VANCOUVER, BC / ACCESSWIRE / January 11, 2022 / Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)(OTCQB:MARVF); (the "Company") is pleased to announce a corporate update letter to shareholders in an address from its Chief Executive Officer, Karim Rayani.
Marvel Discovery has had a very successful 2021 and is readying itself for a very busy 2022. We are well positioned for success as we embark on a very busy exploration year ahead of us. In keeping with Marvel's many successes during the last year I wanted to outline our 2021 achievements. My commitment remains the same to our Company since I first day I signed on as Chief Executive Officer. My focus is and always has been on creating shareholder value and I have presented our stakeholders a rare blend of opportunities to participate in more than one metal or commodity. I'm thrilled with the progress we have made in such a short period of time, and we look forward to continuing that success into 2022.
At Marvel, we pride ourselves on thinking outside the box. We understand the competitive market out there for properties of strong merit for success, we have a clear and defined business model. We are positioning Marvel to serve as an incubator of projects and securing teams with a proven success methodology.
On February 4th, 2021, the Company completed a management reorganization and rebranding from International Montoro to Marvel Discovery Corp. We have completed our first spin out on our nickel-copper-PGE project, the Serpent River Pecors which has rewarded shareholders with a healthy share dividend. The Company has further announced it has entered the Uranium space at Key Lake, Saskatchewan within one of the highest-grade Uranium producing regions in the world, the Athabasca Basin. The Company is waiting on final TSX.V approval to move forward.
Newfoundland remains a hotspot for exploration and new discoveries. Geological and structural understanding of the Central Newfoundland gold belt has leapt forward 10-fold compared to 20 years ago. Imagine starting to explore the Abitibi Subprovince from Timmins to Val d'Or 100 years ago before it produced 250 million ounces of gold and 400,000,000 million tonnes of base metal ore. The Central Newfoundland gold belt is as large as the Abitibi, and has although not the same age, has a similar structural birth as the Abitibi.
In late 2020 Marvel acquired its first claims in Central Newfoundland called the Slip and Victoria Lake projects. This set-in motion a chain of events that have led us to where we are today as one of the largest landholders in Newfoundland contiguous to projects with defined resources.
At Hope Brook in Central Newfoundland, our ground is directly tied on to First Mining, Benton-Sokoman, and Matador Resources deposits, these companies trade at a significant market capitalization compared to Marvel. At Victoria Lake, we have expanded our holdings to over 10,000 hectares tying on to Marathon Golds deposit which is northern Atlantic's largest gold resource of 4 million ounces.
Below is a recap of significant land acquisitions Marvel has made in the Central Newfoundland gold belt.
The Slip Project 149 Claims 3,725 Hectares
The Slip Project lies within the Exploits subzone and contains historic sampling of up to 44.5 g/t on surface. The property lies 17.5km northwest of New Found Golds Queensway Project and discovery. The project lies on the Dog Bay line and displays similar gold mineralization characteristics of the area.
Victoria Lake Gold-Silver 403 Claims 11,000 Hectares
The Victoria Lake Gold-Silver Project is located 18kms west of Marathon Golds Valentine Lake which hosts 4 million ounces of gold. Preliminary work on Marvel's ground has identified several veins ranging from 15.5 to 24.9 g/t Au and 18.6 to 139.9 g/ silver. This property was later expanded by an additional 53 claims adding 1,350 hectares to its size. The newly acquired claims contain the highest regional gold-in-till sample in the Newfoundland Geoscience Atlas reporting 785 ppb Au. Sampling and prospecting in 1995 from vein No. 3 reported one grab sample assaying 162.7 grams per tonne gold and 220.8 g/t silver and exhibits similar style gold-bearing veins within regional structural corridors.
Gander South 420 Claims 10,250 Hectares
The Gander South claims are located 45km south of Gander proximal to the Exploits subzone and the Gander Zone - 10km east of New Founds Queensway project.
Gander East 274 Claims 6,850 Hectares
The Gander East project is contiguous to New Found Gold Corp.'s Queensway project, which lies along the highly prospective northeast-trending Dog Bay/Appleton/Grub Line fault system. The Queensway gold project is currently undergoing a 200,000-meter drill program by New Found Gold, with recent drill results of 146.2 grams per tonne gold over 25.6 meters (see press release dated May 21, 2021).
