Marathon Gold Intersects 8.26 g/t Gold over 5.5m (True Thickness) at the Golden Chest Mine, Idaho
TORONTO, Aug. 10, 2011 /CNW/ --
TORONTO, Aug. 10, 2011 /CNW/ - Marathon Gold Corporation ('Marathon' or the 'Company') (MOZ:TSX) is pleased to announce a drill intercept of 5.5 meters of 8.26 g/t gold
(True Thickness) in drill hole GC 11-11 from the core drilling program
underway at the Golden Chest Mine in Murray, Idaho. The Golden Chest
Mine is owned 50% by Marathon, and 50% by New Jersey Mining Company
('NJMC') (OTCBB: NJMC) where NJMC is the operator.
Drill hole GC 11-11 was one of thirteen drill holes that was part of the
underground resource drilling that targeted the Idaho vein below the
No. 3 Level. The Idaho vein intercept in GC 11-11 is about 125 meters
vertically below the No. 3 level, and 55 meters down dip of drill hole
GC 11-2 which assayed 33.0 g/t across 2.6 meters (True Thickness).
Open pit resource drilling continues to return good near surface
intercepts, including GC 11-23R which returned 2.34 g/t over 16.1
meters (True Thickness) and GC 11-28 which returned 1.48 g/t over 22.7
meters (True Thickness). The open pit drill results released to date
cover a strike length of 100 meters on a property where gold
mineralization has been traced on surface for 1,500 meters based on
historical workings, drill holes and soil sampling.
'Good surface to depth continuity of the Idaho vein is being proven by
our 2011 drilling program. The initial results for the Idaho open pit
resource area are demonstrating consistent good grades and continuity
of near surface mineralization,' said Phillip Walford, President and
CEO of Marathon Gold Corp.
Highlights:
-- GC 11-11 returned 8.26 g/t gold over 5.5 m (true thickness)
from 178.9 to 185.5 meters in further underground drilling of
the Idaho vein.
-- GC 11-23R returned 2.34 g/t gold over 16.1 m (true thickness)
from 2.2 meters down the hole.
-- GC 11-28 returned 1.48 g/t gold over 22.7 m (true thickness)
from 18.4 meters down the hole.
-- GC 11-21 returned 2.31 g/t gold over 12.9 m (true thickness)
from 2.0 meters down the hole.
Table 1 - Significant Drill Intersections at the Golden Chest Mine
____________________________________________________________________
| DDH* | Resource |From |To (m)|Core Width| True |Gold (g/t)|
| | Target | (m) | | (m) |Thickness | |
| | | | | | (m) | |
|_________|____________|_____|______|__________|__________|__________|
|GC 11-11 |U/G 'H' Vein| 92.7| 94.5| 1.8| 0.9 | 5.10|
| |____________|_____|______|__________|__________|__________|
| |U/G Idaho |178.9| 185.5| 6.6| 5.5 | 8.26|
| |Vein | | | | | |
|_________|____________|_____|______|__________|__________|__________|
|GC 11-20 |Open Pit | 15.4| 53.7| 38.3| 24.7 | 0.52|
|_________|____________|_____|______|__________|__________|__________|
|GC 11-21 |Open Pit | 2.0| 18.0| 16.0| 12.9 | 2.31|
|_________|____________|_____|______|__________|__________|__________|
|GC 11-22 |Open Pit | 2.0| 40.2| 38.2| 38.0 | 0.35|
|_________|____________|_____|______|__________|__________|__________|
|GC 11-23R|Open Pit | 2.2| 32.6| 30.4| 16.1 | 2.34|
|_________|____________|_____|______|__________|__________|__________|
|GC 11-25 |Open Pit | 17.3| 39.7| 22.4| 20.1 | 0.56|
|_________|____________|_____|______|__________|__________|__________|
|GC 11-28 |Open Pit | 18.4| 70.2| 51.8| 22.7 | 1.48|
|_________|____________|_____|______|__________|__________|__________|
|GC 11-35 |Open Pit | 52.6| 83.1| 30.5| 28.9 | 0.68|
| |____________|_____|______|__________|__________|__________|
| |includes | 52.6| 70.2| 17.6| 16.7 | 1.00|
|_________|____________|_____|______|__________|__________|__________|
* Note that hole numbers missing in the sequence above are still either
in the process of being logged by geologists or awaiting assay
analysis.
Surface core drilling at the Golden Chest is now focused on drilling the
open pit target on a 25 m by 25 m grid that extends for 250 meters
north-south and approximately 150 meters east-west. Two drill rigs are
currently working on the open pit resource with the goal of completing
10,000 meters of drilling by the end of this year.
All of the samples were analyzed by American Analytical of Osburn,
Idaho, an ISO certified laboratory. Samples were analyzed using lead
collection fire assay with a gravimetric finish. Sherry Dunsworth,
P.Geo. Vice President Exploration, is Marathon's Qualified Person in
compliance with National Instrument 43-101 with respect to this
release. Ms. Dunsworth has reviewed the contents for accuracy and has
approved this press release on behalf of Marathon.
The Golden Chest Mine
The Golden Chest Mine is located two miles east of Murray, Idaho within
the gold belt of the Coeur d'Alene Mining District. The mine has over
3,900 meters of underground workings and has the permits necessary to
drill and operate on the deposit. The property includes 24 patented
mining claims and 70 unpatented mining claims covering 497 hectares.
The patented claims that cover the mine workings have mineral and
surface rights enabling the Joint-Venture to work easily on the mine
property.
About Marathon Gold Corporation:
Marathon Gold Corporation is one of Canada's newest gold resource
development companies, with projects located in the mining friendly
province of Newfoundland and Labrador together with a project in the
prolific Coeur d'Alene Mining District of Idaho. Marathon has a
project pipeline consisting of early stage exploration to advanced
resource development projects. Marathon is continually evaluating new
gold resource development projects of merit that are located within the
Americas. Marathon's focused and low-cost approach to resource
development and exploration [switch order] has an established record of
delivering rapid growth. For more information visit: www.marathon-gold.com
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Marathon Gold Corporation
Phillip Walford, Pres., CEO
Tel: 1-416-987-0711