Assays Out! Marathon Gold Reports Latest Berry Drill Results
TORONTO, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to report the latest drill assay results from the Valentine Gold Project in central Newfoundland (the ‘Project”; Figure 1). These latest results represent fire assay data from fifteen diamond drill holes completed as part of the ongoing in-fill drill campaign at the 1.5 kilometre long Berry Deposit. Highlights include:
- VL-21-1035 intersected 22.97 g/t Au over 6 metres including 133.13 g/t Au over 1 metre, and 1.73 g/t Au over 39 metres including 39.51 g/t Au over 1 metre, and 1.51 g/t Au over 31 metres, and 2.00 g/t Au over 15 metres;
- VL-21-1038 intersected 25.38 g/t Au over 4 metres including 98.08 over 1 metres;
- VL-21-1030 intersected 2.50 g/t Au over 27 metres including 13.90 g/t Au over 1 metre;
- VL-21-1027 intersected 3.04 g/t Au over 22 metres including 11.49 g/t Au over 2 metres;
- VL-21-1036 intersected 1.54 g/t Au over 33 metres including 11.08 g/t Au over 1 metre;
- VL-21-1033 intersected 2.44 g/t Au over 19 metres including 19.91 g/t Au over 1 metre;
- VL-21-1032 intersected 6.07 g/t Au over 8 metres including 24.38 g/t Au over 1 metre; and
- VL-21-1029 intersected 1.80 g/t Au over 24 metres including 17.03 g/t Au over 1 metre.
All quoted intersections comprise uncut gold assays in core lengths. All significant assay intervals are reported in Table 1.
Matt Manson, President and CEO, commented: “These latest drill results represent the continued filling-out of our drill coverage at Berry over its full 1.5 kilometre extent, and at greater depths. Our exploration thesis at Berry has been to delineate the strong “Main Zone” type mineralization close to the Valentine Lake Shear Zone, to test the continuity of this Main Zone between the western and eastern portions of Berry, and to test for more fully developed concentrations of mineralization within the hanging wall rocks. The fifteen holes released today are all targeting one or other of these goals. Of note, we are now seeing a very strong area of hanging wall mineralization in the western portion of Berry, well outside the current conceptual pit shell boundary. This is illustrated by the multiple long intercepts of resource grade gold mineralization in hole VL-21-1035 on section 13670E (Figures 3 and 4). This is highly encouraging. We currently have two diamond drill rigs operating at Berry as part of our 2021 exploration program, one rig operating at the Victory Deposit, one rig undertaking geotechnical studies at the Leprechaun Deposit, and an additional reverse circulation rig operating on our grade control and resource reconciliation program. We expect to be reporting results from our exploration drill programs on a regular basis through to the end of the year.”
Figure 1: Location Map, Valentine Gold Project
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The results released today are derived from five drillholes located on sections 13650E and 13670E at the western end of the Berry Deposit, and ten drillholes located between sections 14230E and 14460E, close to, or within, the connecting area between the two conceptual pit shells utilized in the April 2021 Berry Mineral Resource Estimate (Figure 2).
Gold mineralization at the Valentine Gold Project is contained predominantly within shallowly southwest dipping, en-echelon stacked Quartz-Tourmaline-Pyrite-Gold (“QTP-Au”) veins. At the Leprechaun, Marathon and Berry Deposits, these QTP-Au veins form densely stacked and northwest plunging “Main Zone” envelopes within intrusive host rocks on the hanging wall (northwest) side of the Valentine Lake Shear Zone (“VLSZ”). The extent of mineralization appears related to the size and frequency of sheared mafic dykes which extend northeast-southwest within the hanging wall, parallel to the shear zone.
Five of the fifteen holes were oriented on a southeast azimuth towards the footwall contact with the VLSZ to test for mineralization at progressive distances into the Berry Deposit’s hanging-wall rocks (VL-21-1024, 1027, 1028, 1031, 1032). Ten of the fifteen holes were oriented steeply down to the northwest testing for Main Zone type stacked QTP-Au mineralization, either close to the VLSZ (VL-21-1026, 1034, 1036) or within the hanging wall (VL-21-1025, 1029, 1030, 1033, 1035, 1037, 1038).
All fifteen drill holes returned “significant” drill intercepts of greater than 0.7 g/t Au (Table 1), and all fifteen returned additional intercepts with gold grades above the 0.3 g/t Au cut-off used in the April 2021 Berry Mineral Resource Estimate.
Figure 2: Location of Berry Deposit Exploration Drill Hole Collars VL-21-1024 to VL-21-1038
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Table 1: Significant Assay Intervals from Drill Hole Collars VL-21-1004 to VL-21-1023, Berry Deposit, Valentine Gold Project