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Be the first with the news that moves the market- Marathon Gold Corp (TSX:MOZ) has posted its latest round of assays from the company’s Valentine Gold Project in central Newfoundland
- Notable results included 8.06 grams per tonne of gold over 14 metres
- The 5,000-metre drill program totalled 16 drill holes along 850 metres of strike
- However, drilling was suspended in March due to COVID-19 shutdowns
- Marathon Gold Corp (MOZ) is down 1.7 per cent to C$1.43 per share, with a market cap of $265 million
Marathon Gold Corp (TSX:MOZ) have posted the latest round of assay results from the company’s Valentine Gold Project in central Newfoundland.
Marathon’s latest results were from 16 drill holes along 850 metres of strike length.
The company intersected 8.06 grams per tonne of gold over 14 metres, which included 21.94 grams per tonne over 3 metres.
Other results included 8.03 grams per tonne over 12 metres, including 16.9 gram per tonne over 2 metres, and 2,44 grams per tonne over 24 metres, including 10.79 grams per tonne over 3 metres.
Through the drilling, the company is further outlining the mineralisation at the site’s 6-kilometre-long Sprite corridor.
In the Berry Zone of the Sprite corridor where these results were returned from, the mineralised envelope appears bound on the northwest side by sheared dykes.
The mineralised strike is up to 40 metres wide, extends from surface to a depth of over 200 metres, and has now been drilled on multiple sections over more than 350 metres of strike.
President and CEO Matt Manson said the company was encouraged by the drill results, despite the site currently being closed due to COVID-19 restrictions.
“When our camp was closed on March 14, 2020 we had completed 5007 metres in 24 drill holes in the Sprite Corridor.
“This is a total strike length of approximately three kilometres of high exploration potential. Completing this plan will be our priority when we return to drilling,” he said.
Marathon Gold Corp (TSX:MOZ) is trading down 1.7 per cent at C$1.43 per share at 10:46am EST.
