Marathon PGM Corporation
TSX VENTURE : MAR

September 13, 2005 10:48 ET

Marathon PGM Corporation Announces High-Grade Intercept in Extension of Malachite Zone

TORONTO, ONTARIO--(CCNMatthews - Sept. 13, 2005) - Marathon PGM Corporation (Company) (TSX VENTURE:MAR) is pleased to announce the assay results of an additional eight drill holes and two channel cuts in the 2005 Exploration program on the Marathon Property. The highlights are drill holes M-05-58 with 10 m grading 8.84 g/t pgm and 0.12 % copper and drill hole M-05-59 with 52 m grading 1.50 pgm and 0.10 % copper. Both holes had higher grade sections that are part of the same zone. The M-05-58 intersection includes 2m grading 38.69 g/t pgm and 0.32 %, that is the highest pgm grade intersection on the property to date. M-05-59 includes a higher grade interval of 16 m grading 2.88 g/t pgm and 0.10 % copper.

Channel cut S-1 is also worthy of note with 36.8 m grading 1.39 g/t pgm and 0.24 % copper. This includes 17.7 m grading 2.19 g/t pgm and 0.36 % copper. The channel cut has not yet been tested by drilling. It appears to be the southern extension of the BR Zone. Drill holes M-05-61 and 62 tested a small magnetic anomaly between the Malachite and RD Zones. The copper mineralization was in an unusually heavy concentration of magnetite rich gabbro. The results of the additional 8 holes drilled to date and the two channel cuts are listed in table form below and the locations are on the attached map.



---------------------------------------------------------------------
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) (%)
---------------------------------------------------------------------
M-05-55 80.0 100.0 20.0 20.0 0.17 0.07 0.05 0.29 0.15
---------------------------------------------------------------------
M-05-56 25.0 29.0 4.0 3.0 1.53 0.34 0.13 2.00 0.10
---------------------------------------------------------------------
43.0 53.0 10.0 8.0 0.45 0.16 0.06 0.67 0.04
---------------------------------------------------------------------
M-05-57 10.0 22.0 12.0 12.0 0.40 0.17 0.05 0.62 0.15
---------------------------------------------------------------------
38.0 54.0 16.0 16.0 0.71 0.29 0.07 1.07 0.09
---------------------------------------------------------------------
64.0 70.0 6.0 6.0 0.35 0.13 0.06 0.54 0.11
---------------------------------------------------------------------
M-05-58 56.0 66.0 10.0 10.0 4.52 4.05 0.26 8.83 0.12
---------------------------------------------------------------------
Includes 56.0 58.0 2.0 2.0 18.63 19.00 1.06 38.69 0.32
---------------------------------------------------------------------
M-05-59 76.0 128.0 52.0 52.0 1.02 0.37 0.11 1.50 0.10
---------------------------------------------------------------------
Includes 76.0 92.0 16.0 16.0 2.05 0.66 0.17 2.88 0.10
---------------------------------------------------------------------
M-05-60 78.0 82.0 4.0 4.0 0.25 0.12 0.06 0.43 0.15
---------------------------------------------------------------------
M-05-61 10.0 44.0 34.0 34.0 trace trace trace trace 0.24
---------------------------------------------------------------------
M-05-62 7.0 11.0 4.0 4.0 trace trace trace trace 0.16
---------------------------------------------------------------------
Channel
S-1 0.0 36.8 36.8 30.0 1.00 0.24 0.15 1.39 0.24
---------------------------------------------------------------------
Includes 0.0 17.7 17.7 14.4 1.56 0.35 0.25 2.16 0.36
---------------------------------------------------------------------
Channel
K-1 2.0 55.3 53.3 40.5 0.44 0.16 0.05 0.65 0.15
---------------------------------------------------------------------


To view Map of the Drill Plan and Geology Malachite, RD & BR Zones on CCNMatthews website: http://www2.ccnmatthews.com/database/fax/2000/mpgm0913.pdf

A second drill rig was added in September to complete the program before winter. Hole M-05-80 is in progress. The results are pending on an addition 20 drill holes in the RD and Main Zones as well as several channel cuts.

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
    Gus Garisto
    Investor Relations
    (416) 907-0979
    gus@baystreetconnect.com