NEWFOUNDLAND – Toronto-based Marathon Gold Corp. says the recently discovered Marathon deposit adds an extra 30% to the indicated resource at the Valentine gold project 55 km south of Buchans. As it now stands, the indicated category contains 1.06 million oz of gold, up from 816,000 oz.
The company discovered the Marathon deposit in September 2014, making it the fourth deposit in the Valentine Gold Camp. The Marathon deposit contains 195,600 oz of gold in 3.073 million indicated tonnes grading 1.924 g/t Au plus 23,800 oz of gold in 280,000 inferred tonnes grading 2.643 g/t Au. Almost all of the mineralization is amenable to open pit recovery.
Marathon updated the estimates for two other deposits in the camp. The Sprite deposit has 337,000 indicated tonnes at 2.322 g/t Au plus 207,000 inferred tonnes at 3.325 g/t Au, for a total of 27,300 oz of gold. The Victory deposit has 997,000 indicated tonnes grading 2.007 g/t Au and 140,000 inferred tonnes at 3.042 g/t Au, for a total of 78,200 oz of gold.
The largest deposit, Leprechaun, has measured and indicated resources 10.588 million tonnes grading 2.28 g/t Au and 1.555 million tonnes of inferred resource averaging 2.29 g/t Au. The deposit is estimated to contain 914,000 oz of gold.
Technical reports for Valentine Lake are posted at Marathon-Gold.com.