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Marathon is compiling exploration data and evaluating the direction of exploration. Priority areas identified as having potential to increase tonnage are (i) immediately outside the Marathon engineered pit and (ii) at the Geordie Lake Deposit, located 14km west of Marathon.
Large blocks of PGM-Cu mineralization extend well beyond the current limits of the Marathon engineered pit. These blocks were not included in the reserves due to economic constraints, yet may represent future mining potential in later stages of mining. In addition, there are several known PGM-Cu mineralized zones on strike from the Marathon deposit that have not been fully explored. Mineralization at Geordie Lake is open down dip and to the north and south, which bodes well for defining new PGM-Cu resources.
Drilling was planned to resume at the Marathon project in late January of 2008. Marathon allocated a budget of approximately $3.8 million for the 2008 campaign. This campaign will be comprised of infill and condemnation drilling and is designed to improve resources and define new resources outside of the current resource pitshell.
Marathon completed a drilling campaign of approximately 40,000 metres. The campaign wrapped up at the end of autumn. This large campaign was designed for condemnation, in-fill and exploration to augment the new resource estimate, which was delivered in late November 2007. Drilling in 2007 focused on (i) mineralized extensions both west and south of the Main Zone; (ii) the high grade W-horizon, and; (iii) within the Malachite Zone.
Initial drilling results from the SG and WD zones, located to the South of the Malachite Zone, were very positive and demonstrate the potential of finding new resources to the South.
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