Marathon PGM Corporation
TSX VENTURE : MAR

September 07, 2005 12:28 ET

Marathon PGM Corporation Announces New Zone Developing East of BR Mineralization

TORONTO, ONTARIO--(CCNMatthews - Sept. 7, 2005) - Marathon PGM Corporation (TSX VENTURE:MAR) (Company) is pleased to announce the assay results of an additional ten drill holes in the 2005 Exploration program on the Marathon Property. The highlights are drill holes M-05-45 and M-05-46 that both extended the BR Zone to the south and confirmed a new lower zone of PGM and Copper mineralization. The lower zone in M-05-45 graded 1.25 g/t pgm and 0.16 % copper over 6m and in M-05-46 graded 1.86 g/t pgm and 0.40 % copper over 12 m at about 100 m below surface. The extension of this mineralization towards surface and along strike has yet to be tested. The results of the additional 10 holes drilled to date are listed in table form below and the locations are on the attached map.

Drill holes M-05-45 to 52 are in the BR Zone. The intersections correlate well with previous results in this zone. This program has increased the known area extent of the BR Zone by a factor of four from last year. The grades seem to be weakening to the south as more volcanic fragments are found but the total thickness of anomalous to well mineralized gabbro remains about 50 m. The high grade intercept of 2 m grading 15.50 g/t pgm and 0.06 % copper in M-05-52 demonstrates further potential to the west. The zone remains open to the west, north and south. Additional drilling is required to define the size of the zone.

Drill hole M-05-53 drilled between the BR and Malachite zones did not intersect anything other than anomalous values of PGM and Copper indicating that the BR and Malachite Zones may not join. The hole intersects an area of complex geology that may separate the two zones.

The results of the first hole drilled in the Malachite Zone, M-05-54 were low in pgm values, 18 m grading 0.45 pgm and 0.20 copper but this is an encouraging result for an exploration hole 100 m north of the last drill hole in the Malachite Zone. The results of the additional drill holes in the Malachite Zone are pending.



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Est.
Inter- True Total
From To section width Pd Pt Au PGM Cu
Hole (m) (m) (m) (m) (g/t) (g/t) (g/t) (g/t) (%)
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M-05-45 38.0 50.0 12.0 11.0 1.11 0.36 0.17 1.64 0.19
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142.0 148.0 6.0 5.6 1.17 0.25 0.10 1.52 0.22
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166.0 172.0 6.0 5.6 0.86 0.21 0.18 1.25 0.16
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M-05-46 84.0 88.0 4.0 4.0 0.27 0.08 0.06 0.41 0.23
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124.0 136.0 12.0 12.0 1.18 0.51 0.17 1.86 0.40
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M-05-47 88.0 92.0 4.0 3.0 1.30 0.40 0.13 1.83 0.34
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M-05-48 74.0 90.0 16.0 16.0 1.12 0.36 0.15 1.63 0.38
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M-05-49 22.0 36.0 14.0 10.0 1.52 0.86 0.18 2.56 0.05
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58.0 68.0 10.0 7.0 0.22 0.13 0.05 0.40 0.13
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76.0 88.0 12.0 9.0 0.40 0.14 0.06 0.60 0.16
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M-05-50 18.0 20.0 2.0 2.0 2.85 0.65 0.27 3.77 0.84
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40.0 64.0 24.0 24.0 0.46 0.15 0.07 0.68 0.23
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M-05-51 22.0 30.0 8.0 7.0 0.40 0.19 0.14 0.73 0.07
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84.0 92.0 18.0 17.0 0.27 0.12 0.05 0.44 0.15
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M-05-52 16.0 24.0 8.0 8.0 2.91 1.63 0.09 4.63 0.06
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includes 16.0 18.0 2.0 2.0 10.20 5.26 0.05 15.50 0.06
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M-05-53 No signifi values
cant
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M-05-54 32.0 50.0 18.0 18.0 0.26 0.12 0.06 0.44 0.20
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Drill holes M-05-55 through to M-05-79 have been logged, sampled and await assay results. A second drill has been added to complete the 2005 program before winter.

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.

NOTE: There is a Map available on CCNMatthews' website at:
http://www2.cdn-news.com/database/fax/2000/PGM807.pdf



On Behalf of the Board of Directors,
"Phillip C. Walford"
Phillip C. Walford
CEO & Director



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