VANCOUVER, BC / ACCESSWIRE / June 8, 2021 / Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)(OTC PINK:IMTFF); ("Marvel" or the "Company") is pleased to announce it has acquired 420 claims totaling 10,250 hectares located 45 kilometres ("km") south of Gander, NL, proximal to the boundary between the Exploits Subzone and the Gander Zone of Newfoundland. The new ground lies approximately 10 km east of the highly prospective, northeast trending Dog Bay-Appleton-Grub Line fault system host to Newfound Gold Corp.'s Queensway Gold project where recent drill results intercepted 146.2 gpt Au over 25.6m (TSXV: NFG, see press release dated May 21, 2021). The Queensway Gold Project is currently undergoing a 200,000 m drill program by New Found Gold.
Figure 1. Location of the Marvel Discovery Gander South property relative to the New Found Gold Queensway Project.
Dog Bay-Appleton-Grub Line Fault System
The Property lies proximal to the Dog Bay-Appleton-Grub Line fault system, a crustal scale fault zone that extends from the north coast of Newfoundland 200km southwest through Gander. Structural corridors in the central Newfoundland are intimately associated with recent gold discoveries including the Marathon Gold's Valentine Gold Project which hosts 6.0 million ounces of gold (https://marathon-gold.com/valentine-gold-project/).
The new land position lies within the Gander Zone northeast along strike from the Exploits Subzone boundary where gold mineralization models are based on analogous structural settings to those at Fosterville in Victoria, Australia (https://exploitsdiscovery.com/projects/). The property lies within a domain of ambiguous geophysical signature that suggests the zone boundaries may be more complicated than regional maps indicate (Figure 2). Preliminary structural interpretation shows the area is characterized by major northeast-trending structures, which parallel the Dog Bay-Appleton-Grub Line fault system and can be traced for approximately 35 km to the southwest and 60 km to the northeast where historical gold occurrences (e.g. Star Track, West Tower, Wing Pond) are observed in proximity to regional-scale granites of the Gander Zone.
Figure 2. Location of the Marvel Discovery claim acquisition relative to the Gander-Exploits Sub-zone boundary.
Karim Rayani, President and Chief Executive Officer of Marvel Discovery Corp. commented, "The Gander South property compliments the Victoria Lake and Slip Gold projects already under the Marvel umbrella in Central Newfoundland. This adds 10,000 plus key hectares adjacent to Newfound Golds Queensway project. Marvel continues to add shareholder value by building an impressive portfolio of holdings - we are looking forward to commencing our field work programs in Newfoundland."
Qualified Person
Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
The QP has not completed sufficient work to verify the historic information on the properties comprising the Gander South property, particularly regarding historical exploration, neighbouring companies, and government geological work. The information provides an indication of the exploration potential of the Gander South property but may not be representative of expected results.
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:
- Exploits Zone, Newfoundland (Slip and Victoria Lake - 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)
- 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: [email protected]
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Marvel Discovery Corp.