Marvel Discovery Corp. (TSX-V: MARV), (Frankfurt: O4T1), (IMTFF: OTC PINKS); (“Marvel” or the “Company”) is pleased to announce it has acquired 420 claims totaling 10,250 hectares located 45 kilometres (“km”) south of Gander, NL, proximal to the boundary between the Exploits Subzone and the Gander Zone of Newfoundland. The new ground lies approximately 10 km east of the highly prospective, northeast trending Dog Bay-Appleton-Grub Line fault system host to Newfound Gold Corp.’s Queensway Gold project where recent drill results intercepted 146.2 gpt Au over 25.6m (TSXV: NFG, see press release dated May 21, 2021). The Queensway Gold Project is currently undergoing a 200,000 m drill program by New Found Gold.
Figure 1. Location of the Marvel Discovery Gander South property relative to the New Found Gold Queensway Project.
Dog Bay-Appleton-Grub Line Fault System
The Property lies proximal to the Dog Bay-Appleton-Grub Line fault system, a crustal scale fault zone that extends from the north coast of Newfoundland 200km southwest through Gander. Structural corridors in the central Newfoundland are intimately associated with recent gold discoveries including the Marathon Gold’s Valentine Gold Project which hosts 6.0 million ounces of gold (https://marathon-gold.com/valentine-gold-project/).
The new land position lies within the Gander Zone northeast along strike from the Exploits Subzone boundary where gold mineralization models are based on analogous structural settings to those at Fosterville in Victoria, Australia (https://exploitsdiscovery.com/projects/). The property lies within a domain of ambiguous geophysical signature that suggests the zone boundaries may be more complicated than regional maps indicate (Figure 2). Preliminary structural interpretation shows the area is characterized by major northeast-trending structures, which parallel the Dog Bay-Appleton-Grub Line fault system and can be traced for approximately 35 km to the southwest and 60 km to the northeast where historical gold occurrences (e.g. Star Track, West Tower, Wing Pond) are observed in proximity to regional-scale granites of the Gander Zone.
Figure 2. Location of the Marvel Discovery claim acquisition relative to the Gander-Exploits Sub-zone boundary.
Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
The QP has not completed sufficient work to verify the historic information on the properties comprising the Gander South property, particularly regarding historical exploration, neighbouring companies, and government geological work. The information provides an indication of the exploration potential of the Gander South property but may not be representative of expected results.