Marathon Gold Corporation (“Marathon” or the “Company”;
TSX: MOZ) is pleased to report an update to the Mineral
Resource Estimates (“MRE”) for the Valentine Gold Project in
central Newfoundland (the “Project”). The new estimates incorporate
approximately 100,000 metres of drilling completed at the Berry
Deposit and the results of a 2021 Reverse Circulation (“RC”) drill
program completed at the Marathon and Leprechaun Deposits.
Aggregate MRE highlights of the Marathon, Leprechaun, Berry,
Sprite, and Victory Deposits are as follows:
- Total Measured
and Indicated Mineral Resources of 4.0 Moz Au (64.6 Mt at
1.90 g/t Au), increases of +26% in
ounces, +14% in tonnes and +10%
in grade compared to the previous estimate.
- “High Grade”
open-pit Measured and Indicated Mineral Resources (greater than 0.7
g/t Au and designated as direct mill-feed in the Project’s mine
plan) of 3.4 Moz Au (38.6 Mt at 2.73 g/t Au),
increases of +28% in ounces, +22% in
tonnes and +5% in grade compared to the
previous estimate.
- Additional
Inferred Mineral Resources of 1.1 Moz Au (20.8 Mt at 1.65
g/t).
Within the aggregate MRE estimates, the newly
defined Berry Deposit is confirmed as a major new contributor of
Mineral Resources at the Project:
- Berry Measured
and Indicated Mineral Resources of 1.1 Moz Au (17.2 Mt at
1.97 g/t Au).
- Additional
Berry Inferred Mineral Resources of 0.25 Moz Au (5.33 Mt at
1.49 g/t Au).
Mineral resources which are not mineral reserves
do not have demonstrated economic viability.
Figure 1: Growth in Total
Measured and Indicated Mineral Resources, Valentine Gold Project,
2017-2022 (Millions of ounces Au; See “Note on Historical
Disclosure of Mineral
Resources”)https://www.globenewswire.com/NewsRoom/AttachmentNg/7bb97323-8942-4dc9-8411-6a1060753e49
Matt Manson, President and CEO, commented: “This
updated Mineral Resource Estimate is the largest in quantity, the
highest in grade, and the best in quality that has ever been
produced for the Valentine Gold Project. It incorporates two years
of exploration drilling at the Berry Deposit, which is now
confirmed to be comparable in scale and gold content to the nearby
Leprechaun Deposit. As a reminder, Berry is located immediately
adjacent to the proposed site of the Project’s gold mill. The new
estimate also incorporates, and is successfully validated by, the
results of our 2021 RC drill program, where we set out to test our
assumptions about the scale and continuity of the gold
mineralization at Valentine. As well as the new drilling datasets,
the 2022 MRE benefits from new geological models, updated gold
price and exchange rate assumptions, updated estimates for mining
and processing costs, and new Whittle pit shells.”
Matt Manson continued: “The assessment work now
completed on the Project’s Mineral Resources is comprehensive, and
has been conducted with a view to achieving the maximum possible
confidence in the investment merits of the Project prior to
breaking ground. As we have done this, the Project has continued to
grow through our ongoing exploration efforts. In parallel with our
permitting and engineering work, therefore, a study is underway to
consider the opportunities offered by the 2022 MRE on the Project’s
Mineral Reserves, production profile and mine life. The results of
this study will be incorporated into a new National Instrument
43-101 Technical Report, which will constitute an Updated
Feasibility Study for the Valentine Gold Project. This work is on
schedule for completion in the fourth quarter of this year.”
The Company’s management team will host a
technical session with Q&A via video webcast today, July 6
2022, at 10 am EST, to provide an update on the updated MRE and
ongoing mine planning and engineering work. Participants may
register for the webcast at
https://globalmeet.webcasts.com/starthere.jsp?ei=1558171&tp_key=22f9700c86.
An archive will be available following the session at
www.marathon-gold.com.
Figure 2: Location Map and gold deposits
included in the updated MRE, Valentine Gold
Projecthttps://www.globenewswire.com/NewsRoom/AttachmentNg/87a273bc-c2cb-4774-99f7-fa13a149f84c
Valentine Gold Project Mineral Resource
Estimate
The updated Valentine Gold Project MRE was
prepared by John T. Boyd Company. Roy Eccles P. Geol. of APEX
Geoscience Ltd. and a member of PEGNL has reviewed and takes
responsibility for the updated MRE. Estimates for the Marathon,
Leprechaun and Berry Deposits are effective as of June 15, 2022.
