MILLERTOWN, N.L. — Marathon Gold is going to shift its drilling focus from discovery to adding ounces for its Valentine Lake Project in central Newfoundland.
The mining company shared details of its plans for 2021 in a news release Tuesday. It has a $10.5-million exploration program budgeted for the year, allowing for 52,000 metres of drilling for the project, located near the community of Millertown.
"Our 2020 exploration program, including the Berry (Zone) infill drill program added mid-year, has been successful in delineating an important new area of gold mineralization at the Valentine Gold Project," Marathon Gold president and CEO Matt Manson said in the news release. "Whereas our 2020 exploration work was discovery oriented, our 2021 exploration program is designed to add ounces, with up to 30,000 metres of additional in-fill drilling planned for the Berry Zone over its full 1.5-kilometre length. We also plan to return to the Victory and Sprite Deposits, with up to 8,000 metres of drilling in each area."
According to Manson, the first mineral resource estimate for the Berry Zone based on this initial round of drilling is due before the end of the first quarter of 2021. In 2020, Marathon Gold drilled 212 holes covering 42,000 metres, and this work will inform the first-ever estimate for Berry.
The company's exploration program in 2021 will be carried out by local exploration staff and contractors, all of whom live in Newfoundland and Labrador. Drilling is presently underway with three rigs in use.
Meanwhile, the environment assessment for the project is an ongoing matter. A decision from the provincial environment minister on the acceptability of an environmental impact statement was due Jan. 12, but that deadline was recently extended to Tuesday, Feb. 2. Newfoundland and Labrador is now in the midst of a provincial election campaign.
