Marvel Acquires Victoria Southwest - Contiguous to Falcon Gold, Buchans-Benton JV

Marvel Acquires Victoria Southwest - Contiguous to Falcon Gold, Buchans-Benton JV

Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T)(OTCQB:MARVF); (the "Company") is pleased to announce it has acquired, via staking, additional ground west of Valentine Lake. This new land position called Victoria Southwest (the "Property") consists of 253 claims (6,325 hectares) and is contiguous to Falcon Gold Corp, Benton Resources, Buchan Minerals Corp and a significant land package staked by Shawn Ryan. The Property lies 40 kilometers (km) west of the Valentine gold deposit and 65km southwest of the town of Buchans. The Valentine gold deposit which hosts 6.8 million ounces of gold (Moz. Au) (all categories) and is now under development (https:marathon-gold.comvalentine-gold-project). Falcon has immediate plans to commence high resolution magnetic surveys upon approval of exploration permits

In early 2011, Buchans Minerals and Benton Resources completed prospecting activities in the immediate area that identified abundant mineralized quartz vein material containing trace to several percent sulphides. Analytical results of the grab samples assayed between 1.65 to 18.24 g/t Au and between 5.4 to 87.1 g/t Ag in subcrop samples. Grab samples from outcrop assayed up to 8.52 g/t Au and 30.7 g/t Ag. (Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property). Of considerable interest within this immediate area are float samples consisting of angular boulders which showed up to 106.4 g/t Au and 364.3 g/t Ag. It does not appear that any of the follow-up work within this area was able to determine the source of this high-grade sample.

Figure 1: Regional geological and structural location of the Victoria Lake Gold Project.

Mr. Karim Rayani, President and CEO commented, "Marvels timing into the camp could prove ideal as recent activity has started to highlight Buchans-Benton prospecting program from 2011. High-grade gold samples lie within 2.4km of our claim boundary and the source of this boulder does not appear to have ever been found. Our in-house studies suggest that within this immediate area, structural controls on mineralization are poorly understood and we aim to fly the entire area with high-resolution magnetic surveys to be followed up with detailed litho-structural and target generation studies."

Victoria Southwest Property

Structurally controlled orogenic gold deposits in Newfoundland are associated with crustal-scale fault zones within the Central Newfoundland gold belt. These major fault zones include the Baie Verte-Brompton Line, the Cape Ray Fault Zone, the Red Indian Line, and the Victoria Lake Shear Zone (Figure 2). The largest known gold deposit in Newfoundland occurs at Valentine Lake (Marathon Gold Corp,) in the footwall of the Victoria Lake Shear Zone. To date the Marathon Gold has discovered five (5) deposits along a 20km trend and together these represent the largest undeveloped resources in Atlantic Canada with reserves and resources of 6.8 Moz. Au. Also notable with the area is the Matador Mining Cape Ray deposit which hosts 837,000 oz. of Au (https://matadormining.com.au/cape-ray/). Recent structural interpretations of regional scale geophysical surveys led Marvel Discovery to the staking of this land package due numerous interpreted oblique trends and tertiary splay zones which are considered highly prospective for gold mineralization.

Figure 2. Location of Marvel's Victoria Lake Gold Project

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 property.

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.
"Karim Rayani"
Karim Rayani
President/Chief Executive Officer, Director
Tel: 604 716 0551 email: k@r7.capital

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. There is no assurance any of the conditions for closing will be met. 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.



View source version on accesswire.com:
https://www.accesswire.com/696468/Marvel-Acquires-Victoria-Southwest--Contiguous-to-Falcon-Gold-Buchans-Benton-JV

News Provided by ACCESSWIRE via QuoteMedia

MARV:CA
The Conversation (0)
Marvel Discovery (TSXV:MARV)

Marvel Discovery

Acquisition, Exploration and Development of Mineral Assets in Canada

Acquisition, Exploration and Development of Mineral Assets in Canada Keep Reading...
Marvel Discovery Acquires Strategic Ground In Elliot Lake, ON

Marvel Discovery Acquires Strategic Ground In Elliot Lake, ON

Marvel Discovery Corp. (TSX-V:MARV)(FRA:O4T)(OTCQB:MARVF) ("Marvel" or the "Company") is pleased to announce that it has acquired 100% of additional ground ("Pecors West") east of Elliot Lake to complement its East Bull Property. The additional land package of 805 hectares (ha) brings the land... Keep Reading...
Marvel Resumes Exploration of Gold Anomaly at Victoria Lake

