TSX.V : MARV $0.035   |  OTCQB: MARVF $0.026  |  O4T: GR 0,014 € 

MARVEL COMPLETES 3 HOLES AT DUHAMEL, NICKEL-COPPER-COBALT PROJECT NORTH OF QUEBEC CITY

January 23rd, 2024., Vancouver, B.C. – Marvel Discovery Corp. (TSX-V: MARV), (Frankfurt: O4T), (MARVF: OTCQB); (“Marvel” or the “Company”) has partly completed drilling operations on its Ni-Cu-Co (nickel-copper-cobalt) and Ti-V-Cr (titanium-vanadium-chromium) Duhamel property located 350 kilometres (km) north of Quebec City, Que. The company previously announced on Dec. 4, 2023, that crews were being mobilized, but due to warmer temperatures, an increase in water levels caused extreme flooding in nearby creeks and rivers, causing the company to pause drill operations before the Christmas season.

image Post MARVEL COMPLETES 3 HOLES AT DUHAMEL, NICKEL-COPPER-COBALT PROJECT NORTH OF QUEBEC CITY
MARVEL COMPLETES 3 HOLES AT DUHAMEL, NICKEL-COPPER-COBALT PROJECT NORTH OF QUEBEC CITY 4

To date, three drill holes have been completed (813 metres done for total of 1,200 m), which are targeting numerous priority airborne and ground EM (electromagnetic) conductors within the Houliere block. Historical work within the property and surrounding areas have shown these conductors are the primary target horizons.

image 1 Post MARVEL COMPLETES 3 HOLES AT DUHAMEL, NICKEL-COPPER-COBALT PROJECT NORTH OF QUEBEC CITY
MARVEL COMPLETES 3 HOLES AT DUHAMEL, NICKEL-COPPER-COBALT PROJECT NORTH OF QUEBEC CITY 5

Within the first target area, one historical hole drilled in 2000, within this one km long by 400 m wide target zone, intersected 0.64 per cent Ni, 0.29 per cent Cu and 0.06 per cent Co over four m (approximately 2.56 m true width), which included 0.90 per cent Ni, 0.40 per cent Cu and 0.08 per cent Co over 2.66 m (1.71 m true width), and also included 1.55 per cent Ni, 0.31 per cent Cu and 0.14 per cent Co over one m (0.64 m true width) from hole 1279-00-01 (from 21 m to 25 m).

The first hole drilled, DU24-01, intersected a wide, 28.6 m interval of disseminated mineralization from a hole depth of 67.8 m to 96.8 m, and within this are semi-massive stringers and massive sulphide zones ranging from widths of 15 centimetres to 60 cm.

image 2 Post MARVEL COMPLETES 3 HOLES AT DUHAMEL, NICKEL-COPPER-COBALT PROJECT NORTH OF QUEBEC CITY
MARVEL COMPLETES 3 HOLES AT DUHAMEL, NICKEL-COPPER-COBALT PROJECT NORTH OF QUEBEC CITY 6

Duhamel project

For general information, the Duhamel property currently contains seven occurrences of Ni-Cu-Co sulphides and one Fe-Ti-V (iron-titanium-vanadium) iron oxide occurrence, discovered between 1997 and 2001 by previous operators that defined a 13 km long mineralized rock corridor. Drill intercept highlights include 1.27 per cent Ni, 0.33 per cent Cu and 0.12 per cent Co over three metres by Virginia Gold Mines in 2000, which contained massive sulphides. The recalculation of 100 per cent sulphides gave 2.42 per cent Ni over 0.5 m (hole 1279-2001-29 gave 1.4 per cent Ni over 0.5 m). Compilation of historic assessment reports to date reveals more than 30 Ni-Cu-(Co) and four Fe-Ti-(V-Cr) mineral occurrences, which confirms this corridor to be highly prospective for new Ni-Cu-Co discoveries, as well as Fe-Ti-(Cr-V) discoveries.

Further to the compilation of previously filed assessment reports, Marvel recovered from historical data a grab sample (from massive iron-titanium oxides) — the result assaying 0.28 per cent V2O5 associated with 20.8 per cent TiO2 (titanium oxide) and 0.13 per cent Cr203 (chromium oxide).

The Duhamel project is located between Chutes-des-Passes and Pipmuacan Reservoir deformation zones (or areas) included in the central part of the Proterozoic Grenville geological province. The Duhamel property is characterized by the presence of large mafic to ultramafic intrusive rock bodies located in northern margin of the Saguenay-Lac-Saint-Jean (SAGLSJ) anorthosite suite, one of the largest anorthosite intrusive bodies in the world. The Chute-des-Passes-Pipmuacan reservoir areas contains numerous massive sulphide and iron oxide mineralization occurrences recognized and documented by the Quebec government (Sigeom).

Karim Rayani, chief executive officer, states: “Drilling results planned for late 2023 were delayed due to weather events, however we’re pleased with the progress made so early in 2024. All holes to date have intersected our target areas and to see these wide intervals of sulphide mineralization in our first drill hole is a very good sign. There remains a plethora of airborne anomalies to follow up on this project, and we anticipate a very busy exploration season as we follow these up with low-frequency TDEM [time domain electromagnetic] surface surveys. Moving forward we are immediately planning low-frequency BHEM [borehole electromagnetic] surveys on all holes we drill, something never completed in any of the previous exploration campaigns. This will enable us to leave no rock unturned while giving us a greater chance of success by expanding our exploration radius. We remain bullish on nickel and copper prices as supply shortages loom, and demand returns as the push towards electrification and greening of our cities accelerates.”

Qualified person

The technical information contained in this report has been reviewed also by Jean-Paul Barrette, Geo/PGeo, an independent project geologist and consultant. Mr. Barrette is a member of the Ordre des Geologues du Quebec (OGQ, No. 619). Mr. Barrette has sufficient experience (39 years), relevant to the style of mineralization and the type of deposit under study, and the activity undertaken, to qualify as a competent person as defined by National Instrument 43-101 — Standards of Disclosure for Mineral Projects. Mr. Barrette carried out several geological reconnaissance works in the Houliere-Duhamel sector and recently made there a compilation of historical works.

About Marvel Discovery Corp.

Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian-based emerging resource company. The company is systematically exploring its extensive property positions in:

  • Newfoundland: Gander East, Gander South, Victoria Lake and Hope Brook — gold-lithium prospects;
  • Atikokan, Ont.: BlackFly — gold prospect;
  • Elliot Lake, Ont.: East Bull — nickel/copper/platinum group element prospect;
  • Quebec: Duhamel — nickel/copper/cobalt prospect and titanium/vanadium/chromium prospect;
  • Prince George, B.C.: Wicheeda North — rare earth element prospect.
The Company’s website is: https://marveldiscovery.ca/

ON BEHALF OF THE BOARD

Marvel Discovery Corp.

“Karim Rayani”

Karim Rayani

President/Chief Executive Officer, Director

Tel: 604 716 0551 email: k@r7.capital

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met.  Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

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