Marathon Gold drills 7.47 g/t gold over 12 metres at Valentine, Newfoundland

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Marathon Gold Corp. [MOZ-TSX; MGDPF-OTCQX] reported the latest drill assay results from the 100%-owned Valentine gold project in central Newfoundland. It is also releasing its 2022 exploration plans.

The latest drill results represent fire assay data from 17 diamond drill holes completed as part of the 2021 infill drill campaign at the 1.5-km-long Berry deposit. Highlights include VL-21-1099 intersected 7.47 g/t gold over 12 metres, including 53.97 g/t gold over one metre and including 11.71 g/t gold over one metre, and 40.08 g/t gold over one metre, and 15.61 g/t gold over one metre.

Hole VL-21-1106 intersected 3.80 g/t gold over 23 metres, including 33.55 g/t gold over two metres, and 1.92 g/t gold over 31 metres, and 0.94 g/t gold over 14 metres. VL-21-1101 intersected 36.15 g/t gold over one metre and 7.84 g/t gold over two metres, including 13.93 g/t gold over one metre, and 1.01 g/t gold over 10 metres. VL-21-1102 intersected 1.33 g/t gold over 22 metres and 16.32 g/t gold over one metre.

Following a successful 2021 exploration program, Marathon has approved a 2022 program of 50,000 metres of diamond drilling, focused on the Berry and Victory deposits. The 2022 program will also include a significant prospecting program along the approximately 13 km of geological contact at the Valentine Lake shear zone between the Victory deposit and the eastern boundary of the property. Marathon considers this area to be highly prospective for gold mineralization, and to have been largely unexplored until now. The programs of drilling and prospecting will be supported by additional structural geological and geophysical surveys, which have been proving essential in understanding the setting of the five currently known Valentine gold project mineral deposits.

Matt Manson, president and CEO, commented: “During 2021, we completed 74,000 metres of drilling at the Valentine gold project, including 58,200 metres at the Berry deposit. In total, the inventory of drilling at Berry now stands at approximately 100,000 metres. Assays from 62 2021 Berry drill holes, representing 16,700 metres, remain outstanding. Once received, we will commence the next Berry mineral resource estimate.

“As a reminder, the initial Berry estimate was published in April, 2021, and comprised 640,000 ounces classified as inferred mineral resources in 11.33 million tonnes at 1.75 g/t Au. This was based on 42,000 metres of Berry drilling completed as of November, 2020. Given the consistently good results received during the course of 2021, we are optimistic about the potential of Berry to add a meaningful quantity of future mineral resources to the Valentine gold project mine plan.”

Manson continued: “In addition to the remaining Berry results, fire assays remain outstanding from our 2021 drilling at the Victory and Sprite deposits, and from the Marathon waste rock facility area. The processing of screen metallic assays from our 2021 reverse circulation drill program at the Leprechaun and Marathon deposits is also ongoing. Results from these programs will be reported as they are received. Our 2022 exploration program has already commenced with three rigs currently operational.”

The 2021 infill drill program at the Berry deposit has been conducted with the objective of achieving an approximate 25-metre drill spacing over Berry’s Main zone of dense mineralization, and extending drill coverage into the Berry hangingwall to the northwest and down to a vertical depth of 300 metres.


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