Highlights of latest assays embrace the next:
- VL-21-1035 intersected 22.97 g/t gold over 6 metres (together with 133.13 g/t over 1 metre); 1.73 g/t over 39 metres (together with 39.51 g/t over 1 metre); 1.51 g/t over 31 metres; and a couple of g/t gold over 15 metres;
- VL-21-1038 intersected 25.38 g/t gold over 4 metres, together with 98.08 g/t over 1 metre;
- VL-21-1030 intersected 2.5 g/t gold over 27 metres, together with 13.9 g/t over 1 metre;
- VL-21-1027 intersected 3.04 g/t gold over 22 metres, together with 11.49 g/t over 2 metres;
- VL-21-1036 intersected 1.54 g/t gold over 33 metres, together with 11.08 g/t over 1 metre; and
- VL-21-1032 intersected 6.07 g/t gold over 8 metres together with 24.38 g/t over 1 metre.
Marathon owns 100% of the Valentine undertaking, which comprises the most important gold useful resource in Atlantic Canada at 4.8 million oz. The measured and indicated useful resource comes to three.1 million oz. in 56.7 million tonnes averaging 1.72 g/t gold, with inferred assets contributing 1.6 million oz. in 29.6 million tonnes grading 1.97 g/t gold.
The March 2021 feasibility research for Valentine foresees an operation with an preliminary capex of C$305 million and a 13-year mine life. Gold may very well be produced at an all-in sustaining price of $833 per oz. The undertaking carries a web current worth (9% low cost) of C$600 million and an after-tax inner price of return of 31.5% utilizing a gold worth of $1,500 per oz.
Marathon plans to start main website works subsequent yr. In response to the feasibility research, about 173,000 oz. of gold could be produced yearly from 2024 by 2033, dropping to 56,000 oz. because the stockpile is handled within the ultimate three years.
(This text first appeared in the Canadian Mining Journal)