Marlin Gold Announces Positive Drill Results in the Footwall Zone at Pearce Hill on the Commonwealth Project - Nearly Tripling Strike Length to 525 Meters
VANCOUVER, April 11, 2018 - Marlin Gold Mining Ltd. (TSX-V: MLN) ("Marlin" or the "Company") is pleased to announce positive drill results in the Footwall Zone at Pearce Hill, which hosts a NI 43-101 Measured & Indicated resource of 984,900 gold equivalent ounces.1 Pearce Hill is located within the wholly owned Commonwealth silver and gold property in Cochise County, Arizona (the "Commonwealth Project").Marlin has completed a reverse circulation drill campaign designed to explore for Footwall Zone mineralization (sedimentary rock hosted Au mineralized zones) on the north side of Pearce Hill. Results for the first 14 drill holes have been received. The holes confirm that the Footwall Zone mineralization drilled in 2017 beneath the North Vein on Pearce Hill (see press release dated May 4, 2017) continues to the west-northwest for an additional 350 meters from the intercept previously reported from diamond drill hole 17CDDH19 which intersected 1.78 g/t AuEq over 22.75 meters. True width of the mineralized zone varies from 5 to 50 meters. The total drilled strike length has been extended to 525 meters, with drill intercepts demonstrating downdip extents of as much as 200 meters.
Akiba Leisman, Executive Chairman and Interim CEO states that "increasing the strike length and confirming the continuity of the Footwall Zone is another step forward in advancing the Commonwealth Project. These exploration results as well as upcoming metallurgical testing results are critical items as we move Commonwealth towards a construction decision."
The table below summarizes the significant intercepts drilled by Marlin at Pearce Hill discussed in this press release.
| Drill Hole (1) | From (m) | To (m) | Length (m) | Estimated | AuEq | Au (g/t) | Ag (g/t) | Comment |
| 18CRC01 | 0.0 | 6.1 | 6.1 | 6.1 | 0.33 | 0.24 | 14.1 | North Vein Zone |
| 18CRC02 | 4.6 | 24.4 | 19.8 | 17.0 | 0.61 | 0.47 | 21.1 | North Vein Zone |
| 18CRC02 | 27.4 | 33.5 | 6.1 | 5.2 | 0.45 | 0.34 | 18.3 | North Vein Zone |
| 18CRC03 | 0.0 | 7.6 | 7.6 | NA | 0.98 | 0.79 | 30.9 | Probably Colluvium |
| 18CRC04 | 9.1 | 15.2 | 6.1 | NA | 0.38 | 0.33 | 7.4 | Probably Colluvium |
| 18CRC05 | No significant intercepts | |||||||
| 18CRC06 | 0.0 | 15.2 | 15.2 | 15.2 | 0.68 | 0.59 | 15.2 | North Vein Zone |
| 18CRC06 | 24.4 | 30.5 | 6.1 | 6.1 | 0.98 | 0.93 | 8.1 | Footwall Zone |
| 18CRC07 | 12.2 | 24.4 | 12.2 | 12.2 | 0.68 | 0.62 | 9.0 | Footwall Zone |
| 18CRC07 | 35.1 | 48.8 | 13.7 | 13.7 | 0.43 | 0.33 | 17.1 | Footwall Zone |
| 18CRC07 | 59.4 | 79.2 | 19.8 | 19.8 | 0.51 | 0.42 | 15.7 | Footwall Zone |
| 18CRC07 | 100.6 | 106.7 | 6.1 | 6.1 | 0.49 | 0.48 | 2.8 | Footwall Zone |
| 18CRC08 | 36.6 | 86.9 | 50.3 | 50.3 | 0.50 | 0.46 | 6.4 | Footwall Zone |
| 18CRC09 | 67.1 | 76.2 | 9.1 | 8.0 | 0.99 | 0.88 | 17.8 | Footwall Zone |
| 18CRC09 | 82.3 | 88.4 | 6.1 | 5.4 | 0.54 | 0.50 | 7.5 | Footwall Zone |
| 18CRC10 | 41.1 | 67.1 | 25.9 | 25.9 | 0.88 | 0.82 | 9.4 | Footwall Zone |
| 18CRC11 | 18.3 | 30.5 | 12.2 | 9.8 | 0.88 | 0.80 | 12.7 | Footwall Zone |
| 18CRC12 | 10.7 | 18.3 | 7.6 | 7.6 | 0.72 | 0.60 | 19.8 | Footwall Zone |
| 18CRC13 | 16.8 | 21.3 | 4.6 | 4.2 | 0.76 | 0.71 | 8.3 | Footwall Zone |
| 18CRC13 | 27.4 | 38.1 | 10.7 | 9.8 | 1.51 | 1.36 | 23.2 | Footwall Zone |
| 18CRC14 | 36.6 | 45.7 | 9.1 | 7.5 | 1.33 | 1.14 | 31.4 | Footwall Zone |
| (1) | Significant intercept defined as a minimum assay of 0.3 g/t AuEq over a minimum 4.6-meter interval with no more than 1.54 meters of internal dilution below 0.3 g/t AuEq. |
| (2) | Gold equivalent ("AuEq") values at a silver to gold ratio of 160:1. |
A cross section of drill holes 18CRC09 and 18CRC10 can be viewed by clicking HERE.
