Of significance in the area is the Hope Brook gold mine which was in production from 1987 to 1997 producing 752,163 ounces of gold plus a copper concentrate. Exploration and resource definition by Coastal Gold Corp who was acquired by First Mining in 2015 has outlined an additional 6.33 million tonnes at an average grade of 4.68 gpt Au for 954,000 ounces of gold in the indicated and inferred categories (https://firstmininggold.com/projects/partnerships/hope-brook-project/).
Marvel’s new land position is hosted within the Exploits Subzone of the central Newfoundland gold belt. The property covers extensions or is proximal to two major structures linked to significant gold prospects (Cape Ray, Matador Mining) and deposits (Hope Brook, First Mining) in southern Newfoundland (Figure 2). Rock lithologies and structures on the property are also related to those associated with Marathon Golds Valentine Gold Deposits, Sokoman’s Moosehead gold project and New Found Gold’s Queensway gold project.
Figure 2. Location of Marvel’s Hope Brook gold property contiguous to First Mining and the Sokoman-Benton joint venture.
Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents on behalf of the Company.
The QP has not completed sufficient work to verify the historic information on the properties comprising the Hope Brook property, particularly regarding historical exploration, neighboring companies, and government geological work. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.