MARVEL DRILLS THREE HOLES AT BLACKFLY, INTERSECTING VISIBLE GOLD - Marvel Discovery Corp.

MARVEL DRILLS THREE HOLES AT BLACKFLY, INTERSECTING VISIBLE GOLD

July 8, 2021. Vancouver, B.C. – Marvel Discovery Corp. (TSX-V: MARV), (Frankfurt: O4T1), (MARVF: OTCQB); (“Marvel” or the “Company”) is pleased to report it has received 168 assay results for its third of three rounds from its 2021 prospecting and mapping program on the Blackfly Gold Project near Atikokan, Ontario.  The Marvel geological team has conducted the initial prospecting, field mapping and sampling, and started trench sampling.  A total of 303 samples were submitted for analyses at Actlabs of Thunder Bay, Ontario. Surface samples taken in recent trenching are pending.

Third round of 2021 surface sample highlights (see Figure 1):

  • 29 samples returned assays greater than 500 ppb gold;
  • 12 samples graded from 1.00 g/t and up to 2.99 g/t gold;
  • 9 samples in excess of 3.00 g/t gold; and,
  • 3 samples assayed greater than 30 g/t gold.

Mr. Karim Rayani, President and Chief Executive Officer commented, “Marvel’s Blackfly Gold Project is strongly living up to its potential.  The surface samples reflect the wide variety of gold targets – some we knew of, and some are shaping up to be first time discoveries.  The diamond drilling is now well underway and visually the core is looking very promising.”

Marvel’s Blackfly Gold Project

The Property is located in the developing Atikokan gold mining camp along and within the Marmion Lake Fault Zone, approximately 13.6 kilometers (“km”) southwest of Agnico Eagle’s Hammond Reef Gold Deposit.

Assessment file records indicate that the original Blackfly gold discovery was made in 1897, making the occurrence one of the earliest found in the Atikokan gold mining camp.  The project’s 45-foot shaft was sunk in 1898 shortly after gold was discovered.  Several companies have added to the database of the Property including: Rebair Gold Mines Ltd. (1945 to 1948), Steeprock Mines Ltd. (1949 and again in 1961), Aavdex Corporation (2004) and TerraX Minerals Inc. (2009 to 2012).

Gold mineralization on the Blackfly Gold Project is occurring in several hosts and with varied mineralized styles, ranging from traditional gold in quartz veins to gold occurring in highly altered host rocks.  Mineralization is developed within altered northeast trending, steeply dipping structures that obliquely cut the regional foliation.

The first 3 drill holes are now complete and core logging is underway.  The field team believes that gold zones were reached in each hole with visible gold found in a vein intersected at a depth of 8m in drill hole BF21-15.

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Table 1: List of select samples taken during the 2021 exploration work on the Blackfly Gold Project. Legend of units; GRDR – granodiorite, GAB – gabbro, and QV – quartz vein.  Note – grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.

2021 Exploration Program

The 2021 exploration program on the Project is a continuation of the work initiated in 2020 that included a compilation of historical information and reports and completion of its high-resolution airborne magnetics and time-domain electromagnetic data collection over 203 line-kilometers at 100m spacing.  Several geophysical anomalies were identified and targets for follow-up were recommended.  Marvel’s geological team began the 2021 program work of prospecting, bedrock mapping and rock sampling.  Trenching is being done for further definition of the gold mineralization associated with the known anomalies and geological structures.  Diamond drilling is underway with 16 drill holes planned for the summer field season.  

QA/QC and Sampling Protocols

Samples collected in 2021 were analyzed by Activation Laboratories, an ISO/IEC 17025:2017 accredited facility.  Samples were collected in the field and transported and stored in Falcon’s secure facility located near Atikokan, Ontario until their transportation by Falcon personnel to Activation Laboratories’ sample preparation facility in Thunder Bay, Ontario. Gold was analyzed by fire assay with an Atomic Absorption finish; samples with >5 g/t Au were re-analyzed by fire assay with gravimetric finish. Certified gold reference standards and blanks were regularly inserted into the sample stream. Gold results herein varied from below detection to 52.50 g/t. No quality control/quality assurance issues were noted with the results reported herein.

Figure 1:      Plan of the Blackfly Gold Property showing the locations and surface sample grade ranges for the 2021 exploration program.

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MARVEL DRILLS THREE HOLES AT BLACKFLY, INTERSECTING VISIBLE GOLD 3

Qualified Person

The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

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 (Slip, Gander South, Victoria Lake and Hope Brook – Au Prospects)
  • Atikokan, Ontario (BlackFly – Au prospect)
  • Red Lake, Ontario (Camping Lake – Au prospect)
  • Elliot Lake, Ontario (Serpent River/Pecors –Ni-Cu-PGE discovery) & (Uranium- REE’s)
  • Elliot Lake, Ontario (East Bull – Ni-Cu-PGE prospect)
  • Quebec (Duhamel –Ni-Cu-Co prospect &  Titanium, Vanadium, and Chromium prospect)
  • Prince George, British Columbia (Wicheeda North – Rare Earth Elements 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. 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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