With 40% of the world's known uranium reserves, Australia has huge potential to meet continued growth in uranium demand and Marathon's projects are set to supply some of this need.
The Mt Gee project is located within the Paralana Mineral System of South Australia, a uranium-rich state which is home to the world's largest uranium deposit at Olympic Dam. Mt Gee has an indicated and inferred resource of 46.1 million tonnes averaging 651ppm U3O8 (cut-off grade 300 parts per million), yielding 30,030 tonnes of contained U3O8.
Marathon's portfolio also includes highly prospective copper-gold-uranium properties in the Gawler Craton of South Australia and first class copper-gold and base metal (silver-lead-zinc) projects in the Adelaide Geosyncline in South Australia and a prospective gold project in the Moyston Fault Zone in western Victoria.
Marathon also has a joint venture over tenements in central South Australia with listed uranium explorer UraniumSA Ltd (ASX:USA), in which the company holds a 7% stake.
On 20 April 2007 Marathon announced a joint venture agreement with Primary Resources Limited (ASX:PRZ) allowing Marathon to earn up to 70% by spending $3.25 million within five years in Primary's Warburton project in Western Australia. The venture will extend Marathon's uranium and polymetallic exploration activities in the State, with the tenements covering an area of over 1,000 square kilometres.
Marathon Resources listed on the Australian Securities Exchange on 15 March 2005, under the stock code of MTN.
