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Marathon Gold Corp MGDPF


Primary Symbol: T.MOZ

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.


TSX:MOZ - Post by User

Post by BGraham2on Dec 21, 2020 8:28am
135 Views
Post# 32151221

Whoa! off topic - NFLD exploration news

Whoa! off topic - NFLD exploration news

 

Spruce Ridge drills 27.2 m of 8.02% Cu at Great Burnt

 

2020-12-21 08:14 ET - News Release

 

Mr. John Ryan reports

SPRUCE RIDGE INTERSECTS 27.2 METRES OF 8.02% COPPER AT GREAT BURNT

Spruce Ridge Resources Ltd. has completed a 22-hole, 3,100-metre program of infill diamond drilling on its wholly owned Great Burnt copper deposit in central Newfoundland. Core from drill hole GB20-05 was selected for assaying on a priority basis because it included sections of unusually high grade copper mineralization. The hole intersected 27.2 metres averaging 8.02% Cu, including 7.75 metres of 16.88% Cu, which in turn included 2.0 metres of 21.25% Cu.

Core from drill hole GB20-20 was also selected for assaying on a priority basis because it includes sections of high grade copper mineralization over 20.65 metres.

CEO John Ryan stated "this remarkable drill hole confirms how variable are the grade and thickness of the Great Burnt Main Zone. It also reaffirms our suspicion that the 1960s-vintage historical drill holes on the deposit may have understated the grade because they were drilled with standard drilling and EX core, and drill logs indicate poor core recovery in the mineralized zone. When all the assays are in from the 2020 program, we plan to revise the Mineral Resource estimate for the Great Burnt Main Zone, and prepare a Preliminary Economic Analysis (PEA) so we can move towards pre-production development".

The following table gives the intervals for the copper grade averages, plus the zinc and gold values associated with the copper intersections. True widths are estimated to be about 60 percent of the core lengths:

 

 AVERAGE ASSAYS, DRILL HOLE GB20-05 From (m)To (m)Core LengthCu (%) Zn (%) Au (g/t) 161.9 189.1 27.2 m 8.02% Cu 0.32% Zn0.07 g/t Au 171.85 179.607.75 m 16.88% Cu0.74% Zn0.12 g/t Au 174.85 176.852.00 m 21.25% Cu0.91% Zn0.19 g/t Au 

 

Assays were performed at Eastern Analytical Ltd. in Springdale, NL. Eastern Analytical is a Canadian-owned assay laboratory with ISO 17025 accreditation.

Technical information in this news release was prepared and/or reviewed by Colin Bowdidge, Ph.D., a director of the Company and a Qualified Person as the term is defined in National Instrument 43-101.

Acknowledgments

Spruce Ridge acknowledges the financial support of the junior exploration assistance program, department of natural resources and government of Newfoundland and Labrador.

About Spruce Ridge Resources Ltd.

Spruce Ridge holds a 100% interest in the Great Burnt Copper-Gold Property in Central Newfoundland which covers a series of copper plus or minus gold rich VMS deposits. Spruce Ridge sold its interest in in the Crawford Nickel-Cobalt Sulphide project to Canada Nickel Company Inc. but retained ground which contains VMS and gold targets. Spruce Ridge holds 8,100,000 shares of Canada Nickel Company and 10,000,000 shares of Noble Mineral Exploration Inc. Spruce Ridge has an option agreement with Magna Terra Minerals Inc. on its Viking/Kramer gold properties in Western Newfoundland.

We seek Safe Harbor.

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