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:
"The Pecors West property is a dynamic piece of ground with significant potential for Ni-Cu-PGM mineralization and uranium and rare-earth oxide mineralization in two completely different geological settings", Mr. Karim Rayani, Chief Executive Officer, commented. "The new land acquisition puts Marvel contiguous to the Eco Ridge Project with almost 60 Mt of uranium and rare-earth oxide resources. Drilling by Five Nine Ventures intersected shallow uranium mineralization along the Pecors Channel in 2012, and in 2015 PGM+Ni+Cu mineralization was intersected by International Montoro within the extensive Pecors magnetic anomaly, now held by Power One Resources (SpinCo from Mavel). This land acquisition gives Marvel a sizeable area of influence in the camp."
The Pecors Channel (Figure 1) located next door to the new land acquisition contains an inferred resource of 20,000,000 tons grading 0.037% (0.74 lbs./t) U3O8 or 14,800,000 lbs. U3O8 (Rio Algom,
1977). This resource estimated is based on limited drilling and there is potential to expand the Pecors Channel onto the Pecors West property. Uranium is hosted within the quartz-pebble conglomerate of the Matinenda Formation at shallow depths within the Pecors Channel. ‘Channels' within the Elliot Lake uranium camp were mined extensively in the 1950s where production grades averaged 0.100% U3O8. The resource estimate cited above predates and therefore does not conform to the more stringent reporting requirements of National Instrument 43-101 and should not be relied upon according to those standards. Marvel has not yet done exploration work to verify or classify the historical estimates as a current mineral resource, and the Company is not treating the historical estimates as a current mineral reserve or resource.
The Pecors Westproperty also hosts the potential for significant PGM- Ni-Cu mineralization related to the Pecors Magnetic anomaly, a large regional magnetic high extending 18 km long and 4 km wide and largely hidden beneath Huronian sediments (Figure 2). The source of the magnetic anomaly has been confirmed to be at least partially comprised of lithologies of gabbroic affinity by International Montoro drilling in 2015. Hole P15-23 drilled by International Montoro intersected 0.33 g/t Pt+Pd+Au and 0.11% Cu and 0.04% Ni over 12m within contact style mafic intrusive mineralization. This style of mineralization appears similar to the East Bull PGM deposit to the east where Quest Critical Metals Inc., (formerly Canadian Palladium) reports a total indicated resources of 16.5 million tonnes at a grade of 0.93 g/t PdEq (see Quest Critical Metals news release dated February 22, 2023).
The Pecors West property is contiguous to Radio Fuels Corp. (CSE:CAKE) Eco Ridge Project where indicated resources total 22.306 Mt grading 0.045% U3O8and 1,613 ppm REO (rare-earth oxides) and inferred resources total 36.955 Mt grading 0.046 % U3O8 and 1,560 ppm REO (https://radiofuels.ca/).
Transaction Terms
Marvel Discovery has signed an agreement with two vendors to purchase a 100% interest in 18 boundary cell mining claims and 35 single cell mining claims for $10,000 cash payable upon acceptance of the transaction by the TSX Venture Exchange (the "Effective Date") and an additional $40,000 cash payable within 6 months from the Effective Date. On the Effective Date, Marvel must also issue 500,000 common shares and 500,000 share purchase warrants exercisable for a 3-year period at $.05 per share. The vendors retains a 2% NSR with a buyback option from Marvel for 50% of the NSR for $1,000,000 cash. All terms are conditional upon regulatory approval from the TSX Venture Exchange.
Qualified Person
Mike Kilbourne, P. Geo, an independent qualified person ("QP") 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 properties comprising the Pecors property, particularly regarding historical exploration, neighbouring companies, and government geological work. The information provides an indication of the exploration potential of the Pecors property but may not be representative of expected results.
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:
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. 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.