Estimates for the Victory and Sprite Deposits remain unchanged. All
estimates utilize Canadian Institute of Mining, Metallurgy and
Petroleum (CIM) Definition Standards on Mineral Resources and
Reserves (2014).
Table 1: Total Measured and Indicated Mineral
Resources, by Deposit
|
Category |
Tonnes (Mt) |
Grade (g/t Au) |
Oz (Moz Au) |
|
|
|
|
|
|
|
|
Marathon |
Measured |
15.10 |
-37% |
1.90 |
+12% |
0.92 |
-29% |
|
Indicated |
14.99 |
+9% |
1.61 |
+9% |
0.78 |
+18% |
|
Total M&I |
30.09 |
-20% |
1.76 |
+9% |
1.70 |
-13% |
|
|
|
|
|
|
|
|
Leprechaun |
Measured |
7.37 |
-14% |
2.56 |
+15% |
0.61 |
-1% |
|
Indicated |
8.22 |
-3% |
1.78 |
+3% |
0.47 |
+0% |
|
Total M&I |
15.59 |
-9% |
2.15 |
+9% |
1.08 |
-1% |
|
|
|
|
|
|
|
|
Berry |
Measured |
6.75 |
n/a |
2.42 |
n/a |
0.53 |
n/a |
|
Indicated |
10.41 |
n/a |
1.67 |
n/a |
0.56 |
n/a |
|
Total M&I |
17.16 |
n/a |
1.97 |
n/a |
1.09 |
n/a |
|
|
|
|
|
|
|
|
Victory |
Measured |
- |
- |
- |
- |
- |
- |
|
Indicated |
1.09 |
- |
1.46 |
- |
0.05 |
- |
|
Total M&I |
1.09 |
- |
1.46 |
- |
0.05 |
- |
|
|
|
|
|
|
|
|
Sprite |
Measured |
- |
- |
- |
- |
- |
- |
|
Indicated |
0.70 |
- |
1.74 |
- |
0.04 |
- |
|
Total M&I |
0.70 |
- |
1.74 |
- |
0.04 |
- |
|
|
|
|
|
|
|
|
All Deposits |
Measured |
29.23 |
-10% |
2.19 |
+20% |
2.06 |
+7% |
|
Indicated |
35.40 |
+47% |
1.67 |
+6% |
1.90 |
+56% |
|
Total M&I |
64.62 |
+14% |
1.90 |
+10% |
3.96 |
+26% |
Changes from the November 2020 (Marathon Leprechaun, Victory and
Sprite) & April 2021 (Berry) Estimates shown in italics. Totals
may not add due to rounding. Mineral Resources which are not
Mineral Reserves do not have demonstrated economic viability.
Table 2: Total Inferred Mineral Resources, by
Deposit
|
Category |
Tonnes (Mt) |
Grade (g/t Au) |
Oz (Moz Au) |
|
|
|
|
|
|
|
|
Marathon |
Inferred |
6.98 |
-40% |
2.02 |
+9% |
0.45 |
-35% |
|
|
|
|
|
|
|
|
Leprechaun |
Inferred |
4.86 |
+62% |
1.58 |
-4% |
0.25 |
+56% |
|
|
|
|
|
|
|
|
Berry |
Inferred |
5.33 |
-53% |
1.49 |
-15% |
0.25 |
-60% |
|
|
|
|
|
|
|
|
Victory |
Inferred |
2.33 |
- |
1.26 |
- |
0.09 |
- |
|
|
|
|
|
|
|
|
Sprite |
Inferred |
1.25 |
- |
1.26 |
- |
0.05 |
- |
|
|
|
|
|
|
|
|
All Deposits |
Inferred |
20.75 |
-30% |
1.65 |
-4% |
1.10 |
-33% |
Changes from the November 2020 (Marathon Leprechaun, Victory and
Sprite) & April 2021 (Berry) Estimates shown in italics. Totals
may not add due to rounding. Mineral Resources which are not
Mineral Reserves do not have demonstrated economic viability.
