Marvel Applies for Permit for Its Diamond Drill Program, KLR-Walker Uranium Project-Athabasca Basin

Marvel Applies for Permit for Its Diamond Drill Program, KLR-Walker Uranium Project-Athabasca Basin

Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce that it has applied for the necessary permits to complete an inaugural diamond drilling program at the DD Zone within the KLR-Walker Uranium Project ("the Property") in the Athabasca Basin. The drill program will consist of 10 holes totaling 1,000m, the Company will report back on an estimated start date once all necessary permits are received

A list of drill holes is tabled below:

Marvel Discovery Corp., Monday, July 18, 2022, Press release picture

Table 1. Planned drill hole statistics for the KLR-Walker Uranium Project.

The objectives of the drill program will be to drill across structures at the DD Zone that have been featured by the recently completed airborne magnetic survey while utilizing previous backpack drill results to aid in vectoring drill hole targets. Structure hosting the DD Zone will investigated south towards the Highway Zone also (Figure 1).

Marvel Discovery Corp., Monday, July 18, 2022, Press release picture

Figure 1. Planned drill locations at the DD Zone over total magnetic intensity coincident with VTEM conductors and highlighted historical results on the KLR-Walker Uranium Project.

The DD Zone remains an area of high merit based on:

  1. Drilling during the 1970's intersected U values of 0.125%
  2. Backpack drilling by EFU in 2015 discovered the Highway Zone, intersecting 1.96% U over 29cm Other highlights include 1.57% U over 4 cm 0.279% U over 44cm, 0.20% U over 60cm, 0.175% U over 41cm, and 0.124% U over 24cm. The Highway Zone Discovery appears structurally related and an extension of the DD Zone.
  3. A distinct correlation with high U values and strong magnetic gradients.
  4. The Property is located within the Wollaston-Mudjactic Transition Zone ("WMTZ") of the eastern Athabasca Basin. The WMTZ hosts the highest-grade uranium mines in the world (Figure 2).
  5. The DD Zone further straddles the Key Lake Shear Zone, an important fault for structurally controlled Athabasca Basin type uranium deposits.

Commentary

"We have made great progress in a short period of time planning our inaugural drill campaign on the KLR-Walker Uranium Project. The DD Zone represents a target area of the high merit and potential for success. After careful study, compilation, and interpretation, we have planned 10 drill holes to test favorable structurally related uranium, a key ingredient to the large uranium deposits of the Athabasca Basin. We look forward to organizing drill crews once the necessary drill permits are received," stated Karim Rayani President & Chief Executive Officer, Director.

Marvel Discovery Corp., Monday, July 18, 2022, Press release picture

Figure 2. Location of the KLR-Walker Uranium Project in the WMTZ Zone host to the highest-grade uranium deposits in the world.

The DD Zone

The DD Zone is proximal and along strike to Fission 3.0 Hobo Lake uranium properties. Hosted within WMTZ, the DD Zone lies along the Key Lake Shear Zone and hosts 10 uranium showings and multiple unexplored EM targets (Figure 3).

Marvel Discovery Corp., Monday, July 18, 2022, Press release picture

Figure 3. Location of the DD Zone, neighbors, VTEM conductors, uranium occurrences along the Key Lake Shear Zone.

Like its neighbor to the west, the Arrow Deposit, owned by NexGen Energy lies along a similar structural corridor as the Marvel properties. The Arrow Deposit1, which has undergone a Positive Feasibility Study with robust economics contains Probable Reserves of 239.6 million lbs of U3O8 at an average of 2.37% U3O8 and Measured and Indicated Resources of 256.7 million lbs at an average grade of 3.1% U3O8. The Arrow Deposit is the largest undeveloped uranium deposit in Canada.

Qualified Person

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.

References

Arrow Deposit1 https://www.nexgenenergy.ca/rook-1-project/default.aspx#feasibility-study

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/709006/Marvel-Applies-for-Permit-for-Its-Diamond-Drill-Program-KLR-Walker-Uranium-Project-Athabasca-Basin

News Provided by ACCESSWIRE via QuoteMedia

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

Marvel Discovery


Keep reading...Show less

Acquisition, Exploration and Development of Mineral Assets in Canada

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 holdings in the area to a total of 6,157 ha. (Figure 1

The Pecors West property has the potential to host three unique styles of mineralization under the critical metals criteria:

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
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 soil sampling completed in 2023 that identified anomalous gold. The Victoria Lake Property is situated over more than 15 kilometres of the Victoria Lake Shear Zone (VLSZ), part of an extensive fault corridor within Central Newfoundland that Honsberger et al. (2022)1 identified as emerging as one of the most prospective orogenic gold domains in Atlantic Canada. The project will further follow up on the second highest regional gold-in-till sample identified by the Newfoundland Geoscience Atlas, which reported 785 ppb Au from a sample collected within Marvel's Victoria Lake project

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
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 1

