Marathon announces 20 m of 23.4 g/t PGM and gold and 0.28% copper 700 m north of Malachite high grade mineralization

    TORONTO, April 19 /CNW Telbec/ - Marathon PGM Corporation (MAR :TSX)
("Marathon" or the "Company") is pleased to announce the results from 12 drill
holes (5 in the Malachite Area (Please click here to view Drill Plan and
Geology Malachite Zone:, 3
in the Main Zone, 2 in the Southern Resource Area and 2 in the area between
the Southern Resource and Malachite Areas). Drill hole M-07-300 was drilled in
the main zone for metallurgical testing as part of a definitive feasibility
study that is currently underway (Please click here to view Drill Plan:
    Mr. Walford, President and Chief Executive Officer, noted, "This fourth
drill discovery of high-grade mineralization is a remarkable development. This
establishes positively that there are shoots of high-grade of mineralization
over a surface strike length of 1,000 meters and this has certainly validated
both the drilling and exploration models developed by Dr. David Good, Sherry
Dunsworth and the exploration team."
    Marathon recently reconfigured the interpretation of the BR, W, RD and
Southern Resource mineralized zones as recent drilling has shown that they
apparently form a nearly continuous package of mineralization. Marathon will
refer to the mineralization as belonging to either W (high grade or PGM
enriched) or FW (Main zone type) zones. The old RD, BR and Malachite zones are
now referred to as the Malachite Area and the Southern Resource zone is
referred to as the Southern Resource Area. Thus Marathon will have the W zone
in the Southern Resource, which is interpreted to be the same stratigraphic
horizon as the W zone found in the Malachite area.
    Hole M-07-306 contains 20 m of 23.4 g/t PGM and gold and 0.28% copper
including 8 m of 55.4 g/t PGM and gold and 0.59% copper. The assays of this
intersection far exceed the exceptional values obtained in holes M-07-237 and
M-07-239 as previously reported in the Company's press release dated February
16, 2007, and now stands as the richest intersection for its length ever
recorded in the Coldwell complex. Hole M-07-306 is located in the Southern
Resource Area approximately 700 m north of the Malachite Area. The hole was
drilled to test an IP geophysical anomaly located between 150 m and 200 m
depth that was identified by the Insight Array technique.
    Much of the terrain between the Southern Resource and the Malachite areas
is open for exploration and Marathon believes there is a high probability of
finding additional high grade material. The outstanding results found in drill
holes M-07-306, M-07-307, M-07-309 and M-07-310 support this concept. Drill
holes M-07-307 and M-07-310 contain greater than 2.6 g/t PGM and gold over 14
and 6 meters, respectively. Drill hole M-07-309 successfully tested the down
dip extension of the FW zone in the Southern Resource area. Because of this
early success, Marathon intends to focus on this area in May after the spring
thaw when access has improved.
    Holes M-07-301 and M-07-303 are infill holes within the Main Zone. They
both intersected mineralization that is approximately 40-75% thicker than was
predicted by the modeling that was used to calculate the mineral resource.
Marathon will continue the infill and exploration drilling program in the Main
zone when the drill returns from the WD zone in May. The Company's goal is to
extend the Main zone south and west and perhaps merge with the Southern
Resource Area.
    Holes M-07-299, M-07-302 and M-07-304 were infill holes at the south end
of the Malachite Area. Hole M-07-304 intersected the W zone and intersected
20.2 g/t PGM and gold and 0.14% copper over 10 m, which is similar to other
intersections in the W zone. At the south end of the Malachite Area, the W and
FW zones merge so that intersections are thicker but PGM grades are lower as
shown by the 22 m intersection from 114 to 136m in hole M-07-302 and the 54 m
thick intersection in hole M-07-299. A higher grade intersection in hole
M-07-302 occurs from 78 to 100 m and contains 3.53 g/t PGM and gold.

                                    True                          gold
                  From   To Width  Width    Pd    Pt    Au    Rh   +Au    Cu
    Hole     Zone   (m)  (m)   (m)    (m) (g/t) (g/t) (g/t) (g/t) (g/t)   (%)
    M-07-299 W-FW  142  196    54     50  0.41  0.21  0.08    tr  0.70  0.13
    M-07-300 Main    entire hole used for metallurgical testing
    M-07-301 Main  112  200    88     88  0.76  0.24  0.09    tr  1.09  0.38
    M-07-302    W   78  100    22     22  2.58  0.80  0.15    tr  3.53  0.10
    includes        90   94     4      4 10.44  2.58  0.45    tr 13.47  0.12
    M-07-302 W-FW  114  136    22     22  0.52  0.26  0.13    tr  0.91  0.13
    M-07-303 Main   66  146    80     80  0.79  0.25  0.07    tr  1.11  0.29
    M-07-304    W    6   34    28     28  6.24  1.86  0.38  0.01  8.49  0.14
    includes         6   16    10     10 15.02  4.35  0.84  0.03 20.24  0.22
    M-07-305    W   64   86    22     21  0.26  0.13  0.06    tr  0.45  0.10
    M-07-306    W  150  170    20     20 17.55  4.94  0.92  0.03 23.44  0.28
    includes       150  158     8      8 41.55 11.80  2.00  0.06 55.41  0.59
    M-07-306       200  206     6      6  0.88  0.27  0.09    tr  1.24  0.36
    M-07-307    W   53   67    14     12  1.80  0.81  0.11    tr  2.72  0.04
    includes        53   59     6    5.1  3.38  1.62  0.24    tr  5.24  0.08
    M-07-307    W   85   99    14     12  0.43  0.24  0.07    tr  0.74  0.06
    M-07-308    W    no significant values
    M-07-309   FW  126  180    54     52  0.34  0.13  0.04    tr  0.51  0.18
    M-07-310    W   54   60     6      6  2.03  0.60  0.02    tr  2.65  0.01

    As a part of Marathon's QC program, the high-grade samples were analyzed
multiple times in order to confirm the high grades. All of the samples were
sent to Accurassay, an accredited laboratory in Thunder Bay, Ont., to be
assayed using fire assay and other standard techniques.
    All exploration work is being performed under the guidance and
supervision of Phillip C. Walford, President and Chief Executive Officer of
the Company, a professional geologist and Qualified Person as defined by
National Instrument 43-101. Mr. Walford has approved the contents of this
press release.

    About the Marathon PGM - Cu Project

    The Company has a 100% interest in the Marathon PGM - Cu Project, located
about 10km north of Marathon, Ontario. As announced previously, the Company
has completed a revised Preliminary Economic Assessment in compliance with the
provisions of National Instrument 43-101, showing a potentially mineable
resource of 39.2 million tonnes of measured resource containing 1.6 million oz
of PGM and gold and 285 million lbs of copper. The indicated resource of
28.9 million tonnes contains 1.1 million oz of PGM and gold and 178 million
lbs of copper. An additional low grade resource was also identified in the
report completed by P&E Mining Consultants Inc. and filed on Sedar on April 5,

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
forward-looking statements.

    The Toronto Stock Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

    On Behalf of Marathon PGM:
    "Phillip C. Walford"
    Phillip C. Walford, P.Geo.
    President, Chief Executive Officer
    Tel: +1.416.987.0711

For further information:

For further information: David Leng, P.Geo,, (905)
537-5377, Fax: (416) 861-1925,; For media inquiries,
please contact: Vanessa Napoli, (514) 939.3989,

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890