Marvel entered into a Purchase Agreement to acquire a 100% interest in the Duhamel Property 200 km northwest of the city of Saguenay, Quebec in the Saquenay-Lac-Sain-Jean region. The Duhamel Property consists of nine (9) mineral claims comprising 500 ha located 14 km west of Arianne Phosphate Inc. – Lac a Paul open-pit phosphate mine.
Geology/ Deposit type: Sulphide mineralization associated to mafic magmatic intrusion.
Historical Exploration: Previous exploration on the property carried by Virginia Gold Mines consisted of high definition airborne mag/EM survey, geological mapping, prospecting and drilling. Some preliminary results retrieved from the Quebec Mineral Assessment files indicated drill intersections as follows:
DDH 1279-00-05: 1.27% Ni, 0.24% Cu and 0.12% Co over 3 meters at 17.9 meters depth; 1.27% Ni, 0.33% Cu, and 900 ppm Co over 0.9 meter at 91.2 meters depth.
DDH 1279-00-06: 0.86% Ni, 0.13% Cu and 800 ppm Co over 1.5 meters at 30.7 meters depth.
DDH 1279-01-31: 1237 ppm Ni, 930 ppm Cu and 240 ppm Co over 0.5 meters
DDH 1279-01-34: 0.27% Ni, 0.82% Cu and 0.19% Co over 0.3 meters. All previous work is of a historical nature. The work was conducted prior to implementation of NI 43-101 standards and assay results cannot necessarily be relied upon. Marvel intends to confirm the reported mineralization with the Company’s own sampling program.