VANCOUVER, April 11, 2018 /CNW/ - Marlin Gold Mining
Ltd. (TSX-V: MLN) ("Marlin" or the "Company") is pleased to
announce positive drill results in the Footwall Zone at Pearce
Hill, which hosts a NI 43-101 Measured & Indicated resource of
984,900 gold equivalent ounces.1 Pearce Hill is
located within the wholly owned Commonwealth silver and gold
property in Cochise County,
Arizona (the "Commonwealth Project").
Marlin has completed a reverse circulation drill campaign
designed to explore for Footwall Zone mineralization (sedimentary
rock hosted Au mineralized zones) on the north side of Pearce
Hill. Results for the first 14 drill holes have been
received. The holes confirm that the Footwall Zone
mineralization drilled in 2017 beneath the North Vein on Pearce
Hill (see press release dated May 4,
2017) continues to the west-northwest for an additional 350
meters from the intercept previously reported from diamond drill
hole 17CDDH19 which intersected 1.78 g/t AuEq over 22.75
meters. True width of the mineralized zone varies from 5 to
50 meters. The total drilled strike length has been extended
to 525 meters, with drill intercepts demonstrating downdip extents
of as much as 200 meters.
Akiba Leisman, Executive Chairman
and Interim CEO states that "increasing the strike length
and confirming the continuity of the Footwall Zone is another
step forward in advancing the Commonwealth Project. These
exploration results as well as upcoming metallurgical testing
results are critical items as we move Commonwealth towards a
construction decision."
The table below summarizes the significant intercepts drilled by
Marlin at Pearce Hill discussed in this press release.
Drill Hole
(1)
|
From
(m)
|
To
(m)
|
Length
(m)
|
Estimated
True
Thickness (m)
|
AuEq
(g/t/) (2)
|
Au
(g/t)
|
Ag
(g/t)
|
Comment
|
18CRC01
|
0.0
|
6.1
|
6.1
|
6.1
|
0.33
|
0.24
|
14.1
|
North Vein
Zone
|
18CRC02
|
4.6
|
24.4
|
19.8
|
17.0
|
0.61
|
0.47
|
21.1
|
North Vein
Zone
|
18CRC02
|
27.4
|
33.5
|
6.1
|
5.2
|
0.45
|
0.34
|
18.3
|
North Vein
Zone
|
18CRC03
|
0.0
|
7.6
|
7.6
|
NA
|
0.98
|
0.79
|
30.9
|
Probably
Colluvium
|
18CRC04
|
9.1
|
15.2
|
6.1
|
NA
|
0.38
|
0.33
|
7.4
|
Probably
Colluvium
|
18CRC05
|
No significant
intercepts
|
18CRC06
|
0.0
|
15.2
|
15.2
|
15.2
|
0.68
|
0.59
|
15.2
|
North Vein
Zone
|
18CRC06
|
24.4
|
30.5
|
6.1
|
6.1
|
0.98
|
0.93
|
8.1
|
Footwall
Zone
|
18CRC07
|
12.2
|
24.4
|
12.2
|
12.2
|
0.68
|
0.62
|
9.0
|
Footwall
Zone
|
18CRC07
|
35.1
|
48.8
|
13.7
|
13.7
|
0.43
|
0.33
|
17.1
|
Footwall
Zone
|
18CRC07
|
59.4
|
79.2
|
19.8
|
19.8
|
0.51
|
0.42
|
15.7
|
Footwall
Zone
|
18CRC07
|
100.6
|
106.7
|
6.1
|
6.1
|
0.49
|
0.48
|
2.8
|
Footwall
Zone
|
18CRC08
|
36.6
|
86.9
|
50.3
|
50.3
|
0.50
|
0.46
|
6.4
|
Footwall
Zone
|
18CRC09
|
67.1
|
76.2
|
9.1
|
8.0
|
0.99
|
0.88
|
17.8
|
Footwall
Zone
|
18CRC09
|
82.3
|
88.4
|
6.1
|
5.4
|
0.54
|
0.50
|
7.5
|
Footwall
Zone
|
18CRC10
|
41.1
|
67.1
|
25.9
|
25.9
|
0.88
|
0.82
|
9.4
|
Footwall
Zone
|
18CRC11
|
18.3
|
30.5
|
12.2
|
9.8
|
0.88
|
0.80
|
12.7
|
Footwall
Zone
|
18CRC12
|
10.7
|
18.3
|
7.6
|
7.6
|
0.72
|
0.60
|
19.8
|
Footwall
Zone
|
18CRC13
|
16.8
|
21.3
|
4.6
|
4.2
|
0.76
|
0.71
|
8.3
|
Footwall
Zone
|
18CRC13
|
27.4
|
38.1
|
10.7
|
9.8
|
1.51
|
1.36
|
23.2
|
Footwall
Zone
|
18CRC14
|
36.6
|
45.7
|
9.1
|
7.5
|
1.33
|
1.14
|
31.4
|
Footwall
Zone
|
(1)
|
Significant
intercept defined as a minimum assay of 0.3 g/t AuEq over a minimum
4.6-meter interval with no more than 1.54 meters of internal
dilution below 0.3 g/t AuEq.
|
(2)
|
Gold equivalent
("AuEq") values at a silver to gold ratio of 160:1.
|
A cross section of drill holes 18CRC09 and 18CRC10 can be viewed
by clicking HERE.
A cross section of drill hole 18CRC13 can be viewed by clicking
HERE.
A plan view map of holes drilled deep enough to test the
Footwall Zone with corresponding grade x thickness values 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 1.54 meters. Drill holes discussed in this press
release were drilled using reverse circulation rigs and center
return bits. Previous drill holes at Pearce Hill were started
as large diameter PQ (8.5cm) core holes, and were reduced to HQ
(6.35cm) only where drilling conditions required. 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 labor
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.
____________________________
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"). Endorsed by QP(s): Zachary J.
Black, (HRC), SME-RM (No. 4156858RM), Jennifer J. Brown, P.G.
(HRC), SME-RM (No. 4168244RM), Jeff Choquette, P.E. (HRC), State of
Montana (No. 12265) and Deepak Malhotra, PhD (RDI), SME-RM (No.
2006420RM). 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.
|
SOURCE Marlin Gold Mining Ltd.