Marathon PGM Corporation
TSX VENTURE : MAR

November 01, 2005 12:59 ET

Marathon PGM Corporation Announces Positive Results for Main Zone

TORONTO, ONTARIO--(CCNMatthews - Nov. 1, 2005) - Marathon PGM Corporation (Company) is pleased to announce the assay results of an additional 7 drill holes and one channel cut from the 2005 Exploration program on the Marathon PGM-Cu Property. The results are in the table. All drilling was in the 1.9 km long Main Zone. The holes M-05-85, 86, 87 and 88 were all drilled in the southern portion of the Main Zone. The holes M-05-94, 95 and 96 were drilled in the middle of the Main Zone. Both sets of holes are infilling areas of inferred resources. The results are generally better in grade or width than the closest existing drill intercepts.

Drill hole M-05-86 had several intersections of lower grade mineralization and 24 m grading 3.19 g/t pgm and 0.53 % copper, that extended an existing higher grade zone over 50 m along strike. Drill hole M-05-96 was very effective in extending a known upper zone of higher pgm grades at least 50 m along strike with an 14 m grading 2.28 g/t pgm and 0.25% copper as well as having a thick foot wall zone. The footwall zone was thicker than expected, 58 m thick, and had very good grades in top 28 m of the zone with grades of 2.29 g/t pgm and 0.55% copper.

Channel cut # 18 in the RD Zone had one exceptional interval in the east end of the trench where an old cut was found. The interval 13.6 m long graded 4.01 g/t pgm and 0.43 % copper.



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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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Main Zone
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M-05-85 8.0 20.0 12.0 12.0 0.20 0.10 0.04 0.34 0.13
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24.0 62.0 38.0 38.0 0.57 0.13 0.11 0.81 0.40
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M -05-86 52.0 64.0 12.0 11.0 0.60 0.21 0.09 0.90 0.17
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88.0 98.0 10.0 9.5 .25 0.21 0.04 0.50 0.19
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120.0 144.0 24.0 23.0 2.59 0.42 0.18 3.19 0.53
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M-05-87 132.0 146.0 14.0 14.0 0.58 0.36 0.15 1.09 0.14
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238.0 244.0 6.0 6.0 1.26 0.45 0.14 1.85 0.25
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252.0 262.0 10.0 10.0 0.87 0.19 0.08 1.14 0.25
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M-05-88 No Values volcanic rock
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M-05-94 118.0 194.0 76.0 63.0 1.08 0.36 0.17 1.61 0.50
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118.0 144.0 26.0 21.6 1.65 0.59 0.15 2.39 0.55
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M-05-95 66.0 78.0 12.0 12.0 1.20 0.31 0.11 1.62 0.38
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92.0 104.0 12.0 12.0 1.18 0.32 0.12 1.62 0.43
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M-05-96 74.0 88.0 14.0 14.0 1.65 0.37 0.26 2.28 0.25
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96.0 154.0 58.0 58.0 1.10 0.37 0.11 1.58 0.39
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Includes 104.0 132.0 28.0 28.0 1.61 0.52 0.16 2.29 0.55
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RD Zone
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RD Channel
18 9.7 23.3 13.6 2.89 0.82 0.30 4.01 0.42
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76.0 83.8 7.83 0.93 0.24 0.08 1.24 0.04
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124.0 130.1 6.1 2.70 0.69 0.28 3.67 0.38
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Drilling will continue until mid November to increase the resource and better define the mineralization. There are currently 20 additional drill holes with assays pending including M-05-89, 90, 91, 92 and 93. As well, the samples covering the west end of channel # 18 and some additional channel cuts have still to be assayed.

Work has commenced on a revision of the resource. The new drilling and the metallurgical work completed in March will be utilized in the study. The new resource will be complete 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
    Gus Garisto
    Investor Relations
    416-907-0979
    gus@baystreetconnect.com