Marathon Gold Corp (TSX:MOZ)

Mining

Marathon Gold Corporation explores, develops, and acquires precious and base metals properties. The company’s flagship asset Valentine Gold Project is located in Newfoundland and Labrador.

The exploration company has 100 per cent stake in Bonanza Mine in Oregon’s Baker County. In addition, it also operates wholly owned Gold Reef Property consisting of 12 hectares of claims in Stewart.

The mineral exploration company also holds two per cent smelter royalty returns sale of precious metals by Idaho-based Golden Chest Mine.

The company claims that its Valentine Gold Project on completion will be the largest gold mine in Atlantic Canada. As per a feasibility study conducted in 2021, the company announced that Valentine Gold has a mine life of 13 years with an average gold production in first nine years estimated at 173,000 ounces. In addition, the company affirms that first production has been scheduled for 2023.

Estimated proven and probable minerals on the flagship project totals 2.05 million ounces, and total measured and indicated reserves at 3.14 million ounces, the mining company claims. In addition, the Canadian company claims that the study indicated a lower initial capital cost and a higher rate of returns.

The gold property consists of various high-grade deposits, including Victory, Sprite, Berry, Leprechaun, etc.

The mining company also claims to engage in stakeholder engagement with the communities of Millertown, Buchans Jurisdiction, Badger, Bishop’s Falls and Grand Falls-Windsor, Miawpukek First Nations and Qalipu.

The Canadian company claims to employ around 404 persons during the construction phase and 426 workers during the operational phase. The life-of-mine capital investment is expected at $662 million and nearly $305 million as initial capital investment, the gold-focused company claims.

The project is also associated with annual expenditure on goods and services, local hiring and contracting costs of more than $100 million, reportedly.

The mining company reportedly raised C$115 million for exploration and development activities at the Valentine Gold Project.

Contact Information

company address 36 Lombard Street 6th Floor Toronto, Ontario M5C 2X3

company phone416.861.0851

company email[email protected]

company websitehttps://marathon-gold.com/

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