Marlin Gold Confirms the Discovery of a New Gold Zone at the Commonwealth Project - Highlighted by 2.20 g/t AuEq over 25.7 Meters
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VANCOUVER, May 4, 2017 /CNW/ - Marlin Gold Mining Ltd. (TSX-V: MLN) ("Marlin" or the "Company") is pleased to report drilling results from its wholly owned Commonwealth silver and gold project in Cochise County, Arizona (the "Commonwealth Project").
On January 30, 2017 Marlin reported the "Footwall Zone" discovery hole on Pearce Hill at the Commonwealth Project. Hole 16CDDH06 intersected 2.91 g/t gold equivalent using a 160:1 silver to gold ratio ("AuEq") over 25.8 meters (2.72 g/t Au and 30 g/t Ag). Since that discovery hole, Marlin has drilled an additional 12 core holes deep enough to test the Footwall Zone. Seven of these holes intersected AuEq grades significantly higher than the M&I resource grade from the April 2014 NI 43-101 Technical Report, including 17CDDH24 which intersected 2.20 g/t AuEq over 25.7 meters (2.08 g/t Au and 19 g/t Ag).
The original interpretation of the Footwall Zone was that of a parallel structure associated with the North Vein and part of the same mineralized zone. However, further drilling and geochemical analysis has suggested that this is a distinct structure, with higher gold values relative to silver, and formed at a different time and under different chemical conditions. This is consistent with the theory that this district, which Marlin has consolidated for the first time in modern history, is part of a larger hydrothermal system that has seen multiple mineralizing events and has hosted a number of economic gold and silver deposits.
Akiba Leisman, Executive Chairman and Interim CEO states that, "based solely on the discovery hole, the interpretation of the Footwall Zone was that of a high grade, but small target. Now that we have drill tested the Footwall Zone with 12 core holes, and hit significant intercepts on seven of these holes, we believe the potential of this target has increased substantially. As a result, we will continue drill testing down dip and along strike. Additionally, the better understanding of this new gold zone on Pearce Hill provides us an analog that we can look for elsewhere on our approximately 3,600 acres of privately owned land using targets developed from our geochemistry and geophysics programs."
Click HERE for a cross section that highlights drill holes 16CDDH06 (previously released on January 30, 2017) and 17CDDH13, which both intersected the Footwall Zone.
Click HERE for a cross section that highlights drill hole 17CDDH19, which intersected the Footwall Zone.
Click HERE for a cross section that highlights drill holes 17CDDH22 and 17CDDH24, which both intersected the Footwall Zone.
Click HERE for a plan view map of holes drilled deep enough to test the Footwall Zone with corresponding grade x thickness values.
All holes drilled to date have been in oxide mineralization, which can potentially be recovered through a heap leach process. The geometry of the Footwall Zone is variable and incompletely defined, but based on current interpretations true widths of mineralized intercepts are estimated to be 65% to 75% of the reported intercepts.
See below for a summary table of newly released drill holes. Intercepts in bold intersected the Footwall Zone.
| Drill Hole(1) | From (m) | To (m) | Length (m) | AuEq (g/t)(2) | Au (g/t) | Ag (g/t) | |
| 17CDDH11 | 94.48 | 102.36 | 7.88 | 0.60 | 0.28 | 51 | |
| and | 108.00 | 115.00 | 7.00 | 0.62 | 0.39 | 37 | |
| 17CDDH12 | 121.98 | 137.50 | 15.52 | 0.73 | 0.36 | 59 | |
| and | 140.30 | 161.00 | 20.70 | 0.71 | 0.45 | 42 | |
| and(3) | 222.80 | 228.43 | 5.63 | 0.78 | 0.74 | 7 | |
| 17CDDH13 | 2.00 | 8.00 | 6.00 | 0.96 | 0.37 | 95 | |
| and | 71.80 | 80.30 | 8.50 | 1.29 | 0.83 | 74 | |
| and(3) | 93.30 | 100.50 | 7.20 | 0.70 | 0.65 | 7 | |
| 17CDDH14 | 0.00 | 34.00 | 34.00 | 1.07 | 0.89 | 29 | |
| Including(4) | 14.00 | 23.00 | 9.00 | 2.30 | 1.97 | 60 | |
| and | 37.00 | 43.76 | 6.76 | 0.36 | 0.31 | 7 | |
| 17CDDH15 | 18.00 | 29.30 | 11.30 | 0.95 | 0.83 | 19 | |
| and | 42.00 | 68.00 | 26.00 | 1.24 | 1.12 | 19 | |
| including(4) | 46.00 | 60.00 | 14.00 | 2.00 | 1.88 | 21 | |
| and | 72.00 | 87.45 | 15.45 | 1.54 | 1.24 | 48 | |
| 17CDDH16 | 0.00 | 10.00 | 10.00 | 0.52 | 0.34 | 29 | |
| and | 37.40 | 45.00 | 7.60 | 0.61 | 0.20 | 65 | |
| and | 114.00 | 122.00 | 8.00 | 0.91 | 0.81 | 15 | |
| 17CDDH17 | 5.55 | 12.75 | 7.20 | 1.57 | 1.46 | 18 | |
| and | 34.00 | 43.00 | 9.00 | 0.44 | 0.24 | 32 | |
| and | 48.00 | 60.50 | 12.50 | 0.54 | 0.38 | 26 | |
| 17CDDH18 | 66.44 | 73.85 | 7.41 | 0.37 | 0.23 | 23 | |
| and | 112.00 | 126.00 | 14.00 | 2.95 | 2.79 | 26 | |
| including(4) | 118.00 | 124.90 | 6.90 | 5.40 | 5.16 | 41 | |
| 17CDDH19 | 12.00 | 34.00 | 22.00 | 0.75 | 0.34 | 67 | |
| and | 38.00 | 56.00 | 18.00 | 0.56 | 0.17 | 63 | |
| and | 93.25 | 116.00 | 22.75 | 1.78 | 1.70 | 13 | |
| including(4) | 102.00 | 112.00 | 10.00 | 3.50 | 3.37 | 13 | |
