Marathon Cuts Best High-Grade Sulphide Zone at Ore Fault: 19.7m grading 4.61% Zn, 0.74% Cu, and 51.1g/t Ag

    TORONTO, March 25 /CNW/ - Phillip Walford, President and CEO of Marathon
PGM Corporation ("Marathon")(TSX:MAR) is pleased to report assay results from
three holes drilled at the Ore Fault North Zone. The drilling is designed to
test continuity of PGM and base metal mineralization as part of resource
    "This is an exciting time for Marathon shareholders," stated Phillip
Walford, President and CEO. "The Ore Fault Property results are exceeding
expectations and the flagship Marathon deposit is yielding excellent drilling
results as the feasibility study progresses. We now have two outstanding
projects on our hands."


    -   two distinct zones have been identified at the Ore Fault North Zone -
        an upper zone of Nickel, Copper and PGM (Ni-Cu-PGM) and a lower zone
        of Zinc, Copper and Silver (Zn-Cu-Ag)
    -   19.7m intersection of the lower Zn-Cu-Ag zone grading 4.61% Zn, 0.74%
        Cu, 51.1g/t Ag and 0.15g/t PGM and Au within a semi-massive sulphide
        lens in hole MF0807 located 100m south of historic hole 24 with 13.3m
        grading 0.7% Cu, 3.98% Zn and 40g/t Ag leaving the 10-20 m wide Zn-
        Cu-Ag zone open along strike and down dip
    -   the lower Zn-Cu-Ag zone has been traced for 300 m along strike by
        drilling and 500 m along strike by a new ground IP survey and is
        still open beyond the limits of the IP survey
    -   10.5 m intersection of the Ni-Cu-PGM zone grading 0.53% Ni, 0.42% of
        Cu, 20.4g/t Ag and 1.20g/t PGM plus Au within a sulphide zone above
        the Zn-Cu-Ag intersection in hole MF0807 in keeping with previous

    Holes MF0803 and MF0807 are located 130 and 80-m south, respectively, of
historic hole 24, which contains multiple lenses with similar grades and
thicknesses of Ni-Cu and Zn-Cu-Ag sulphide mineralization. Hole 24 is the
northern most hole drilled in the lower Zn-Cu-Ag zone leaving the thicker lens
open to the north and down dip. In addition, many of the previously drilled
holes including some of Marathon's did not drill far enough east to test the
lower Zn-Cu-Ag zone that occurs along the granite contact. Additional drilling
in April-May will explore the rest of the Ore Fault mineralization.
    "The strong IP anomaly associated with the lower Zn-Cu-Ag zone continues
for at least 200m north into unexplored ground and the potential of finding
further extensions of mineralization is quite high. The rig will be back there
drilling in two weeks," said David Good, Marathon's Vice President of

    Assay Results from Marathon's Drilling

                                        Est.                             PGM
                                        True                             and
                From      To    Width   Width    Au      Pt      Pd      Au
    Hole         (m)      (m)     (m)    (m)   (g/t)   (g/t)   (g/t)   (g/t)
    MF0803      144.4     172   27.6     27     0.04    0.12    0.52    0.68
    including   147.4   156.4      9      9     0.08    0.22    0.94    1.24
                175.4   180.4      5      5     0.05    0.15    0.49    0.69
     zone       188.2     196    7.8    6.1     0.09    0.02    0.40    0.51
    MF0804      91.15   96.15      5      5     0.03    0.10    0.46    0.59
               159.75  172.65   12.9   12.9     0.01    0.08    0.34    0.43
                205.9     211    5.1    5.1     0.02    0.12    0.49    0.63
    MF0807      147.5     162   14.5   14.5     0.04    0.14    0.77    0.95
                189.5   198.7    9.2    9.2     0.02    0.24    1.12    1.38
    including   189.5   193.5      4      4     0.02    0.47    2.21    2.70
     zone         208   227.7   19.7   17.5     0.11    0.01    0.02    0.14
    including     224   227.7    3.7    3.3     0.10    0.03    0.06    0.19
     hole 24    199.8   213.1   13.3   11.5    n/d(1)  n/d(1)  n/d(1) n/d(1)

                  Cu      Ni     Zn       Ag
    Hole          (%)     (%)    (%)     (g/t)
    MF0803       0.15    0.33   0.03      2.4
    including    0.13    0.42 (less than) 1.1
                 0.30    0.47   0.12       12
     zone        1.76    0.13   3.50    176.7
    MF0804       0.15    0.39   0.02      2.0
                 0.12    0.26 (less than) 1.6
                 0.14    0.43   0.01      6.8
    MF0807       0.17    0.46 (less than) 2.2
                 0.34    0.82   0.02     11.2
    including    0.36    1.49   0.01      6.6
     zone        0.74    0.03   4.61     51.1
    including    0.83    0.03   6.53       98
     hole 24     0.70    0.02   3.98     40.4
    n/d(1) - not determined

    Current Drilling
    Marathon has completed 9 holes at the Ore Fault North Zone and 13 holes
at the Page Zone, located 1-km northeast. The drill is currently moving to the
Galaxy Zone where 5 holes are planned to test 3 geophysical anomalies. One of
the anomalies at Galaxy is associated with a previous sulphide intersection of
4.37g/t Palladium plus Platinum, 3.79% Nickel over 0.47 m and a second anomaly
is associated with surface grab samples containing up to 2g/t Gold and 1.13%
    Drilling at the Page Zone was guided by previous drilling and a recent
ground IP survey, within an area approximately 200m along strike and 150m
deep. Several of the holes intersected shallow dipping lenses of massive to
semi-massive sulphides. Previous drilling has intersected values as high as
13.75 meters of 1.08% Nickel, 0.50% Copper, 1.0g/t Platinum plus Palladium at
a depth of 47.7 metres (hole BR0502, see MAR release of 01-Nov-07).
Mineralization at the Page Zone remains open along strike and at depth.
    Marathon has an option to earn 100% of the Ore Fault Property, which
covers 446 hectares, from Bird River Mines Inc (see MAR release of 07-Jan-08).
The Ore Fault Property is part of a larger area called the Bird River Project
that consists of 7,301 ha that Marathon has an option to earn up to 70% of
this project from Gossan Resources (see MAR release of 17-Apr-08).
    (Please click on to see
a map of the Ore Fault Property.
    Samples consist of NQ-size drill core that are split by diamond saw on
site, prepared at ALS Chemex Vancouver, and assayed by fire assay with an
ICP-OES finish (for Pt, Pd and Au) and aqua regia or four acid dissolution and
ICP-OES finish for base metals. Marathon's quality assurance-quality control
(QA-QC) program consists of insertion of standards of known PGM content and
duplicates every 30 samples. After sampling, the remaining half core is
retained on site for future verification and reference purposes.
    David Good, P.Geo; Ph.D; Marathon's VP of Exploration is Marathon's
Qualified Person in compliance with National Instrument 43-101 with respect to
this release. Dr. Good has reviewed the contents for accuracy and has approved
this press release on behalf of Marathon.

    About Marathon PGM Corporation:

    Marathon is in the process of completing a definitive feasibility study
on the Marathon PGM-Cu deposit. Marathon also has development and exploration
stage properties in 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.

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.

    "Phillip C. Walford"
    Phillip C. Walford, P.Geo.
    President, Chief Executive Officer
    Tel: +1.416.987.0711

    %SEDAR: 00020574E

For further information:

For further information: David Leng, P.Geo: Tel: (416) 849-3432, Fax:
(416) 861-1925,

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