A cross section of drill hole 18CRC13 can be viewed by clicking HERE.
A plan view map of holes drilled deep enough to test the Footwall Zone with corresponding grade x thickness values can be viewed by clicking HERE.
Dr. Matthew D. Gray. C.P.G., of Resource Geosciences Incorporated, which oversees, directly or indirectly, the Company's exploration programs in Mexico and Arizona, a Qualified Person under the definitions of CSA NI 43-101, has supervised the preparation of the information that forms the basis for the scientific and technical disclosure in this news release.
Notes on Sampling and Assaying
Drill cuttings were continuously sampled from inception to termination of the drill hole. Sample intervals were typically 1.54 meters. Drill holes discussed in this press release were drilled using reverse circulation rigs and center return bits. Previous drill holes at Pearce Hill were started as large diameter PQ (8.5cm) core holes, and were reduced to HQ (6.35cm) only where drilling conditions required. Geologic data was captured into a digital database. One half split of the drill cuttings was collected for analysis and one half was retained in secure on-site storage. Samples were kept in a secured logging and storage facility until such time that they were received on site by representatives of Skyline Assayers and Laboratories ("Skyline"). Sample preparation and analysis of pulps was done in the Tucson, Arizona facilities of Skyline. Gold was analyzed by standard fire assay fusion, 30 gram aliquot, AAS finish, with samples reporting greater than 10 grams per tonne gold re-assayed by fire assay fusion with gravimetric finish. Controls samples consisting of duplicates, standards, and blanks were inserted into the sample stream and analytical results of control samples confirmed reliability of the assay data.
About Marlin Gold
Marlin is a growth-oriented gold and silver mining company focused on the Americas. The company owns three properties located in Mexico and the USA and a portfolio of royalties. Marlin's priority is to profitably operate its La Trinidad Mine, conduct further exploration on its other projects and enhance shareholder value through a strategic relationship with Sailfish Royalty Corp. (TSX-V:FISH). Marlin is backed by a well-funded investor with a successful track record in the resources sector. The La Trinidad Mine in Sinaloa, Mexico declared commercial production on November 1, 2014 and is one of the highest grade open pit heap leach gold mines in Mexico.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary statement regarding forward?looking information
This news release contains "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation statements relating to: the anticipated access to mineralized material, including any potential mining thereof; the timing and scope of certain drilling programs; the receipt of assay results; statements regarding the perceived merit of properties, exploration programs and budgets; anticipated capital expenditures; mineral resource estimates; timelines; strategic plans; and other statements that are not statements of fact. These forward-looking statements are necessarily based upon a number of estimates and assumptions that are based on management's expectations and considered reasonable at the time they are made, including among others: that work proceeds in accordance with the timing and scope anticipated by management and that anticipated market prices for precious and base metals are achieved. Investors are cautioned that all forward-looking statements are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: uncertainties related to raising sufficient financing to fund planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources; risk of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold; and other risks and uncertainties, including those described in the Company's annual management's discussion and analysis filed on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. Unless required by law, Marlin has no intention to and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Marlin Gold Mining Ltd.
Contact
Akiba Leisman, Executive Chairman and Interim CEO
Marlin Gold Mining Ltd.
Telephone: 203-862-7059
E-mail: aleisman@marlingold.com
