Assays Out!
ORIGINAL: Marathon Gold Reports Latest Berry Drill Results and Announces 2022 Exploration Program
2022-02-02 07:30 ET - News Release
Results include 7.47 g/t Au over 12m, 3.80 g/t Au over 23m, 1.92 g/t Au over 31m
50,000m of Drilling Planned in 2022
TORONTO, Feb. 02, 2022 (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), and to announce the Company’s 2022 exploration plans.
The latest drill results represent fire assay data from seventeen diamond drill holes completed as part of the 2021 in-fill drill campaign at the 1.5 kilometre long Berry Deposit. Highlights include:
- VL-21-1099 intersected 7.47 g/t Au over 12 metres including 53.97 g/t Au over 1 metre and including 11.71 g/t Au over 1 metre, and 40.08 g/t Au over 1 metre, and 15.61 g/t Au over 1 metre;
- VL-21-1106 intersected 3.80 g/t over 23 metres including 33.55 g/t Au over 2 metres, and 1.92 g/t Au over 31 metres, and 0.94 g/t Au over 14 metres;
- VL-21-1101 intersected 36.15 g/t Au over 1 metre, and 7.84 g/t Au over 2 metres including 13.93 g/t Au over 1 metre, and 1.01 g/t Au over 10 metres; and
- VL-21-1102 intersected 1.33 g/t Au over 22 metres, and 16.32 g/t Au over 1 metre.
All quoted intersections comprise uncut gold assays in core lengths. All significant assay intervals are reported in Table 2.
Following a successful 2021 exploration program, the Board of Directors of Marathon has approved a 2022 program of 50,000 metres of diamond drilling, focussed on the Berry and Victory Deposits. The 2022 program will also include a significant prospecting program along the approximately 13 kilometres of geological contact at the Valentine Lake Shear Zone between the Victory Deposit and the eastern boundary of the property. Marathon considers this area to be highly prospective for gold mineralisation, and to have been largely unexplored until now. The programs of drilling and prospecting will be supported by additional structural geological and geophysical surveys, which have been proving essential in understanding the setting of the five currently known Valentine Gold Project mineral deposits.
Matt Manson, President and CEO, commented: “During 2021, we completed 74,000 metres of drilling at the Valentine Gold Project, including 58,200 metres at the Berry Deposit. In total, the inventory of drilling at Berry now stands at approximately 100,000 metres. Assays from sixty-two 2021 Berry drill holes, representing 16,700 metres, remain outstanding. Once received, we will commence the next Berry Mineral Resource estimate. As a reminder, the initial Berry estimate was published in April 2021, and comprised 0.64 Moz classified as Inferred Mineral Resources in 11.33 Mtonnes at 1.75 g/t Au. This was based on 42,000 metres of Berry drilling completed as of November 2020. Given the consistently good results received during the course of 2021, we are optimistic about the potential of Berry to add a meaningful quantity of future mineral resources to the Valentine Gold Project mine plan.”
Mr. Manson continued: “In addition to the remaining Berry results, fire assays remain outstanding from our 2021 drilling at the Victory and Sprite Deposits, and from the Marathon waste rock facility area (Table 1). The processing of screen metallic assays from our 2021 Reverse Circulation drill program at the Leprechaun and Marathon Deposits is also ongoing. Results from these programs will be reported as they are received. Our 2022 exploration program has already commenced with three rigs currently operational.”
Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. Please see the National Instrument 43-101 Technical Report dated April 23, 2021 for a summary of the Mineral Reserves and Mineral Resources at the Valentine Gold Project.
Table 1: 2021 and 2022 Diamond Drilling Exploration Programs
| | 2021 Drilling
Completed
(m) | Total Drilling
Completed
(m) | Fire Assays
Outstanding
(m) | 2022 Drilling
Budgeted
(m) |
| Berry Deposit | 58,200 | 100,000 | 16,700 | 38-40,000 |
| Victory Deposit | 8,300 | 19,000 | 8,300 | 10-12,000 |
| Sprite Deposit | 3,700 | 20,100 | 3,700 | -- |
| Marathon Waste Rock Facility | 3,700 | 6,700 | 3,700 | -- |
Figure 1: Location Map, Valentine Gold Project
https://www.globenewswire.com/NewsRoom/AttachmentNg/55c3234f-bdfe-45b9-929b-c6b0833cb185
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 (Figure 1). 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.
