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Marathon Gold drilling hits with Berry step out

Marathon Gold has reported results from the first 10 holes drilled into the new Berry Zone following the restart of operations in June at its Valentine gold project in Newfoundland, Canada.
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Taking samples at Valentine Lake in Newfoundland, Canada

Staff reporter

Highlights included 120m grading 3.33 grams per tonne including 10m grading 11.83g/t in step-out drilling to the southwest and northeast of Berry, which is within a 6km radius between the Leprechaun and Marathon deposits.

"Our 2020 exploration drill programme is focussed on new discovery, with broad step out drilling into areas previously untested,"said Marathon president and CEO Matt Manson.

"When we returned to drilling in early June, we picked up where we had left off with a 32,000m drill plan extending northeast from Berry zone towards the Frozen Ear Pond Road area and ultimately to the limit of the Marathon deposit.

"This is a total strike length of about 3km of exploration potential."

Shares in Marathon Gold opened 8% higher Wednesday at C$2.24, valuing the company at $455 million.