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Resource Clips


Posts tagged ‘Mountain Lake Resources Inc (MOA)’

Marathon, Mountain Lake report Nfld Results up to 15.8 g/t Gold over 8m

May 14th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningMarathon Gold Corp TSX:MOZ in joint venture with Mountain Lake Resources Inc TSXV:MOA announced assays from their Valentine Lake Project in Newfoundland. Highlights include

15.8 g/t gold over 8 metres
(including 65.33 g/t over 1 metre)
8.06 g/t over 12 metres
(including 29.64 g/t over 1 metre)
22.05 g/t over 3 metres
(including 66.03 g/t over 1 metre)
9.07 g/t over 8 metres
(including 66.63 g/t over 1 metre)
0.64 g/t over 65 metres
(including 12.9 g/t over 1 metre)
6.97 g/t over 5 metres
(including 19.34 g/t over 1 metre)

Valentine Lake is a 50/50 joint venture with Marathon acting as project operator. Marathon President/CEO Phillip Walford said, “The Leprechaun Gold Deposit has continued to expand with our highly successful winter 2012 drilling program. The intersection of new, wide intervals of Main Zone-style mineralization in the J. Frank Zone confirms the continuity of the gold system operating along the highly prospective thrust fault, which extends for over 25 kilometres within the Valentine Lake property. Summer drilling has resumed and with three drills turning, steady news flow is expected.”

View Company Profile

Contact:
Marathon Gold Corp
Jennie Guay
IR Manager
416.987.0714

Mountain Lake Resources Inc
Greg Lytle
Corporate Communications
604.839.6946
866.285.5817

Read an interview with Marathon President/CEO Phillip Walford.

Read a feature story about Marathon Gold.

by Greg Klein

Marathon reports Newfoundland Gold Results as high as 13.81 g/t over 19m

April 10th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningMarathon Gold Corp TSX:MOZ in joint venture with Mountain Lake Resources TSXV:MOA announced results from their Leprechaun Gold Deposit in Valentine Lake, Newfoundland. Highlights include

13.81 g/t gold over 19 metres
(including 109.94 g/t over 2 metres)
7.23 g/t over 22 metres
(including 48.99 g/t over 2 metres)
9.19 g/t over 15 metres
(including 34.92 g/t over 2 metres)
3.93 g/t over 30 metres
(including 19.01 g/t over 5 metres)
4.05 g/t over 24 metres
(including 24.55 g/t over 2 metres)
2.78 g/t over 22 metres
(including 15.66 g/t over 2 metres)

The Valentine Lake Project, including the Leprechaun Gold Deposit, is a 50/50 joint venture with Marathon acting as project operator. Marathon President/CEO Phillip Walford remarked, “Building upon the previously announced drill results, these exciting new gold intercepts further confirm both the continuity of the gold system and the ongoing expansion of the Leprechaun Gold Deposit. As this year’s stepout drilling program progresses it is becoming increasingly clear that this is a sizeable deposit with more high-grade zones to be found.”

View Company Profile

Contact:
Marathon Gold Corp
Jennie Guay
IR Manager
416.987.0714

Mountain Lake Resources Inc
Greg Lytle
Communications Manager
866.285.5817
604.839.6946

by Greg Klein

Marathon, Mountain Lake report NFLD Gold Assays of 8.04 g/t over 4.3m

March 2nd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningMarathon Gold Corporation TSX:MOZ in joint venture with Mountain Lake Resources Inc TSXV:MOA announced assay results from the Leprechaun deposit of the Valentine Lake project in Newfoundland. Highlights include

8.04 g/t gold over 4.3 metres (including 35.71 g/t over 0.9 metres)
9.35 g/t over 2.6 metres (including 20.33 g/t over 0.9 metres)
4.11 g/t over 8 metres (including 24.76 g/t over 0.8 metres)
5.77 g/t over 3.4 metres (including 20.22 g/t over 0.9 metres)

The property is a 50/50 joint venture with Marathon as the project operator. Marathon President/CEO Phillip Walford said, “The intersection of this new high-grade gold mineralization is very encouraging because it reveals that the current resource is expanding down-dip to the southwest.”