The results released today are derived from seventeen drill holes located between sections 13650E and 14270E and within the western conceptual pit shell utilized in the April 2021 Berry Mineral Resource estimate (Figure 2). All but one of the seventeen drill holes (VL-21-1094) were oriented steeply down to the northwest testing for Main Zone-type stacked QTP-Au mineralization in “Set 1” vein orientations progressively further out into Berry’s hanging wall rocks.
The 2021 infill drill program at the Berry Deposit has been conducted with the objective of achieving an approximate 25 metre drill spacing over Berry’s Main Zone of dense mineralisation, and extending drill coverage into the Berry hanging-wall to the northwest and down to a vertical depth of 300 metres. Figures 3 and 4 illustrate the extent to which this has been achieved, in long section and oblique views, after approximately 83,000 metres of assay results.
Figure 2: Location of Berry Deposit Exploration Drill Hole Collars VL-21-1089 to VL-21-1108
https://www.globenewswire.com/NewsRoom/AttachmentNg/987aab8e-143e-4157-848e-fd36261da422
Figure 3: Long Section of the Berry Deposit (View NW) Incorporating all Drilling up to and Including VL-21-1088, Representing 83,249 metres, and Assays Above 0.3 g/t Au.
https://www.globenewswire.com/NewsRoom/AttachmentNg/05fafa09-6103-4e3e-b4b6-eddf12e1a735
Figure 4: Oblique View of the Berry Deposit (View NE) Incorporating all Drilling up to and Including VL-21-1088, Representing 83,249 metres, and Assays Above 0.3 g/t Au.
https://www.globenewswire.com/NewsRoom/AttachmentNg/067d51ff-cf64-4a9c-9db9-291d49d12933
All of the seventeen drill holes returned “significant” drill intercepts of greater than 0.7 g/t Au (Table 2), and all returned additional intercepts with gold grades above the 0.3 g/t Au cut-off used in the April 2021 Berry Mineral Resource estimate.
Table 1: Significant Assay Intervals from Drill Hole Collars VL-21-1089 to VL-21-1108, Berry Deposit, Valentine Gold Project
| DDH | Section | Az | Dip | From | To | Core
Length
(m) | True
Thickness
(m) | Gold g/t | Gold g/t
(cut) |
| VL-21-1089 | 14000E | 345 | -75 | 16 | 18 | 2 | 1.80 | 2.22 | |
| | | | | 21 | 23 | 2 | 1.80 | 1.31 | |
| | | | | 26 | 27 | 1 | 0.90 | 1.23 | |
| | | | | 33 | 34 | 1 | 0.90 | 0.98 | |
| | | | | 38 | 41 | 3 | 2.70 | 4.97 | |
| | | | | 57 | 58 | 1 | 0.90 | 0.76 | |
| | | | | 77 | 78 | 1 | 0.90 | 1.52 | |
| | | | | 107 | 108 | 1 | 0.90 | 1.00 | |
| | | | | 183 | 185 | 2 | 1.80 | 1.01 | |
| | | | | 191 | 198 | 7 | 6.30 | 2.75 | |
| | | | | 208 | 210 | 2 | 1.80 | 1.30 | |
