VANCOUVER, Jan. 16, 2018 /CNW/ - Marlin Gold Mining Ltd.
(TSX-V: MLN) ("Marlin" or the "Company") is pleased to announce
positive drill results from the Colinas target area ("Colinas")
less than 1 kilometer from the Taunus pit within the permitted
mining boundary at the wholly owned La
Trinidad gold mine in Sinaloa,
Mexico (the "La Trinidad Mine").
The drilling at Colinas has focused on an area that is amenable
to open pit mining along a southeast trending structural corridor,
which is interpreted to be an extension of the structure that
controls gold mineralization in the Taunus pit.
Diamond holes 17COLDDH08, 17COLDDH14 and 17COLDDH15 intersected
a low angle faulted vein zone, interpreted to be a thrust
fault. These holes returned grades of 2.66, 8.42 and 7.17 g/t
Au, respectively over a true width that varies from 2.37-3.65
meters. All intercepts are oxide and are less than 25 meters
from surface. The structure appears to pinch and swell down
dip and along strike. Diamond drill hole 17COLDDH09
intersected the same structure over a width of 0.5 m at 1.3 g/t Au. The dip varies from
20-37 degrees.
Assays are pending for five additional diamond drill holes in
this area (17COLDDH07 and 17COLDDH10-13).
Exploration is currently focused on defining this shallow zone,
which has been identified over a strike of approximately 180 meters
and a dip of approximately 40 meters.
Diamond drill holes 17COLDDH05 and 17COLDDH06 targeted a complex
zone approximately 90 meters below surface. Hole 17COLDDH06
intersected an anomalous zone of 18.35 meters at 0.44 g/t Au.
Additional drilling will be required to define this deeper
zone. However, this hole also intersected a shallow zone of
1.90 meters at 1.29 g/t Au. This intercept is considered to
be significant since it is the up-dip projection of the shallow
thrust zone across a local 70-meter depression. This
intercept opens up another prospective zone with approximately 150
meters of strike length within the permitted mining boundary.
Akiba Leisman, Executive Chairman
and Interim CEO states that "internal studies applying current
mining costs along with column leach testing results of drill core
at Colinas, indicate that mineralized material from Colinas may be
suitable for processing at the La Trinidad Mine. Ideally,
material from Colinas would supplement current production before we
access the southern part of the high-grade HS Zone in March."
The table below summarizes the significant intercepts drilled by
Marlin at Colinas that are discussed in this press release.
Drill Hole
(1)
|
From
(m)
|
To
(m)
|
Length (m)
(2)
|
Au
(g/t)
|
17COLDDH05
|
No significant
intercepts
|
17COLDDH06
|
102.00
|
120.35
|
18.35
|
0.44
|
17COLDDH07
|
Assays
pending
|
17COLDDH08
|
19.85
|
23.50
|
3.65
|
2.66
|
17COLDDH09
|
No significant
intercepts
|
17COLDDH10-13
|
Assays
pending
|
17COLDDH14
|
7.65
|
10.02
|
2.37
|
8.42
|
17COLDDH15
|
10.20
|
13.00
|
2.80
|
7.17
|
(1)
|
Near surface
intercepts, which can be exploited by selective mining methods, are
reported if the total length is greater than 2 meters and grade
exceeds 0.6 g/t Au, all other reported intercepts are at least 6
meters long with a minimum assay of 0.3 g/t Au with no more than 2
meters of internal dilution below 0.3 g/t Au.
|
(2)
|
Drill hole
intercepts are believed to be approximately the true thickness of
the zone.
|
A map of the Colinas target area that includes the location of
the drill holes discussed in this press release can be viewed by
clicking HERE.
Dr. Matthew D. Gray. C.P.G., of
Resource Geosciences Incorporated, which oversees, directly or
indirectly, the Company's exploration programs in Mexico and Arizona, a Qualified Person under the
definitions of CSA NI 43-101, has
supervised the preparation of the information that forms the basis
for the scientific and technical disclosure in this news
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
Marlin is a growth-oriented gold and silver mining company
focused on the Americas. The company owns three properties located
in Mexico and the USA and a portfolio of royalties. Marlin's
priority is to profitably operate its La Trinidad Mine, conduct
further exploration on its other projects and enhance shareholder
value through a strategic relationship with 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.
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 statements relating to: the anticipated access
to mineralized material, including any potential mining thereof;
the timing and scope of certain drilling programs; the receipt of
assay results; statements regarding the perceived merit of
properties, exploration programs and budgets; anticipated capital
expenditures; mineral resource estimates; timelines; strategic
plans; and other statements that are not statements of fact. These
forward-looking statements are necessarily based upon a number of
estimates and assumptions that are based on management's
expectations and considered reasonable at the time they are made,
including among others: that work proceeds in accordance with the
timing and scope anticipated by management and that anticipated
market prices for precious and base metals are achieved. Investors
are cautioned that all forward-looking statements 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:
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 annual
management's discussion and analysis 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.
SOURCE Marlin Gold Mining Ltd.