View Company Profile

Read more about Marathon Gold

Contact:
Marathon Gold Corporation
Jennie Guay
Investor Relations Manager
416.987.0714

by Ted Niles

Mountain Lake reports Newfoundland Assays of 1.74 g/t Gold over 53.5m

January 4th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningMountain Lake Resources Inc TSXV:MOA announced results from its Glover Island Gold Property in western Newfoundland. Assays include

1.74 g/t gold over 53.5 metres
1.65 g/t over 44.7 metres
1.39 g/t over 11.7 metres
1.03 g/t over 12.4 metres
1.08 g/t over 7 metres

President/CEO Gary Woods commented, “We continue to be pleased with the grades and widths of the mineralized intervals encountered to date. A total of 7,227 metres of diamond drilling were completed in 29 holes in the 2011 program and our plans are to continue to follow up these broad intervals of mineralization once our 2012 drilling permits are in place. We will await receipt of the initial 2012 results before commencing the planned NI 43-101 resource calculation.”

View Company Profile

Contact:
Greg Lytle
Corporate Communications
604.839.6946
866.285.5817

by Greg Klein

Mountain Lake reports Newfoundland Results as high as 1.34 g/t Gold over 99.3m

December 14th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningMountain Lake Resources Inc TSXV:MOA announced assays from its Glover Island Gold Property in western Newfoundland. Results include

1.34 g/t gold over 99.3 metres
(including 4.1 g/t over 15 metres)
0.54 g/t over 40.7 metres
1.76 g/t over 26.6 metres
1.53 g/t over 7.5 metres

President/CEO Gary Woods commented, “We are very pleased with the latest results from the current drill program. The thickness and uniformity of the gold mineralization is quite remarkable and we are learning more about this unique deposit as the drill program progresses.”

View Company Profile

Contact:
Greg Lytle
Communications Manager
866.285.5817
604.839.6946

by Greg Klein

Mountain Lake reports Newfoundland Results as high as 0.7 g/t Gold over 130.9m

November 24th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningMountain Lake Resources Inc TSXV:MOA announced assays from its Glover Island Gold Property in western Newfoundland. Results include

0.7 g/t gold over 130.9 metres
1.48 g/t over 26 metres
(including 1.81 g/t over 12 metres)
2.03 g/t over 16.5 metres
2.26 g/t over 8 metres
2.18 g/t over 7.7 metres
1.99 g/t over 10.5 metres
5.05 g/t over 3 metres

President/CEO Gary Woods commented, “We are very pleased with the early results from our initial drill program. The grades are coming in roughly as expected from the historic work on the property but we are surprised at how thick the mineralization can be, relative to the historic widths. We also think there is potential to improve the resource by additional sampling within the historic resource boundaries.”

View Company Profile

Contact:
Greg Lytle
Communications Manager
866.285.5817
604.839.6946

by Greg Klein

Marathon, Mountain Lake reports Nfld Gold Assays up to 5.99 g/t over 12m

October 28th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningMarathon Gold Corporation TSX:MOZ in joint venture with Mountain Lake Resources Inc TSXV:MOA announced assays from the Leprechaun deposit of the Valentine Lake project in Newfoundland. Results include

3.69 g/t gold over 13 metres (including 39.8 g/t over 1 metre)
3.34 g/t over 10 metres (including 9.52 g/t over 3 metres)
6.61 g/t over 3 metres
1.23 g/t over 7 metres
5.99 g/t over 12 metres (including 28.88 g/t over 2 metres)
6.96 g/t over 3 metres
4.41 g/t over 3 metres
5.41 g/t over 5 metres (including 26.04 g/t over 1 metre)
5.73 g/t over 3 metres (including 17.09 g/t over 1 metre)
1.61 g/t over 13 metres (including 12.76 g/t over 1 metre)
5.94 g/t over 3 metres

The property is a 50/50 joint venture with Marathon acting as project operator. Marathon President/CEO Phillip Walford commented, “Our exploration initiatives have proven advantageous for Marathon. As we approach the end of our 2011 drill program, we continue to discover wide intervals of high-grade mineralization as well as significant hanging-wall and foot-wall mineralization. These new high-grade gold intercepts will have a positive impact on the new Leprechaun Gold Deposit resource which is on track for release in the fourth quarter of 2011.”