Table 3: Measured and Indicated
Mineral Resources by Type
|
Open Pit |
|
Underground |
|
Total |
Category |
Tonnes(Mt) |
Grade(g/t Au) |
Oz(Moz Au) |
|
Tonnes(Mt) |
Grade(g/t Au) |
Oz(Moz Au) |
|
Tonnes(Mt) |
Grade(g/t Au) |
Oz(Moz Au) |
High Grade |
Measured |
18.4 |
-1% |
3.13 |
+13% |
1.85 |
+12% |
|
0.4 |
-25% |
4.06 |
+0% |
0.05 |
-25% |
|
18.7 |
-1% |
3.15 |
+12% |
1.90 |
+11% |
Indicated |
20.3 |
+55% |
2.38 |
+0% |
1.55 |
+56% |
|
1.3 |
+101% |
3.28 |
-0% |
0.14 |
+101% |
|
21.6 |
+58% |
2.43 |
+1% |
1.69 |
+59% |
Total M&I |
38.6 |
+22% |
2.73 |
+5% |
3.39 |
+28% |
|
1.7 |
+46% |
3.45 |
-5% |
0.19 |
+39% |
|
40.3 |
+23% |
2.76 |
+5% |
3.58 |
+29% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Low Grade |
Measured |
10.5 |
-23% |
0.48 |
+3% |
0.16 |
-21% |
|
- |
|
- |
|
- |
|
|
10.5 |
-23% |
0.48 |
+3% |
0.16 |
-21% |
Indicated |
13.8 |
+33% |
0.47 |
+2% |
0.21 |
+36% |
|
- |
|
- |
|
- |
|
|
13.8 |
+33% |
0.47 |
+2% |
0.21 |
+36% |
Total M&I |
24.3 |
+2% |
0.48 |
+2% |
0.37 |
+4% |
|
- |
|
- |
|
- |
|
|
24.3 |
+2% |
0.48 |
+2% |
0.37 |
+4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total M&I |
Measured |
28.8 |
-10% |
2.17 |
+21% |
2.01 |
+8% |
|
0.4 |
-25% |
4.06 |
+0% |
0.05 |
-25% |
|
29.2 |
-10% |
2.19 |
+20% |
2.06 |
+7% |
Indicated |
34.1 |
+46% |
1.60 |
+5% |
1.76 |
+53% |
|
1.3 |
+101% |
3.28 |
-0% |
0.14 |
+101% |
|
35.4 |
+47% |
1.67 |
+6% |
1.90 |
+56% |
Total M&I |
62.9 |
+13% |
1.86 |
+11% |
3.77 |
+25% |
|
1.7 |
+46% |
3.45 |
-5% |
0.19 |
+39% |
|
64.6 |
+14% |
1.90 |
+10% |
3.96 |
+26% |
Changes from the November 2020 (Marathon Leprechaun, Victory and
Sprite) & April 2021 (Berry) Estimates shown in italics. Totals
may not add due to rounding. Mineral Resources which are not
Mineral Reserves do not have demonstrated economic viability.
Table 4: Inferred Mineral
Resources by Type
|
Open Pit |
|
Underground |
|
Total |
Category |
Tonnes(Mt) |
Grade(g/t Au) |
Oz(Moz Au) |
|
Tonnes(Mt) |
Grade(g/t Au) |
Oz(Moz Au) |
|
Tonnes(Mt) |
Grade(g/t Au) |
Oz(Moz Au) |
High Grade |
Inferred |
8.6 |
-39% |
2.24 |
-9% |
0.62 |
-44% |
|
3.2 |
+5% |
3.38 |
-2% |
0.35 |
+3% |
|
11.8 |
-31% |
2.55 |
-3% |
0.97 |
-33% |
Low Grade |
Inferred |
8.9 |
-28% |
0.45 |
-2% |
0.13 |
-29% |
|
- |
|
- |
|
- |
|
|
8.9 |
-28% |
0.45 |
-2% |
0.13 |
-29% |
Total Inferred |
Inferred |
17.5 |
-34% |
1.33 |
-12% |
0.75 |
-42% |
|
3.2 |
+5% |
3.38 |
-2% |
0.35 |
+3% |
|
20.8 |
-30% |
1.65 |
-4% |
1.10 |
-33% |
Changes from the November 2020 (Marathon Leprechaun, Victory and
Sprite) & April 2021 (Berry) Estimates shown in italics. Totals
may not add due to rounding. Mineral Resources which are not
Mineral Reserves do not have demonstrated economic viability.
