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Resource Developer Discovers 'More Gold in the Bog'
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Eric Zaunscherb, an analyst with Canaccord Genuity, reviewed and interpreted this company's recent drill results.

In the field.

In an April 4 research note, Canaccord Genuity analyst Eric Zaunscherb reported that Marathon Gold Corp. (MOZ:TSX; MGDPF:OTC.MKTS) released the stepout drill results from the Marathon gold deposit and Sprite zone bog area, which "provide further evidence of a large-scale gold system and the possibility of expanding the resource."

The findings also reveal "encouraging high grades" and confirm the presence of gold mineralization along the approximately 3.5 kilometer strike between the Marathon deposit and Sprite zone in the Valentine Lake gold camp.

Specifically, hole MA-18-285 encountered 14.68 grams per ton gold over 8 meters at depth, indicating continuity of previous high-grade mineralization. Hole VL-18-661, in "the gap between Marathon and Sprite," hit 4.11 grams per ton gold over 7 meters closer to surface. "These results from the swampy area, where minimal historic drilling has occurred, compare favorably to previous drill results," Zaunscherb explained.

Overall, the additional high-grade results at depth in the Marathon deposit "continue to support the possibility of an underground scenario," he added.

Marathon finished its winter drill program, but assays are outstanding for six Marathon infill holes and seven bog/gap holes.

Zaunscherb highlighted that Marathon Gold continues to trade at a discount relative to peers on a normalized, or 5%, price:net asset value basis, which is "unwarranted in our view due to the low sovereign risk of Newfoundland and the potential scale and resource growth of this project." Additionally, Marathon is an attractive takeout target, he said.

Canaccord Genuity has a Speculative Buy rating and a CA$1.60 per share price target on Marathon Gold, whose stock is trading now at around CA$0.96 per share.

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1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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Disclosures from Canaccord Genuity, Marathon Gold Corp., Flash Update, Apr. 4, 2018

Analyst Certification: Each authoring analyst of Canaccord Genuity whose name appears on the front page of this research hereby certifies that (i) the recommendations and opinions expressed in this research accurately reflect the authoring analyst’s personal, independent and objective views about any and all of the designated investments or relevant issuers discussed herein that are within such authoring analyst’s coverage universe and (ii) no part of the authoring analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the authoring analyst in the research.

Analysts employed outside the US are not registered as research analysts with FINRA. These analysts may not be associated persons of Canaccord Genuity Inc. and therefore may not be subject to the FINRA Rule 2241 and NYSE Rule 472 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account.

Required Company-Specific Disclosures (as of date of this publication)

Marathon Gold Corporation currently is, or in the past 12 months was, a client of Canaccord Genuity or its affiliated companies. During this period, Canaccord Genuity or its affiliated companies provided investment banking services to Marathon Gold Corporation.

In the past 12 months, Canaccord Genuity or its affiliated companies have received compensation for Investment Banking services from Marathon Gold Corporation.

In the past 12 months, Canaccord Genuity or any of its affiliated companies have been lead manager, co-lead manager or co-manager of a public offering of securities of Marathon Gold Corporation or any publicly disclosed offer of securities of Marathon Gold Corporation or in any related derivatives.

Canaccord Genuity or one or more of its affiliated companies intend to seek or expect to receive compensation for Investment Banking services from Marathon Gold Corporation in the next three months.

An analyst has visited the material operations of Marathon Gold Corporation. Partial payment was received for the related travel costs.

Up-to-date disclosures may be obtained here

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