April 10, 2017 — Vancouver, British Columbia — Marlin Gold Mining Ltd. (TSX-V: MLN) ("Marlin" or the “Company”) is pleased to report two high grade intercepts in drill hole 17TRD44 at the Company's wholly owned La Trinidad mine in Sinaloa, Mexico.
Hole 17TRD44 was drilled to test an area in the southern part of the high grade HS Zone where 11TRSN019 (sonic drill hole) provided the only previous drilling information in the area. The upper portion of 17TRD44 not only confirms the high grade intercept of 11TRSN019, which hit 8.07 g/t gold over 12.7 meters (see press release dated July 21, 2011), but it is positively reconciling to the current block model. 17TRD44 is completely open to the west, where there is no drilling information, and the nearest drill hole to the north is 16TRD22, which hit 6.91 g/t gold over 11.0 meters 59 meters away (see press release dated May 18, 2016). The Company plans to be mining the area around the upper high grade intercept of 17TRD44 by the end of 2017.
Additionally, the intercept in the lower part of hole 17TRD44 (5.81 g/t gold over 12.55 meters) confirms a mineralized zone entirely outside the current pit limit. Drill hole 09TR023 previously intercepted this mineralization when it hit 1.5 g/t gold over 17.8 meters, including 3.8 g/t gold over 5.80 meters (see press release dated September 9, 2009). Given that the deeper intercept of 17TRD44 is significantly higher grade than previous drilling, this may have an impact on the overall size and depth of the pit, which may increase the current mine life.
Further drilling is planned to follow up on both mineralized zones, as well as targeting additional areas of mineralization along strike to the south.
Akiba Leisman, Executive Chairman and Interim CEO states that “an intercept of 15.55 grams per tonne gold over 15.45 meters in an open pit heap leach mine is extraordinary, but it is not unique at our mine. These are grades higher than what was mined in December and January when the company sold approximately 20,000 ounces of gold at less than $300 per ounce total costs. We are well advanced on our south pit layback, and we are excited to be mining this type of high grade mineralization later this year.”
The table below summarizes the two intercepts in hole 17TRD44. A cross section can be viewed by clicking HERE .
[Table in PDF version only]
*Significant intercept defined as minimum gold assay of 0.3 g/t over a minimum 6-meter interval with no more than 2 meters of internal dilution below 0.3 g/t. Drill hole intercepts are believed to be approximately the true thickness of the zone.
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.
Dr. Matthew D. Gray. C.P.G., of Resource Geosciences Incorporated, a Qualified Person under the definitions of CSA NI 43-101, implemented and supervised industry standard QA/QC protocols for the La Trinidad drill sampling program including insertion of duplicate and reference standard samples. Dr. Gray has verified the reliability of the drill sampling results reported in this press release.
About Marlin Gold
Marlin is a publicly-traded gold and silver mining company with properties located in Sinaloa, Mexico and Arizona, USA. Marlin's priority is to advance its properties toward commercial production and enhance shareholder value through the growth of its wholly owned subsidiary, Sailfish Royalty Corp. The La Trinidad property in Sinaloa, Mexico, declared commercial production on November 1, 2014. A NI 43-101 mineral resource estimate and preliminary economic assessment for the La Trinidad mine and Commonwealth project can be found at www.sedar.com or atwww.marlingold.com.
For further information contact:
Akiba Leisman, Executive Chairman and Interim CEO
Marlin Gold Mining Ltd.
E-mail: [email protected]
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