TORONTO, Feb. 13 /CNW/ - Marathon PGM Corporation ("Marathon" or "the
Company") is pleased to announce an update on work related to the definitive
feasibility study (DFS) at the Marathon PGM-Cu property and its drilling
campaigns at Marathon and the Bird River Sill. The Marathon campaign has
completed 6 holes to date. The Bird River campaign is planned for 10,000 m of
in-fill and exploration drilling and has completed 7 holes to date. Assays are
currently pending for Bird River and Marathon drill holes. Recent progress on
the DFS has focused on examining efficiencies regarding ore treatment.
Phillip Walford, President and CEO of Marathon stated, "These two
drilling campaigns are about expanding resources. Filling in gaps at Marathon
will improve resource categories as we move towards completion of the DFS. I
am very encouraged by the visual drill results to date on the Ore Fault
Drilling at Marathon started in January and has progressed well as a
total of 6 holes have been completed to date. The focus of drilling is to
close gaps and improve drill density to upgrade resource categories. The
primary goals of improving resource categories and expanding the resource and
incorporating into the DFS will be met. Marathon will have a second drill
starting at the northern end of the Main Zone and onto Benton's ground, in
Bird River Drilling
Initial holes at the Ore Fault North Zone have intersected numerous
intervals of sulphide mineralization within 7 holes completed to date. The
first phase of drilling at the Ore Fault North and South Zones will be
completed soon and the drill will move to the Page Zone, followed by the
Galaxy Zone. Marathon will carry out 8 - 10,000 meters of drilling with the
aim of quickly developing a resource on this property.
"We are challenging the conventional geologic models for the Bird River
Sill and so far, our model is being confirmed by recent drilling and detailed
geophysical surveys" said David Good, P.Geo., VP Exploration.
A test oriented at using high pressure grinding rolls (HPGR) as a
substitute for semi-autogenous (SAG) milling was conducted for Marathon PGM.
These testing showed great promise for efficient crushing and liberation of
the economic minerals. Other added benefits of the HGPR being considered is
that a lead-time of 18 months is lower than nearly 30 months for the SAG mill
and the capital and operating costs are expected to be lower.
All exploration work is being performed under the guidance and
supervision of Phillip C. Walford, P.Geo., President and Chief Executive
Officer of the Marathon. Mr. Walford has approved the contents of this press
(To see a map of the Bird River Project, go to
About Marathon PGM Corporation
Marathon is an emerging Canadian PGM and base metal near-term producer
with significant projected PGM, gold and base metal production. Marathon has
properties at the development and exploration stages in NW Ontario,
southeastern Manitoba and western Newfoundland and Labrador. Marathon's
management plans to build on this focus through the advancement of its
properties, focusing on resource development and by examining other strategic
PGM and base metal opportunities within Canada.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Except for
statements of historical fact relating to the Company, certain information
contained herein constitutes "forward-looking statements". Forward-looking
statements are frequently characterized by words such as "plan," "expect,"
"project," "intend," "believe," "anticipate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made and are subject to a variety of
risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements. These risks and uncertainties include but are not limited to those
identified and reported in Management's Discussion and Analysis for the year
ended December 31, 2006. Circumstances or management's estimates or opinions
could change, and management disclaims any obligation to revise or update
forward-looking statements, whether for new information, future events or
otherwise. The reader is cautioned not to place undue reliance on
On Behalf of Marathon PGM:
"Phillip C. Walford"
Phillip C. Walford, P.Geo.
President, Chief Executive Officer
For further information:
For further information: David Leng, P.Geo: email@example.com, Tel:
(905) 537-5377, Fax: (416) 861-1925