VANCOUVER, BC / ACCESSWIRE / July 27, 2021 / Marvel Discovery Corp. (TSX-V:MARV), (Frankfurt:O4T1), (MARVF:OTCQB); ("Marvel" or the "Company") is pleased to report it has completed a heliborne magnetic and TDEM survey over the Duhamel Ni-Cu-Co and Ti-V-Cr property (the ‘Property') located 350 kilometres (km) north of Quebec City, QC (Figure 1). The combined heliborne survey was completed in May 2021 by Prospectair Geosurveys of Gatineau, QC over the entire 2,300 hectare land position consisting of 342 line km at 100 metre (m) spacings.
Figure 1. Regional location of the 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 largestanorthosite 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).
Figure 2. Geology of the Northern part of the Saguenay‐Lac‐Saint‐Jean Anorthosite Suite and location of interest area (modified from Hébert et als, 2009).
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. 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.
Figure 4. Regional geology, structure, and mineral occurrences of the Duhamel property, included significant mineralized intervals of 2000 and 2001 diamond drilling programs (Ref. SIGEOM-MERNQ).
Following receiving the final magnetic and TDEM products, Marvel will initiate a full interpretation of the data integrating geology, structure, and mineralization. Targets of high merit will be ground-truthed through prospecting, mapping, and sampling. The result of these endeavors will vector diamond drilling to those targets of high potential to host significant mineralization.
Effective immediately Gary Musil has tendered his resignation as company Chairman and is stepping down from the board of directors. The resignation is due to personal reasons. The board of Directors thanks Mr. Musil for his dedication, leadership, and service to the company.
Mr. Karim Rayani, President and Chief Executive Officer commented, "We are eagerly waiting for the results of the heliborne survey. The Duhamel Property is a fertile host for Ni-Cu-Co massive sulphides and iron Ti-V-Cr mineralization. Upon completing interpretation, we will follow-up with boots on the ground and select our best targets for diamond drilling. Secondly, I would also like to personally thank Gary Musil for 20 plus years of valuable service, and contributions. We wish him well in his future endeavors."
The technical content of this news release has been reviewed and approved by Jean-Paul Barrette, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects and accumulated numerous years experience in exploration and drilling campaigns on nickel-copper mineralizations hosted in mafic and ultramafic rock bodies within Grenville Province in Québec.
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 South, Gander North, Victoria Lake and Hope Brook - 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/
Marvel Discovery Corp.
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
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SOURCE: Marvel Discovery Corp.