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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
Karim Rayani, Chief Executive Officer, commented; "Results from Marvel's 2023 reconnaissance till and soil sampling program were very exciting, and identified multiple gold anomalies within the western part of the property. The reconnaissance program was intended to investigate the potential for structures associated with the Cape Ray Fault Zone and Victoria Lake Shear Zone. Anomalous gold was identified in over 20% of the 2023 samples, and our 2024 program will follow up with more detailed sampling over anomalous zones. The project is located over an extensive fault and shear zone corridor which is host to numerous gold occurrences that include the nearby Valentine Gold Project. Recent news of the acquisition of the Valentine Gold Project, we believe, is a reaffirmation of our views that this entire area has immense potential for further discovery, and the reason Marvel acquired such a significant land holding. Marvel's substantial position in this camp is second only to Calibre (see Figure 1), and includes the crucial southwest extension of the Victoria Lake Shear Zone and fault corridor. In recent months we have announced a strategic reduction of some of Marvel's holdings in the Province of Newfoundland and Labrador, as we focus on our core holdings. The Victoria Lake Project is now regarded as one of our highest priority projects within the province. As gold prices surge and global uncertainties persist, our bullish outlook on gold has never been stronger, and we remain committed to and focused on the acquisition and exploration of Tier One Projects. Exploring a significant portion of one of Newfoundland's most prospective gold-bearing structures is not only thrilling but a discovery at Victoria Lake has the potential to transform Marvel and benefit our loyal shareholders."
Results from Marvel's spring 2023 program were reported on August 14, 2023 (see press release dated August 14, 2023). The 2023 exploration program conducted till sampling over two geological targets as part of the Company's investigation of the potential for structures associated with the Cape Ray Fault - Victoria Lake Shear Zone corridor. Marvel plans to complete an enhanced program of till sampling over the area in late spring-early summer 2024 and will follow up with additional sampling in areas where anomalous gold was identified. The second highest regional gold-in-till sample in the Newfoundland Geoscience Atlas database which reported 785 ppb Au was collected from within Marvel's Victoria Lake project, and the north survey grid for 2024 is intended to follow up on this historic high-grade anomaly.
Figure 1. Location of Marvel's Victoria Lake Property and Calibre Mining Corp's Valentine Gold Project in Central Newfoundland, Canada.
The Cape Ray Fault is an extensive fault corridor that is well recognized as being highly fertile for structural gold mineralization and is host to well-known gold occurrences that include the Cape Ray Deposit, the Valentine Gold Deposit, and the Wilding Lake Prospect. Marvel's Victoria Lake Property represents one of the largest land packages on strike and contiguous to Calibre Mining Corp.'s ("Calibre") Valentine Gold Project. The recent purchase of Marathon by Calibre (Calibre Mining Completes Acquisition of Marathon Gold - Junior Mining Network) marked a significant milestone for this entire area with their intention for an accelerated mine development phase. The Valentine Gold Project is anticipated to contribute an expected annual gold production of 195,000 ounces at a cost of USD$1,007 per ounce during the first 12 years of production starting in 2025. (https://calibremining.com/news/calibre-and-marathon-announce-combination-to-creat-6555/) The Valentine Lake shear zone plays a pivotal role in hosting gold mineralization within this entire camp with ongoing exploration and studies providing a greater understanding of this regional scale structure (https://journals.lib.unb.ca/index.php/ag/article/view/32972). Marvel's detailed studies of this area have demonstrated the potential for the continuation of this major structure to continue across the Victoria Lake Property (see Figure 2).
Figure 2. Total Magnetic Intensity Map of Victoria Lake Regional Area Showing Interpreted Location of Valentine Lake Shear Zone and Documented Gold Occurrences
Qualified Person
Greg Robinson, 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 and the Company have not completed sufficient work to verify the historical information on the properties comprising the Victoria Lake Shear Zone, particularly regarding historical exploration, neighbouring companies, and government geological work. The QP and the Company further acknowledge that the presence of mineral occurrences within property adjacent to Marvel's Victoria Lake Property cannot be used as an indication for mineralization to occur within Marvel's property itself.
About Marvel Discovery Corp.
Marvel, listed on the TSX Venture Exchange for more than 25 years, is a Canadian-based emerging resource company. The Company is systematically exploring its extensive property positions in:
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
Website: www.marveldiscovery.ca
Twitter: @marveldcorp
Facebook: @marveldiscoverycorp
LinkedIn: @marveldiscoverycorp
Instagram: @marveldiscoverycorp
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.
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements that 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: 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 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.
