VALENTINE GOLD PROJECT, EXPANDED DRILL PROGRAM 2020-08-24

08/24/2020 (MT Newswires) -- Marathon Gold (MOZ.TO) on Monday said it is expanding its drilling program at the Valentine gold project in Newfoundland, adding 8,000 meters of infill drilling at the site's Berry zone.

The company said the increase comes in advance of an initial mineral resource estimate for the project, expected early in 2021.

"By the end of November we will have drilling information for the first time along the full 6 kilometres of the Sprite Corridor between Leprechaun and Marathon, with at first one, and shortly two, drill rigs working steadily on broad step-out holes along the contact of the Valentine Lake Shear Zone. During the course of this program it has become clear that the new Berry Zone, located centrally within the Sprite Corridor and immediately adjacent to the proposed location of our mill, is standing out as an area of high priority," chief executive Matt Manson said in a release.

Marathon said the C$1.3 million infill program is expected to drill 55 holes. Work will begin immediately.

Marathon shares closed down C$0.10 to C$2.37 Friday on the Toronto Stock Exchange.

Price: 2.3700, Change: -0.1000, Percent Change: -4.05