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Marathon Hits Positive Near-Surface Drilling Results at the Sprite Zone, Valentine Lake Property

 
07:00 EST Tuesday, Feb 26, 2013

 

TORONTO, Feb. 26, 2013/CNW/ - Marathon Gold Corporation ("Marathon" or the "Company") (MOZ: TSX) today announced positive results from near-surface drilling 350 meters northeast of the Leprechaun Deposit, in the Sprite Zone, Valentine LakeProject, Newfoundland (Figure 1). The drilling focused along a 400 meter strike length of the Valentine Lakethrust fault where previous historical and 2011 Marathon drilling identified areas of gold mineralization within an extensive zone of quartz-tourmaline-pyrite veining.

Highlights include:

  • 2.48 g/t Au over 8.0 meters (TT) with 8.99 g/t Au over 1.0 meters (TT) in VL-13-506 and 1.47 g/t Au over 10.0 meters (TT) with 5.40 g/t Au over 1.0 meter (TT) in VL-13-510.
  • Additional significant gold intercepts within 60 meters of surface include 1.04 g/t Au over 11.0 meters (TT) in VL-13-515, 1.36 g/t Au over 3.0 meters (TT) in VL-13-512, and 1.05 g/t Au over 3.0 meters (TT) in VL-13-516.
  • Drilling focussed on intersecting new mineralization within 60 meters of surface and 25 to 30 meters up-dip from previous historical drill hole intercepts including 1.85 g/t Au over 20.0 meters with 16.86 g/t Au over 1.0 meter in VL-11-264, 19.17 g/t Au over 3.0 meters with 29.17 g/t Au over 1.50 meters and 2.54 g/t Au over 9.21 meters with 11.43 g/t Au over 1.50 meters in VL-27, and 3.18 g/t Au over 4.10 meters with 8.40 g/t Au over 1.0 meters in VL-35.
  • The gold-bearing QTP - Au alteration halo within the Sprite Zone is now defined over a strike length greater than 400 meters and up to 100 meters into the hanging wall along the Valentine Lakethrust fault. The Sprite mineralization zone is open along strike and down dip.
  • Future drilling will focus on systematic expansion of the mineralization at the Sprite Zone.

"The intersection of good intervals of gold near surface at the Sprite Zone is encouraging as we work toward the development of additional resources", said Phillip Walford, President and CEO of Marathon Gold. "These new results continue to demonstrate the potential for delineating new gold occurrences along the 23 km strike length of the Valentine Lakethrust fault within Marathon's Valentine LakeProperty".

TABLE 1: Significant Assay Intervals from drill holes at the Sprite Zone.

 

DDH Section From To Core

Length
TT(m) Gold g/t
VL-13-506 11163 49 57 8 8 2.48
including   54 55 1 1 8.99
    89 92 3 3 0.65
VL-13-509 11175 37 40 3 3 0.95
VL-13-510 11138 44 54 10 10 1.47
including   52 53 1 1 5.40
VL-13-511 11188 56 59 3 3 0.69
    64 68 4 4 0.56
VL-13-512 11213 53 56 3 3 1.36
VL-13-514 11263 15 18 3 3 0.61
VL-13-515 10975 41 44 3 3 0.66
    48 59 11 11 1.04
    65 68 3 3 0.67
VL-13-516 10875 43 46 3 3 1.05
    92 96 4 4 0.95
    110 113 3 3 0.70

 

No significant intervals in VL-13-507, VL-13-508, and VL-13-513

To view figure#1 please click on the following: http://files.newswire.ca/1173/marathan0226.pdf

The Valentine LakeProject is 100% owned by Marathon Gold Corporation (July 9, 2012news release). Marathon has begun a 10,000 meter winter 2013 diamond drilling program focused along the highly prospective 23 kilometer strike length of the Valentine LakeProperty. 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.