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The Mt Gee deposit, containing about 33,200t of uranium oxide, is in the central part of the northeasterly trending Paralana Mineral System located within the 100% Marathon Resources Ltd (ASX: MTN) owned South Australian tenement EL3258. Marathon is currently drilling at Mt Gee and has completed 3 drill holes of a 5 or 6 hole program and assays will be announced as available.

Continuing its search for data on the Mt Gee deposit, Marathon identified haematitic breccia in drill core from two former Mines Department diamond drill holes MGD 047A and MGD 151 drilled in 1976 in the central eastern part of the Mt Gee deposit, as shown in Figure 2.

The core, which has been stored at the PIRSA core library in Adelaide for most of the time since drilling, has never been cut and assayed. Examination revealed extensive intersections of haematitic breccia in the drill core, i.e., 67m in MGD151 (181.35 - 248.00 m depth) and almost 25 m in MGD 047A (144.80 - 169.70 m depth). Marathon has assayed the diamond drill core from these two holes and the assay laboratory (Amdel) analysis returned significant uranium intersections.

The highest grade intersection was in drill hole MGD 047A, a 21m wide zone of strong uranium mineralisation, between 146m and 167m depth, averaging 0.084% U3O8. This zone included:

- 2m @ 0.103% U3O8 (1.03 kg/t U3O8 from 146m-148m depth)
- 5m @ 0.145% U3O8 (1.45 kg/t U3O8 from 154m - 159m depth)
- 3m @ 0.103% U3O8 (1.03 kg/t U3O8 from 162m - 165m depth)

Drill hole MGD151 intersected a 32m zone of uranium mineralisation between 216m and 248m depth, averaging 0.059% U3O8. This zones included:

- 2m @ 0.094% U3O8 (0.94 kg/t U3O8 from 216m - 218m depth)
- 6m @ 0.079% U3O8 (0.79 kg/t U3O8 from 228m - 234m depth)
- 2m @ 0.091% U3O8 (0.91 kg/t U3O8 from 238m - 240m depth)
- 3m @ 0.107% U3O8 (1.07 kg/t U3O8 from 243m - 246m depth)

Marathon is very pleased with the results as this is additional geological and assay data, which confirms further our mineralisation model and the results of Marathon's exploration, and also that of earlier explorers. The drill core from MGD151 is shown in Figure 3, whereas a detail of haematitic breccia, containing also Cu, polymetallic mineralisation, from MGD 047A.

About MARATHON RESOURCES LIMITED:
Uranium, copper and gold exploration.

Contact:

 
Dr John Santich
Chief Executive Officer
TEL: +61 8 8366 2500


David Waterhouse
Waterhouse IR
TEL: +61 407 880 937


Kevin Skinner
Senior Consultant
FIELD PUBLIC RELATIONS
 
231 South Road
MILE END  SA  5031
Tel:   (08) 8234 9555
Fax:  (08) 8234 9566
Mob: 0414 822 631
kevin@fieldpr.com.au 

Source:
MARATHON RESOURCES LIMITED

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