TD and National Bank Report Today 11:18 AM EST, 01/12/2023 (MT Newswires) -- Marathon Gold Corp. (MOZ.TO) reported Thursday assay results on in-fill drill holes completed at the Berry deposit within the Valentine gold project in Newfoundland. The company at last look surged 8% in early Thursday trading.
Highlights include 5.01 g/t gold over 18 meters including 23.02 g/t gold over 1 meter.
Results represent 5,490 meters out of 20,931 meters of drilling completed during the 2022 exploration program. Assays from 9,811 meters of drilling were previously reported.
"All of these results support the proposition that Berry has the potential to deliver additional mineable gold ounces above what is currently estimated," President and CEO Matt Manson said.
The company expects to report the remaining assays soon.
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Meanwhile, National Bank of Canada said Thursday that it ascribed a neutral bias to the results as they were an "incremental addition" to the drill database.
The bank gave Marathon an outperform rating with a $2.00 price target.
Price: 1.21, Change: +0.09, Percent Change: +7.59