ONTARIO & NEWFOUNDLAND - Marathon PGM Corp. of Toronto is enjoying success at both its Geordie Lake property near Marathon, ON, and its Leprechaun gold deposit in central Newfoundland.
At the 100%-owned Geordie Lake project, recent drilling returned 52 metres of 0.49% Cu, 0.96 g/t PGM and Au plus 4.5 g/t Ag. The company reports that using a 0.5% Cu cutoff the Main zone has been traced 800 metres along strike and to a thickness of 36 metres. The zone of higher grade mineralization in the Hanging Wall and Main zones remains open along strike and down dip. Moreover, 20 of 21 holes in the Main zone exceeded the average grade of the current resource estimate. A new estimate is expected soon.
Marathon is also busy drilling its highly prospective Leprechaun deposit where it intersected a new zone grading 3.43 g/t Au over 20.8 metres. The new zone is near surface and outside the current resource envelope. Visible gold with fine and coarse cubic pyrite in quartz-tourmaline vein stockwork was observed in five of the six holes drill this winter. Drilling continues.
The Leprechaun gold deposit is part of the Valentine Lake joint venture of Marathon and Mountain Lake Resources of Halifax.
Details about both these projects are posted at www.MarathonPGM.com.