Marathon Gold’s Over 4 Million Ounces of Gold in Newfoundland
Marathon Gold has found over four million ounces of gold in central Newfoundland.
Marathon is a Toronto based gold exploration company rapidly advancing its 100% owned Valentine Lake Gold Camp. Located in Newfoundland and Labrador, this is one of the top mining jurisdictions in the world. The Valentine Lake Gold Camp currently hosts four near-surface deposits, mainly pit-shell constrained, with measured and indicated resources totaling 2,691,400 oz. of gold at 1.85 g/t, and inferred resources totaling 1,531,600 oz. of gold at 1.77 g/t.
The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the current open pit shell. Both deposits are open to depth and on strike.
The company has traced gold mineralization down over 350 meters vertically at Leprechaun and almost a kilometer at Marathon. The four deposits identified by now occur over a 20-kilometer system of gold bearing veins. And much of the 24,000-hectare property has had only minimal exploration activity to date.
The Valentine Lake Gold Camp is accessible by year-round road and is in close proximity to the provincial electrical grid.
Marathon maintains a 50-person all-season camp at the property. Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and 50% to 70% recoveries via low cost heap leaching at both the Leprechaun and Marathon Deposits.
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