Marathon Gold Corp TSX:MOZ in joint venture with New Jersey Mining Company NJMC announced results from their Golden Chest Mine in Idaho. Assays include 5.15 g/t gold over 40 metres (including 137 g/t over 1.2 metres), 1.48 g/t over 45.7 metres (including 12 g/t over 3 metres), 2.96 g/t over 16.7 metres, 1.51 g/t over 29 metres (including 2.64 g/t over 12.8 metres), 1.58 g/t over 28.6 metres and 1.3 g/t over 21 metres.
The companies each hold 50% of the project, with New Jersey acting as operator. Marathon must spend US$4 million or face dilution of its interest. Marathon may elect to spend an additional US$3.5 million to increase its interest to 60% and become project operator.
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Marathon Gold Corp
New Jersey Mining Company
by Greg Klein