Marathon Gold Intersects Near-Surface Gold Mineralization In The SW Extension Of The J. Frank Zone

Friday, January 11, 2013

TORONTO, Jan. 11, 2013 /CNW/ - Marathon Gold Corporation ("Marathon" or the "Company") (TSX: MOZ) today announced encouraging results from the latest round of shallow exploration drilling in the SW part of the J. Frank Zone,Valentine Lake Project, Newfoundland (Figure 1). The drilling focused along a 230 meter strike length of the Valentine Lake thrust fault; proximal to the Galley Veins area which contained previously reported high-grade gold values from prospecting and channel sampling (Sept 13, 2012 news release). The near surface drilling intercepted 6.88 g/t Au over 3.0 meters (TT) including 20.61 g/t Au over 1.0 meter (TT) in VL-12-483 and 2.18 g/t Au over 7.0 meters (TT) including 11.08 g/t Au over 1.0 meters (TT) in VL-12-476.

"These new drill results from the SW area of the J. Frank Zone are very encouraging as they confirm the occurrence of stacked gold-bearing QTP-veining up to 80 meters down-dip along the Valentine Lake thrust fault in the area proximal to the Galley Veins that contained high-grade gold on surface," said Phillip Walford, President and CEO of Marathon Gold.

Highlights include:

  • The near surface intervals of 6.88 g/t Au over 3.0 meters (TT) including 20.61 g/t Au over 1.0 meter (TT) in VL-12-483 and 2.18 g/t Au over 7.0 meters (TT) including 11.08 g/t Au over 1.0 meters (TT) in VL-12-476 represent an up to 80 meter down-dip interception of stacked gold-bearing QTP Galley Veins along theValentine Lake thrust fault.


     
  • This recent drilling in the SW - J. Frank Zone confirms the occurrence of high-grade gold mineralization in stacked QTP veining within a strong alteration halo both along a 230 meter strike length of the Valentine Lakethrust contact and for up to 135 meters into the hanging wall.

 

TABLE 1: Significant Assay Intervals from drill holes in the SW - J. Frank Zone*.

 

DDH Section Zone From To Core 

Length
TT (m) Gold(g/t) 

Uncut
VL-12-474 8170 FZ-SW 48 51 3 3 0.72
VL-12-475 8150 FZ-SW 63 67 4 4 1.40
VL-12-476 8125 FZ-SW 65 72 7 7 2.18
including     70 71 1 1 11.08
      81 84 3 3 1.70
VL-12-477 8200 FZ-SW 38 41 3 2.9 0.70
      74 77 3 2.9 0.78
VL-12-479 8225 FZ-SW 61 64 3 3 1.35
including     62 63 1 1 3.81
      71 74 3 3 0.99
VL-12-481 8000 FZ-SW 89 92 3 3 0.90
      96 100 4 4 0.74
      114 118 4 4 2.05
      120 123 3 3 1.18
VL-12-483 8100 FZ-SW 56 59 3 3 2.03
      80 83 3 3 6.88
including     81 82 1 1 20.61
VL-12-486 8200 FZ-SW 21 24 3 2.9 0.97
      49 52 3 2.9 0.72
VL-12-487 8220 FZ-SW 49 52 3 2.7 1.06
      67 70 3 2.7 2.11
* No significant intervals in VL-12-472, 473, 478, 480, 482, 484 and 485  

 

The Valentine Lake Project is 100% owned by Marathon Gold Corporation (July 9, 2012 news release). Marathon has begun a planned 10,000 meter winter 2013 diamond drilling program focused along the highly prospective 23 kilometer strike length of the Valentine Lake Property. All grades in this release are uncut, and all thicknesses are estimated true thicknesses.

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.

 

About the Valentine Lake Project