1. Honsbergerm I.W. , Bleeker, W., Kamo, S.L., Sandeman, H.A.I., Evans, D.T.W., Rogers, N., van Staal, C.R., and
Dunning, G.R. (2022) Latest Silurian syntectonic sedimentation and magmatism and Early Devonian orogenic gold mineralization, central Newfoundland Appalachians, Canada: Setting, structure, lithogeochemistry, and high-precision U-Pb geochronology. Geological Society of America Bulletin, March 2022, 25 pages. http://pubs.geoscienceworld.org/gsa/gsabulletin/article-pdf/doi/10.1130/B36083.1/5557466/b36083.pdf
SOURCE:Marvel Discovery Corp.
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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."
Phase 1 drilling consisted of 5 holes totaling 1,218m ( table 1 ), which targeted numerous priority airborne and ground EM conductors within the Houlière block (figure 2 ). Historical work within the Property and surrounding areas have shown these conductors are the primary target horizons.
Several sulfide-rich mineralization intervals were intersected on the five drillholes which drilled into mafic-ultramafic magmatic rocks suite located in the margin of a large anorthosite body named Saguenay Lac-Saint- Jean SLSJ Anorthosite Suite.
The first hole drilled, DU24-01, intersected a wide, 33.0m, interval of disseminated sulfide mineralization from a hole depth 69.0m- 102.0m and within this are semi-massive stringers and massive sulfide zones ranging from widths of 10cm-60cm hosted in mafic-ultramafic magmatic rocks. Other sulfide mineralization intervals were intersected in hole DU24-01 and they are at 120.5m (5.5m), at 134m (1.0m); at 143.0m (11.3m), at 159.1m (1.6m), at 172.2m (2.4m), at 204.5m (1.6m), at 226.6m (0.7m), at 239.8m (0.3m), at 244.3m (1.0m), at 258.6m (1.5m), and at 314.2m (2 cm wide). An example of one of these massive sulfide bands with shows tremendous potential for nickel, copper, and cobalt mineralization intersected in drillhole DU24-01 is highlighted in figure 3. Semi-massive and massive Fe-Ti oxide (MOX) bands ticking up to several meters in width were also intersected in this hole some of which contains sulfides clusters and stringers.
The second hole drilled, DU24-02, intersected a wide, 13.9m, interval of disseminated sulfides mineralization from a hole depth 7.5m- 21.4m and within this are semi-massive stringers and massive sulfide zones ranging from widths of 10cm-70cm. An example of one of these semi-massive sulfide bands with shows tremendous potential for nickel, copper, and cobalt mineralization intersected in drillhole DU24-02 is highlighted in figure 4. Other same disseminated sulfides intervals with semi-massive stringers and massive sulfide zones ranging from widths of 5cm-40cm were intersected at 32.0 (0.8m), at 37.8m (5.9m), at 99.8m (3.6m), at 135.8m (7.6m), at 169.8m (18.2m), and at 231.2m (5.7m). Semi-massive and massive Fe-Ti oxide (MOX) bands ticking up to several meters in width were also intersected in this hole some of which contains sulfides clusters and stringers.
Hole DU24-03, intersected a wide, 10.3m, interval of disseminated mineralization from a hole depth 88.6m - 98.9m and within this are semi-massive sulfide stringers and clusters zones ranging from widths of 10-50cm. Other same disseminated mineralized intervals with semi-massive stringers and massive sulfide zones ranging from widths of 5cm-80cm were intersected at 111.3m (2.5m), and at 121.5m (2.0m). Semi-massive and massive Fe-Ti oxide (MOX) bands ticking up to several meters in width were also intersected in this hole.
The Hole DU24-04 intersected a wide, 17.3m, interval of disseminated sulfides mineralization from a hole depth 21.7m - 39.0m and within this are semi-massive stringers zone 10cm-90cm. Noteworthy within hole DU24-04 is a significant vein of massive chalcopyrite with pyrrhotite mineralization over the interval of 79.7m - 80.1m which is highlighted in figure 5. Other same disseminated sulfide intervals with semi-massive stringers zones ranging from widths of 5cm-70cm were intersected at 71.9m (2.0m), at 76.0m (2.1m), at 89.2m (3.6m), and at 104m (1.3m).
