Marathon Gold Corporation

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  10 King Street East, Suite 501
Toronto, Ontario
Canada M5C 1C3
Tel No.: (416) 987-0714
Fax No.: (416) 861-1925
Web Site:
Contact Person: Christopher Haldane
Position: Manager, Investor Relations

Company Data

Traded Market: TSX / OTCQX
Traded Symbol: MOZ / MGDPF
Outstanding Shares: 146,013,352
Fully Diluted: 159,725,202
52 Week High: $ 1.33
52 Week Low: $ 0.88
Present Price: Click Here








Marathon is a Toronto based gold exploration company rapidly advancing its 100% owned Valentine Lake Gold Camp located in Newfoundland, one of the top mining jurisdictions in the world.

The Valentine Lake Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 2,137,400 oz. of gold at 1.99 g/t and inferred resources totaling 1,104,700 oz. of gold at 1.99 g/t. The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the pit shell. Both deposits are open to depth and on strike. Gold mineralization has been traced down over 350 metres vertically at Leprechaun and almost a kilometer at Marathon. The four deposits outlined to date occur over a 20-kilometer system of gold bearing veins, with much of the 24,000-hectare property having had little detailed exploration activity to date.

The Valentine Lake Gold Camp is accessible by year-round road and is located in close proximity to Newfoundland's electrical grid. Marathon maintains a 50-person all-season camp at the property. Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and 50% to 70% recoveries via low cost heap leaching at both the Leprechaun and Marathon Deposits.


Valentine Lake Gold Project, Newfoundland, Canada (100% Owned)

Defining the Largest Gold Resource in Atlantic Canada

Defining the 100%-Owned Valentine Lake Gold Camp

  • Camp sized 240 sq. km property
  • 30 km of strike along highly prospective gold-bearing fault structure
  • Only 15% of the property has been explored in any detail
  • Year-round road access and proximity to existing power lines

3.2Moz gold resource with significant blue sky potential

  • 2,137,400 oz. of gold at 1.99 g/t Measured & Indicated
  • 1,104,700 oz. of gold at 1.99 g/t Inferred
  • 88% of the resource is in pit shells at a grade of 2 g/t, 97% gold recovery by flotation, no deleterious elements
  • 54% of the 60,000 meter drill program has been reported in 2017

Marathon Team has “Cracked the Geological Model” to Discover High Grade

  • Shallow dipping extensional structures host high grade gold to 1 km+ depth
  • Analogous to the multi-million ounce Sigma-Lamaque Camp in Val d'Or
  • Well-understood geological model enabling highly predictable exploration success

Proven Track Record

  • Highly experienced management team with proven track record of discovering and delineating multimillion ounce deposits

Safe Jurisdiction/Supportive Government

  • Marathon received approximately $150,000 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

  • No environmental red flags identified in 7 years of ongoing studies

Drilling in winter 2018 is continuing to focus on:

  • Exploring for new deposits between the Sprite and Marathon Deposits on the frozen bog
  • Expanding the resources at the Marathon Deposit and the other deposits

Marathon's Catalyst Timeline

  1. Continue to Grow Resource
    • Resource expansion to 2.9Moz (+30% increase since Feb 2017)
    • Existing resources open for further expansion
  2. Define Project Economics
    • Preliminary Economic Assessment (PEA) expected in Q2 2018
    • Subsequent PFS and FS expected to underpin construction decision
  3. Advance to Mine Construction
    • Define well-supported mine development plan
    • Construction by H2 2020


Management and Directors

Phillip Walford, P.Geo., President and Chief Executive Officer, Director

40 years in the mining industry, primarily in mining geology

One of the founders of Marathon PGM in 2003

Has held senior management roles at a number of companies throughout the Americas, including Anaconda Gold, Geomaque Exploration, LAC Minerals, Pamour Porcupine Mines, and Hudson Bay Exploration and Development

Has been involved in over 20 producing mines during his career

Sherry Dunsworth, P.Geo., Senior Vice President of Exploration

Over 35 years in the mining industry

Has held positions with Anaconda Gold and Marathon PGM

Director, Mining Industry Newfoundland and Labrador

Former member of the Mineral Rights Adjudication Board of Newfoundland and Labrador

Former Geoscience Councilor for the Association of Professional Engineers and Geoscientists of Newfoundland and Labrador

Jim Kirke, CA, Chief Financial Officer

Over 15 years involvement in the mining industry

Former CFO of BacTech Mining, Soltoro Ltd. and Golden Odyssey Mining

Robbert Borst, PEA Manager

Over 30 years of experience in operations, engineering, technical consulting services and project management

Most recently – VP of Project Development, Aldridge Minerals where he managed their feasibility study

George D. Faught, Chairman and Director

A Chartered Public Accountant and Chartered Accountant with over 30 years of senior management experience

Joseph G. Spiteri, Director

Douglas H. Bache, Director

Julian Kemp, Director

Janice Stairs, Director

News Update

On May 1, 2018, Marathon Gold Corp. announced that it has established a new mineral resource estimate for the Marathon deposit at its 100-per-cent-owned Valentine Lake property. Marathon Increases overall gold resources to 2,137,400 ounces Measured and Indicated at 1.99 g/t gold and 1,104,700 ounces Inferred at 1.99 g/t gold at the Valentine Lake Gold Camp, Newfoundland.

On April 23, 2018, Marathon Gold Corp. announced new drill results at the Company's 100-per-cent-owned Valentine Lake gold camp, central Newfoundland. All 14 winter 2018 Sprite zone bog drill holes (that is VL-18-257 to VL-18-667) have intersected en-echelon stacked, southwest-dipping QTP-gold veining in an extensive alteration halo.

  • 8.36 g/t Au over 6.0 meters with 15.07 g/t Au over 3.0 meters in VL-18-667
  • 7.12 g/t Au over 4.0 meters with 25.84 g/t Au over 1.0 meter in VL-18-664
  • 1.12 g/t Au over 40.0 meters with 2.76 g/t Au over 5.0 meters in VL-18-664
  • All drill holes encountered more than one zone of QTP/gold mineralization
  • The winter 2018 drilling has added an additional 2-kilometers to the strike length of the mineralized corridor at the Valentine Gold Camp.
  • The 15,900-meter winter drilling campaign is complete with assays pending on 3 Sprite Zone bog drill holes and 6 Marathon Deposit drill holes.
  • The PEA is progressing on schedule with a projected release in mid-May 2018.


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