Marlin Gold Announces Positive Drill Results at Six Mile Hill, 2 km from the Historic NI 43-101 Resource at Pearce Hill on the Commonwealth Project
Highlighted by 1.91 g/t Au Over 30.48mVANCOUVER, July 17, 2017 - Marlin Gold Mining Ltd. (TSX-V: MLN) ("Marlin" or the "Company") is pleased to announce positive drill results at Six Mile Hill approximately two kilometers southwest of Pearce Hill, which hosts a historic NI 43-101 Measured & Indicated resource of 984,900 gold equivalent ounces.1 Six Mile Hill and Pearce Hill are both located within the wholly owned Commonwealth silver and gold property in Cochise County, Arizona (the "Commonwealth Project").
Six Mile Hill hosts multistage banded epithermal veins that are poorly exposed in outcrop and in historic prospects. The area of historic prospects was drill tested in the 1980s by previous operators, who reported intersecting epithermal quartz veins without significant gold or silver content. Recent mapping by Marlin located the possible southeast extensions of these veined zones. Reverse circulation drill holes 17SMRC01, 17SMRC02, and 17SMRC03 successfully tested one of these zones over 400 meters of strike length and all intersected a mineralized quartz veined zone over drilled widths of 7.6 to 30.5 meters.
True widths cannot be demonstrated until additional drill intercepts cross the zone, but if the drilled zone maintains the same orientation as the near vertical, steeply southwest dipping quartz veins and veinlets in volcanic and volcaniclastic rock mapped at surface, true widths can be interpreted to be 50-55% of the drilled intercept.
Drill holes 17SMRC01 and 17SMRC03 tested a previously undrilled area, more than 215 meters distance from the nearest historic drill holes. Both yielded grades and mineralized thicknesses that exceed what Marlin mapped and sampled at surface. Specifically, 17SMRC01 intercepted 1.02 g/t Au over 30.48 meters (16.70 meters interpreted true width) and 17SMRC03 intercepted 1.91 g/t Au over 30.48 meters (15.20 meters interpreted true width).
Marlin plans to immediately follow up on these positive drill results by additional drilling along the strike and depth projection of the mineralized structure, and by geophysical surveys designed to trace the structures in covered areas.
Akiba Leisman, Executive Chairman and Interim CEO states that "when Marlin acquired Commonwealth in 2015, our view was that the property had the potential to be a mining district. Today's positive drill results from Six Mile Hill bring us one step closer to proving out the district potential at Commonwealth. Not only was mineralization intersected over two kilometers away from Pearce Hill, where a historic NI 43-101 resource exists, but the grades at Six Mile Hill are significantly higher. We will be immediately following up on these drill results to see how far we can extend the strike length and the down dip projection of this target."
The table below summarizes the significant intercepts drilled by Marlin at Six Mile Hill.
| Drill Hole (1) | From (m) | To (m) | Length (m) | Interpreted True Width (m) (4) | Au (g/t) |
| 17SMRC01 (2) | 76.20 | 106.68 | 30.48 | 16.70 | 1.02 |
| including (3) | 80.77 | 86.87 | 6.10 | 3.40 | 2.16 |
| Including (3) | 102.11 | 106.68 | 4.57 | 2.50 | 2.05 |
| 17SMRC01 | 120.40 | 126.49 | 6.10 | 3.40 | 1.33 |
| 17SMRC02 | 71.63 | 79.25 | 7.62 | 4.20 | 1.25 |
| 17SMRC03 | 54.86 | 59.44 | 4.57 | 2.30 | 0.61 |
| 17SMRC03 | 96.01 | 126.49 | 30.48 | 15.20 | 1.91 |
| Including (3) | 102.11 | 108.20 | 6.09 | 3.05 | 4.67 |
| 17SMRC04 | No significant intercepts | ||||
| (1) | Significant intercept defined as a minimum assay of 0.3 g/t Au over a minimum 4.57-meter interval (3 standard sample intervals) with no more than 1.52 meters (1 standard sample interval) of internal dilution below 0.3 g/t Au. |
| (2) | Includes 6.11 meters of internal dilution @ 0.23 g/t Au, from 96.01 to 102.11 meters. |
| (3) | Significant internal intercept defined as a minimum assay of 2.0 g/t Au over a minimum 4.57-meter interval (3 standard sample intervals) with no more than 1.52 meters (1 standard sample interval) of internal dilution below 0.5 g/t Au. |
| (4) | Based on the unproven assumption that zone has the same orientations as narrow quartz veinlets mapped at surface. |
A cross section of drill hole 17SMRC01 can be viewed by clicking HERE.
A cross section of drill hole 17SMRC02 can be viewed by clicking HERE.
A cross section of drill hole 17SMRC03 can be viewed by clicking HERE.
A map of Six Mile Hill that includes the location of historic holes, the drill holes discussed in this press release, results from rock chip samples and the surface interpretation of mineralized structures and/or veins can be viewed by clicking HERE.
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 cuttings were continuously sampled from inception to termination of the drill hole. Sample intervals were typically 1.52 meters. Drill holes at satellite targets, including San Ignacio, Blue Jeep and Six Mile Hill, were drilled using reverse circulation rigs and center return bits. Geologic data was captured into a digital database. One half split of the drill cuttings was collected for analysis and one half was retained in secure on-site storage. 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.
________________________________
1 As reported in the NI 43-101 compliant technical report entitled "Commonwealth Silver and Gold Project - National Instrument 43?101 Technical Report – Preliminary Economic Assessment" with an effective date of November 30, 2013 and dated April 30, 2014 (the "Commonwealth PEA"). The Commonwealth PEA is preliminary in nature, mineral resources are not mineral reserves and there is no certainty that all or any part will be converted to mineral reserves, and there is no certainty that the PEA will be realized. Furthermore, the estimates in the Commonwealth PEA are "historical estimates" within the meaning of NI 43-101 and have not been verified by the Company. Marlin is currently drilling and conducting metallurgical testwork on the Commonwealth Project, including the area surrounding the historic NI 43-101 resource, with the intent to verify and upgrade the Commonwealth PEA. Electronic copies of the Commonwealth PEA are available free of charge on Marlin's website at www.marlingold.com.
Contact
Akiba Leisman, Executive Chairman and Interim CEO
Marlin Gold Mining Ltd.
Telephone: 203-862-7059
E-mail: aleisman@marlingold.com