Golden Brook 763 Claims 19,075 Hectares
The Golden Brook property lies contiguous to First Mining, Sokoman Minerals and Benton joint venture in the Hope Brook gold camp. The Hope Brook gold mine, which was in production from 1987 to 1997, produced 752,163 ounces of gold. Exploration and resource definition by Coastal Gold Corp., which was acquired by First Mining in 2015, has outlined an additional 6.33 million tonnes at an average grade of 4.68 g/t Au for 954,000 ounces of gold in the indicated and inferred categories. The project has since been optioned to Big Ridge Exploration.
Gander North 478 Claims 11,875 Hectares
The Gander North property is contiguous to Sassy Resources. Northeast-trending structural lineaments first recognized by Sassy Resources to the immediate southeast are interpreted to continue onto the property. An interpretation of the regional magnetics shows north-northeast-trending, ophiolite-bearing thrust faults are crosscut by a series of brittle northeast-trending fault fractures, which indicate a regional setting similar to that to the highly prospective eastern Exploits subzone. Gold mineralization models along the Exploits subzone are based on analogous structural settings to those at Fosterville in Victoria, Australia.
Baie Verte Brompton Line 857 Claims 21,425 Hectares
The BVBL claim group is located along the Baie Verte Brompton line (BVBL) in the Central Newfoundland gold belt. Currently, all of Newfoundland's gold production comes from Anaconda Mining Inc.'s Point Rousse and Rambler mining operations on the Baie Verte Peninsula. These two producing mines, along with past producers, such as the Terra Nova mine, and deposits of the Rambler mining camp, are in close proximity to the Baie Verte Brompton Line. There are greater than 100 gold prospects and zones, many of which are orogenic style, related to major splays and related second-order structures linked to the BVBL. Marvel has acquired ground over a 70-kilometer corridor along the BVBL.
Sandy Pond Project 515 Claims 12,875 Hectares
The Sandy Pond claims are hosted within the Notre Dame Subzone (of the Dunnage Zone) and strategically located lying between the Red Indian Line and the BVBL. Claims area is characterized by regional northwest trending major faults. Historical work included stream sediment geochemical surveys has yielded results of 11,092 ppb and 9,012 pbb which were never followed up on.
Cape Ray North Project 264 Claims 6,600 Hectares
At Cape Ray, high resolution magnetic surveys have been completed and awaiting the final survey results from the contractor with preliminary results showing numerous folds, major faults and tertiary shear zones which are considered extremely favourable for gold mineralization.
Duhamel, Nickel Copper Cobalt Titanium
The Property is located 350 kilometers north of Quebec City, Que. The Company completed the heliborne survey May 2021, by Prospect Air of Gatineau, Que., over the entire 2,300-hectare land position consisting of 342-line kilometers at 100-meter spacings.
The Duhamel property currently contains seven occurrences of Ni-Cu-Co sulphides and one Fe-Ti-V iron oxide occurrence discovered between 1997 to 2001 by previous operators who defined a 13-kilometer-long mineralized rock corridor. Drill intercept highlights include 1.27 per cent Ni, 0.33 per cent Cu and 0.12 per cent Co over three meters by Virginia gold mines in 2000 that contained massive sulphides. Compilation of historic assessment reports to date reveals more than 30 Ni-Cu (Co) and four Fe-Ti (V, Cr) mineral occurrences which confirm 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 per cent V2O5 associated with 20.8 per cent TiO2 and 0.13 per cent Cr203.
Blackfly Project, Ontario
On August 8, 2021, the Company completed 9 diamond drill holes for a total of 1,116.25 meters at its Blackfly gold property. The project is directly tied onto Agnico Eagle's Hammond Reef deposit which boasts 5.6 million ounces of gold in all resource categories. Drilling at Blackfly was deemed successful with visible gold noted in BF21-15. This hole targeted a newly discovered zone (Mosquito zone) 100 meters southwest of the main Blackfly zone.
Highlights from the drilling program include:
- Black Fly Northeast zone:
- Drill hole BF21-19 intersected multiple gold domains, including 50.6 grams per tonne gold over 0.5 meter from 39.2 to 39.7m and, together with hole BF21-18, extends the Black Fly Northeast zone by 130m to the northeast.
- Black Fly Main zone:
- Drill hole BF21-13 intersected 1.06 g/t gold over 9.3m from 14.3 to 27.7m.
