Marathon PGM Corporation
TSX VENTURE : MAR

October 14, 2005 12:26 ET

Marathon PGM Announces Results of 20 Drill Holes

TORONTO, ONTARIO--(CCNMatthews - Oct. 14, 2005) - Marathon PGM Corporation (TSX VENTURE:MAR) ("Marathon" or the "Company") is pleased to announce the assay results of an additional 20 drill holes and one channel cut in the 2005 Exploration program on its 100% owned Marathon PGM-Cu Property.

The majority of the drill holes are in the south resource where definition and step-out drilling have expanded the known mineralization. The drill holes that intersected volcanic rocks with no mineralization were testing the eastern limit of the mineralization under a clay cover. There are two zones as typified by M-05-75 with an upper higher grade zone of 4m grading 3.67 g/t PGM and 0.40% Copper and a lower zone of 20m grading 1.32 g/t PGM and 0.40% Copper. The mineralization now extends for 300m and is open to the north and down dip to the west.

The drilling in the RD Zone intersected two flat lying zones near and on surface as expected. Additional drilling is needed to define this mineralization that is known to extend further south.

Channel cut S-3 with 9.4m grading 1.88 g/t PGM and 0.03% Copper appears to be the surface expression of the high PGM grade, low copper grade zone was intersected in M-05-51. The intersection of 8m graded 4.63 g/t PGM and 0.06% Copper. Additional drilling will take place in November.



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Hole From To Inter- Est.
(m) (m) sec- True Total
tion width Pd Pt Au PGM Cu
(m) (m) (g/t) (g/t) (g/t) (g/t) (%)
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RD Zone
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M-05-64 No significant values
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M-05-65 16.0 26.0 10.0 5.0 1.08 0.02 0.16 1.26 0.34
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M-05-66 28.0 34.0 6.0 5.0 1.08 0.37 0.09 1.54 0.18
---------------------------------------------------------------------
40.0 46.0 6.0 5.0 0.96 0.42 0.15 1.53 0.22
---------------------------------------------------------------------
M-05-67 42.0 48.0 6.0 4.0 0.38 0.08 0.04 0.50 0.16
---------------------------------------------------------------------
M-05-68 3.3 6.0 2.7 2.0 1.28 0.42 0.15 1.85 0.40
---------------------------------------------------------------------
M-05-69 No significant values
---------------------------------------------------------------------
M-05-70 16.0 22.0 6.0 5.0 0.76 0.29 0.06 1.07 0.26
---------------------------------------------------------------------
28.0 34.0 6.0 5.0 0.41 0.12 0.06 0.59 0.17
---------------------------------------------------------------------
South Resource
---------------------------------------------------------------------
M-05-71 2.1 4.0 2.9 2.7 2.45 1.14 0.25 3.84 0.20
---------------------------------------------------------------------
20.0 28.0 8.0 7.5 1.02 0.27 0.08 1.37 0.19
---------------------------------------------------------------------
74.0 86.0 12.0 11.3 0.59 0.20 0.09 0.88 0.23
---------------------------------------------------------------------
M-05-72 16.0 24.0 8.0 8.5 1.77 0.44 0.14 2.35 0.45
---------------------------------------------------------------------
M-05-73,
74,78 Volcanic rock
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M-05-75 24.0 28.0 4.0 3.8 2.75 0.66 0.26 3.67 0.40
---------------------------------------------------------------------
104.0 124.0 20.0 18.8 0.94 0.22 0.16 1.32 0.40
---------------------------------------------------------------------
M-05-76 No significant values
---------------------------------------------------------------------
M-05-77 40.0 44.0 4.0 3.8 0.82 0.32 0.11 1.23 0.23
---------------------------------------------------------------------
106.0 140.0 34.0 32.0 0.48 0.15 0.06 0.69 0.34
---------------------------------------------------------------------
M-05-79 88.0 100.0 12.0 8.0 0.33 0.09 0.05 0.47 0.26
---------------------------------------------------------------------
M-05-80 46.0 56.0 10.0 7.0 0.66 0.23 0.14 1.03 0.11
---------------------------------------------------------------------
M-05-81 32.0 36.0 4.0 3.8 0.76 0.15 0.15 1.06 0.16
---------------------------------------------------------------------
48.0 62.0 14.0 13.1 0.70 0.23 0.10 1.03 0.24
---------------------------------------------------------------------
M-05-82 60.0 64.0 4.0 4.0 1.11 0.33 0.24 1.68 0.6
---------------------------------------------------------------------
M-05-83 No significant values
---------------------------------------------------------------------
M-05-84 94.0 120.0 26.0 26.0 0.75 0.19 0.10 1.04 0.31
---------------------------------------------------------------------
120.0 132.0 12.0 12.0 0.40 0.13 0.16 0.69 0.22
---------------------------------------------------------------------
S-3 North
Trench end 9.4 9.4 9.4 1.10 0.61 0.17 1.88 0.03
---------------------------------------------------------------------


Drilling is continuing in the Main Zone to increase the resource and better define the mineralization. There are currently 20 additional drill holes with assays pending.

All exploration work is being performed under the guidance and supervision of Phillip C. Walford, President of the Company, a Professional Geologist and Qualified Person as defined by National Instrument 43- 101. All of the samples were sent to Accurassay, an accredited laboratory in Thunder Bay, Ontario to be assayed. Further Company information may be found on the Web Site at http://www.marathonpgm.com.

About Marathon PGM-Cu Project

Marathon has 100% interest in the Marathon PGM-Cu Project located about 10 km north of the town of Marathon, Ontario. As previously announced the Company has completed a technical report on the property in compliance with the provisions of National Instrument 43-101 (the "Technical Report") prepared by Roscoe Postle Associates Inc. and filed on SEDAR on June 29, 2004.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Marathon PGM Corporation
    Phillip C. Walford
    President and CEO
    (416) 861-0851
    or
    Bay Street Connect
    Gus Garisto
    Investor Relations
    (416) 907-0979
    gus@baystreetconnect.com