View Company Profile

Read More about Marathon Resources

Contact:
Marathon Gold Corporation
Jennie Guay
Investor Relations Manager
416.987.0714

by Ted Niles

Marathon, Mountain Lake report Newfoundland Results of 13.95 g/t Gold over 29m

October 7th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningMarathon Gold Corp TSX:MOZ in joint venture with Mountain Lake Resources Inc TSXV:MOA announced assays from the Leprechaun Deposit of their Valentine Lake Property in central Newfoundland. Results include

13.95 g/t gold over 29 metres
(including 37.01 g/t over 5 metres)
33.42 g/t over 4 metres
2.42 g/t over 20 metres
(including 12.35 g/t over 3 metres)
6.97 g/t over 3 metres
(including 20.8 g/t over 1 metre)
2.17 g/t over 8 metres
(including 10.35 g/t over 1 metre)

The property is a 50/50 joint venture with Marathon acting as project operator. The partners are jointly funding a $7.1-million budget for 2011. A total of 23,372 metres of the planned 25,000-metre drilling campaign for 2011 has been completed in 135 drill holes. The balance of this year’s drilling is expected to be completed this month, with results being released in the fall and an updated resource estimate later this year.

View Company Profile

Contact:
Marathon Gold Corp
Phillip Walford
President/CEO
416.987.0711

Mountain Lake Resources Inc
Greg Lytle
Communications Manager
866.285.5817
604.839.6946

Read more about Marathon Gold Corp

by Greg Klein

Marathon, Mountain Lake report Nfld Gold Assays of 3.5 g/t over 27m

October 3rd, 2011

Resource Clips - essential news on junior gold mining and junior silver miningMarathon Gold Corp TSX:MOZ in joint venture with Mountain Lake Resources Inc TSXV:MOA announced assays from the Leprechaun Deposit of their Valentine Lake Property in central Newfoundland. Results include

3.5 g/t gold over 27 metres
(including 13.86 g/t over 5 metres)
3.46 g/t over 26 metres
(including 15.16 g/t over 5 metres)
6.97 g/t over 9 metres
(including 18.5 g/t over 3 metres)
0.95 g/t over 35 metres
(including 3.03 g/t over 3 metres)
3.04 g/t over 10 metres
(including 19.36 g/t over 1 metre)

The property is a 50/50 joint venture with Marathon acting as project operator. The partners are jointly funding a $7.1-million budget for 2011. A total of 22,488 metres of the planned 25,000-metre drilling campaign for 2011 has been completed in 128 drill holes. The balance of this year’s drilling is expected to be completed this month, with results being released in the fall and an updated resource estimate later this year.

View Company Profile

Contact:
Marathon Gold Corp
Phillip Walford
President/CEO
416.987.0711

Mountain Lake Resources Inc
Greg Lytle
Communications Manager
866.285.5817
604.839.6946

Read more about Marathon Gold Corp

by Greg Klein

Rapid Resource Development

September 19th, 2011

Marathon Moves Quickly In Nfld and Idaho

By Ted Niles

In November 2010 Stillwater Mining Company TSX:SWC.U acquired Marathon PGM Corporation for its eponymous copper-palladium project in northwestern Ontario. The transaction earned Marathon PGM shareholders $118 million and saw the company’s remaining gold assets spun out into Marathon Gold Corporation TSX:MOZ. “Our background is rapid resource development,” says President and CEO Phillip Walford, “developing resources, then into reserves. We did that at Marathon PGM and, if anything, we’re doing it faster here.”

“Here” being the new company’s flagship Valentine Lake gold project, located 55 kilometres south of the town of Buchans, Newfoundland, which Marathon holds in 50/50 joint venture with Mountain Lake Resources Inc TSXV:MOA. Prior to Marathon, the property’s other joint venture partner was Richmont Mines Inc TSX:RIC. “Richmont looked at it from an underground mining point of view and basically walked on it,” Walford comments. “Then we came along and had a look. While Richmont was looking at Valentine from an underground-mining perspective, what I could see there was really, to start with anyway, an open pit. That was our concept, and it seems to be working.”

