Marathon is a Toronto based gold exploration company rapidly advancing its 100% owned Valentine Lake Gold Camp located in Newfoundland, one of the top mining jurisdictions in the world. The Valentine Lake Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 1,847,000 oz. of gold at 1.88 g/t and inferred resources totaling 1,012,000 oz. of gold at 1.65 g/t. The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the pit shell. Both deposits are open to depth and on strike. Gold mineralization has been traced down over 350 metres vertically at Leprechaun and almost a kilometer at Marathon. The four deposits outlined to date occur in a 30-kilometer gold trend on the property, with much of the 24,000-hectare property having had little detailed exploration activity to date.
- Large Gold System: 20km long gold system known to date, just 10% of the gold trend has been looked at in any great detail, with many drill targets and multiple deposits, Lots of Blue Sky
- Positive Metallurgical Recoveries: 93% to 98% recoveries via conventional milling. 50% to 73% recoveries at both the Leprechaun and Marathon Deposits through heap leaching.
- Safe Jurisdiction/Supportive Government: We receive approximately $150,000 of government support per year in exploration grants from the Junior Exploration Assistance program. The Research & Development Corporation of Newfoundland and Labrador have 75% of the last two metallurgical tests.
- Advanced Environmental Studies: Entering 7th year of environmental studies, we recently completed an Ecological Land Classification report. No red flags to date.
Summary of Resources for the Valentine Lake Gold Camp 2017
Total Property Resource
|Deposit / Category||Open Pit||Underground||Total|
|Valentine Lake Gold Camp Summary|
|Measured & Indicated Mill||17,479,000||2.63||1,476,400||1,810,000||3.67||213,300||19,289,000||2.72||1,689,700|
|Measured & Indicated Heap Leach||11,189,000||0.44||156,800||–||–||–||11,189,000||0.44||156,800|
|Total Measured & Indicated||28,668,000||1.77||1,633,200||1,810,000||3.67||213,300||30,478,000||1.88||1,846,500|
|Inferred Heap Leach||7,006,000||0.43||97,000||–||–||–||7,006,000||0.43||97,000|