The hole drilled, DU24-05, intersected a wide, 10.8m, interval of disseminated sulfides mineralization from a hole depth 115.0m - 125.8m and within this are semi-massive stringers and massive sulfide zones ranging from widths of 10cm-120cm. An example of these massive sulfide bands with shows a potential for nickel, copper, and cobalt mineralization intersected in drillhole DU24-05 is highlighted in figure 6 to 8. Other disseminated sulfides intervals with semi-massive stringers and massive sulfide zones ranging from widths of 5cm-120cm were intersected at 57.4m (4.4m), at 95.1m (5.6m), at 145.8m (6.4m), and at 197.2m (3.8m, open down hole). Fe-Ti oxide (MOX) mineralization as dissemination, as semi-massive and massive iticking up to dozen meters in width were intersected in this hole: at 10.0m (14.5m), at 33.0m (25.6m), at 74.7m (20.4m), and at 110.9m (10.4m). Those contains a potential for titanium and chromium.
Duhamel Project
For general information, the Duhamel Property currently contains seven (7) occurrences of Ni-Cu-Co sulfides and one (1) Fe-Ti-V iron oxide occurrence discovered between 1997 to 2001 by previous operators who defined a 13 km long mineralized rock corridor (Figure 4). Drill intercept highlights include 1.27% Ni, 0.33% Cu, and 0.12% Co over 3.0 meters by Virginia Gold Mines in 2000 that contained massive sulfides. The recalculation of 100% sulfides gave 2.42% Ni over 0.5m (hole 1279-2001-29 gave 1.4% Ni over 0.5m). Compilation of historic assessment reports to date reveals more than thirty (30) Ni-Cu (Co) and four (4) Fe-Ti (V, Cr) mineral occurrences which confirms 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% V 2 O 5 associated with 20.8% T i O 2 and 0.13%Cr 2 0 3 .
The Duhamel project is located between Chutes-des-Passes and Pipmuacan Reservoir deformation zones (or areas) included in central part of Proterozoic Grenville Geological Province (Figure 2). The Duhamel Property is characterized by the presence of large mafic to ultramafic intrusive rock bodies located in northern margin of the Saguenay‐Lac‐Saint‐Jean (SAGLSJ) Anorthosite Suite, one of the largest anorthosite intrusive bodies in the world. The Chute-des-Passes-Pipmuacan reservoir areas contains numerous massive sulfide and iron oxide mineralization occurrences recognized and documented by the Quebec government ( Sigeom, Figure 9 ).
Qualified Person
The technical information contained in this report has been reviewed by Jean-Paul Barrette Géo/ P.Geo , an independent project geologist and consultant. Mr. Barrette is a member of the Ordre des Géologues du Québec (OGQ, # 619). Mr. Barrette has sufficient experience (39 years) and relevant to the style of mineralization and the type of deposit under study and the activity undertaken to qualify as a competent person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Barrette carried out several geological reconnaissance works in the Houliere-Duhamel sector and recently made there a compilation of historical works.
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:
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 DiscoveryNews Provided by ACCESSWIRE via QuoteMedia
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.
Pursuant to the Private Placement, the Company issued an aggregate 12,000,000 flow-through units (the "FT Units") at $0.05 per FT Unit and 3,775,000 NFT Units at $0.04 per NFT Unit for aggregate gross proceeds of $751,000.
The gross proceeds from the Final Tranche will be used for general working capital purposes, more specifically for general and administrative expenses (50%) and for exploration and property maintenance (50%). None of the proceeds from the Final Tranche will be used for payments to non-arm's length parties or persons conducting investor relations activities.
All securities issued in connection with the Final Tranche will be subject to a statutory hold period expiring four months and one day after the issuance date. Final acceptance is subject to the TSX Venture Exchange.
ON BEHALF OF THE BOARD
Marvel Discovery Corp.
"Karim Rayani"
Chief Executive Officer, Director
Tel: 604 716 1036
Email: info@marveldiscovery.ca
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. 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.
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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 embark on a new year, fueled by unwavering determination and a shared vision, we eagerly anticipate not only continuing our ambitious plan of furthering collaborative partnerships but to continue to look for value generation prospects. In the midst of this persistently challenging market landscape, timing remains paramount. The macro environment for precious metals and energy presents unprecedented opportunities, yet a perplexing disparity persists for companies despite the favorable backdrop.
Marvel's core and long-term philosophy remains the same. We are a versatile multi-commodity enterprise, spanning a wide array of valuable resources-from battery metals and energy to precious metals, and this diverse portfolio positions us strategically for future success as demand returns. We continue to strengthen the value proposition, with a strategic focus on both advancement and acquisition. Our portfolio spans a diverse range which makes us a unique proposition compared to our peers, especially in our market capitalization.
