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VANCOUVER, June 12, 2017 /CNW/ - Marlin Gold Mining Ltd. (TSX-V: MLN) ("Marlin" or the "Company") is pleased to report another round of positive drill results from the Company's wholly owned La Trinidad gold mine in Sinaloa, Mexico (the "La Trinidad Mine").
Hole 17TRD52 intersected 2.73 g/t gold over 38.70 meters (16.30 meters true width), including 5.12 g/t gold over 14.00 meters (5.88 meters true width). 17TRD52 was intended to target an area approximately 25 meters to the north of 17TRD50, which intersected 7.57 g/t gold over 63.35 meters (26.70 meters true width) (see press release dated May 24, 2017), and approximately 50 meters to the north of 17TRD44, which intersected 15.55 g/t gold over 15.45 meters true width (see press release dated April 10, 2017).
As is the case with the upper intercepts of holes 17TRD50 and 17TRD44, the upper intercept of 17TRD52 was previously interpreted as waste, and will likely have a positive impact to the modeled grade and tonnage in this area of the deposit. Additionally, there was a separate and even higher up (approximately 40 meters above the known depth of the high grade HS Zone) intersection of 1.38 g/t gold over 14.70 meters. The Company plans to be mining the area around the highest intercept of 17TRD52 within two months.
A longitudinal section of holes 17TRD52 can be viewed by clicking HERE.
A cross section of hole 17TRD52 can be viewed by clicking HERE.
A three-dimensional block model of the area around holes 17TRD52, 17TRD50 and 17TRD44 can be viewed by clicking HERE.
Not to be overlooked, holes 17TRD53 and 17TRD56, which are located over 100 meters to the south of 17TRD52, intersected 2.36 g/t gold over 8.00 meters (4.80 meters true width) and 2.31 g/t gold over 6.17 meters true width, respectively.
Further drilling is planned to continue refining the current mine plan, as well as targeting additional areas of mineralization to the southeast that can extend the mine life of the Taunus pit at the La Trinidad Mine.
Akiba Leisman, Executive Chairman and Interim CEO states that "drilling at the Taunus pit is giving us great exploration success. Areas that were previously modeled as waste are yielding mineralized intercepts that are multiples of our 0.35 g/t gold cut-off grade. This drilling program will add ounces to our mine plan, and we will continue drilling to the southeast to determine how significant the Taunus pit can eventually become."
The table below summarizes the significant intercepts. True widths of the drilled intercepts are believed to be 42% for 17TRD52 and 60% for 17TRD53. Drill hole intercepts are believed to be approximately the true thickness of the zone for holes 17TRD55 and 17TRD56.
| Drill Hole(1) |
Target Area |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
| 17TRD51 |
South HS Zone |
No Significant intercepts |
|||
| 17TRD52(2) |
South HS Zone |
81.30 |
96.00 |
14.70 |
1.38 |
| including(3) |
South HS Zone |
81.30 |
88.00 |
6.70 |
2.16 |
| 17TRD52 |
South HS Zone |
131.30 |
170.00 |
38.70 |
2.73 |
| including(3) |
South HS Zone |
134.00 |
148.00 |
14.00 |
5.12 |
| 17TRD52 |
South HS Zone |
184.00 |
192.00 |
8.00 |
1.30 |
| 17TRD53 |
South HS Zone |
88.00 |
104.00 |
16.00 |
1.48 |
| including(3) |
South HS Zone |
88.00 |
96.00 |
8.00 |
2.36 |
| 17TRD54 |
Southeast Extension |
No Significant intercepts |
|||
| 17TRD55 |
Southeast Extension |
0.00 |
11.20 |
11.20 |
0.74 |
| 17TRD56 |
South HS Zone |
60.00 |
66.17 |
6.17 |
2.31 |
| 17TRD56 |
South HS Zone |
76.00 |
88.00 |
12.00 |
1.36 |
| (1) |
Significant intercept defined as a minimum assay of 0.3 g/t Au over a minimum 6-meter interval with no more than 2 meters of internal dilution below 0.3 g/t Au. |
| (2) |
Significant intercept criteria for hole 17TRD52 was modified from all previously reported drill holes to properly account for the length of the intercept from 131.30 to 170.00 meters. For this intercept, a 6.6 meter zone of 0.13 g/t Au of internal dilution, below the cut-off grade of 0.30 g/t Au, was included in the reported intercept. All other criteria remained the same. |
| (3) |
Significant internal intercept defined as a minimum assay of 2.0 g/t Au over a minimum 6-meter interval with no more than 2 meters of internal dilution below 0.5 g/t Au. |
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 La Trinidad 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.
Notes on Sampling and Assaying
Drill core was continuously sampled from inception to termination of the drill hole. Sample intervals were typically two meters. Drill core diameter was HQ (6.35 centimeters). Geologic and geotechnical data was captured into a digital database, core was photographed, then one half split of the core was collected for analysis and one half was retained in the core library. Samples were kept in a secured logging and storage facility until such time that they were received on site by representatives of Bureau Veritas Commodities Canada Ltd. ("Bureau Veritas"). Sample preparation was done in the Durango facilities of Bureau Veritas and pulps were sent to the Bureau Veritas laboratory in Vancouver for analysis. Gold was analyzed by standard fire assay fusion, 30 gram aliquot, AAS finish, with samples reporting greater than 10 grams per tonne gold re-assayed by fire assay fusion with gravimetric finish. Controls samples consisting of duplicates, standards, and blanks were inserted into the sample stream and analytical results of control samples confirmed reliability of the assay data.
About Marlin Gold
Marlin is a growth-oriented gold and silver mining company focused on the Americas. The company owns two properties located in Sinaloa, Mexico and Arizona, USA and a portfolio of royalties. 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. Marlin is backed by a well-funded investor with a successful track record in the resources sector. The La Trinidad Mine in Sinaloa, Mexico declared commercial production on November 1, 2014 and is one of the highest-grade open pit heap leach gold mines in Mexico. 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.
Akiba Leisman, Executive Chairman and Interim CEO, Marlin Gold Mining Ltd., Telephone: 203-862-7059, E-mail: [email protected]
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