drill resultsMarathon PGM Corporation Announces One of the Best PGM Intersections on the Property
Thursday December 2, 8:01 am ET
TORONTO, ONTARIO--(CCNMatthews - Dec. 2, 2004) - Marathon PGM Corporation (TSX VENTURE:MAR - News; Company) is pleased to announce the results of the six holes in the BR Zone. One of the six holes drilled in the zone had an exceptional intersection. Hole M-04-21 intersected 46 m grading 3.11 g/t combined palladium, platinum and gold and grading 0.19 % Cu. This is the one of the best PGM intersection on the property to date. M-04-21 was drilled 50 m south of Anaconda hole DH- 123 which intersected 15.5 m grading 4.7 g/t combined PGMs and 0.20 % Cu. The other drill holes to the north of M-04-21 show a pattern of better intersections to the west and down dip of the volcanic contact. M-04-17 intersection was diluted by a syenite dike.
The know zone of mineralization extents for approximately 200 m and is open down dip. The zone is also open along strike to the south for over 250 m with no drilling. The upper contact of the coarse grained gabbro with the fine grained gabbro to the west of the BR Zone has not been tested either. This zone will be a priority in 2005 drilling program. The drilling program will focus on developing additional resources in new zones.
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Est
Inter- True Total
From To section width Pd Pt Au PGM Cu
Hole (m) (m) (m) (m) (g/t) (g/t) (g/t) (g/t) (%)
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M-04-17 36.0 42.0 6.0 5.0 0.19 0.16 0.10 0.45 0.16
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M-04-18 26.0 42.0 16.0 15.0 1.03 0.39 0.06 1.48 0.08
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58.0 66.0 8.0 7.5 0.47 0.15 0.05 0.67 0.16
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74.0 78.0 4.0 3.7 1.12 0.36 0.18 1.66 0.31
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M-04-19 76.0 82.0 6.0 5.5 0.51 0.29 0.13 0.93 0.18
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M-04-20 36.0 44.0 8.0 8.0 0.82 0.20 0.04 1.06 0.04
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74.0 80.0 6.0 6.0 0.87 0.23 0.09 1.19 0.17
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98.0 102.0 4.0 4.0 0.81 0.26 0.10 1.16 0.31
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M-04-21 50.0 96.0 46.0 43.0 2.12 0.78 0.21 3.11 0.19
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Includes 50.0 84.0 34.0 32.5 2.64 0.99 0.25 3.87 0.21
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M-04-22 No significant intersections
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As previously announced, the Company completed 32 NQ core holes in three target areas south of the resource zone; Malachite Zone (10 holes), BR Zone (6 holes), RD Zone (8 holes) and additional drilling in the southern part of the resource area Southern Resource Area (8 holes) on the Company's 100% owned Marathon PGM-Cu Property (the "Property") located near Marathon, Ontario. The Company reported the results from the Malachite Zone already, the remaining holes as they become available. The accompanying map shows locations of the drill holes for the Malachite, BR and RD zones.