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VANCOUVER, Feb. 2, 2017 /CNW/ - Marlin Gold Mining Ltd. (TSX-V: MLN) ("Marlin" or the "Company") is pleased to report that its tenth core hole at its wholly owned Commonwealth silver and gold project in Cochise County, Arizona (the "Commonwealth Project" or the "Project") has intersected the highest grade x thickness intercept since modern-era drilling began in 1972.
Hole 17CDDH10 intersected 55 meters of 2.12 g/t gold equivalent using a 160:1 silver to gold ratio (1.32 g/t gold and 128 g/t silver) from 60 to 115 meters, including 26.7 meters of 3.75 g/t gold equivalent (2.4 g/t gold and 217 g/t silver) from 65.3 to 92 meters. True width of the total intercept is estimated to be 33 meters. 17CDDH10 was entirely in oxide mineralization which could potentially be processed using a conventional three-stage crush and agglomeration heap leach process recommended by the April 2014 NI 43-101 Technical Report and Preliminary Economic Assessment. Management uses a 160:1 silver to gold ratio as it attempts to improve the 34% silver recoveries (versus 79% for gold) as estimated by this report.
17CDDH10 intersected the Main Vein at 60 meters from surface, and then cut a secondary mineralized structure below the Main Vein. The drill hole was collared using large diameter PQ core tools which enabled the hole to successfully drill test an area where previous core drilling had failed to test the intensely fractured mineralized zone, and the only prior drill data in the area was from historic reverse circulation drill holes. Click HERE for a cross section that highlights drill hole 17CDDH10.
Akiba Leisman, Executive Chairman and Interim CEO states that, "hole 17CDDH10 speaks for itself. This is the best intersection we have in our drilling database going back nearly 45 years. Our geologic understanding of the Commonwealth Project improves with each drill hole we complete, and we are excited with the results we are starting to see. The primary purpose of this drill program was to validate the previous resource and accumulate enough core material to conduct comprehensive metallurgical testing, but the results we have received from the first ten holes have included positive surprises that we are eager to follow up on. Additional drill rigs are being requisitioned, and these results will be followed up on immediately."
Dr. Matthew D. Gray. C.P.G., of Resource Geosciences Incorporated, a Qualified Person under the definitions of CSA NI 43-101, implemented and supervised industry standard QA/QC protocols for the Commonwealth drill sampling program including insertion of duplicate and reference standard samples. Dr. Gray has verified the reliability of the drill sampling results reported in this press release.
About Marlin Gold
Marlin is a publicly-traded gold and silver mining company with properties located in Sinaloa, Mexico and Arizona, USA. Marlin's priority is to advance its properties toward commercial production and enhance shareholder value through the growth of its wholly owned subsidiary, Sailfish Royalty Corp. The La Trinidad property in Sinaloa, Mexico, declared commercial production on November 1, 2014. A NI 43-101 mineral resource estimate and preliminary economic assessment for the La Trinidad mine and Commonwealth project can be found at www.sedar.com or at www.marlingold.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary statement regarding forward‐looking information
This news release contains 'forward-looking statements' within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, the intended use of proceeds. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on management's expectations and considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: the risk that the anticipated effects of the equity financing may not result in the outcomes predicted by management, uncertainties related to raising sufficient financing to fund planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the Company's current Annual Information Form filed on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. Unless required by law, Marlin has no intention to and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Marlin Gold Mining Ltd.
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For further information: Akiba Leisman, Executive Chairman and Interim CEO, Marlin Gold Mining Ltd., Telephone: 203-862-7059, E-mail: firstname.lastname@example.org