Marathon PGM Corporation
TSX VENTURE : MAR

November 10, 2005 08:00 ET

Marathon PGM Corporation Announces Excellent Results in the Main Zone Including 32 Metres of 3.11 g/t PGM and 0.66% Copper

TORONTO, ONTARIO--(CCNMatthews - Nov. 10, 2005) - Marathon PGM Corporation (TSX VENTURE:MAR)(Company) is pleased to announce the assay results of an additional 12 drill holes in the 2005 Exploration program on its Marathon PGM-Cu Property. All these holes are drilled in the Main Zone towards the middle of the deposit where some infill and definition holes were required. The results of M-05-103 are particularly important as the intercept of 32 m grading 3.11 g/t pgm and 0.66 % copper is in gap of drilling under Two Duck Lake.

Most of the drill holes intercepted mineralization as good as or better than expected. Only one hole, M-05-92 was not quite as good as predicted. Overall there is a gain in grade and / or thickness of mineralization in the holes. Many of the intersections have well developed higher grade PGM and copper values at the top of the mineralized sequence. Hole M-05-97 is a good example with 70 m grading 1.22 g/t pgm and 0.29 including the top 26 m grading 2.47 g/t pgm and 0.48 % copper. This is a common feature in the deposit and the zones can correlate over distances of 100 m or more.

Drill holes M-05-101, 102 and 103 were designed to define the volcanic contact and only intersected the lower grade footwall mineralization.



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Inter- Est. Total
Hole From To section True Pd Pt Au PGM Cu
(m) (m) (m) width (g/t) (g/t) (g/t) (g/t) (%)
(m)
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M-05-89 No significant values
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M-05-90 Volcanic rocks
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M-05-91 180.0 184.0 4.0 4.0 1.19 0.31 0.14 1.64 0.27
---------------------------------------------------------------------
208.0 250.0 42.0 42.0 0.78 0.25 0.10 1.13 0.32
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includes 208.0 214.0 6.0 6.0 2.41 0.75 0.37 3.53 0.86
---------------------------------------------------------------------
M-05-92 154.0 190.0 36.0 36.0 0.50 0.17 0.04 0.71 0.15
---------------------------------------------------------------------
204.0 218.0 14.0 14.0 0.90 0.29 0.08 1.27 0.28
---------------------------------------------------------------------
M-05-93 174.0 242.0 68.0 68.0 0.83 0.23 0.10 1.16 0.32
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includes 192.0 204.0 12.0 12.0 2.26 0.66 0.26 3.18 0.52
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M-05-97 108.0 178.0 70.0 70.0 0.89 0.23 0.10 1.22 0.29
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includes 108.0 134.0 26.0 26.0 1.83 0.46 0.18 2.47 0.48
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M-05-98 110.0 126.0 16.0 16.0 1.67 0.48 0.14 2.29 0.47
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142.0 152.0 10.0 10.0 0.86 0.20 0.10 1.16 0.33
---------------------------------------------------------------------
166.0 172.0 6.0 6.0 0.71 0.14 0.10 0.94 0.42
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M-05-100 114.0 178.0 74.0 74.0 1.07 0.29 0.11 1.47 0.45
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includes 114.0 138.0 24.0 24.0 1.53 0.43 0.14 2.10 0.40
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M-05-101 3.6 20.0 16.4 16.4 0.92 0.28 0.16 1.36 0.37
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M-05-102 4.0 28.0 24.0 24.0 0.36 0.12 0.06 0.54 0.16
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M-05-
103 10.0 32.0 22.0 22.0 0.60 0.16 0.07 0.83 0.31
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M-05
-106 52.0 60.0 8.0 7.0 0.48 0.18 0.06 0.72 0.10
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64.0 96.0 32.0 28.0 2.23 0.64 0.24 3.11 0.66
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Drill holes M-05-99, 104 and 105 are pending assays as are approximately 15 other drill holes.

The Main Zone drilling is complete. The drills are currently on the Malachite Zone and are expected to end the program November 12. The 2005 program will have close to 100 holes which will be added to the data bases and a new resource estimation is scheduled for completion in the first quarter of 2006.

All exploration work is being performed under the guidance and supervision of Phillip C. Walford, President for 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.

On Behalf of the Board of Directors,

"Phillip C. Walford"

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

Contact Information

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