Notes to the Mineral
Resources
The current Valentine Gold Project Mineral
Resource estimate is based on a total database of over 380,840
metres drilled and 263,646 assays, approximately 21% of which have
been processed by metallic screen fire assay. Bulk densities
assigned to the Quartz-Tourmaline-Pyrite-Vein domain (“QTPV”) range
from 2.59 t/m3 and 2.69 t/m3, dependent on the deposit. Open-pit
Mineral Resources have been determined by the Whittle method based
on an estimate of their reasonable prospects for economic
extraction, using certain assumptions for gold recovery, costs for
mining, processing and sale, a US$1,800/oz gold price, and a
USD$:CAD$ exchange of 0.78. All in-pit Mineral Resources apply a
pit discard cut-off grade of 0.30 g/t Au. Additional underground
Mineral Resources are defined as material outside of the Whittle
pit shell at a cut-off of 1.4 g/t Au. The reader is reminded that
Mineral Resources which are not Mineral Reserves do not have
demonstrated economic viability. The quantity and grade of reported
Inferred Mineral Resources in this estimation are conceptual in
nature and there has been insufficient exploration to define these
Inferred resources as an Indicated or Measured Mineral Resource and
it is uncertain if further exploration will result in upgrading
them to an Indicated or Measured Mineral Resource category. The
estimate of Mineral Resources may be materially affected by
environmental, permitting, legal, title, socio-political,
marketing, or other relevant issues including risks set forth in
Marathon’s Annual Information Form for the year ended December 31,
2021 and other filings made with Canadian securities regulatory
authorities and available at www.sedar.com.
Mineral Resources by Type
In the April 2021 Feasibility Study and mine
plan, open-pit Mineral Resources above a cut-off grade of 0.7 g/t
Au are characterized as “high-grade” to be processed as priority
mill-feed. Open-pit Mineral Resources between cut-off grades of 0.3
g/t Au and 0.7 g/t Au are characterized as “low-grade” for
stockpiling and potential processing later in the mine life.
The 2022 MRE shows a significant increase in the
quantity of Measured and Indicated Mineral Resources classified as
open-pit and high-grade, being +28% in ounces,
+22% in tonnes and +5% in grade
(Table 3). The proportion of high-grade to low-grade open-pit
Mineral Resources has also improved considerably, yielding a higher
overall grade increase for open-pit Measured and Indicated Mineral
Resources of 1.86 g/t Au, an +11% increase
compared to the previous estimate. This is a result of the approach
taken to restrict the volume of mineralized domains in the
modelling of each deposit (see below), which has had the effect of
restricting the quantity of peripheral, lower grade blocks compared
to the more centrally located, higher grade blocks.
Geological Models and Resource
Estimation Methodology
Revised geological models were developed within
the updated MRE through modelling of logged drillhole data for each
of the Marathon, Leprechaun and Berry Deposits. Wireframed domains
were created for each geological unit, including the QTPV domain,
the principal host of mineralization at the Project, and the Mafic
Dyke domain, an important control on the distribution of
mineralization. A block model was estimated with a 2 x 2 x 2 metre
minimum block size within the QTPV domain with 1 metre composites
and the ID3 method for grade estimation. Search ellipsoids were
determined for each domain by variography, and oriented in the
plane of dominantly southwest dipping “Set 1” extensional veins,
the principal source of gold mineralization at the Project, using
televiewer structural data and dynamic anisotropy. A block size of
6 x 6 x 6 metres was used outside the QTPV domain with a limited
search and restrictive classification criteria.
Blocks were classified according to domain,
number of holes used to estimate grade, and distance to the closest
drill hole:
- Measured
Mineral Resources require a minimum of three drill holes on the
first pass and to be less than 12 metres to the nearest hole.
- Indicated
Mineral Resources require at least two drill holes on the first or
second pass and must be less than 40 metres to the nearest
hole.
- Inferred
Mineral Resources represent all other blocks with gold grades.
