Marathon discovers new gold intervals at Valentine Lake project

2 April 2014 (Last Updated April 2nd, 2014 18:30)

Canada-based mining firm Marathon Gold has intersected additional high-grade near-surface gold intervals from its exploration drilling programme in the Sprite area of the Valentine Lake project.

Valentine

Canada-based mining firm Marathon Gold has intersected additional high-grade near-surface gold intervals from its exploration drilling programme in the Sprite area of the Valentine Lake project.

As part of the programme, the company has intersected wide near-surface intervals of quartz-tourmaline-pyrite (QTP) layered with high-grade gold intercepts.

The Sprite area, which has a current strike length of more than 500m in all directions, has a drilling of about 2km from the Leprechaun Gold Deposit.

Marathon has reported 5.35g per tonne (g/t) of gold over 6m, comprising 11.65g/t of gold over 2.4m in VL-14-553, 4.38g/t of gold over 5.4m, including 10.85g/t over 1.8m in VL-14-561, and 2.73g/t of gold over 8.4m, including 17.56g/t over 1.2m in VL-14-557.

Marathon president and CEO Phillip Walford said the company's exploration team will focus on the Sprite area when the spring thaw is finished.

"The company's exploration team will focus on the Sprite area when the spring thaw is finished."

"We have 500m of strike length established by prospecting and drilling and more prospecting to do to extend the known mineralisation," Walford said.

According to the company, five holes that are left over are being assayed and all had intersected quartz pyrite tourmaline mineralisation.

The company has also discovered deeper intercepts of 3.83g/t gold over 5.6m, including 24.25g/t of gold over 0.8m in VL-14-554.

Marathon is currently in the early stages of finalising the summer's drilling programme for the area.


Image: Location map of Sprite area. Photo: courtesy of Marathon Gold Corporation.

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