Marathon Gold Announces 2019 Third Quarter Results
TORONTO, Nov. 13, 2019 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) today announces its financial results for the third quarter ending September 30, 2019 and provides an update on the Company’s activities.
Matt Manson, President and CEO stated: “Marathon made significant progress during the quarter in advancing the Valentine Gold Project in central Newfoundland. We completed a successful infill drill program in support of an updated Mineral Resource estimate, expected prior to year end. We initiated our Pre-Feasibility Study with Ausenco as lead consultant and progressed our environmental assessment work under guidelines now issued by the federal and provincial regulators. Finally, we finished the quarter with $34 million in cash following a successful equity financing in September. We anticipate that this will be sufficient to fund our upcoming engineering and assessment work under our new leadership team, as well as allowing us to continue our drilling and discovery success on the 20-kilometer long trend of gold mineralisation at Valentine.”Company UpdateManagement Changes