38 www.resourceworld.com
J U N E / J U L Y 2 0 1 9
Canada's Maritimes
Lots of action and new discoveries
by Peter Kennedy
IN A TOUGH MARKET FOR GOLD MINING, IT IS A RARE COMPANY THAT CAN AFFORD TO DEVELOP A
KEY PROJECT WITHOUT HAVING TO WORRY ABOUT HOW STOCK MARKETS ARE PERFORMING. BUT
THAT'S EXACTLY THE POSITION THAT MARATHON GOLD CORP. [MOZ-TSX, OTC-MGDPF] FINDS ITSELF
IN AS IT OVERSEES THE DEVELOPMENT OF THE VALENTINE LAKE GOLD PROPERTY IN
CENTRAL NEWFOUNDLAND.
M
arathon is in this situation because
the project is located in a province
that remains one of the world's
top jurisdictions for mineral exploration.
It also has financial backing from Franco
Nevada Mining Corp. [FNV-TSX, NYSE],
a gold royalty specialist that recently agreed
to invest $18 million to acquire a 2% net
smelter return royalty in Valentine Lake.
Proceeds will allow Marathon to fast-
track completion of a Prefeasibility Study
for a project that hosts a global gold
resource of 4 million ounces and may be
capable of producing 225,100 ounces of
gold over life span of at least 12 years. If
all goes according to plan, Valentine Lake
will create about 300 high paying jobs,
helping to replace the ones that were lost
when Teck Resources Ltd. [TECK.B-TSX;
TECK-NYSE] closed its Duck Pond gold
mine in 2015.
