Marathon Gold starts drilling 10,000 m at Valentine
Ticker Symbol: C:MOZ

 

Marathon Gold starts drilling 10,000 m at Valentine

 

Marathon Gold Corp (C:MOZ) 
Shares Issued 59,939,411
Last Close 1/14/2013 $0.57
Tuesday January 15 2013 - News Release

Mr. Phillip Walford reports

MARATHON GOLD DRILLS FOR NEW POTENTIAL AT VALENTINE LAKE

Marathon Gold Corp. has commenced a 10,000-metre drilling program at the Valentine Lake project, located in Newfoundland. The winter 2013 drill program will focus on expanding both the underground and open pit resources at the Leprechaun Gold Deposit as well as targeting new gold occurrences from prospecting along a 17 km strike length of the Valentine Lake thrust fault including the Valentine East Area (includes VE Hill Zone, VE NE Zone and VE SW Zone), the Sprite Zone (includes Sprite Zone and Sprite NE Zone), and the J. Frank Zone (includes J. Frank Zone and SW J. Frank Zone) (Figure 1).

One drill is currently turning at the Valentine East Hill area where historical drilling returned positive results including 2.62 g/t Au over 3.2m in VL-99-18 and 5.67 g/t Au over 3.46m with 13.53 g.t Au over 1m and 2.20 g/t Au over 4.94m with 13.07 g/t Au over 0.44m in VL-98-1. These historic holes had incomplete sampling resulting in a discontinuous assay record over larger intervals of the drill core. A second drill is expected to start turning in the Sprite Zone in early February.

"It is anticipated that 2013 will be another exciting year for the Company as we launch our winter's drilling program focused on expanding the down-dip underground and open pit resource at the Leprechaun Gold Deposit with results expected to lead to a revised Resource in 2013. Additional drilling will focus on commencing resource development at the Valentine East, Frank and Sprite Zones," commented Phillip Walford, President and CEO of Marathon Gold Corporation.

Winter 2013 Goals:

Update open pit and underground resource estimates for the Leprechaun Gold Deposit in 2013. Targeted drilling at the Valentine East, Sprite and J. Frank Zones and, if appropriate, to commence development of near surface open pit resources. Continued environmental baseline work including water quality and wildlife surveys.

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.