VANCOUVER, Feb. 15, 2018 /CNW/ - Marlin Gold Mining Ltd.
(TSX-V: MLN) ("Marlin" or the "Company") is pleased to announce
positive drill results at Six Mile Hill approximately two
kilometers southwest of Pearce Hill, which hosts a NI 43-101
Measured & Indicated resource of 984,900 gold equivalent
ounces.1 Six Mile Hill and Pearce Hill are both
located within the wholly owned Commonwealth silver and gold
property in Cochise County,
Arizona (the "Commonwealth Project").
Six Mile Hill hosts multistage
banded epithermal veins that are poorly exposed in outcrop and in
historic prospects. The area of historic prospects was drill
tested in the 1980s by previous operators, who reported
intersecting epithermal quartz veins without significant gold or
silver content. Recent mapping by Marlin located the possible
southeast extensions of these veined zones. Reverse
circulation ("RC") drill holes 17SMRC01, 17SMRC02 and 17SMRC03 (see
press release dated July 17, 2017)
successfully tested one of these zones over 400 meters of strike
length and all intersected a mineralized quartz veined zone over
drilled widths of 7.6 to 30.5 meters.
RC drill holes 17SMRC05-08 further tested this zone and were
drilled to intersect the structural zone nearly orthogonally to its
interpreted orientation and provide approximate true width
intercepts across the zone. All drill holes cut quartz veined
zones and returned reportable gold intercepts as summarized in the
table below. Drill holes 17SMRC09 and 17SMRC10 tested the
northwestern limits of the surface exposures of quartz
veining. Both drill holes intersected anomalously gold
mineralized quartz veined zones, including 6.10 meters (interpreted
true width of 5.1 meters) grading 8.15 g/t Au in drill hole
17SMRC10 from a quartz vein that does not obviously correlate to
any surface exposure.
Drill holes 17SMRC05-08 returned gold intercepts from quartz
veined zones that were lower grade than the intercepts returned
from visually identical veined zones intersected in the first round
of drill holes at Six Mile Hill (see press release dated
July 17, 2017). Possible reasons for
this difference include the high variability of gold concentrations
within the veined zones, a sampling problem related to RC drilling
methods and/or coarse gold irregularly distributed within the
veins. Duplicate RC chip samples have been sent to an
accredited laboratory for screen fire assays, designed to test for
and quantify the extent to which coarse gold is present.
To test the repeatability of RC drilling results, drill hole
17SMRC03, which yielded 1.91 g/t Au over 30.48 meters, was twinned
by drill hole 18SMRC11. Drill hole 18SMRC11 returned 3.10 g/t
Au over 22.86 meters. This difference suggests that diamond
core drilling may be necessary to adequately define the gold
mineralized zones at Six Mile Hill, and that coarse gold may be
present.
Akiba Leisman, Executive Chairman
and Interim CEO states that "Six Mile Hill continues to produce
positive drill results that add to the district potential of the
Commonwealth Project. Importantly, the grades being
encountered support both open pit and underground targets. It
is exciting to be following up on these results, including the use
of core drilling, as we are only beginning to understand the
potential of Six Mile Hill."
_____________________________
|
1
|
As reported in the NI
43-101 compliant technical report entitled "National Instrument
43-101 Technical Report: Updated Mineral Resource Estimate for the
Commonwealth Silver and Gold Project, Cochise County, Arizona,
USA" with an effective date of August 27, 2016 and dated
November 8, 2017 (the "Commonwealth Technical Report"). The
Commonwealth Technical Report is preliminary in nature, mineral
resources are not mineral reserves and there is no certainty that
all or any part will be converted to mineral reserves. Marlin is
currently drilling and conducting metallurgical test work on the
Commonwealth Project, including the area surrounding the NI 43-101
resource, with the intent to upgrade the Commonwealth Technical
Report. Electronic copies of the Commonwealth Technical Report are
available free of charge on Marlin's website at
www.marlingold.com.
|
The table below summarizes the significant intercepts drilled by
Marlin at Six Mile Hill discussed in this press release.
Drill Hole
(1)
|
From
(m)
|
To
(m)
|
Length
(m)
|
Interpreted
True Width as
% of Length (2)
|
Au
(g/t)
|
17SMRC05
|
147.83
|
155.45
|
7.62
|
85%
|
0.65
|
17SMRC05
|
175.26
|
179.83
|
4.57
|
85%
|
0.49
|
17SMRC06
|
143.26
|
149.35
|
6.09
|
85%
|
1.20
|
17SMRC07
|
129.54
|
138.68
|
9.14
|
85%
|
0.94
|
17SMRC07
|
141.73
|
147.83
|
6.10
|
85%
|
0.81
|
17SMRC08
|
135.64
|
141.73
|
6.09
|
85%
|
0.89
|
17SMRC09
|
No significant
intercepts
|
17SMRC10
|
54.86
|
59.44
|
4.58
|
85%
|
0.70
|
17SMRC10
|
236.22
|
242.32
|
6.10
|
85%
|
8.15
|
18SMRC11
|
50.29
|
54.86
|
4.57
|
50%
|
0.95
|
18SMRC11
|
99.06
|
121.92
|
22.86
|
50%
|
3.10
|
(1)
|
Significant
intercept defined as a minimum assay of 0.3 g/t Au over a minimum
4.57-meter interval (3 standard sample intervals) with no more than
1.52 meters (1 standard sample interval) of internal dilution below
0.3 g/t Au.
|
(2)
|
Based on the
unproven assumption that the zone has the same orientations as
narrow quartz veinlets mapped at surface.
|
A geologic and assay cross section of drill hole 17SMRC10 can be
viewed by clicking HERE and HERE.
A geologic and assay cross section of drill hole 18SMRC11 can be
viewed by clicking HERE and HERE.
A map of Six Mile Hill that includes the location of historic
holes, the drill holes discussed in this press release, previously
drilled holes, results from rock chip samples and the surface
interpretation of mineralized structures and/or veins 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 cuttings were continuously sampled from inception to
termination of the drill hole. Sample intervals were
typically 1.52 meters. Drill holes at satellite targets,
including San Ignacio, Blue Jeep
and Six Mile Hill, were drilled using reverse circulation rigs and
center return bits. Geologic data was captured into a digital
database. One half split of the drill cuttings was collected for
analysis and one half was retained in secure on-site storage.
Samples were kept in a secured logging and storage facility until
such time that they were received on site by representatives of
Skyline Assayers and Laboratories ("Skyline"). Sample
preparation and analysis of pulps was done in the Tucson, Arizona facilities of Skyline.
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 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.
(TSX-V:FISH). 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.