Marathon Moves Quickly In Nfld and Idaho

Since Marathon’s earn-in period began in December 2009 (which it completed January 2011), it has been the operator at Valentine Lake and in December 2010 produced from the property’s Leprechaun deposit its first NI 43-101 resource estimate of 277,000 ounces gold in the measured and indicated categories and 285,000 ounces inferred. Confirming Walford’s view that the project’s strength is in an open-pit scenario, 74% of the measured and indicated ounces occur within 150 metres of surface. He remarks, “We’ve got about 17 kilometres of strike length along the structure that has gold currents all the way along it. Our resource right now only represents about 800 metres of that. I’m not saying that it is all going to be ore or anything like it, but there’s lots of potential here. I firmly believe this is a multimillion ounce property.”

Marathon’s current 25,000-metre drill program consists of infill and exploration drilling at the Leprechaun deposit as well as exploration drilling at the project’s other main deposit, Valentine East. “We will be doing a new global resource, plus an open-pit resource,” Walford states, “to be completed in early November 2011. From there we have commissioned a preliminary economic assessment, and that will be completed sometime in 2Q 2012.”

September 8 assays of the Leprechaun deposit include

  • 32.24 grams per tonne gold over 3 metres (including 94.2 g/t over 1 metre)
  • 2.31 g/t over 17 metres
  • 10.16 g/t over 3 metres (including 29.9 g/t over 1 metre)
  • 1.93 g/t over 18 metres

August 30 assays included

  • 1.88 g/t gold over 34 metres (including 6.32 g/t over 5 metres)
  • 4.01 g/t over 13 metres (including 11 g/t over 3 metres)
  • 2.38 g/t over 17 metres
  • 7.19 g/t over 5 metres
  • 2.7 g/t over 15 metres (including 10.69 g/t over 3 metres)

Walford comments, “The deposit is starting to expand to the north and south, and that’s exactly what we want. We will see, I think, a very important increase in the total resource on the Leprechaun deposit. It will be very clear in the next two years how important this property is.”

Our background is rapid resource development; developing resources, then into reserves. We did that at Marathon PGM and, if anything, we’re doing it faster here —Phillip Walford

At an earlier stage of development, but no less important to Walford, is the company’s Golden Chest mine in the Coeur D’Alene mining district of Idaho. Golden Chest is a 50/50 joint venture with New Jersey Mining Company OTCQX:NJMC and has a non-NI 43-101 compliant “inferred geologic resource” of 231,000 ounces gold, which Newmont put together in the 1980s. “The thing that is very important with Golden Chest,” Walford relates, “is that we have about two square miles of property, but the core is patented claims. Those patented claims mean that we have the timber rights, the surface rights and the mineral rights. We do not have to permit to do work on the property, to do exploration, to make roads. If this was load claims it would be much more difficult to work in. The patented claims give us a huge advantage.”

This year’s program at Golden Chest consists of underground and surface drilling of 10,000 metres with New Jersey Mining as the operator. September 7 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
  • 2.96 g/t over 16.7 metres
  • 1.51 g/t over 29 metres
  • 1.58 g/t over 28.6 metres.

Walford comments, “We think the potential to make a fairly decent-sized pit is there, and there’s underground potential as well. The underground vein system goes down over 200 metres beyond the bottom level, and it still seems to be going. We’re probably going to put a lot of effort into it next year in drilling and in underground development.” Walford expects a resource for Golden Chest no later than January 2012.

Walford, whose background is in mining geology, has no trouble with the idea of Marathon going into production itself. However, given the experience with Marathon PGM—that it was bought out by Stillwater following the feasibility stage—and that capital costs for Valentine Lake “would probably be lower,” he is prepared for either eventuality.

“Both properties are moving ahead at the pace we want them to,” Walford concludes. “So we’re pretty excited. These properties look like winners, and we’re starting to get attention on the street.”

Marathon Gold Corporation TSX:MOZ has 22.9 million shares trading at $1.34 for a $30.7 million market cap.