TD update I guess TD only sees potential and won't get too excited or give people false hopes until they see permits and the updated Berry-Sprite numbers.
Assuming and I do expect these drill results keep coming in Golden then 2022 should be a stellar year for Marthon and Co. and a longer mine life in the works.
Merry Xmas Ho Ho Ho ;) Show me the Ounces!
Flash Note Equity Research December 22, 2021
Gold and Precious Minerals - Mid-and Small-Cap Golds Marathon Gold Corp. (MOZ-T) C$3.18 Final Berry Infill Results for 2021 Arun Lamba, CFA Jamie Carmichael, (Associate)
Event This morning, Marathon reported 15 additional infill drill results from the Berry deposit at its Valentine Gold project (100%) in Newfoundland.
Impact: NEUTRAL Highlights — VL-21-1083: 7.77 g/t Au over 8m including 28.68 g/t Au over 1m; and VL-21-1088: 83.07 g/t Au over 1m and 22.13 g/t over 1m and 2.27 g/t over 10m.
The company is awaiting results from 80 additional drill holes from the 2021 drill program at Berry, as well as 44 holes from the Sprite and Victory deposits. Results will be released as received.
As reminder, in April, the company released its maiden resource for Berry. Total open pit Inferred Resources were 566 koz at 1.65 g/t, representing 89% of the total estimate (639 koz at 1.75 g/t o/p and u/g). The Resource was based on 42 km of drilling (to end of November 2020). The next Berry resource estimate will be based on over 100 km of drilling (completed to the end of November 2021) and is expected in Q2/22.
The company plans to release its 2022 exploration guidance at Valentine in January.
As a reminder, the Berry Resource is not part of the March 2021 Feasibility Study, but could provide another potential source of ore feed and extend the mine life.
Marathon last reported ~$105mm in cash (as at September 30) and no debt.
Anticipated Timeline
Exploration Results – Ongoing
Release from EA process (main permitting milestone) — Mid-year 2022
Updated Resource – Mid-year 2022 First Gold – Q1/25 (TD estimate)