Marvel Resumes Exploration of Gold Anomaly at Victoria Lake

Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T)(OTCQB:MARVF) ("Marvel" or the "Company") is pleased to announce that the Company is planning a till sampling exploration program at its Victoria Lake Property for Q2 2024. The project is being planned as a follow-up to reconnaissance till and... Keep Reading...
Marvel Completes Drilling at Duhamel, Nickel-Copper-Cobalt Project, North of Quebec City

Marvel Completes Drilling at Duhamel, Nickel-Copper-Cobalt Project, North of Quebec City

Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T)(MARVF:OTCQB); ( "Marvel " or the "Company" ) is pleased to report that the Company has completed drilling operations on its Ni-Cu-Co and Ti-V-Cr Duhamel property (the " Property ") located 350 kilometers (km) north of Quebec City, QC (Figure... Keep Reading...
Marvel Closes Final Tranche of Private Placement

Marvel Closes Final Tranche of Private Placement

Marvel Discovery Corp. (TSXV:MARV)(FSE:O4T)(OTCQB:MARVF) (the "Company") announces that it has closed the final tranche of its previously announced non-brokered private placement (the "Private Placement") by issuing 2,525,000 non flow-through units (the "NFT Units") at $0.04 per NFT Unit for... Keep Reading...
Marvel's CEO Issues Corporate Update Letter to Shareholders

Marvel's CEO Issues Corporate Update Letter to Shareholders

VANCOUVER, BC / ACCESSWIRE/ February 7, 2024 / Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T)(MARVF:OTCQB); ( "Marvel " or the "Company" ) is pleased to report a corporate update letter in an address to shareholders from its Chief Executive Officer, Karim Rayani.Dear Shareholders ,As we... Keep Reading...
Hand holding stylus near a gold bar, labeled "Weekly Editor's Picks."

Editor's Picks: Gold Price Recovers from Biggest One-Day Drop in 12 Years

The gold price declined from its recent all-time highs this week, sinking to nearly US$4,000 per ounce and recording its biggest one-day decline in more than 12 years.Silver took a similar hit, slipping back below the US$50 per ounce level.The drops have been attributed to factors like a... Keep Reading...
Golconda Gold (TSXV:GG)

Gold and Crypto: Redefining the Future of Finance

Click here to register for the webinarGold is making a powerful comeback as a cornerstone of the global financial system—but it’s not alone. Digital assets and cryptocurrencies are rapidly transforming how capital moves across markets. Instead of competing, gold and crypto are increasingly... Keep Reading...
Lahontan Gold (TSXV:LG)

Lahontan Closes Strategic York Claims Purchase at Santa Fe

Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF)(FSE:Y2F) (the "Company" or "Lahontan") is pleased to announce that the Company has completed the Purchase (the "Purchase") of 27 unpatented lode mining claims (the "York claims") from Emergent Metals Corp ("Emergent"). The York claims are contiguous... Keep Reading...
Finger flipping block from "RESTART" to "START" on orange background.

Barrick’s Mali Gold Mine Restarts Under State Control

Barrick Mining's (TSX:ABX,NYSE:B) Loulo-Gounkoto mine in Mali has resumed operations for the first time in over nine months, following a court-ordered takeover by the West African nation’s military-led government, according to a Bloomberg report.The Loulo-Gounkoto complex had been shuttered... Keep Reading...
Blackrock Silver Commences Phase 2 Hydrology Program, Geotechnical Evaluation and Seismic Survey on the Tonopah West Project

Blackrock Silver Commences Phase 2 Hydrology Program, Geotechnical Evaluation and Seismic Survey on the Tonopah West Project

These Programs Support the Advancement of Tonopah West Towards the Permitting of an Exploration Decline to Enable Test Mining and the Extraction of a Bulk SampleHIGHLIGHTS:The Phase 2 hydrology program will consist of placing 5 additional piezometers, a dewatering well and a groundwater... Keep Reading...
Augustus Minerals

High stakes and blue sky as Augustus lines up for PNG golden prize

There’s a big play happening up in PNG with a potentially huge prize and the $9m ASX listed Augustus Minerals is in the thick of it. After years of dispute, court cases and controversy, the gold-rich Mt Kare project, that sits about 600kms north-west of Port Moresby, is about to be awarded to... Keep Reading...

Latest Press Releases

Related News