Valentine Lake

Project Highlights

Marathon is a Toronto based gold resource company focused on its 100% owned Valentine Gold Camp located in central Newfoundland. The Valentine Gold Camp currently hosts four near-surface, mainly pit-shell constrained, gold resources totaling 1,060,100 oz. gold at 2.20 g/t (Measured & Indicated) and 200,000 oz. gold at 2.85 g/t (Inferred), (April 2015). These resources, open along strike and to depth, cover less than 10% of the total length of the highly prospective Valentine Lake Thrust Fault and associated splay faults which host the majority of the gold mineralization within the property.

  • Well-Funded Exploration Program: 35,000 metres of drilling is to be completed by the end of 2017.
  • Large Gold System: 20km long gold system known to date, just 10% of the gold trend has been looked at in any great detail, with many drill targets and multiple deposits, Lots of Blue Sky
  • Open Grades in the 2 gram range: 1,060,100 oz. gold at 2.20 g/t (Measured & Indicated) 200,000 oz. gold at 2.85 g/t (Inferred). All of the deposits are open to expansion and have underground potential.
  • Positive Metallurgical Recoveries: 93% to 98% recoveries via conventional milling. 50% to 70% recoveries at both the Leprechaun and Marathon Deposits through heap leaching.
  • Safe Jurisdiction/Supportive Government: We receive approximately $100,000 of government support per year in exploration grants from the Junior Exploration Assistance program. The Research & Development Corporation of Newfoundland and Labrador have 75% of the last two metallurgical tests.
  • Advanced Environmental Studies: Entering 6th year of environmental studies, we recently completed an Ecological Land Classification report. No red flags to date. No land claims.
Summary of Resources Open Pit
(0.50 g/t Au cut-off)
Underground
(3.0 g/t Au off)
Total
Total Valentine Gold Camp Deposit
(Leprechaun, Marathon, Sprite and Victory)
Tonnes
(kt)
Au Grade
(g/t)
Gold
(oz)
Tonnes
(kt)
Au Grade
(g/t)
Gold
(oz)
Tonnes
(kt)
Au Grade
(g/t)
Gold
(oz)
Measured & Indicated 13,963 2.05 919,000 1,031 4.26 141,100 14,994 2.20 1,060,100
Inferred 1,678 1.96 106,000 506 5.77 93,800 2,184 2.85 199,800

Valentine Lake