UPDATE: Marathon Gold Corp Higher as Provides Leprechaun Gold Deposit Update
Marathon Gold Corporation (MOZ.TO) announced the results of in-fill drilling at the Leprechaun Gold Deposit. It said each of the 10 drill holes intersected significant zones of gold mineralization and confirmed the continuity of the mineralized zones along strike between adjacent sections within the Leprechaun Gold Deposit.
A total of 111 drill holes totaling 18,098m (72%) of Marathon's planned 25,000m 2011 drilling campaign have been completed to date. It is expected remaining drilling will be completed during Q4, with summarized results to follow shortly thereafter. All grades in this release are uncut, and all thicknesses are estimated true thicknesses. The Valentine Lake Project, including the Leprechaun Gold Deposit, is a 50/50 joint venture between Marathon Gold Corporation and Mountain Lake Resources. Both companies are equal contributors to the 25,000m drilling program now underway where Marathon is the operator.
Phil Walford, Marathon President and CEO said: "Our 2011 drilling program at Leprechaun continues to provide good results. These in-fill drill holes show our expected continuity of mineralization along strike both in and between sections in the Deposit, and advance our expectation for increased resources. The 2011 drill program remains on schedule for completion during October, which should enable us to keep our target of the first open pit NI 43-101 compliant resource at the Leprechaun Gold Deposit by year end."
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