- Drill hole BF21-16 intersected 0.79 g/t gold over 7.7m from 7.3 to 15.0m.
Drill hole BF21-14 intersected a broad mineralized zone with 18.2 m grading 0.21 g/t gold, including 1.74 g/t gold over 1.0m.
- Mosquito zone:
- Drill hole BF21-15 intersected multiple gold domains, including 1.96 g/t gold over 0.3m from 7.7 to 8.0m, corresponding to the 2021 discovery of up to 52.5 g/t gold in a grab sample. Visible gold was noted in this hole (see press release dated Aug. 3, 2021) at 7.7 to 8.0m downhole.
- Deer Fly zone:
- Drill hole BF21-17 intersected multiple gold domains, including 1.10 g/t gold over 2m from 40.0 to 42.0m.
- Black Fly Northwest zone:
- Drill hole BF21-13 intersected 0.93 g/t gold over 6.7m from 105.7 to 112.4m, including 1.42 g/t gold over 4.0m from 108.4 to 112.4m.
East Bull Project
On May 4,2021 the Company acquired a 100% interest in ground along the East Bull Lake Intrusive. The claim group consists of 15 mining claims totalling 5,352 hectares and is contiguous to Grid Metals Corp. and Canadian Palladium East Bull Lake palladium projects east of Elliot Lake, Ont.
The East Bull Lake Intrusive (EBLI) is prolific in hosting PGE mineralization. Easy of Sudbury, ON the EBLI is host to the New Age Metals River Valley deposit hosting measured and indicated resources of 99 million tonnes of 0.9 g/t Pd_Eq and an additional inferred resource of 53 million tonnes grading 0.63 g/t Pd_Eq. West of Sudbury, the EBLI hosts the drilling efforts by Grid Metals Corp., which announced 77 meters grading 0.81 g/t Pd_Eq from drilling efforts. (Grid Metals press release dated April 9, 2021). Further adding to the palladium endowment of the EBLI is Canadian Palladiums project, which hosts a 43-101 compliant resource of 11.1 million tonnes grading 1.46 g/t Pd_Eq.
Serpent River Pecors Ni, PGE's
(Power-One Resources Corp.) Spinout Transaction
April 29, 2021, the Company announced approval of the plan of arrangement under the Business Corporations Act (British Columbia) involving Power-One Resources Corp. had been completed. The arrangement was approved by resolution at a special meeting of shareholders held on April 23, 2021. The company obtained a final order approving the arrangement from the Supreme Court of British Columbia on April 28, 2021, and the arrangement became effective on May 13, 2021. Pursuant to the arrangement, holders of Marvel shares as of the close of business on May 7, 2021, received one common share in the capital of Power-One for every five common shares held in the company. Power-One has also issued five million Power-One shares to Marvel pursuant to the arrangement. Marvel now holds 5,000,000 shares of Power-One Resources Corp representing approximately 26%.
November 11, 2022
Marvel Acquires Option to Purchase Uranium Property-Key Lake, Athabasca Basin Saskatchewan.
Marvel Discovery Corp. has entered into an assignment and assumption agreement with District 1 Exploration Corp. pursuant to which District 1 has assigned all its rights and obligations with respect to a property option agreement dated Oct. 30, 2018, as amended Nov. 23, 2020, whereby District 1 was granted sole and exclusive right and option to acquire a 100-per-cent interest in the Highway North property in the Athabasca region of Saskatchewan. The Company is finalizing its conditions subject to TSX Venture policies and will be updating shareholders shortly.
The Company is looking forward to a robust exploration season in 2022., Marvel continues its pursuit of thinking outside of the box to create shareholder value. The Company has put together an impressive portfolio in Central Newfoundland and is looking forward to finalizing exploration permits to start our inaugural drilling efforts. The recent acquisitions in Newfoundland which is witnessing the largest exploration boom and discoveries is a testament to Marvel recognizing where opportunities for success are the highest. Marvel will be also continuing to build upon the recent 2021 success at our Blackfly project. The Company continues to reward shareholders with opportunities utilizing our shareholder base. Power-One is a testament to the commitment to our stakeholders. We believe that Marvel presents incredible upside potential in 2022 when currently valued at such a low market capitalization as compared with some of our peers in the same jurisdictions. We thank all our current shareholders for their continued support and look forward to rewarding them with success.
Wishing you the best for 2022.
Cordially, Karim Rayani
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
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.