Mountain Lake Resources fka MOA

[canucklehead80]

Marathon CEO Phillip Walford on Newfoundland JV gold resource

Marathon Gold Corporation TSX:MOZ in joint venture with Mountain Lake Resources Inc TSXV:MOA announced an updated NI 43-101 mineral resource estimate for the Leprechaun deposit of the Valentine Lake project in central Newfoundland. The deposit now has measured and indicated resources of 424,000 ounces gold and inferred resource of 305,000 ounces.

The property is a 50/50 joint venture with Marathon as the project operator. Marathon President/CEO Phillip Walford tells ResourceClips.com, “During the last year we discovered that some of the historic drill holes were not what they should’ve been, and we’ve had to remove them from the database. That’s hurt us a little bit in the resource, in tonnage and grade and also in classification, but overall I think that will be behind us now. This year we’re pretty much mitigating all of that, and we’ve got an aggressive drill program going on. Our real focus now is on the high-grade zones, which really drive this deposit.

Read the rest of this article. http://resourceclips.com/2012/04/01/marathon-ceo-phillip-walford-on-newfoundland-jv-gold-resource/