95% of the contained metal classified as
Measured and Indicated Mineral Resources is located inside the QTPV
domains, and as such were restricted in volume, notwithstanding the
search parameters of the estimation process. A small portion of the
metal classified as Indicated Mineral Resources, and 24% of the
metal classified as Inferred Mineral Resources, is located outside
the QTPV domains, and was estimated with an unconstrained model
designed to capture isolated mineralized veins not incorporated
within the QTPV wireframing.
Figure 3: Geological Models for
the Leprechaun, Berry and Marathon Deposits. View
SEhttps://www.globenewswire.com/NewsRoom/AttachmentNg/0f2ad468-655a-4308-a754-8227069299e7
QTPV (yellow), Mafic Dyke (green), Footwall
Sediments (brown). Assays on individual drill holes are illustrated
at >0.3 g/t Au.
Grade caps were primarily determined for each
domain using cumulative frequency (“lognormal”) probability plot.
Outlier grade caps were applied to remove extremely high-grade
samples, and mid-range grades were restricted in areal influence of
approximately 12 x 12 metres, representing two 6 metre mining
blocks for the Project. This “hybrid” capping approach resulted in
block models with between 89% and 93% of the metal content compared
to the uncapped models.
Whittle Pit Shells and Underground
Mineral Resources
Mineral Resource pit shells were determined by
the Whittle method utilizing a US$1800/oz gold price, a USD$:CAD$
exchange of 0.78, open-pit ore and waste mining costs of
C$3.80/tonne and C$2.70/tonne respectively, ore processing costs of
C$15.20/tonne, G&A costs of C$5.30/tonne processed, and a
C$5/ounce selling cost. Gold recoveries were estimated based on a
grade recovery curve, resulting in a recovery at 93.9% at the
cut-off grade and capped at 96.5% at higher grades. Underground
Mineral Resources located outside the Whittle pit shells were
estimated based underground mining costs of C$75/tonne and a bottom
cut-off of 1.4 g/t Au.
Next Steps
The 2022 MRE is now being incorporated into an
updated mining study for the Project which will assess its impact
on Mineral Reserves and present an optimised gold production
profile. This mining study will comprise an Updated Feasibility
Study to be disclosed by way of a National Instrument 43-101
Technical Report (the “Updated FS”). The Updated FS is on schedule
for completion in the fourth quarter of this year. In addition to
an updated Mineral Reserve, production schedule and mine plan, the
Updated FS will contain an updated estimate of capital and
operating costs, and as such will comprise the control budget and
schedule for the construction of the Project. The Updated FS will
not include any changes to the Project’s mill flow sheet or
processing strategy, any changes to the Projects Tailings
Management Facility design, its camp, its major facilities, its
road and power infrastructure, or the site’s overall footprint.
Site early works are scheduled to commence at
the Project in the third quarter of this year, subject to release
from the Project’s ongoing federal Environmental Assessment and the
receipt of applicable permits.
Qualified Persons
Disclosure of a scientific or technical nature
in this news release was prepared under the supervision of Mr.
David Ross, P.Geo. (Ont), Director of Mineral Resources for
Marathon Gold Corporation and Mr. Roy Eccles, P. Geo. (PEGNL), of
APEX Geoscience Ltd. Mr. Eccles is a Qualified Person for purposes
of NI 43-101, is independent of Marathon and the Valentine Gold
Project, and has reviewed and takes responsibility for the updated
2022 MRE prepared by John T. Boyd Company.
Exploration data quality assurance and control
for Marathon is under the supervision of Jessica Borysenko, P. Geo
(NL), GIS Manager for Marathon. Marathon’s exploration drill
programs are managed by Nic Capps, P. Geo. (NL), Exploration
Manager for Marathon Gold Corporation. Mr. Ross, Ms. Borysenko, and
Mr. Capps are qualified persons under National Instrument (“NI”)
43-101.
About Marathon
Marathon (TSX:MOZ) is a Toronto based gold
company advancing its 100%-owned Valentine Gold Project located in
the central region of Newfoundland and Labrador, one of the top
mining jurisdictions in the world. The Project comprises a
series of five mineralized deposits along a 20-kilometre system. An
April 2021 Feasibility Study outlined an open-pit mining and
conventional milling operation over a thirteen-year mine life with
a 31.5% after-tax rate of return. The Project has estimated Proven
Mineral Reserves of 1.40 Moz (29.68 Mt at 1.46 g/t) and Probable
Mineral Reserves of 0.65 Moz (17.38 Mt at 1.17 g/t). Please see
Marathon’s Annual Information Form for the year ended December 31,
2021 and other filings made with Canadian securities regulatory
authorities and available at www.sedar.com for further details and
assumptions relating to the Valentine Gold Project.
