Marathon Gold Corp 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.

TSX:MOZ - Post by User

Marathon Gold Corp > Study Supports Mine

<< Previous

Bullboard Posts

Next >>

Post by zack50on Mar 29, 2021 5:38pm

238 Views

Post# 32900874

Study Supports Mine

Marathon Gold Say Study Supports C$305 Million Mine For Valentine Gold Project

29 Mar 202117:15 ET

05:15 PM EDT, 03/29/2021 (MT Newswires) -- Marathon Gold (MOZ.TO) on Monday said a feasibility study for its Valentine gold project in Newfoundland showed the site can support a C$305 million open-pit mine and mill producing 173,000 ounces of gold for 13 years.

The company said the project could repay its initial costs in just under two years. Construction could begin in January, 2022, with first gold in October, 2023. All-in sustaining costs are expected to be US$833 per ounce.

"The receipt of budgeted quotes from vendors on our construction and equipment supply packages, undertaken during January and February of this year, has coincided with very recent inflationary pressure in bulk materials pricing and labour rates. This is reflected in our capital and operating cost estimates. Nonetheless, today's Feasibility Study confirms a compelling mine development opportunity with strong margins, high rate of return and low capital intensity," chief executive Matt Manson said in a release.

<< Previous

Bullboard Posts

Next >>

NervGen Pharma: Proof that NVG-291 works?