Marathon Gold (TSX: MOZ)
Provided an update on progress at its 100% owned Valentine Gold Project located in central Newfoundland for the quarter ended June 30, 2023.
.
.
| Marathon Gold | TSX: MOZ |
| Stage | Development + Exploration |
| Metals | Gold |
| Market cap | C$320 m @ 81c |
| Location | Newfoundland and Labrador |
.
Marathon Gold Provides Second Quarter 2023 Construction Report
.
TORONTO, ON – August 2, 2023 – Marathon Gold Corporation (“Marathon” or the
“Company”; TSX: MOZ) is pleased to provide an update on progress at its 100% owned
Valentine Gold Project located in central Newfoundland (the “Project”) for the quarter ended June 30, 2023.
Two full quarters of construction have now been completed at the Project since major mobilization commenced in January 2023.
During June 2023, the Project exceeded 500,000 hours of site work completed without a lost time incident. At the end of the second quarter, overall completion at the
Project stood at 35%, with engineering at 87%, procurement at 60%, and construction at 15%.
The Project remains on track for first gold production in the first quarter of 2025.
Currently, 454 Marathon employees and contractors are employed or providing services to the Project, 80% of whom are residents of Newfoundland and Labrador.
Matt Manson, President and CEO, commented:
“Construction at the Valentine Gold Project has moved into summer months with strong progress being made in each of our principal work fronts of mining, process plant, and Tailings Management Facility.
“During the second quarter our permanent camp was completed and occupied, and a second mining shift was mobilized.
“At the time of this report, earthworks at our process plant site have been completed and foundations are being poured. We expect to see continued good progress going into the fall, and the Project remains on track for first gold in Q1 2025, consistent with our previous guidance.
“After almost 10 months since site activities began, we are pleased to be reporting a safe and environmentally protected work site, and strong engagement from our Newfoundland and Labrador based construction team and contracting partners.”
To read the full news release please click HERE
.
=======
.
If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
=======
.
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
.
=======
,
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
.
.
Disclosure
At the time of writing the author holds no shares in Marathon Gold
.
.