulted contact between older Valentine Lake Intrusive and youngerRogerson Lake sedimentary rocks in the Valentine Lake Property.

The 25,000m drilling program at the Valentine Lake Property will focuson aggressive resource expansion for the Leprechaun Gold Deposit;delineation of a NI 43-101 compliant Measured and Indicated Resourcefor the Valentine East Gold Deposit; and exploration drilling tofurther evaluate the Property's potential. Marathon Gold and MountainLake have agreed to a budget of $6 M to be jointly shared for 2011.

Drill Highlights to Date:

First three drill holes VL-11-232 and VL-11-233 at the Leprechaun Gold Deposit intersected mineralized quartz zones with visible gold
Planned 2011 drilling at the Leprechaun Gold Deposit is aimed at expanding the December, 2010 NI compliant 43-101 resource and extending the current boundaries of the deposit both down-dip and along strike to the NE and SW
Drilling at Valentine East deposit to begin within days, focused on delineation drilling of a new resource
Newly delineated IP drill targets will be tested for 1000m along strike to the NE of the Leprechaun Gold Deposit, within the Rogerson Lake conglomerates 500m east of the Leprechaun Gold Deposit and over a 500m strike of the Valentine East Gold deposit
Base line environmental studies to begin in February, 2011 will include water quality, waterfowl and fish surveys
Plans for 2011 include further metallurgical testing, additional IP surveying along strike of both the Leprechaun and Valentine East Gold deposits, geotechnical drilling to test slope stabilities for pit wall design at the Leprechaun Gold deposit for inclusion in the preliminary economic assessment currently planned for completion by the 1^st quarter of 2012

"With a strong exploration team in place, two drills turning, andinitial drill holes showing visible gold, with the deposit(s) wide openalong strike and down dip we are well positioned for growth," saidSherry Dunsworth, V.P. Exploration of Marathon Gold Corporation. "Weare looking forward to exceeding the success of the 2010 drillingcampaign."

Qualified Person
Sherry Dunsworth, M.Sc., P. Geo., VP of Exploration, is Marathon'sQualified Person in compliance with National Instrument 43-101 withrespect to this release. Mrs. Dunsworth has reviewed the contents foraccuracy and has approved this press release on behalf of Marathon.

About Marathon Gold Corporation
Marathon Gold Corporation is one of Canada's newest gold resourcedevelopment companies, with projects located in the mining friendlyprovince of Newfoundland, Labrador and North Idaho in the USA. MarathonGold has a tiered project pipeline consisting of early stageexploration to advanced resource development projects which can bebuilt into mineable reserves. Marathon Gold is continually evaluatingnew gold resource development projects of merit that are located withinthe Americas. Marathon Gold's focused and low-cost approach to resourcedevelopment and exploration has an established record of deliveringrapid growth. Marathon Gold is the operator of the Valentine LakeProject under the sub-option and joint venture agreement ("OJVA")between Mountain Lake Resources Inc. and Marathon Gold owns a 50%interest in Golden Chest LLC, owner of the Golden Chest mine in NorthIdaho.

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