September 13, 2023, Vancouver, B.C. – Marvel Discovery Corp. (TSX-V: MARV), (Frankfurt: O4T), (MARVF: OTCQB); (“Marvel” or the “Company”) is pleased to announce it has initiated its summer 2023 surface exploration program at the Gander East Property. The focus of the program is to complete a till sampling program over a high priority target associated with north-northeast-trending structures. The priority target is one of several targets that were identified in 2022 by high resolution, helicopter-borne magnetic surveys completed by Marvel (see March 2, 2022, and June 14, 2022, releases for further details). The project is being completed as a follow up to preliminary prospecting and ground truthing which was conducted by the company in late 2022 (see November 9, 2022, release), which identified minimal outcrop and well-developed overburden over the target areas. Further refinement of the targets was completed through review and analysis of geophysical data in preparation for the current program.
Surface work will include till sampling over a Priority 1 target that is associated with north-northeast trending structures. Till sample stations will be collected at 150 meter stations along lines oriented perpendicular to the structures, at 500 meter line spacing. Till sampling will include collection of samples from the B and C horizon. The program was initiated in late August and is anticipated to complete during the month of September. The work is being completed toward exploring the potential for anomalous gold along the structures, and the results from this study will be used to define targets for follow up exploration work. The company interprets the structures at Gander East to be part of the system of faults that bound the GRUB Line, and may represent a splay from the nearby fault system at Queensway where Newfound Gold has made multiple discoveries.
Mr. Karim Rayani, Chief Executive Officer, commented, “New Found Gold Corp. continues to release impressive results from their Queensway Project and continues to show extensive mineralization over a vast area. We initially staked this ground based on the structures we had interpreted within open ground, next to NFG, and continual success within the camp is proof positive of the importance of these deep crustal scale features in the role of movement of mineralizing fluids. The structures we have interpreted from our high-resolution Airborne Magnetic surveys shows several 2nd and 3rd order splays off regional scale fault Zones and our focus is the exploration of these highly prospective structural trends. While the gold market remains stressed, there remains a bullish undertone to all precious metals as there is an increasing lack of confidence in fiat-denominated currencies. We believe that 2024 is shaping up to be a very bullish market for gold.”
The Gander East Project consists of 274 claims totaling 6,850 hectares, which have been strategically positioned adjacent to New Found Gold’s (“NFG”) Queensway Project and along strike from both Exploits Discovery Middle Ridge Project and Sassy Resources Gander North Project (Figure 1). The Queensway Project is undergoing a 400,000 m drill campaign targeting 20 km of prospective strike along the regional scale Appleton and Dog Bay fault zones (Figure 2). A recent news release from NFG dated November 2, 2022, reported intercepting 33.8 g/t Au over 2.35m, 37.4 g/t over 2.10m, and 22.8 g/t Au over 2.20m at their Lotto North Vein situated within a brittle fault zone developed proximal to the Appleton Fault Zone (released November 2, 2022). Parallel structures to those hosting gold at the Queensway and Middle Ridge project areas intersect the Gander East Project, including a segment of the Gander River Ultrabasic Line (GRUB Line) that defines the easternmost bounding structure of the regionally prospective Exploits Subzone (Figure 3). Furthermore, the Gander East Project lies along strike to the south of a new regional gold trend defined by Sassy Resources as a part of their Gander North Project. The structure is integral to the numerous gold occurrences and drill intersections within the Exploits Subzone.
Figure 1. Location of Marvel’s Gander East gold property proximal to New Found Gold’s Queensway Property.
Figure 2. Comparison of high-resolution magnetic survey to existing regional magnetic government overage. A) Existing regional magnetic signature. B) Juxtaposition of New Found Gold Property and Marvel Gander East property over regional magnetics. C) Area of high-resolution magnetic survey by Marvel over regional government data D) Pronounced difference of high-resolution magnetic signature compared to pre-existing regional government data.
Figure 3. Preliminary structural interpretation of the high-resolution magnetic survey showing 2nd and 3rd order structures conducive for trapping gold-bearing hydrothermal fluids.
Qualified Person
The technical content of this news release has been reviewed and approved by Greg Robinson, 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 North, Gander South, Victoria Lake, Baie Verte, and Hope Brook – Au Prospects)
- Atikokan, Ontario (BlackFly – Au Prospect)
- 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: 604 716-1036 email: k@r7.capital
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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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