Old results from the Frank Zone sampling and drilling as well as assay reports. Food for thought perhaps even a silver lining?
Channel Samples include:
- 23.06 g/t Au over 2.96 meters including 64.75 g/t Au and 127.0 g/t Ag over 1.05 meters
- 2.40 g/t Au over 14.88 meters including 15.87 g/t Au and 25.2 g/t Ag over 1.00 meters
TORONTO, Oct. 24, 2012 /CNW/ - Marathon Gold Corporation ("Marathon" or the "Company") (MOZ: TSX) today announced the discovery of a new high-grade gold and silver-bearing sulphide-rich quartz-tourmaline-pyrite ("QTP-S") vein system in the J. Frank Zone, Valentine Lake Project, Newfoundland. The new vein system is comprised of two large east-west striking and moderately north dipping QTP-S veins, named the Repeater Hill and Adam Veins. Both veins range up to 1.3 meters in true thickness and have a current exposed strike length of 255 meters and 85 meters respectively. These veins are separated by 580 meters and both veins contain high-grade gold and silver, as well as local clots of massive galena, sphalerite and lesser malachite and azurite . Additionally, trenching efforts have doubled the length of the recently discovered J. Frank quartz-tourmaline-pyrite ("QTP") vein system to 285 meters.
"With the discovery of the new gold and silver-rich sulphide-bearing quartz-tourmaline-pyrite vein system, there are now two distinct high-grade gold mineralized systems identified at the Valentine Lake Project; the J. Frank and the Galley Vein system, which are the same as at the Leprechaun Gold Deposit and the silver-bearing Repeater Hill and Adam Vein system," said Phillip Walford, President and CEO of Marathon Gold. "The discovery of this new system further demonstrates the highly prospective nature of the expanding J. Frank Zone and we are just beginning to explore this area which is located 1.5 kilometers southwest of the Leprechaun Gold Deposit. We anticipate that along with the Leprechaun Gold Deposit, the J. Frank Zone will be a new value driver for the Company".
Highlights: Repeater Hill and Adam Vein System (QTP-S)
- The Adam Vein is exposed for 85 meters on surface and the Repeater Hill Vein is exposed for 255 meters on surface. There are 580 meters in between the two veins.
- Both the Adam and Repeater Hill Veins are open along strike and to depth.
- Channel sampling of the Adam Vein returned surface intervals of 23.06 g/t Au over 2.96 meters including 64.75 g/t Au and 127.0 g/t Ag over 1.05 meters, and 2.40 g/t Au over 14.88 meters including 15.87 g/t Au and 25.2 g/t Ag over 1.0 meter.
- High-grade vein grab samples, with up to 130.42 g/t Au, 110.50 g/t Au, 59.63 g/t Au and 56.60 g/t Au, have been collected along the 255 meter strike length of the new Repeater Hill Vein. Channel sampling is currently ongoing.
J. Frank and Galley Vein System (QTP)
- Channel sampling of the J. Frank Vein extension (Figure 1) returned surface intervals of 4.52 g/t Au over 5.65 meters including 19.55 g/t Au over 1.05 meters. This newly exposed extension adds 150 meters to the J. Frank Vein which now has a total east-west strike length of 285 meters. The J. Frank extension and most of the vein has not been drilled.
- The J. Frank Zone, including the newly discovered gold and silver-rich sulphide-bearing Adam and Repeater Hill Veins, now has a combined strike length of over 1.5 kilometers with significant mineralization extending northward into the hanging wall.
- Current drilling is focused on extending the strike length and down-dip projection of both the north dipping Repeater Hill and Adam Veins and the south dipping J. Frank and Galley Veins. Near surface sulphide-enriched QTP veining was also noted in VL-12-428 with 19.14 g/t Au, 17.8 g/t Ag, 0.03% Zn and 0.03% Pb over 1.0 meter, VL-12-433 with 3.41 g/t Au, 4.0 g/t Ag, 0.01% Zn and 0.14% Cu over 1.0 meter, and VL-12-422 with 0.32 g/t Au, 1.6 g/t Ag, 0.05% Zn and 0.02% Pb over 1.0 meter.
To view the J. Frank Zone Channel and Grab Sample map no longer available.. To view a high-grade gold - silver - sulphide QTP-S sample. No longer available, See chart below.
TABLE 1: Channel Sample Intervals - Adam and J. Frank Extension Vein
| Vein
Name | Vein
Type | Channel | Tag#
( from) | Tag#
(To) | Interval
(m) | Au_gpt | Ag_gpt | Zn_% | Pb_% | Cu_% |
| Adam Vein | QTP-S | 1 | 729304 | 729306 | 2.96 | 23.06 | 45.0 | 0.11 | 0.32 | 0.21 |
| (CH 1860) | | including | 729305 | | 1.05 | 64.75 | 127.0 | 0.29 | 0.89 | 0.59 |
| | | 2 | 729307 | 729309 | 2.88 | 3.34 | 4.0 | 0.01 | 0.01 | 0.14 |
| | | including | 729308 | | 1.02 | 8.35 | 9.74 | 0.02 | 0.03 | 0.40 |
| | | 3 | 729310 | 729314 | 4.19 | 5.87 | 31.0 | 0.07 | 0.17 | 0.08 |
| | | including | 729313 | | 1.04 | 21.50 | 124.0 | 0.26 | 0.66 | 0.29 |
| | | 4 | 729315 | 729316 | 2.29 | 10.99 | 148 | 0.42 | 1.44 | 0.33 |
| | | including | 729316 | | 1.18 | 21.22 | 287 | 0.81 | 2.80 | 0.64 |
| | | 5 | 729317 | 729318 | 2.22 | 0.19 | - | 0.01 | 0.01 | - |
| (CH8365) | | 6 | 729284 | 729302 | 14.88 | 2.40 | 3.67 | 0.02 | 0.02 | 0.02 |
| | | including | 729287 | | 1.00 | 15.87 | 25.2 | 0.07 | 0.03 | 0.16 |
| | | including | 729302 | | 1.23 | 7.30 | 13.2 | 0.06 | 0.12 | 0.09 |
| (CH 1860) | | 7 | 729319 | 729320 | 2.28 | 2.28 | 2.64 | 0.01 | 0.03 | 0.01 |
| Frank Extension | QTP | 1 | 729258 | 729263 | 5.65 | 4.52 | N/A | N/A | N/A | N/A |
| (CH8625A) | | including | 729260 | | 1.05 | 19.55 | N/A | N/A | N/A | N/A |
The Valentine Lake Project is 100% owned by Marathon Gold Corporation (July 9, 2012). Marathon is conducting a summer-fall 2012 program of prospecting, geological mapping and trenching along the highly prospective 23 kilometer strike length of the property outside of the current boundaries of the Leprechaun Gold Deposit. All grades in this release are uncut, and all thicknesses are estimated true thicknesses.
A total of 106 drill holes totaling 25,940 meters (74.1%) of the planned 2012 drilling campaign have now been completed and there is currently one drill turning.
All of the samples were analyzed at Eastern Analytical Laboratory Ltd., in Springdale, Newfoundland. Samples were assayed using lead collection fire assay with AA (atomic absorption) finish. Due to the coarse nature of the gold at the Leprechaun Gold Deposit, the metallic screening method is used on economically important intersections using standard fire assay techniques. The reported values in this release are fire assay results.
Sherry Dunsworth, M.Sc., P. Geo., VP of Exploration, Marathon's Qualified Person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon.