NEWFOUNDLAND – Marathon Gold Corp. of Toronto has updated the mineral resource estimate at its Leprechaun gold deposit at the Valentine Lake project and found a 14% increased in contained gold in the measured and indicated categories. The update was done after 8,757 metres of drilling in 2013.
The potential open pit has 3.5 million measured tonnes at 2.18 g/t Au and 6.2 million indicated tonnes at 2.07 g/t Au. The M&I material contains 659,000 oz of gold. There is also an inferred resource of 1.2 million tonnes at 1.82 g/t.
The potential underground mine has 108,000 measured tonnes at 4.82 g/t Au and 764,000 indicated tonnes at 4.05 g/t Au. These two categories contain 117,000 oz of gold. The inferred resource is 349,000 at 6.13 g/t Au.
Marathon has posted a description of its Valentine Lake property on its website, Marathon-Gold.com.