National Bank not too excited.Nothing from
TD or
Sprott. I assume Sprott was quiet during the financing period so expect some updates bewteen now and mid March.
11:29 AM EST, 02/02/2023 (MT Newswires) -- Marathon Gold Corp. (MOZ.TO) reported Thursday assay results on the final 26 in-fill drill holes completed at the Berry deposit in 2022.
Marathon, which at last look fell 3.8% in early Thursday trading, said results include 1.96 g/t gold over 26 meters, including 25.79 g/t gold over 1 meter; and 1.88 g/t gold over 20 meters including 14.23 g/t gold over 1 meter.
"With this final batch of 2022 Berry drill results, we continue to see intercepts of high-grade mineralization outside of Berry's currently modeled mineralized domains," President and CEO Matt Manson said.
"The 2022 in-fill drilling at Berry has been very successful in delivering new areas of mineralization, and supports our assessment that additional mineable ounces remain to be delineated within the scope of the Project's current mine plan."
Meanwhile, National Bank of Canada ascribed a neutral bias to Marathon Gold's assays, which hints at the potential for resource accretion within the existing three-pit mine plan.
The bank estimated an average of 1.9 g/t over 2.4 meters from 23 holes/131 intercepts released.
National Bank maintained Marathon's outperform rating and $1.50 price target, reflecting Marathon's "world-class project in a Tier 1 jurisdiction" as well as "compelling organic opportunity and M&A appeal."