Notably, we've recently expanded our land holdings at the KLR-Walker Uranium Project in the Athabasca Basin , an area renowned for hosting the world's highest-grade uranium mines. This expansion positions us alongside industry giants such as Cameco and Fission , underscoring our commitment to unlocking the immense potential of uranium. Additionally, our presence in the Wollaston-Mudjactic Transition Zone aligns us with the success stories of basement-hosted uranium deposits, exemplified by NexGen Energy's Arrow Deposit -the largest undeveloped uranium deposit in Canada. Marvel is also uniquely positioned having one of the largest land positions next door to Atlantic's largest gold deposit - Valentine deposit, previously held by Marathon Gold, now purchased by Caliber Mining (January 24, 2024). As we continue to explore and develop our mineral assets, we remain steadfast in our pursuit of excellence and growth. This combined with our Nickel, Cobalt and Copper prospects in Quebec, Rare Earth projects in BC, and Gold Projects throughout Newfoundland and Ontario, make us uniquely positioned.
Highlights of our recent work include:
Marvel has that decided it will not be proceeding with its green fields prospects in Newfoundland, the Valentine South West, Slip, and Gander area prospects to enable the Company to focus resources on its more advanced prospects at Hope Brook, where Piedmont Lithium recently acquired a sizable interest in the neighboring project from Benton Resources, and its Victoria Lake Project adjacent to Caliber Mining's recent purchase of Marathon's Golds Valentine Deposit.
Marvel is opportunistically positioned in the Battery Metals, Rare Earth, Gold and Energy (Uranium) sectors.
Current Joint Ventures and Asset Sale
Marvel Project Portfolio
Joint Ventures, Plan of Arrangement, Subsidiaries
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:
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: 604 716-1036 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. 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.
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Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET) ("Prospector" or the "Company") is pleased to announce that it has closed its previously announced strategic investment by B2Gold Corp. (TSX: BTO) (NYSE American: BTG) (NSX: B2G) ("B2Gold"). Pursuant to the transaction (see news release dated June 28, 2024) B2Gold subscribed for an aggregate of 5,578,720 common shares of the Company (the "Shares") at a price of C$0.163 per Share for aggregate gross proceeds to the Company of $909,331.36 (the "Offering").
The Shares represent a total position of approximately 9.9% of the issued and outstanding common shares of the Company.
The gross proceeds from the issue and sale of the Shares will be used exclusively for exploration and development purposes on the Company's ML Project in the Yukon (the "ML Project").
In connection with the strategic investment, the Company has formed a four-person Technical Committee who will advise on and oversee exploration and development of the Company's ML Project.
All securities issued in connection with the Offering are subject to a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ML Project Overview
The ML Project located approximately 80 km from Dawson City, Yukon Territory, and 25 km northeast of the former Brewery Creek Gold Mine. The ML Project geology is extensively metal endowed with numerous instances of high-grade gold, silver and copper in drill holes, trenches and surface rock samples.
ML hosts one of the few remaining Tombstone-style intrusions in the Yukon that has not been systematically explored with no significant work completed since 2008 and as such, no modern Intrusion Related Gold (IRGS) exploration models have been applied to ML despite the presence of a diagnostic Au-As-Bi-Te-W geochemical signature.
Previous exploration focused on well exposed Au-Cu-W skarn mineralization proximal to syenite intrusions, however little work was completed within the intrusions. Nonetheless, the presence of skarn Au-Cu mineralization provides key evidence of an active, metal-rich intrusive system with over 24 known high grade Au surface occurrences that have never been drill tested and numerous high-grade Au drill and trench results remain open-ended.
About B2Gold:
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland.
About Prospector Metals Corp.
Prospector Metals Corp. is a Discovery Group Company focused on district scale, early-stage exploration of gold and base metal prospects. Creating shareholder value through new discoveries, the Company identifies underexplored or overlooked mineral districts displaying important structural and mineralogical occurrences similar to more established mining operations. The majority of acquisition activity occurs in Ontario, Canada - a Tier-1 mining jurisdiction with an abundance of overlooked geological regions possessing high mineral potential. Prospector establishes and maintains relationships with local and Indigenous rightsholders, and seeking to develop partnerships and agreements that are mutually beneficial to all stakeholders.
