Friday 9th December 2016

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 CEO Phillip Walford on Newfoundland JV gold resource

April 1st, 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 an updated NI 43-101 mineral resource estimate for the Leprechaun deposit of the Valentine Lake project in central Newfoundland. The deposit now has measured and indicated resources of 424,000 ounces gold and inferred resource of 305,000 ounces.

The property is a 50/50 joint venture with Marathon as the project operator. Marathon President/CEO Phillip Walford tells ResourceClips.com, “During the last year we discovered that some of the historic drill holes were not what they should’ve been, and we’ve had to remove them from the database. That’s hurt us a little bit in the resource, in tonnage and grade and also in classification, but overall I think that will be behind us now. This year we’re pretty much mitigating all of that, and we’ve got an aggressive drill program going on. Our real focus now is on the high-grade zones, which really drive this deposit.

If you put $100 an ounce on [our resource], we’re grossly undervalued. And we’ve got about $8 million in cash. But right now everybody is undervalued. It’s just the market—Phillip Walford

“We want to get an open-pit resource out at the end of this drilling season. We’re drilling about 40,000 metres, so we’ll have a lot of information to put into the model. The drill program is underway, and there are three drills turning right now. All in all, we’ve had a little bit of a hiccup, but we’re moving right along, and I think the results that you’ll see in the next little while will show that we’re back on track and moving ahead to make this deposit grow.”

Asked whether Marathon and Mountain Lake intend to take Valentine Lake to production, Walford replies, “We’re doing everything just as we did with Marathon PGM. We’re doing everything to go into production. That’s our focus, and we’re not straying from that.” He adds, “We’ve got enough cash on Valentine to finish the drilling season, so we’re not too worried about that.

“We’re about 50 kilometres south of the town of Millertown, which is near Buchans, and we’re 95 kilometres from the Trans-Canada Highway. You can drive into the property. There’s also a major powerline about 20 kilometres away. Right now we’re on generator power, but for a mining operation we’d go on to grid power, which would save a lot of money.”

Is Marathon fairly valued? “I was just doing the sums actually,” Walford says. “If we include measured, indicated and inferred from the two projects that we’re involved with, we have a resource base of 556,000 ounces [gold]. Half of it’s inferred, half measured and indicated. So it depends on what kind of value you want to put on that. If you put $100 an ounce on [our resource], we’re grossly undervalued. And we’ve got about $8 million in cash. But right now everybody is undervalued. It’s just the market. We’ve been through this with Marathon PGM; we’re just in a market that doesn’t really value mining resource stocks right now, in particular gold.”

He concludes, “I’m really pleased with the way we’re developing it. We made some significant strides forward with exploration, with prospecting and just with surface exploration last year—the first time we did it. We’re going to do more of that. We’re also looking at downhole geophysics—we’re actually trying that out this week. We’ve definitely got a lot better handle on what this deposit’s all about. I’m really quite optimistic and excited about what we’re going to find as we go forward.”

View Company Profile

Read more about Marathon Gold

Contact:
Marathon Gold Corporation
Jennie Guay
Investor Relations Manager
416.987.0714

by Ted Niles

Marathon, Mountain Lake update Newfoundland Gold Resource Estimate

March 29th, 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 an updated NI 43-101 mineral resource estimate for the Leprechaun deposit of the Valentine Lake project in central Newfoundland. The deposit now has measured and indicated resources of 424,000 ounces gold and inferred resource of 305,000 ounces.

The property is a 50/50 joint venture with Marathon as the project operator. Marathon President/CEO Phillip Walford tells ResourceClips.com, “During the last year we discovered that some of the historic drill holes were not what they should’ve been, and we’ve had to remove them from the database. That’s hurt us a little bit in the resource, in tonnage and grade and also in classification, but overall I think that will be behind us now. This year we’re pretty much mitigating all of that, and we’ve got an aggressive drill program going on. Our real focus now is on the high-grade zones, which really drive this deposit.

If you put $100 an ounce on [our resource], we’re grossly undervalued. And we’ve got about $8 million in cash. But right now everybody is undervalued. It’s just the market—Phillip Walford

“We want to get an open-pit resource out at the end of this drilling season. We’re drilling about 40,000 metres, so we’ll have a lot of information to put into the model. The drill program is underway, and there are three drills turning right now. All in all, we’ve had a little bit of a hiccup, but we’re moving right along, and I think the results that you’ll see in the next little while will show that we’re back on track and moving ahead to make this deposit grow.”

Asked whether Marathon and Mountain Lake intend to take Valentine Lake to production, Walford replies, “We’re doing everything just as we did with Marathon PGM. We’re doing everything to go into production. That’s our focus, and we’re not straying from that.” He adds, “We’ve got enough cash on Valentine to finish the drilling season, so we’re not too worried about that.

“We’re about 50 kilometres south of the town of Millertown, which is near Buchans, and we’re 95 kilometres from the Trans-Canada Highway. You can drive into the property. There’s also a major powerline about 20 kilometres away. Right now we’re on generator power, but for a mining operation we’d go on to grid power, which would save a lot of money.”

Is Marathon fairly valued? “I was just doing the sums actually,” Walford says. “If we include measured, indicated and inferred from the two projects that we’re involved with, we have a resource base of 556,000 ounces [gold]. Half of it’s inferred, half measured and indicated. So it depends on what kind of value you want to put on that. If you put $100 an ounce on [our resource], we’re grossly undervalued. And we’ve got about $8 million in cash. But right now everybody is undervalued. It’s just the market. We’ve been through this with Marathon PGM; we’re just in a market that doesn’t really value mining resource stocks right now, in particular gold.”

He concludes, “I’m really pleased with the way we’re developing it. We made some significant strides forward with exploration, with prospecting and just with surface exploration last year—the first time we did it. We’re going to do more of that. We’re also looking at downhole geophysics—we’re actually trying that out this week. We’ve definitely got a lot better handle on what this deposit’s all about. I’m really quite optimistic and excited about what we’re going to find as we go forward.”

View Company Profile

Read more about Marathon Gold

Contact:
Marathon Gold Corporation
Jennie Guay
Investor Relations Manager
416.987.0714

by Ted Niles

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