| | | | | 215 | 216 | 1 | 0.90 | 1.07 | |
| | | | | 224 | 227 | 3 | 2.70 | 3.66 | |
| | | | | 232 | 233 | 1 | 0.90 | 0.92 | |
| | | | | 242 | 245 | 3 | 2.70 | 4.50 | |
| VL-21-1090 | 14020E | 340 | -76 | 9 | 10 | 1 | 0.90 | 11.92 | |
| | | | | 15 | 19 | 4 | 3.60 | 3.96 | |
| | | | | 26 | 27 | 1 | 0.90 | 1.52 | |
| | | | | 210 | 211 | 1 | 0.90 | 1.17 | |
| | | | | 220 | 225 | 5 | 4.50 | 1.55 | |
| | | | | 230 | 231 | 1 | 0.90 | 8.25 | |
| | | | | 235 | 236 | 1 | 0.90 | 3.05 | |
| | | | | 260 | 261 | 1 | 0.90 | 0.72 | |
| | | | | 270 | 271 | 1 | 0.90 | 0.98 | |
| | | | | 274 | 275 | 1 | 0.90 | 0.97 | |
| | | | | 286 | 288 | 2 | 1.80 | 0.83 | |
| | | | | 314 | 315 | 1 | 0.90 | 0.74 | |
| VL-21-1091 | 13895E | 340 | -75 | 38 | 39 | 1 | 0.90 | 1.68 | |
| | | | | 47 | 49 | 2 | 1.80 | 2.39 | |
| | | | | 106 | 107 | 1 | 0.90 | 0.75 | |
| | | | | 144 | 148 | 4 | 3.60 | 1.08 | |
| | | | | 173 | 174 | 1 | 0.90 | 13.75 | |
| | | | | 176 | 179 | 3 | 2.70 | 0.89 | |
| | | | | 182 | 183 | 1 | 0.90 | 0.72 | |
| | | | | 190 | 192 | 2 | 1.80 | 1.46 | |
| | | | | 197 | 198 | 1 | 0.90 | 0.84 | |
| | | | | 199 | 200 | 1 | 0.90 | 0.78 | |
| VL-21-1092 | 14010E | 343 | -74 | 21 | 22 | 1 | 0.90 | 1.82 | |
| | | | | 34 | 36 | 2 | 1.80 | 1.36 | |
| | | | | 43 | 47 | 4 | 3.60 | 1.04 | |
| | | | | 74 | 75 | 1 | 0.90 | 0.70 | |
| | | | | 82 | 83 | 1 | 0.90 | 1.09 | |
| | | | | 85 | 87 | 2 | 1.80 | 0.83 | |
| | | | | 120 | 121 | 1 | 0.90 | 2.81 | |
| | | | | 134 | 136 | 2 | 1.80 | 2.73 | |
| | | | | 166 | 167 | 1 | 0.90 | 2.05 | |
| | | | | 195 | 196 | 1 | 0.90 | 0.82 | |
| VL-21-1093 | 14030E | 346 | -76 | 5 | 6 | 1 | 0.90 | 0.81 | |
| | | | | 66 | 67 | 1 | 0.90 | 0.71 | |
| | | | | 99 | 101 | 2 | 1.80 | 4.45 | |
| | | | | 106 | 107 | 1 | 0.90 | 1.98 | |
| | | | | 160 | 161 | 1 | 0.90 | 0.70 | |
| | | | | 196 | 206 | 10 | 9.00 | 0.92 | |
| | | | | 219 | 220 | 1 | 0.90 | 5.51 | |
| | | | | 255 | 258 | 3 | 2.70 | 1.27 | |
| | | | | 263 | 264 | 1 | 0.90 | 0.74 | |
| | | | | 270 | 271 | 1 | 0.90 | 0.99 | |
| VL-21-1094 | 14030E | 164 | -69 | 26 | 27 | 1 | 0.85 | 1.93 | |
| | | | | 59 | 60 | 1 | 0.85 | 1.66 | |
| | | | | 74 | 75 | 1 | 0.85 | 6.79 | |
| VL-21-1095 | 14035E | 345 | -74 | 9 | 10 | 1 | 0.90 | 0.70 | |
| | | | | 49 | 50 | 1 | 0.90 | 0.84 | |
| | | | | 87 | 88 | 1 | 0.90 | 0.93 | |
| | | | | 92 | 94 | 2 | 1.80 | 1.06 | |
| | | | | 118 | 121 | 3 | 2.70 | 1.27 | |
| | | | | 129 | 132 | 3 | 2.70 | 9.76 | |
| Including | | | | 131 | 132 | 1 | 0.90 | 23.20 | |
| | | | | 248 | 250 | 2 | 1.80 | 0.83 | |
| VL-21-1096 | 14030E | 350 | -74 | 106 | 107 | 1 | 0.90 | 2.45 | |