Karim Rayani, Chief Executive Officer , states , "We are thrilled with the results of our inaugural drill campaign at our Duhamel project. Every hole was successful in intersecting our interpreted target horizons -intersecting disseminated, semi-massive and/or massive sulfide zones. At this state we have decided to pause our drilling operations and now will focus our efforts on both field and desktop studies to help us gain a better understanding of both the genesis and structural setting of these exciting massive sulfide zones. While we wait for assays on all holes, we will be conducting low frequency Borehole and Surface Time Domain Electromagnetics to assist with future targeting areas. Our field geologist is most excited with these initial results and seeing mineralized textures suggestive of these sulfides being part of a much larger sulfide pool, and we eagerly anticipate the Geophysical results to help us vector towards the higher conductance and thicker sulfide zones."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
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 gross proceeds of $101,000 (the "Final Tranche

Each NFT Unit consists of one non flow-through share (an "NFT Share") and one share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire an additional NFT Share at an exercise price of $0.075 per NFT Share for a period of five years.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
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 ,

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
SAGA Metals Expands Radar Ti-V-Fe Project Vision with Preliminary Metallurgical Insights and Major Exploration Milestones

SAGA Metals Expands Radar Ti-V-Fe Project Vision with Preliminary Metallurgical Insights and Major Exploration Milestones

Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to report dual advancements in its 2025 program: the completion of a detailed mineralogical and geological study prepared by Dr. Al Miller, that sets the stage for comprehensive metallurgical testing, and significant on-site exploration progress at the 100% owned Radar Titanium-Vanadium-Iron (Ti-V-Fe) Project near Cartwright, Labrador. Together, these developments underscore Radar's potential as a strategic critical metals project in North America.

Radar Ti-V-Fe Project in Labrador, Canada:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Altech Batteries Ltd  Annual Report to Shareholders

Altech Batteries Ltd Annual Report to Shareholders

Perth, Australia (ABN Newswire) - Altech Batteries Ltd (ASX:ATC,OTC:ALTHF) (FRA:A3Y) (OTCMKTS:ALTHF) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("IKTS") to commercialise the revolutionary CERENERGY Sodium Chloride Solid State (SCSS) Battery. CERENERGY batteries are the game-changing alternative to lithium-ion batteries. CERENERGY batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY battery, with plans to construct a 120MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY battery modules to provide grid storage solutions to the market.

Altech has executed sales offtake Letters of Intent with three companies that covers the full first five years of production from the 120MWh production facility. Altech is now forging forward with securing the finance to construct the production facility, envisaged to be a combination of debt, equity from the sale of a minority interest in the project, and grants and subsidies.

The CERENERGY battery has achieved the highest possible dark green rating from Standard & Poors, due to its non-reliance on critical minerals as well as its expected 50% less greenhouse gas emissions to lithium-ion battery technology.

Altech has licenced its proprietary high purity alumina coating technology to 75% owned subsidiary Altech Industries Germany GmbH (AIG), which has finalised a Definitive Feasibility Study for the development of a 8,000tpa silicon/graphite alumina coating plant in the state of Saxony, Germany to supply its Silumina Anodes product to the burgeoning European electric vehicle market.

The Company patented its game changing technology of incorporating high-capacity silicon into lithium-ion batteries. Through in house R&D, the Company has cracked the "silicon code" and successfully achieved a 55% higher energy battery with improved cyclability or battery life. Higher density batteries result in smaller, lighter batteries and substantially less greenhouse gases, and is the future for the EV market. The Company's proprietary silicon graphite product is registered as Silumina Anodes.

The Company is in the race to get its patented technology to market, has finalised the construction of a Silumina Anodes pilot plant at AIG's industrial site within the Schwarze Pumpe Industrial Park in Saxony, Germany. The European silicon feedstock supply partner for this plant will be Ferroglobe. The project has also received green accreditation from the independent Norwegian Centre of International Climate and Environmental Research (CICERO). The pilot plant adjacent to the proposed project site will allow the qualification process for its Silumina Anodes product. AIG has executed NDAs with German and American automakers as well as a European based battery company.

The pilot plant to produce commercial samples of the product has now been completed and is operational. Altech is working to ramp up production of the pilot plant in order to provide the commercial samples to the prospective companies for their independent testing within their product range.

*To view the full Annual Report, please visit:
https://abnnewswire.net/lnk/35XEX5O2



About Altech Batteries Ltd:

Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
A.I.S. Resources Signs Earn-In Agreement with Riversgold on the New Copper/Gold/Antimony Discovery at Saint John, New Brunswick

A.I.S. Resources Signs Earn-In Agreement with Riversgold on the New Copper/Gold/Antimony Discovery at Saint John, New Brunswick

A.I.S. Resources Limited (TSXV: AIS,OTC:AISSF, OTC-Pink: AISSF) ("AIS" or the "Company") is pleased to announce that it has entered into an earn-in agreement with Riversgold Ltd. (ASX: RGL) ("Riversgold"), granting AIS the right to acquire up to a 75% interest in the new Saint John IOCGPorphyry Project located in New Brunswick, Canada.

AIS CEO Marc Enright-Morin commented, "We are excited to partner with Riversgold on this very exciting newly discovered Saint John Project. The combination of very high-grade mineralisation, excellent infrastructure, and district-scale potential provides AIS with a unique opportunity to advance a possible IOCG/porphyry system in one of Canada's most mining-friendly jurisdictions. Saint John is exploration and drill ready with two drill programs already approved. Its unique location near the coast means we can explore here in a meaningful way all year round and we look forward to getting the drills turning and come up with the discovery hole."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×