Marvel Intersects Significant Radioactive Zones at KLR Uranium Project, Saskatchewan

Marvel Intersects Significant Radioactive Zones at KLR Uranium Project, Saskatchewan

Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce the results for its inaugural diamond drill program at its wholly owned KLR (Key Lake Road) Uranium Project in northern Saskatchewan. The purpose of the program was to follow up on two targets zones: the DD Zone, which was first identified by Forum Uranium, and the Highway Zone, where surface drilling with Shaw portable drills provided an 29cm interval assaying 1.9% U3O8. Both Target Zones lie at the contact of the Wollaston and Mudjatic domains, which is the primary exploration corridor on the eastern side of the Athabasca Basin, and which hosts the Key Lake Mine, Cigar Lake Mine, and the McArthur River Mine

The highest result was at the DD Zone in hole KLR23-06, which graded 841ppm U3O8 over 1.07m. Highlights of the results are provided in Table 1, below:

Zone Hole # From (m) Length (m) U3O8 (ppm)
Highway KLR23-02

66.84

1.89 553
DD KLR23-05

151.34

2.32 201
DD KLR23-06

114

1.07 841
DD KLR23-06

230

2.93 512

Table 1: Selected assays results 2023 Drilling Program

Marvel Discovery Corp., Wednesday, May 17, 2023, Press release picture

Radiometric downhole readings were taken with a QL40-GRA-1000 'Quick Link' Natural Gamma Probe. Numerous anomalous CPS readings were identified throughout each hole, generally associated with increased chlorite alteration and fracturing. The best intervals are summarized in Table 2.

Highway Zone

Hole # Start (m) End (m) Length Ave. Radioactivity (CPS) Peak Radioactivity (CPS)

KLR23-01

65.79

65.90

0.11

400

KLR23-02

67.09

68.17

1.08

925

11500

DD Zone

KLR23-03

114.00

123.00

9.00

200

512

KLR23-04

121.80

128.44

6.64

380

905

KLR23-05

149.79

153.95

4.16

1080

3712

KLR23-06

114.25

115.73

1.48

1200

8000

224.48

230.84

6.36

852

10300

Table 2: Radioactive intervals observed through downhole probing.

The program was successful in verifying historical results and confirmed that anomalous surface radioactivity continues at depth. Preliminary evaluation suggests that the radioactive mineralization encountered in this program is in the form of vertical shoots, which increase in intensity with depth. Insitu gamma readings, derived through downhole probing, also suggest the potential of an enriched system at depth.

Radioactive intervals at the DD Zone consistently existed within a weak but pervasive chlorite alteration of psammite with patchy hematite staining. Radioactivity was most pervasive at or near fractures, and veining with massive chalcopyrite and pyrrotite.

Karim Rayani, Chief Executive Officer commented, "We are extremely pleased with the results of this program, which are comparable, if not better, to results of the shorthole programs conducted over Nexgen's Arrow Deposit, where ore grades were generally encountered at depths exceeding 450m. At KLR, these early results suggest that we may be at the top of a larger system in the most fertile uranium corridor in the world."

Marvel will continue to analyze the drill data, in conjunction with ground and airborne geophysical datasets, with the intention of designing a Phase 2 drilling program to investigate for mineralization at depth.

Background

Four NQ2 holes (847m) were completed at the DD Zone and two NQ2 holes (496m) were completed at the Highway Zone, for a total of 1343m. The deepest hole drilled in the program was KLR23-01, which reached a depth of 390m. A total of 306 core samples were delivered to SRC Geoanalytical. 238 of these samples were assayed using ICP1 and Boron, while the remaining 68 samples were to be assayed using ICP1 and Boron, as well as a fire assay for gold.

SRC Geoanalytical Labs in Saskatoon, SK. SRC Geoanalytical Laboratories' management system operates in accordance with ISO/IEC 17025:2017. The quality control processes at the laboratory are continuously monitored by the SRC Quality Assurance Department.

The predominant lithologies encountered were pelitic and psammo-pelitic gneisses, consistent with the Wollaston domain. Also encountered were psammitic meta-arkosic gneisses. Occasional units of intrusive K-Spar pegamatitic granite were also encountered across all holes.