For more information, please
contact:
Amanda MalloughSenior Associate, Investor RelationsTel: 416
855-8202amallough@marathon-gold.com |
Matt MansonPresident & CEOmmanson@marathon-gold.com |
Julie RobertsonCFOjrobertson@marathon-gold.com |
To find out more information on Marathon Gold
Corporation and the Valentine Gold Project, please visit
www.marathon-gold.com.
Note on Historical Disclosure of Mineral
Resources
Effective February 16, 2017, Technical Report
Dated March 28, 2017: Measured Mineral Resources of 5.3 Mt at 1.97
g/t Au for 0.34 Moz; Indicated Mineral Resources of 17.3 Mt at 1.90
g/t Au for 1.05 Moz Au; Inferred Mineral Resources of 10.7 Mt at
2.24 g/t Au for 0.77 Moz Au.
Effective November 27, 2017, Technical Report
Dated January 4, 2018: Measured Mineral Resources of 13.5 Mt at
2.14 g/t Au for 0.93 Moz Au; Indicated Mineral Resources of 17.0 Mt
at 1.68 g/t Au for 0.92 Moz Au; Inferred Mineral Resources of 19.0
Mt at 1.65 g/t Au for 1.01 Moz Au.
Effective Dates November 27, 2017 and March 5,
2018 Technical Report Dated May 28, 2018: Measured Mineral
Resources of 13.9 Mt at 2.25 g/t Au for 1.00 Moz Au; Indicated
Mineral Resources of 19.5 Mt at 1.81 g/t Au for 1.13 Moz Au;
Inferred Mineral Resources of 17.3 Mt at 1.99 g/t Au for 1.10 Moz
Au.
Effective Dates November 27, 2017, October 5,
2018 and October 9, 2018, Technical Report Dated October 30 2018:
Measured Mineral Resources of 16.6 Mt at 2.18 g/t Au for 1.17 Moz
Au; Indicated Mineral Resources of 28.5 Mt at 1.66 g/t Au for 1.53
Moz Au; Inferred Mineral Resources of 26.9 Mt at 1.77 g/t Au for
1.53 Moz Au.
Effective Date January 10, 2020, Technical
Report Dated April 21, 2020: Measured Mineral Resources of 31.69 Mt
at 1.86 g/t Au for 1.90 Moz Au; Indicated Mineral Resources of
23.17 Mt at 1.60 g/t Au for 1.19 Moz Au; Inferred Mineral Resources
of 16.77 Mt at 1.78 g/t Au for 0.96 Moz Au.
Effective Date November 20, 2020 and April 15,
2021, Technical Report Dated April 23, 2021: Measured Mineral
Resources of 32.59 Mt at 1.83 g/t Au for 1.92 Moz Au; Indicated
Mineral Resources of 24.07 Mt at 1.57 g/t Au for 1.22 Moz Au;
Inferred Mineral Resources 29.59 Mt at 1.72 g/t Au for 1.64 Moz
Au.
Cautionary Statement Regarding
Forward-Looking Information
Certain information contained in this news
release, constitutes forward-looking information within the meaning
of Canadian securities laws (“forward-looking statements”). All
statements in this news release, other than statements of
historical fact, which address events, results, outcomes or
developments that Marathon expects to occur are forward-looking
statements. Forward-looking statements include statements that are
predictive in nature, depend upon or refer to future events or
conditions, or include words such as “expects”, “anticipates”,
“plans”, “believes”, “estimates”, “considers”, “intends”,
“targets”, or negative versions thereof and other similar
expressions, or future or conditional verbs such as “may”, “will”,
“should”, “would” and “could”. We provide forward-looking
statements for the purpose of conveying information about our
current expectations and plans relating to the future, and readers
are cautioned that such statements may not be appropriate for other
purposes. More particularly and without restriction, this news
release contains forward-looking statements and information about
the FS and the results therefrom (including IRR, NPV5%, Capex, FCF,
AISC and other financial metrics), the realization of mineral
reserve and mineral resource estimates, the future financial or
operating performance of the Company and the Project, capital and
operating costs, the ability of the Company to obtain all
government approvals, permits and third-party consents in
connection with the Company’s exploration, development and
operating activities, the potential impact of COVID-19 on the
Company, the Company’s ability to successfully advance the Project
and anticipated benefits thereof, economic analyses for the
Valentine Gold Project, processing and recovery estimates and
strategies, future exploration and mine plans, objectives and
expectations and corporate planning of Marathon, future
environmental impact statements and the timetable for completion
and content thereof and statements as to management's expectations
with respect to, among other things, the matters and activities
contemplated in this news release.
