NEWFOUNDLAND - Toronto-based Marathon PGM Corp. is getting closer to the pot of gold at the Leprechaun deposit 55 km south of Buchans. Recent drilling has returned "abundant" visible gold, defined a sub-horizontal lens in the hanging wall, and extended near surface mineralization to more than 550 metres along strike.
The best assay from the winter drill program was 8.37 g/t Au over a true width of 3.5 metres.
"This new find confirms our view that the 2 km long southeast main structure has the potential to host many such high grade lenses," said Marathon president Phill Walford.
David Good, VP of exploration commented, "Early on in the project we recognized the possibility that sub-horizontal mineralization could continue from the main mineralized zone and into the hanging wall and so proving up a lens with a series of closely spaced holes was a big step forward and bodes well for open pit mining potential."
The Leprechaun deposit is part of the Valentine Lake gold project in which Marathon is earning a 50% joint venture interest from Mountain Lake Resources.
Additional information is available at www.MarathonPGM.com.