- Marathon Gold (MOZ) is reporting additional drill results from its Valentine Gold Project
- The Toronto-based mineral exploration company’s latest results are from the project’s Berry Deposit
- Assays returned up to 5.01 grams per tonne of gold over 18 metres
- The program has the potential to add mineable ounces to the project’s mine plan
- Marathon Gold is up 9.82 percent, trading at $1.23 at 12:48 p.m. EST
Marathon Gold (MOZ) reported additional drill results from its Valentine Gold Project.
The Toronto-based mineral exploration company’s latest results are from the Berry Deposit on the project, located in Central Newfoundland.
Assays returned up to 5.01 grams per tonne of gold over 18 metres and 3.5 grams over 14 metres.
The latest results represent fire assay data from 5,490 metres of drilling in 27 holes.
The program has the potential to add mineable ounces to the project’s mine plan.
All visible intercepts occur outside the Quartz-Tourmaline-Pyrite-Vein mineralized domain.
Marathon owns a 100 percent interest in the Valentine Project.
The Project comprises a series of five mineralized deposits along a 32-kilometre system.
“We set out the two principal priorities for our exploration at the Valentine Gold Project going forward: (1) delivering more ounces of mineable gold mineralization within the scope of the existing 3-pit mine plan, and (2) making new discoveries outside the scope of the mine plan,” said President and CEO Matt Manson.
“Today’s in-fill drill results at the Berry deposit should be understood in the context of the first of these priorities. As Figure 1 demonstrates, we continue to see long intersections of high-grade gold mineralization outside of Berry’s currently modeled mineralized domains including, from today’s results specifically, mineralization at the top and in the centre of the deposit. At depth, we are seeing long, continuous intercepts of gold mineralization associated with a sizeable domain of quartz-tourmaline-pyrite veining at the base of the mineral resource pit shell, as shown with DDH VL-22-1058 on Section 14100E, and illustrated in Figures 5 and 6. This large, mineralized area had been previously observed on adjacent sections, and was targeted with the 2022 drilling. All of these results support the proposition that Berry has the potential to deliver additional mineable gold ounces above what is currently estimated. We expect the final batch of 2022 Berry in-fill drill results to be reported shortly.”
Marathon Gold is up 9.82 percent, trading at $1.23 at 12:48 p.m. EST.