Marathon Gold Corp. on May 31 announced plans for a 60,000-meter drill program focused primarily on the Marathon deposit, which is part of the Valentine Lake gold property in Newfoundland and Labrador.
Three drills have been moved on site, and another will be added in the third quarter.
Marathon President and CEO Phillip Walford said the drill campaign will allow the company to expand the deposit along strike to the southwest and to depth.
The company announced new drill results from the Marathon deposit, with hole MA-17-176 intersecting 118 meters grading 1.56 g/t gold, and including higher grade intervals of 22 meters grading 3.58 g/t gold.
Deeper in the hole, a 15-meter intersection grading 2.73 g/t gold contained 4 meters of 7.28 g/t gold.
Another hole intersected the mineralized corridor at 190 meters and numerous small zones with good grades, including 7 meters grading 4.82 g/t gold and 2 meters grading 11.11 g/t gold.
The program follows the completion of an C$18.6 million bought-deal financing earlier in May.