Marvel Discovery Corp. (TSX-V: MARV), (Frankfurt: O4T1), (IMTFF: OTC PINKS); (the “Company”) is pleased announce that it has entered into a purchase agreement for two claim groups, located approximately 85 km northeast of Prince George, British Columbia.
The properties are located within an approximately 40 km long belt of carbonatite and related rocks, including the Wicheeda Carbonatite – Rare Earth Element (REE) Project at the northwest end and the Cap Carbonatite – Rare Metal (RM) Project near the southeast end. The Wicheeda Rare Metal Belt (WRMB) covers a multitude of REE and RM bearing carbonatites and syenites that form as either elongate to elliptical or sub-circular bodies intruding Proterozoic and/or Paleozoic sedimentary rocks. No carbonatite occurrences have been documented on the Company’s properties to date; however, the geology is considered favourable to host such mineralization styles associated with carbonatites.
Carbonatite-related rocks are exceptionally rare, with less than 700 complexes know worldwide. They are a major host for rare metals, such as niobium and tantalum, and rare earth elements (REE’s), and are also known to host economic concentrations of copper, gold and other base metals. The world’s largest niobium mine, Araxa in Brazil, and several of the world’s largest rare earth element deposits, including Lynas Corporation’s Mt. Weld deposit in Australia and MP Material’s Mountain Pass Deposit in the United States, are all hosted by carbonatites.
Wicheeda North Property
The Wicheeda North Property, the main property of interest, consists of six mineral claims, which encompass 2135.6 ha, immediately northwest of the Wicheeda Property, which hosts the Wicheeda Carbonatite, currently being explored by Defense Metals Corp.
The Wicheeda Carbonatite Deposit, held by Defense Metals Corp., is host to an indicated resource of 4.89 million tonnes (Mt) at 3.02% light rare earth oxide (LREO) and an inferred resource of 12.1 Mt at 2.90% LREO, using a cut-off grade of 1.5% total metal (see “Technical Report on the Wicheeda Property, British Columbia, Canada” with an Effective Date of June 27th, 2020). Management cautions that past results or discoveries on proximal properties (i.e. the Wicheeda Carbonatite Deposit) may not necessarily be indicative to the presence of mineralization on the Company’s properties (i.e. Wicheeda North).
The property was originally acquired to cover a distinct, oval, aeromagnetic feature. The magnetic feature is flanked by two areas of above-background magnetics, indicating a complex magnetic environment, similar to that observed at Wicheeda.
Two additional claims totaling about 113 ha, are located within the south-central parts of the WRMB.
The projects were acquired from Zimtu Capital Corp. and prospecting associates for a 100% interest for a one-time cash payment of $22,500.
Within the USA, the recent announcement of $2 Trillion USD of green infrastructure spending and jobs plan will focus on modernizing and electrifying the US energy grid to handle modern electric vehicles that will result in a carbon-neutral economy by 2035. In order to facilitate this transition, a dramatic surge in demand for green energy metals and minerals will take place. These include light rare earth elements such as neodymium and praseodymium (used in the creation of permanent magnets), niobium, and copper. Marvel Discovery Corp. is actively positioning itself to ensure it is well placed to capitalize on this growing market.