| 17CDDH20 | 48.00 | 84.79 | 36.79 | 0.63 | 0.25 | 61 | |
| and | 87.23 | 104.00 | 16.77 | 0.66 | 0.21 | 72 | |
| and | 110.00 | 122.00 | 12.00 | 0.87 | 0.58 | 47 | |
| and | 126.00 | 138.00 | 12.00 | 0.56 | 0.19 | 58 | |
| 17CDDH21 | 120.97 | 132.45 | 11.48 | 0.89 | 0.61 | 45 | |
| 17CDDH22 | 0.00 | 17.70 | 17.70 | 1.15 | 0.66 | 79 | |
| and | 30.17 | 41.40 | 11.23 | 0.63 | 0.22 | 65 | |
| and | 50.00 | 56.00 | 6.00 | 0.48 | 0.30 | 30 | |
| and | 67.00 | 77.00 | 10.00 | 0.53 | 0.35 | 30 | |
| and(3) | 96.90 | 107.00 | 10.10 | 1.40 | 1.34 | 10 | |
| 17CDDH23 | 24.00 | 42.00 | 18.00 | 0.38 | 0.23 | 24 | |
| 17CDDH24 | 40.90 | 58.00 | 17.10 | 0.49 | 0.20 | 47 | |
| and | 65.65 | 85.00 | 19.35 | 0.79 | 0.54 | 40 | |
| and | 112.00 | 137.70 | 25.70 | 2.20 | 2.08 | 19 | |
| including(4) | 116.00 | 125.35 | 9.35 | 2.60 | 2.46 | 20 | |
| including(4) | 130.00 | 137.70 | 7.70 | 3.60 | 3.43 | 24 | |
| (1) | Significant intercept defined as a minimum assay of 0.3 g/t AuEq over a minimum 6-meter interval with no more than 2 meters of internal dilution below 0.3 g/t AuEq. |
| (2) | Gold equivalent ("AuEq") values at a silver to gold ratio of 160:1. |
| (3) | Intercepts in italics for holes 17CDDH12, 17CDDH13 and 17CDDH22 are included in this table because they are Footwall Zone intercepts, but do not meet the definition of a "significant intercept" because they are either shorter than 6 meters or have greater than 2 meters of internal dilution. |
| (4) | Significant internal intercept defined as a minimum assay of 2.0 g/t AuEq over a minimum 6-meter interval with no more than 2 meters of internal dilution below 0.5 g/t AuEq. |
Dr. Matthew D. Gray. C.P.G., of Resource Geosciences Incorporated, a Qualified Person under the definitions of CSA NI 43-101, implemented and supervised industry standard QA/QC protocols for the Commonwealth Project drill sampling program including insertion of duplicate and reference standard samples. Dr. Gray has verified the reliability of the drill sampling results reported in this press release.
Notes on Sampling and Assaying
Drill core was continuously sampled from inception to termination of the drill hole. Sample intervals were typically two meters. All drill holes were started as large diameter PQ (8.5cm) core holes, and were reduced to HQ (6.35cm) only where drilling conditions required. Geologic and geotechnical data was captured into a digital database, core was photographed, then one half split of the core was collected for analysis and one half was retained in the core library. Samples were kept in a secured logging and storage facility until such time that they were received on site by representatives of Skyline Assayers and Laboratories ("Skyline"). Sample preparation and analysis of pulps was done in the Tucson, Arizona facilities of Skyline. Gold was analyzed by standard fire assay fusion, 30 gram aliquot, AAS finish, with samples reporting greater than 10 grams per tonne gold re-assayed by fire assay fusion with gravimetric finish. Controls samples consisting of duplicates, standards, and blanks were inserted into the sample stream and analytical results of control samples confirmed reliability of the assay data.
About Marlin Gold
Marlin is a growth-oriented gold and silver mining company focused on the Americas. The company owns two properties located in Sinaloa, Mexico and Arizona, USA and a portfolio of royalties. Marlin's priority is to advance its properties toward commercial production and enhance shareholder value through the growth of its wholly owned subsidiary, Sailfish Royalty Corp. Marlin is backed by a well-funded investor with a successful track record in the resources sector. The La Trinidad Mine in Sinaloa, Mexico declared commercial production on November 1, 2014 and is one of the highest-grade open pit heap leach gold mines in Mexico. A NI 43-101 mineral resource estimate and preliminary economic assessment for the La Trinidad Mine and Commonwealth Project can be found at www.sedar.com or at www.marlingold.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary statement regarding forward?looking information
This news release contains 'forward-looking statements' within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, the intended use of proceeds. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on management's expectations and considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: the risk that the anticipated effects of the equity financing may not result in the outcomes predicted by management, uncertainties related to raising sufficient financing to fund planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the Company's current Annual Information Form filed on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. Unless required by law, Marlin has no intention to and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Marlin Gold Mining Ltd.
Contact
Akiba Leisman, Executive Chairman and Interim CEO, Marlin Gold Mining Ltd., Telephone: 203-862-7059, E-mail: aleisman@marlingold.com