| | | | | 121 | 123 | 2 | 1.80 | 0.79 | |
| | | | | 161 | 166 | 5 | 4.50 | 3.75 | |
| | | | | 187 | 195 | 8 | 7.20 | 1.39 | |
| | | | | 218 | 219 | 1 | 0.90 | 1.69 | |
| | | | | 231 | 234 | 3 | 2.70 | 1.05 | |
| | | | | 272 | 276 | 4 | 3.60 | 1.44 | |
| | | | | 289 | 291 | 2 | 1.80 | 0.90 | |
| | | | | 298 | 299 | 1 | 0.90 | 3.24 | |
| | | | | 306 | 307 | 1 | 0.90 | 1.42 | |
| VL-21-1097 | 14100E | 347 | -72 | 9 | 11 | 2 | 1.80 | 4.66 | |
| | | | | 28 | 29 | 1 | 0.90 | 0.81 | |
| | | | | 37 | 38 | 1 | 0.90 | 0.78 | |
| | | | | 47 | 48 | 1 | 0.90 | 1.18 | |
| | | | | 104 | 107 | 3 | 2.70 | 8.26 | |
| Including | | | | 105 | 106 | 1 | 0.90 | 16.62 | |
| | | | | 130 | 138 | 8 | 7.20 | 0.78 | |
| | | | | 148 | 149 | 1 | 0.90 | 2.59 | |
| | | | | 161 | 168 | 7 | 6.30 | 3.40 | |
| | | | | 176 | 177 | 1 | 0.90 | 4.37 | |
| | | | | 215 | 217 | 2 | 1.80 | 1.28 | |
| VL-21-1098 | 14100E | 344 | -58 | 7 | 8 | 1 | 0.85 | 0.91 | |
| | | | | 26 | 31 | 5 | 4.25 | 0.71 | |
| | | | | 64 | 68 | 4 | 3.40 | 4.67 | |
| Including | | | | 64 | 65 | 1 | 0.85 | 15.64 | |
| | | | | 73 | 78 | 5 | 4.25 | 1.33 | |
| | | | | 93 | 94 | 1 | 0.85 | 0.87 | |
| VL-21-1099 | 14185E | 345 | -72 | 13 | 16 | 3 | 2.70 | 1.15 | |
| | | | | 42 | 43 | 1 | 0.90 | 5.43 | |
| | | | | 58 | 66 | 8 | 7.20 | 1.69 | |
| | | | | 81 | 83 | 2 | 1.80 | 5.01 | |
| | | | | 101 | 102 | 1 | 0.90 | 40.08 | 30 |
| | | | | 115 | 116 | 1 | 0.90 | 4.44 | |
| | | | | 126 | 128 | 2 | 1.80 | 0.77 | |
| | | | | 131 | 132 | 1 | 0.90 | 15.61 | |
| | | | | 134 | 136 | 2 | 1.80 | 1.47 | |
| | | | | 185 | 186 | 1 | 0.90 | 1.20 | |
| | | | | 210 | 211 | 1 | 0.90 | 6.38 | |
| | | | | 219 | 231 | 12 | 10.80 | 7.47 | 5.47 |
| Including | | | | 219 | 220 | 1 | 0.90 | 53.97 | 30 |
| Including | | | | 226 | 227 | 1 | 0.90 | 11.71 | |
| | | | | 335 | 336 | 1 | 0.90 | 1.01 | |
| | | | | 376 | 377 | 1 | 0.90 | 3.81 | |
| VL-21-1100 | 13650E | 344 | -75 | 56 | 58 | 2 | 1.80 | 2.70 | |
| | | | | 116 | 120 | 4 | 3.60 | 0.90 | |
| | | | | 142 | 143 | 1 | 0.90 | 0.78 | |
| | | | | 167 | 168 | 1 | 0.90 | 1.06 | |
| | | | | 171 | 172 | 1 | 0.90 | 1.07 | |
| | | | | 175 | 177 | 2 | 1.80 | 0.97 | |
| | | | | 196 | 197 | 1 | 0.90 | 0.90 | |
| | | | | 208 | 210 | 2 | 1.80 | 0.92 | |
| | | | | 231 | 232 | 1 | 0.90 | 2.22 | |
| | | | | 266 | 268 | 2 | 1.80 | 9.72 | |
| Including | | | | 266 | 267 | 1 | 0.90 | 18.05 | |
| | | | | 313 | 316 | 3 | 2.70 | 0.80 | |
| VL-21-1101 | 14220E | 347 | -77 | 32 | 34 | 2 | 1.80 | 1.50 | |
| | | | | 42 | 48 | 6 | 5.40 | 1.87 | |
| | | | | 65 | 67 | 2 | 1.80 | 7.84 | |
| Including | | | | 66 | 67 | 1 | 0.90 | 13.93 | |
