Marlin Gold Announces Positive Drill Results at Six Mile Hill, Two Kilometers from the NI 43-101 Resource at Pearce Hill on the Commonwealth Project
Highlighted by 8.15 g/t Au Over 6.10mVANCOUVER, Feb. 15, 2018 - 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 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 ("RC") drill holes 17SMRC01, 17SMRC02 and 17SMRC03 (see press release dated July 17, 2017) 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.
RC drill holes 17SMRC05-08 further tested this zone and were drilled to intersect the structural zone nearly orthogonally to its interpreted orientation and provide approximate true width intercepts across the zone. All drill holes cut quartz veined zones and returned reportable gold intercepts as summarized in the table below. Drill holes 17SMRC09 and 17SMRC10 tested the northwestern limits of the surface exposures of quartz veining. Both drill holes intersected anomalously gold mineralized quartz veined zones, including 6.10 meters (interpreted true width of 5.1 meters) grading 8.15 g/t Au in drill hole 17SMRC10 from a quartz vein that does not obviously correlate to any surface exposure.
Drill holes 17SMRC05-08 returned gold intercepts from quartz veined zones that were lower grade than the intercepts returned from visually identical veined zones intersected in the first round of drill holes at Six Mile Hill (see press release dated July 17, 2017). Possible reasons for this difference include the high variability of gold concentrations within the veined zones, a sampling problem related to RC drilling methods and/or coarse gold irregularly distributed within the veins. Duplicate RC chip samples have been sent to an accredited laboratory for screen fire assays, designed to test for and quantify the extent to which coarse gold is present.
To test the repeatability of RC drilling results, drill hole 17SMRC03, which yielded 1.91 g/t Au over 30.48 meters, was twinned by drill hole 18SMRC11. Drill hole 18SMRC11 returned 3.10 g/t Au over 22.86 meters. This difference suggests that diamond core drilling may be necessary to adequately define the gold mineralized zones at Six Mile Hill, and that coarse gold may be present.
Akiba Leisman, Executive Chairman and Interim CEO states that "Six Mile Hill continues to produce positive drill results that add to the district potential of the Commonwealth Project. Importantly, the grades being encountered support both open pit and underground targets. It is exciting to be following up on these results, including the use of core drilling, as we are only beginning to understand the potential of Six Mile Hill."
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| 1 | As reported in the NI 43-101 compliant technical report entitled "National Instrument 43-101 Technical Report: Updated Mineral Resource Estimate for the Commonwealth Silver and Gold Project, Cochise County, Arizona, USA" with an effective date of August 27, 2016 and dated November 8, 2017 (the "Commonwealth Technical Report"). The Commonwealth Technical Report 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. Marlin is currently drilling and conducting metallurgical test work on the Commonwealth Project, including the area surrounding the NI 43-101 resource, with the intent to upgrade the Commonwealth Technical Report. Electronic copies of the Commonwealth Technical Report are available free of charge on Marlin's website at www.marlingold.com. |
The table below summarizes the significant intercepts drilled by Marlin at Six Mile Hill discussed in this press release.
| Drill Hole (1) | From (m) | To (m) | Length (m) | Interpreted True Width as | Au (g/t) |
| 17SMRC05 | 147.83 | 155.45 | 7.62 | 85% | 0.65 |
| 17SMRC05 | 175.26 | 179.83 | 4.57 | 85% | 0.49 |
| 17SMRC06 | 143.26 | 149.35 | 6.09 | 85% | 1.20 |
| 17SMRC07 | 129.54 | 138.68 | 9.14 | 85% | 0.94 |
| 17SMRC07 | 141.73 | 147.83 | 6.10 | 85% | 0.81 |
| 17SMRC08 | 135.64 | 141.73 | 6.09 | 85% | 0.89 |
| 17SMRC09 | No significant intercepts | ||||
| 17SMRC10 | 54.86 | 59.44 | 4.58 | 85% | 0.70 |
| 17SMRC10 | 236.22 | 242.32 | 6.10 | 85% | 8.15 |
| 18SMRC11 | 50.29 | 54.86 | 4.57 | 50% | 0.95 |
| 18SMRC11 | 99.06 | 121.92 | 22.86 | 50% | 3.10 |
| (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) | Based on the unproven assumption that the zone has the same orientations as narrow quartz veinlets mapped at surface. |
A geologic and assay cross section of drill hole 17SMRC10 can be viewed by clicking HERE and HERE.
A geologic and assay cross section of drill hole 18SMRC11 can be viewed by clicking HERE and HERE.
A map of Six Mile Hill that includes the location of historic holes, the drill holes discussed in this press release, previously drilled holes, 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, which oversees, directly or indirectly, the Company's exploration programs in Mexico and Arizona, a Qualified Person under the definitions of CSA NI 43-101, has supervised the preparation of the information that forms the basis for the scientific and technical disclosure in this news 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 three properties located in Mexico and the USA and a portfolio of royalties. Marlin's priority is to profitably operate its La Trinidad Mine, conduct further exploration on its other projects and enhance shareholder value through a strategic relationship with Sailfish Royalty Corp. (TSX-V:FISH). 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.
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 statements relating to: the anticipated access to mineralized material, including any potential mining thereof; the timing and scope of certain drilling programs; the receipt of assay results; statements regarding the perceived merit of properties, exploration programs and budgets; anticipated capital expenditures; mineral resource estimates; timelines; strategic plans; and other statements that are not statements of fact. These forward-looking statements are necessarily based upon a number of estimates and assumptions that are based on management's expectations and considered reasonable at the time they are made, including among others: that work proceeds in accordance with the timing and scope anticipated by management and that anticipated market prices for precious and base metals are achieved. Investors are cautioned that all forward-looking statements 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: 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 annual management's discussion and analysis 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.
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