The Slip Project is located within 17 km of the Newfound Gold Queensway Project. An analysis of the regional magnetic data suggests the Slip Project lies within a similar structural setting as the New Found Gold’s Queensway Project making this project a high priority for Marvel. Recent exploration on the Slip Project has uncovered surface mineralization with grab samples as high as 44.5 g/t Au and a detailed, systematic exploration program is now underway.
The Slip Gold Project is within the Exploits Subzone and hosts gold mineralization within altered intrusive rocks and quartz veins historically sampling up to 44.5 g/t Au on surface. The project is located 17.5 kilometers northwest of New Found Gold’s Queensway Gold Project which boasts historic drill intercepts of 92.96 g/t Au over 19 meters and a high-grade historic gold resource based on 14,325 m of drilling by Noranda in the 1980’s totaling 78,000 ounces of gold averaging 10.3 g/t. The project lies along a major regional structural thrust feature known as the Dog Bay Line and displays similar characteristics and gold values as the aforementioned historic values and recent lithological and structural data has identified possible orogenic epizonal-type deposits.
Marvel has contracted Balch Exploration Consulting Inc. (BECI) to conduct a high-resolution magnetic gradiometer survey. These survey results will allow for a detailed litho-structural analysis of the entire project area. BECI provides a state-of-art acquisition system with an airframe design based on a high drag principle to keep the sensors on-line and without the need for magnetic compensation resulting in the highest quality total magnetic intensity and gradiometer data. The survey will be flown along 100m spaced lines with a sensor height of 30m and sample intervals of 3-5m. Real-time differential GPS accuracy is accurate to within 3-5m, allowing for direct ground follow-up without the need for additional ground geophysics, which often requires line cutting.
Marvel has contracted Roland Quinlan of Edge Exploration, one of the most highly regarded and well-known prospectors in Newfoundland. Roland will begin a systematic prospecting program of the entire Slip property.