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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (128220)	7/7/2022 1:11:36 AM
From: Goose94	Read Replies (1) \| Respond to of 202275

Marathon Gold (MOZ-T) has a revised resource estimate for its Valentine Lake gold project in central Newfoundland. Marathon lists 64.62 million tonnes measured and indicated at 1.9 grams of gold per tonne across five deposits, with another 20.75 million tonnes inferred at 1.65 grams per tonne, a total of 5.06 million ounces of gold. Marathon remains the largest of the deposits with 2.15 million of the ounces, but the newest of the five, Berry, is gaining ground. It now ranks second, with 1.34 million ounces, nosing out Leprechaun, which is home to 1.33 million ounces. The two other deposits are tiny by comparison: Victory hosts 140,000 ounces and Sprite contains 90,000 ounces. Mr. Manson, president and chief executive officer since he replaced the company's founder, Phillip Walford, three years ago, cheered the new estimate as the "largest in quantity, the highest in grade and the best in quality that has ever been produced for the Valentine gold project." Mr. Manson says that new studies are under way that will be included in an updated feasibility study, expected late this year. The current feasibility study, completed early last year, was based on a plan to start mining at 6,800 tonnes per day and expanding to 11,000 tonnes per day in year four. The $305-million mine and $44-million expansion were expected to average about 150,000 ounces annually over a 13-year run -- enough to support an internal rate of return of 31.5 per cent and a discounted net present value of $600-million after taxes. By Business Reporter