- Marathon Gold Corporation(MOZ) has announced the results of a mineral resource estimate completed for the new Berry Deposit at the Valentine Gold Project in Central Newfoundland
- The resource estimate, based on 42,000 metres of drilling, indicated gold grades of up to 1.75 g/tonne
- Marathon has budgeted for up to 30,000 metres of additional drilling at the Berry Deposit in 2021
- Marathon Gold is a Toronto based gold company advancing its wholly-owned Valentine Gold Project in Newfoundland
- Marathon Gold (MOZ) closed trading up 3.49 per cent at $2.67 per share
Marathon Gold Corporation(MOZ) has announced the results of a mineral resource estimate for the new Berry Deposit.
The Berry Deposit is located at the Valentine Gold Project in Central Newfoundland.
The resource estimate is based on 42,000 metres of drilling completed at the end of November 2020 and is the first to be performed at the new deposit.
Results from the estimate were promising, indicating gold grades of up to 1.75 g/tonne.
Matt Manson, President and CEO of Marathon, commented,
“We are very pleased with this strong maiden resource estimate for the new Berry Deposit. Berry demonstrates the same style of concentrated quartz-tourmaline-pyrite gold veining in ‘Main Zone’ type configurations with which we are familiar elsewhere at the Valentine Gold Project.”
He added,
“It is early days at Berry, and substantial infill drilling is required to properly delineate its full resource potential. This is already a focus of our 2021 exploration program, and will be central to our exploration efforts carrying forward into 2022.”
Results from the Berry estimate will not be included in the company’s core development plan despite promising results.
Marathon has budgeted for up to 30,000 metres of additional drilling at the Berry Deposit in 2021, and exploration continues to be carried out.
Marathon Gold is a Toronto-based gold company advancing its wholly-owned Valentine Gold Project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world.
Mineral resources at the Valentine Gold Project have grown consistently since exploration by the company commenced in 2010.
Marathon Gold (MOZ) closed trading up 3.49 per cent at $2.67 per share.
