Marathon Gold (TSX: T.MOZ, Stock Forum) Tuesday reported the final results of the 2012 drilling program at the Golden Chest Mine in Idaho, which returned 10.8 grams per tonne (g/t) gold over 7.0 meters as part of a longer intercept of 4.41 g/t gold over 20.6 meters.
Marathon Gold owns 50% of the Golden Chest Mine, with the remaining 50% stake owned by the operator New Jersey Mining Corporation.
"These final results reveal the presence of a new high-grade gold shoot and the extension of a longer interval that was discovered in May of this year in the Katie and Dora area. Additionally, these concluding results demonstrate that there is the potential to increase the current open pit resource," said Phillip Walford, President and CEO of Marathon Gold, in a statement. "As the Company's focus is to generate value through resource expansion, the current Resource Estimate is being revised based on this year's drilling results and is expected to be released in the fourth quarter of this year."