Monday 26th September 2016

Resource Clips



Marathon President Phillip Walford on NFLD gold assays of 2.09 g/t over 82m

“We’re focusing on developing an open-pit resource by the end of the year. It’s a very large property, we’ve got about 17 kilometres of favourable strike, and the total resource right now covers only about 750 metres of the 17 kilometres. It’s not all going to be in line, but there’s a lot of potential in this property.

We’re prepared to take this into production ourselves, but we probably won’t have that option.—Phillip Walford

“Today’s results are part of our joint campaign with Mountain Lake that will total 25,000 metres this year. We will be doing an open-pit resource, and that will be the basis for a preliminary economic assessment. That’ll come out the first or second quarter of 2012.

“We’re about 90 kilometres from the Trans-Canada Highway. A paved highway comes off the Trans-Canada to a small town called Millertown, and a gravel road runs from there down to the site. There’s also a major power line about 20 kilometres away. We generate our own power, but certainly if there’s an operation there, we’d tap into that grid.

“It’s hard to say whether we’ll take this into production ourselves. We’re prepared to, but we probably won’t have that option. As a matter of background, Marathon Gold is a spinout of Marathon PGM, and when we were at Marathon PGM we made quite a large platinum, palladium and copper resource in Ontario. We were bought out by Stillwater Mining. They purchased us after we completed the feasibility study. So it’s hard to say. We’re prepared to go into production because my background is mining geology, not exploration, and most of our crew develop resources and reserves. So we’re certainly prepared to put this into production. We wouldn’t have a problem doing that at all.

“This is only one of our major projects. We’ve got another gold project in Idaho, the Golden Chest, and it’s also developing very well.”

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