Marvel kicks off exploration in Gander North, Newfoundland
VANCOUVER, BC/ACCESSWIRE/July 21, 2022/Marvel Discovery Corp. (TSXV: MARV) (Frankfurt: O4T) (OTCQB: MARVF); (“Wonder” or the “Company”) is pleased to announce the start of the 2022 exploration program on the Company’s 100% owned Gander North property (the “Property”). The exploration program began in June, with initial prospecting completed. Preliminary efforts have identified extensive evidence of quartz veining, including outcrops and floats. Surface samples collected to date have been submitted for analysis and results are pending. The targets of merit identified by this work will be followed by additional prospecting and geological mapping. Extensive review of publicly available datasets resulted in the identification of multiple northeast-trending magnetic linear features with associated fold closures, suggesting a continuation of trends from the nearby project area. Gander Gold, where soils in gold anomalies up to 756.1 ppb have been identified. . (https://temp.sassyresources.com/PressReleases/Sassy%20Jan%2027%20NR%20FINAL.pdf) High-resolution geophysical surveys have been planned for this area that will help better define and delineate these magnetic trends and, along with prospecting and surface mapping, will be the focus of a drilling program beginning in the fall.
About Gander North Property
The Gander North property consists of 478 contiguous claims covering 11,785 hectares and is located northeast of Gander, Newfoundland (Figure 1). The property is located in the Gander Zone adjacent to the Dog Bay-Appleton-Grub fault system, a crustal-scale zone that extends southwest from the north coast of Newfoundland for nearly 200 km to in Gander. Structural corridors in central Newfoundland have proven to be intimately associated with recent gold discoveries, including New Found Gold’s Queensway Project located approximately 20 km from Marvel’s project, an area of considerable potential that has recently been one of the national newspapers in an article in the Financial Post (https://financialpost.com/commodities/mining/eric-sprott-makes-his-biggest-bet-yet-on-what-he-believes-could-be-the-greatest-gold-discovery-in-the- history-of-canada).
Figure 1. Location of the Marvel Gander North acquisition along the regional GRUB line deformation corridor.
The northeast-trending structural lineaments first recognized by Sassy Resources, which owns the property immediately to the southeast, are interpreted to extend onto the Gander North property (Figure 2). An interpretation of regional magnetism shows NNE-trending, ophiolite thrust faults cut by a series of NE-trending brittle fracture-faults that indicate a regional setting similar to the highly prospective Eastern Exploits subzone. Models of gold mineralization along the Exploits subzone are based on structural parameters analogous to those reported for Fosterville in Victoria, Australia (https://exploitsdiscovery.com/projects/).
Figure 2. Location of the Marvel Discovery Gander North project.
“We are excited about our initial exploration program and pending results from our sampling. Early evidence from prospecting and mapping suggests a geological environment conducive to orogenic gold deposits and Central Gold Belt occurrences. of Newfoundland,” said Karim Rayani, CEO of Marvel Discovery Corp. “This unexplored property offers great potential for success with a strategic location near the high-grade gold discoveries made by New Found Gold. We look forward to compiling our efforts and success by integrating mineralization trends, historical results and geophysical attributes to vector exploration drilling efforts at these high merit areas”.
Mike Kilbourne, P. Geo, an Independent Qualified Person as defined in National Instrument 43-101, has reviewed and approved the technical content of this press release on behalf of the Company.
About Marvel Discovery Corp.
Marvel, listed on the TSX Venture Exchange for over 25 years, is an emerging resource company based in Canada. The Company systematically explores its large real estate positions in:
- Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte and Hope Brook – At Outlook)
- Atikokan, Ontario (Black fly – To Prospect)
- Elliot Lake, Ontario (East Bull – Ni-Cu-PGE perspective)
- Quebec (Duhamel –Prospect Ni-Cu-Co & Prospect Titanium, Vanadium and Chromium)
- Prince George, British Columbia (Wicheeda North – Prospecting for rare earth elements)
The Company’s website is: https://marveldiscovery.ca/
ON BEHALF OF COUNCIL
Marvel Discovery Corp.
President/Chief Executive Officer, Director
Disclaimer for forward-looking information:
Certain statements contained in this release are forward-looking statements that reflect management’s expectations. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. The forward-looking statements contained in this press release relate to, among other things, the 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. There can be no assurance that the closing conditions will be satisfied. Forward-looking statements reflect the beliefs, opinions and projections as of the date the statements are made and are based on a number of assumptions and estimates which, although believed to be reasonable by the respective parties, are inherently subject subject to significant business, economic, competitive conditions, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this press release regarding such periods. Except as required by law, the Company undertakes no obligation to update any forward-looking statements of beliefs, opinions, projections or other factors, should they change, except as required by law.
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