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Marvel Receives First Set of Drill Permits At Houliere-Duhamel Nickel-Copper-Cobalt Property, Lac St. Jean, QC

August 09, 2023. Vancouver, B.C. – Marvel Discovery Corp. (TSX-V: MARV), (Frankfurt: O4T), (MARVF: OTCQB); (“Marvel” or the “Company”) is pleased to report the company has received its first drill permit on Duhamel Ni-Cu-Co and Ti-V-Cr property (the ‘Property’) located 350 kilometres (km) north of Quebec City, QC (Figure 1). Following the interpretation of the TDEM and magnetic airborne survey, Marvel increased its land position in the Saguenay-Lac-Saint-Jean Anorthosite Suite from 42 claims to 102 claims for a total of 5,300 hectares (see press release dated February 15, 2022).

Marvel has completed extensive work to date on the Duhamel project which includes flying the entire property with airborne TDEM and magnetic and compilations of all historical data as it prepares for an inaugural drilling campaign on the property. The Company intends to drill up to 15 holes totaling 2000 meters targeting both the Houliere and Duhamel Zones.

image Post Marvel Receives First Set of Drill Permits At Houliere-Duhamel Nickel-Copper-Cobalt Property, Lac St. Jean, QC

Figure 1. Regional location of the Duhamel Property

Late-off time domain TDEM response anomalies have outlined 7 (seven) linear target trends (A through G) that strike northwest-southeast for several kilometres.

image 1 Post Marvel Receives First Set of Drill Permits At Houliere-Duhamel Nickel-Copper-Cobalt Property, Lac St. Jean, QC

Figure 2. Late-off time TDEM response anomalies on the Duhamel Ni-Cu-Co Property.

These Late-off time domain electromagnetic (TDEM) responses coincide well with the edges of magnetic highs, making them targets of high merit for massive sulphides (Figure 2). The compilation efforts have shown precisely that all known massive to semi-massive sulphide occurrences occur within two of these trends. Beyond five (5) zones with same geophysical targets remain largely under unexplored.  

Geophysique TMC has been contracted to perform Low Frequency Time Domain Electromagnetic surveys over the highest priority target areas. The numerical modeling of these results added of the historical data will be utilized in 2023 in real-time to plan the first drill-holes on this project.

Mr. Karim Rayani, Chief Executive Officer, commented, “An unprecedented fire season throughout much of Quebec has resulted in unanticipated exploration delays for many explorers in the province and we are no exception. We have taken this down-turn to solidify relations with our First Nations communities and finalize geological compilations of our property positions. We are now happy to report that the field crews are mobilized to the Duhamel Property, and we are excited to start the first ever surface low frequency TDEM surveys on this property. This exploration technique is strongly utilized for nickel explorers. The borehole TDEM surveys in drillhole will be utilized likewise to prioritize our focus to the highest conductance target.  We are very excited to start our first drilling on Duhamel Property.”

The Duhamel Property

The Duhamel project is located between Chutes-des-Passes and Pipmuacan Reservoir deformation zones (or areas) included in central part of Proterozoic Grenville Geological Province (Figure 2). 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 sulfide and iron oxide mineralization occurrences recognized and documented by the Quebec government (Sigeom, Figure 3).

image 2 Post Marvel Receives First Set of Drill Permits At Houliere-Duhamel Nickel-Copper-Cobalt Property, Lac St. Jean, QC

Figure 3. Ni‐Cu‐Co and Fe‐Ti‐P‐V mineral occurrences on the Chute-des-Passes and Pipmuacan Areas (modified from Hébert et Cadieux, 2002)

The Duhamel Property currently contains seven (7) occurrences of Ni-Cu-Co sulphides and one (1) Fe-Ti-V iron oxide occurrence discovered between 1997 to 2001 by previous operators who defined a 13 km long mineralized rock corridor (Figure 4). Drill intercept highlights include 1.27% Ni, 0.33% Cu, and 0.12% Co over 3.0 meters by Virginia Gold Mines in 2000 that contained massive sulfides. The recalculation of 100% sulfides from gave 2.42% Ni over 0.5m (hole 1279-2001-29 gave 1.4% Ni over 0.5m). Compilation of historic assessment reports to date reveals more than thirty (30) Ni-Cu (Co) and four (4) 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% V2O5 associated with 20.8% TiO2 and 0.13% Cr203.

image 3 Post Marvel Receives First Set of Drill Permits At Houliere-Duhamel Nickel-Copper-Cobalt Property, Lac St. Jean, QC

Figure 4. Cu-Ni-Co and Fe-V-Ti-Cr mineral occurrences in Houliere-Duhamel property (Modified from SIGEOM, 2023)

Qualified Person

The technical information contained in this report has been reviewed also by Jean-Paul Barrette Géo/ P.Geo, is an independent project geologist and consultant. Mr. Barrette is a member of the Ordre des Géologues du Québec (OGQ, # 619). Mr. Barrette has sufficient experience (39 years) and 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 (Slip, Gander North, Gander South, Victoria Lake, 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 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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