Qualified Person

The technical content of this news release has been reviewed and approved by Peter Born Ph.D., P.Geol., who is a Qualified Person as defined by National Instrument 43 -101, Standards of Disclosure for Mineral Projects

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/755596/Marvel-Intersects-Significant-Radioactive-Zones-at-KLR-Uranium-Project-Saskatchewan

News Provided by ACCESSWIRE via QuoteMedia

MARV:CA
The Conversation (0)
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
Galan Lithium Limited: SUCCESSFUL DUE DILIGENCE COMPLETED - $20M PLACEMENT TO PROCEED

Galan Lithium Limited: SUCCESSFUL DUE DILIGENCE COMPLETED - $20M PLACEMENT TO PROCEED

Highlights:

  • All conditions in relation to the $20 million placement to Clean Elements Fund have been satisfied.
  • Due diligence undertaken by Clean Elements Fund validates the standing of Hombre Muerto West ( HMW ) as a world class lithium project, offering exceptional scale and grade.
  • Galan is now fully funded to complete the construction of Phase 1 at HMW (at 4ktpa LCE) with first production of lithium chloride concentrate planned during H1 2026.

Galan Lithium Limited (ASX: GLN,OTC:GLNLF) ( Galan or the Company ) is pleased to announce that all conditions relating to the $20 million share placement ( Placement ) to the Clean Elements Fund ( Clean Elements ) have now been completed.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Brunswick Exploration Consolidates Mirage Ownership

Brunswick Exploration Consolidates Mirage Ownership

Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; FRANKFURT:1XQ; " BRW " or the " Company ") is pleased to announce the consolidation of its ownership covering a group of eight mining claims at the Mirage project pursuant to a purchase and sale agreement dated August 15, 2025, with General Partnership Osisko Baie James ("Osisko Baie James"). Brunswick Exploration now owns 100% of the mining claims across the Mirage project.

To acquire such rights, Brunswick has agreed to renounce to its option to acquire a 90% undivided interest in the Plex property, pursuant to the third amendment to option agreement, dated August 15 2025, between Brunswick and Osisko Baie James.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Western Uranium & Vanadium Corp.: 2025 Mid-Year Update

Western Uranium & Vanadium Corp.: 2025 Mid-Year Update

Western Uranium & Vanadium Corp. (CSE: WUC,OTC:WSTRF) (OTCQX: WSTRF) (" Western " or the " Company ") filed its Q2 2025 financial statements yesterday on SEDAR+ and EDGAR. The Company is pleased to provide the following 2025 Mid-Year Update.

Uranium Markets and Strategy
The uranium term price has remained highly stable since August 2024 when it first reached $80/lb; it finished July 2025 at $81/lb. The uranium spot market has experienced more volatility, peaking at $106/lb in January 2024, and declining into a 2025 trading range of $64/lb to $78/lb. In 2024, Western responded to favorable market conditions by aggressively ramping up operations and expanding production capacity primarily at its 100% owned Sunday Mine Complex (SMC). While uranium spot prices weakened late in the year, we had anticipated a recovery in 2025, supported by the U.S. ban on Russian uranium (effective 2028) and the Trump administration's strong backing of nuclear energy and domestic mining. The Company's interpretation of market signals was that uranium markets would stabilize at replacement price levels. However, given recent turbulence in global commodity and financial markets, along with geopolitical uncertainties, we have shifted to a more conservative stance, increasingly focusing on cost control and strategic discipline.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Homerun Resources Inc. Completes the Assignment of the CBPM Lease over the Guidoni Belmonte District Silica Mineral Rights

Homerun Resources Inc. Completes the Assignment of the CBPM Lease over the Guidoni Belmonte District Silica Mineral Rights

Homerun Resources Inc. (TSXV: HMR,OTC:HMRFF) (OTCQB: HMRFF) ("Homerun" or the "Company") is pleased to announce that the Company has completed the transaction for the acquisition of the exploitation rights from Guidoni Brasil S.A. ("Guidoni), for areas granted under a lease agreement with Companhia Bahiana de Pesquisa Mineral (CBPM) in the municipality of Belmonte, Bahia, Brazil. All tenements of the Guidoni project are fully permitted for immediate extraction mining and at a lower royalty rate than the Company's previous silica sand supply contracts in the Santa Maria Eterna District.

Further to the News Release dated February 12th, 2025, announcing the total and irrevocable assignment of all rights and responsibilities in favor of Homerun, of the rights to exploit the mining tenements 871.960/1992, 870.462/1999, 870.463/1999 and 873.387/2007, the Company has executed a Term of Assignment with Guidoni, with the Consent of CBPM, for the process number 036.5410.2020.0001386-11, assigning the above mineral rights, subject of bid number 004/2020, along with all its rights and obligations, to Homerun. Under the Guidoni Lease Terms with CBPM, the Company will pay CBPM an extraction royalty of R$26 (US$4.50) per tonne of extracted silica sand.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×