On behalf of the Board of Directors,
Prospector Metals Corp.
Dr. Rob Carpenter, Ph.D., P.Geo.
President & CEO
For further information about Prospector Metals Corp. or this news release, please visit our website at prospectormetalscorp.com.
Prospector Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company's plans with respect to the Company's projects and the timing related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies, and other project opportunities. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances, necessary to carry out the Company's exploration plans, risks and uncertainties related to the COVID-19 pandemic and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
Neither the 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.
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Relevant Gold Corp. (TSXV:RGC)(OTCQB:RGCCF) (the "Company" or "Relevant Gold") is pleased to announce that it has entered into a subscription agreement with Kinross Gold Corporation ("Kinross") (NYSE:KGC),(TSX:K) in connection with a $1,530,000 private placement financing (the "Placement") of 5,100,000 units at a price of $0.30 per unit . The Placement represents a separate follow-on financing to the previously completed private placement (see news releases dated May 2, and June 26, 2024
The Placement is for 5,100,000 Units at a price of $0.30 per unit, with each Unit consisting of one common share of the Company and a one-half share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.35 per share for a period of 24 months from the date of issue. There are no finder's fees associated with this Placement.
After giving effect to the Placement, Kinross will hold approximately 9.9% of the issued and outstanding common shares in the capital of the Company on a partially diluted basis. At closing, Relevant Gold and Kinross will enter into an Investor Rights Agreement reserving certain rights for Kinross, namely pro-rata participation in future financings, the ability to increase ownership to 19.9%, and the formation of a technical advisory committee comprised of two Kinross members and two Relevant Gold members.
"Kinross's strategic investment represents a strong vote of confidence in our team's Wyoming exploration vision and ability to execute in the field- we are thrilled to welcome them as a major shareholder and strategic partner," said Relevant Gold's CEO Rob Bergmann. "This investment marks a key milestone for Relevant, expanding our technical depth, strengthening our corporate structure and bolstering our treasury. We look forward to immediately leveraging this new relationship in our upcoming drilling program."
The Proceeds from the Placement are expected to be used to fund exploration activities at the Company's projects in Wyoming, USA, and for general working capital.
The Company anticipates closing the Placement shortly following receipt of approval from the TSX Venture Exchange.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (The "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Relevant Gold Corp.
Relevant Gold Corp. is a North American gold exploration company founded by experienced exploration geologists and operated by a highly respected team with a proven record of significant value creation for shareholders. Relevant Gold is focused on the acquisition, exploration, discovery, and development of district-scale gold projects in the state of Wyoming - one of the most mining-friendly jurisdictions in the United States and globally.
On behalf of Relevant Gold Corp.,
Rob Bergmann, Chief Executive Officer
More information
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
For further information about Relevant Gold Corp. or this news release, please visit our website at www.relevantgoldcorp.com or contact Rob Bergmann, President and CEO, or Kristopher Jensen, Manager of Investor Relations, at 763-760-4886 or by email at investorrelations@relevantgoldcorp.com.
Cautionary Note Regarding Forward-Looking Statements and Historical Information
This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events of Relevant Gold Corp. ("Relevant" or "Relevant Gold" or "the Company"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions) are not statements of historical fact and may be forward-looking information. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law. This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
The scientific and technical contents of this release have been approved by Mr. Brian C. Lentz, CPG #11999, Chief Exploration Officer of the Company, who is a "Qualified Person" as defined by Canadian National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Lentz is not independent of the Company.
SOURCE: Relevant Gold Corp.
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Key Points
Yalgoo Project
Background
The Remorse Target is located on the eastern side of the Company’s flagship Yalgoo Project. TEM has previously noted the presence of large-scale copper-zinc geochem and geophysical anomalies 1 and the intention to drill test these 2. An extensional geochem survey was also recently completed at the target 3.
Status
All the necessary regulatory approvals to commence drilling at the Remorse Target have been received. TEM continues to work closely with the traditional owners 4 to ensure cultural heritage is respected. All preparation is complete and the Tempest team eagerly awaits ground and weather conditions to improve so Earthworks and drilling can commence as soon as possible.
Next Steps
This article includes content from Tempest Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.