VANCOUVER, BC / ACCESSWIRE / October 28, 2021 / Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)(OTCQB:MARVF); (the "Company") reported on April 20, 2021 it had expanded its footprint in the Rocky Mountain Rare-Earth Metals Belt. The Company entered into an agreement to purchase two claim groups, located approximately 85km NE of Prince George, B.C. The Wicheeda North property is located 5km northeast from Defence Metals Wicheeda Rare Earth (REE) Project which has an indicated mineral resource of 4,890,000 tonnes averaging 3.02% LREO (Light Rare Elements) and an inferred mineral resource of 12,100,000 tonnes averaging 2.90 LREO (https://defensemetals.com/project/). Defence Metals just announced a second drill was being mobilized to expediate their resource expansion. Marvel and through Power One Resources one of our equity holdings we control one of the largest land packages adjacent to Defence Metals ground.
Karim Rayani, President Chief Executive Officer, commented, "Geophysical studies show the Wicheeda North shares similar geology and structures as our neighbor Defence Metals. Defence is aggressively working to expand their resource - we are well positioned in the area and look forward to commencing our inaugural exploration program once we have reviewed all our newly acquired datasets. Our exploration plans include new high-resolution aeromagnetic surveys and to utilize AI (artificial intelligence) algorithms to assist with the prioritization of target areas. We are thrilled to be involved in the REE sector, including what I like to call Space Metals. This further solidifies Marvel as a multi-commodity resource company."
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 Defense Metals Wicheeda REE Property is located in the Foreland Belt of the Canadian Cordillera, within the structurally dominant NW-trending Rocky Mountain Trench. The Rocky Mountain Trench is recognized for the occurrence of several Paleozoic carbonatite-syenite intrusion-related complexes that were geologically deformed, tilted, and transported to the east in thrust panels. The REE-enriched carbonatites located on the Defense Metals property is part of a narrow, elongate, southeast-trending intrusive carbonatite-syenite complex utilizing a structural panel within sedimentary sequences of the Cambrian to Ordovician Kechika Group.
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. Mineralization and REE deposits described above are not necessarily indicative of the mineralization on the Property.
Marvels Wicheeda North Property, consists of six mineral claims, which encompass 2135 ha, immediately northwest of Defense Metals Wicheeda Property, which hosts the Wicheeda Carbonatite. This brings the company's total land holdings within the Wicheeda Rare Earth Metal Belt to 4,423 ha covering a total of 18 claims. Preliminary interpretation of the regional magnetic fabric by Marvel indicated the Property contained a distinct oval magnetic feature underpinning Marvel's acquisition of the ground. Similar magnetic features are prominent on the Defense Metals REE Project, interpreted to be consistent with the carbonite host to their REE mineralization.
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. Space metals, and various rare earth metals such as Niobium are known for their high melting point withstanding extreme heat and have direct applications in nuclear and space flight.
The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
The QP and the Company has not completed sufficient work to verify the historic information on the properties comprising the Great Burnt property claim group particularly regarding historical exploration, neighbouring companies, and government geological work.
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, Baie Verte, 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.
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.