- Marathon Gold (MOZ) reports exceptional Berry Drill Results
- These latest results represent fire assay data from fifteen drill holes located within the 1.5 kilometers long Berry Deposit
- All quoted intersections comprise uncut gold assays in core lengths
- The latest drilling further confirms a strong concentration of mineralization with good continuity in this central area of the deposit
- Marathon Gold Corporation (MOZ) is down 1.17 per cent and is trading at C$2.54 at 12:51 pm ET
Marathon Gold Corporation (MOZ) reports results from exploration drill holes completed at the Valentine Gold Project in central Newfoundland.
These latest results represent fire assay data from fifteen drill holes located within the 1.5 kilometers long Berry Deposit, for which Marathon recently released the first mineral resource estimate.
All quoted intersections comprise uncut gold assays in core lengths.
Matt Manson, President & CEO commented,
“Following the release of our first mineral resource estimate for the Berry Deposit last week, today’s drill results are amongst the best we have ever reported from this important new discovery."
"A total of 13,695 meters of drilling in 51 drill holes was completed with three rigs at the Berry Deposit prior to our annual spring shut down on March 25," added Manson.
Gold mineralization at the Valentine Gold Project is contained predominantly within shallowly southwest dipping, en-echelon stacked Quartz-Tourmaline-Pyrite-Gold veins.
At the Leprechaun and Marathon Deposits, as well as at the new Berry Deposit, these QTP-Au veins from densely stacked and northwest plunging “Main Zone” envelopes within intrusive host rocks on the hanging wall (northwest) side of the Valentine Lake Shear Zone.
The extent of mineralization appears related to the size and frequency of sheared mafic dykes which extend northeast-southwest within the hanging wall, parallel to the shear zone.
Exploration drilling is generally undertaken in two orientations: down steeply towards the northwest at a high angle to the individual veins and down-plunge of the Main Zone stacking.
Nine of the fifteen holes were oriented to the southeast from the hanging wall toward the footwall contact.
The remaining six holes were oriented steeply down to the northwest testing for Main Zone type stacked QTP-Au mineralization close to the Valentine Lake Shear Zone.
All fifteen drill holes returned “significant” drill intercepts of greater than 0.7 g/t Au, and each drill hole returned additional intercepts with gold grades above the 0.3 g/t Au cut-off used in the April 2021 Mineral Resource Estimate for the Berry Deposit.
Five of the drill holes released today are located within a 50-meter long area of the Valentine Lake Shear Zone centered around section 13700E.
This is the same area where drill holes VL-20-823 and 824 returned intercepts of 3.33 g/t Au over 120 meters and 3.37 g/t Au over 36 meters, respectively.
The latest drilling further confirms a strong concentration of mineralization with good continuity in this central area of the deposit.
Marathon is a Toronto-based gold company advancing its 100 per cent-owned Valentine Gold Project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world.
Marathon Gold Corporation (MOZ) is down 1.17 per cent and is trading at C$2.54 at 12:51 pm ET.