Marathon Gold Corporation

09:51 AM EST - Marathon Gold Corporation : Announced the excellent results from an updated independent Preliminary Economic Assessment study on its 100% owned Valentine Lake Gold Camp that was led by John T. Boyd Company and Lycopodium Minerals Canada. The new PEA optimizes the development of the Valentine Lake Gold Camp mineral resource by open pit mining, and gold recovery by a combination of a milling circuit and heap leaching, incorporating gravity and flotation circuits with leaching of the concentrate and tails. The study is based on an initial 12-year mine life and produced an after- tax Net Present Value of $493 million using a 5% discount rate. The financial model shows an after- tax Internal Rate of Return of 30% and a capital payback period of 2.5 years. Marathon Gold Corporation shares T.MOZ are trading up $0.03 at $0.79.