Forward-looking statements involve known and
unknown risks, uncertainties and assumptions and accordingly,
actual results and future events could differ materially from those
expressed or implied in such statements. You are hence cautioned
not to place undue reliance on forward-looking statements. In
respect of the forward-looking statements concerning the
interpretation of exploration results and the impact on the
Project’s mineral resource estimate, the Company has provided such
statements in reliance on certain assumptions it believes are
reasonable at this time, including assumptions as to the continuity
of mineralization between drill holes. A mineral resource that is
classified as “inferred” or “indicated” has a great amount of
uncertainty as to its existence and economic and legal feasibility.
It cannot be assumed that any or part of an “indicated mineral
resource” or “inferred mineral resource” will ever be upgraded to a
higher category of mineral resource. Investors are cautioned not to
assume that all or any part of mineral deposits in these categories
will ever be converted into proven and probable mineral
reserves.
By its nature, this information is subject to
inherent risks and uncertainties that may be general or specific
and which give rise to the possibility that expectations,
forecasts, predictions, projections or conclusions will not prove
to be accurate, that assumptions may not be correct and that
objectives, strategic goals and priorities will not be achieved.
Factors that could cause future results or events to differ
materially from current expectations expressed or implied by the
forward-looking statements include risks and uncertainties relating
to the interpretation of drill results, the geology, grade and
continuity of mineral deposits and conclusions of economic
evaluations; uncertainty as to estimation of mineral resources;
inaccurate geological and metallurgical assumptions (including with
respect to the size, grade and recoverability of mineral
resources); the potential for delays or changes in plans in
exploration or development projects or capital expenditures, or the
completion of feasibility studies due to changes in logistical,
technical or other factors; the possibility that future
exploration, development, construction or mining results will not
be consistent with the Company’s expectations; risks related to the
ability of the current exploration program to identify and expand
mineral resources; risks relating to possible variations in grade,
planned mining dilution and ore loss, or recovery rates and changes
in project parameters as plans continue to be refined; operational
mining and development risks, including risks related to accidents,
equipment breakdowns, labour disputes (including work stoppages and
strikes) or other unanticipated difficulties with or interruptions
in exploration and development; risks related to the inherent
uncertainty of production and cost estimates and the potential for
unexpected costs and expenses; risks related to commodity and power
prices, foreign exchange rate fluctuations and changes in interest
rates; the uncertainty of profitability based upon the cyclical
nature of the mining industry; risks related to failure to obtain
adequate financing on a timely basis and on acceptable terms or
delays in obtaining governmental or other stakeholder approvals or
in the completion of development or construction activities; risks
related to environmental regulation and liability, government
regulation and permitting; risks relating to the Company’s ability
to attract and retain skilled staff; risks relating to the timing
of the receipt of regulatory and governmental approvals for
continued operations and future development projects; political and
regulatory risks associated with mining and exploration; risks
relating to the potential impacts of the COVID-19 pandemic on the
Company and the mining industry; changes in general economic
conditions or conditions in the financial markets; and other risks
described in Marathon’s documents filed with Canadian securities
regulatory authorities, including the Annual Information Form for
the year ended December 31, 2021.
You can find further information with respect to
these and other risks in Marathon’s Annual Information Form for the
year ended December 31, 2021 and other filings made with Canadian
securities regulatory authorities available at www.sedar.com. Other
than as specifically required by law, Marathon undertakes no
obligation to update any forward-looking statement to reflect
events or circumstances after the date on which such statement is
made, or to reflect the occurrence of unanticipated events, whether
as a result of new information, future events or results
otherwise.
Marathon Gold (TSX:MOZ)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024
Marathon Gold (TSX:MOZ)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024