| | | | | 107 | 108 | 1 | 0.90 | 0.86 | |
| | | | | 164 | 165 | 1 | 0.90 | 0.76 | |
| | | | | 173 | 174 | 1 | 0.90 | 1.22 | |
| | | | | 179 | 182 | 3 | 2.70 | 0.70 | |
| | | | | 190 | 192 | 2 | 1.80 | 5.05 | |
| | | | | 209 | 210 | 1 | 0.90 | 0.85 | |
| | | | | 218 | 220 | 2 | 1.80 | 0.74 | |
| | | | | 223 | 224 | 1 | 0.90 | 1.01 | |
| | | | | 225 | 226 | 1 | 0.90 | 0.87 | |
| | | | | 248 | 252 | 4 | 3.60 | 2.02 | |
| | | | | 260 | 263 | 3 | 2.70 | 2.23 | |
| | | | | 272 | 274 | 2 | 1.80 | 0.76 | |
| | | | | 284 | 285 | 1 | 0.90 | 36.15 | 30 |
| | | | | 298 | 301 | 3 | 2.70 | 1.50 | |
| | | | | 312 | 313 | 1 | 0.90 | 7.65 | |
| | | | | 322 | 323 | 1 | 0.90 | 0.73 | |
| | | | | 361 | 371 | 10 | 9.00 | 1.01 | |
| VL-21-1102 | 13650E | 346 | -75 | 24 | 28 | 4 | 3.60 | 1.79 | |
| | | | | 52 | 53 | 1 | 0.90 | 0.79 | |
| | | | | 157 | 158 | 1 | 0.90 | 16.32 | |
| | | | | 179 | 181 | 2 | 1.80 | 1.42 | |
| | | | | 196 | 218 | 22 | 19.80 | 1.33 | |
| | | | | 247 | 251 | 4 | 3.60 | 1.27 | |
| | | | | 271 | 278 | 7 | 6.30 | 0.81 | |
| | | | | 296 | 298 | 2 | 1.80 | 1.65 | |
| | | | | 322 | 324 | 2 | 1.80 | 0.82 | |
| | | | | 340 | 341 | 1 | 0.90 | 0.98 | |
| | | | | 355 | 356 | 1 | 0.90 | 0.74 | |
| | | | | 359 | 360 | 1 | 0.90 | 2.72 | |
| VL-21-1105 | 14240E | 344 | -77 | 25 | 26 | 1 | 0.90 | 1.01 | |
| | | | | 51 | 52 | 1 | 0.90 | 0.75 | |
| | | | | 56 | 57 | 1 | 0.90 | 4.80 | |
| | | | | 85 | 87 | 2 | 1.80 | 7.18 | |
| Including | | | | 85 | 86 | 1 | 0.90 | 11.73 | |
| | | | | 110 | 111 | 1 | 0.90 | 2.41 | |
| | | | | 149 | 151 | 2 | 1.80 | 0.93 | |
| | | | | 157 | 158 | 1 | 0.90 | 0.88 | |
| | | | | 182 | 184 | 2 | 1.80 | 0.88 | |
| | | | | 189 | 201 | 12 | 10.80 | 0.81 | |
| | | | | 236 | 237 | 1 | 0.90 | 3.33 | |
| | | | | 246 | 247 | 1 | 0.90 | 1.34 | |
| | | | | 252 | 253 | 1 | 0.90 | 2.18 | |
| | | | | 264 | 265 | 1 | 0.90 | 10.63 | |
| | | | | 274 | 279 | 5 | 4.50 | 1.09 | |
| | | | | 292 | 294 | 2 | 1.80 | 2.03 | |
| | | | | 301 | 308 | 7 | 6.30 | 0.91 | |
| | | | | 317 | 318 | 1 | 0.90 | 12.27 | |
| | | | | 323 | 324 | 1 | 0.90 | 4.25 | |
| VL-21-1106 | 13670E | 344 | -76 | 34 | 35 | 1 | 0.90 | 2.78 | |
| | | | | 39 | 62 | 23 | 20.70 | 3.80 | 2.98 |
| Including | | | | 39 | 41 | 2 | 1.80 | 33.55 | 24.21 |
| | | | | 133 | 134 | 1 | 0.90 | 0.71 | |
| | | | | 136 | 138 | 2 | 1.80 | 0.95 | |
| | | | | 143 | 144 | 1 | 0.90 | 8.93 | |
| | | | | 155 | 156 | 1 | 0.90 | 0.85 | |
| | | | | 172 | 173 | 1 | 0.90 | 0.90 | |
| | | | | 184 | 215 | 31 | 27.90 | 1.92 | |
| Including | | | | 204 | 205 | 1 | 0.90 | 14.61 | |
| | | | | 238 | 239 | 1 | 0.90 | 0.90 | |