Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)(OTCQB:MARVF); (the "Company") is pleased to announce an update on its 100% owned Baie Verte Project, located in Western Newfoundland. Through a combination of staking and purchase agreements, Marvel has acquired an additional 451 claims, 11,275 hectares along the Baie Verte Brompton Line (BVBL), bringing the total size of the Baie Verte Project to 40,900 hectares and covering a 70km strike length along the BVBL corridor
This new staking is contiguous to the Sassy Resources Cape Ray project, and like the Cape Ray project, these new claims cover an area with little historical exploration. Structural analysis of regional magnetic datasets suggests a complex area marked by numerous fault splays from the Baie Verte Brompton Line, a crustal scale deep seated fault. The Baie Verte Brompton Line (BVBL) is a documented continental scale suture which separates the Humber Zone Terrane to the West from the central Newfoundland Dunnage Zone to the east. Importantly all of Newfoundland's existing gold production comes from mines on the Baie Verte Peninsula, Anaconda Mining Inc.'s Point Rousse and Rambler Metals Mining Operations, both of which are in close proximity to the BVBL.
Marvel also reports it has contracted Balch Exploration Consulting Inc. (BECI) to conduct a high-resolution magnetic gradiometer survey scheduled to commence this week. The survey will aid in a detailed litho-structural analysis of the entire project area. BECI provides a state-of-art acquisition system with an airframe design based on a high drag principle to keep the sensors on-line and without the need for magnetic compensation resulting in the highest quality total magnetic intensity and gradiometer data.
Marvel's Chief Executive Officer Karim Rayani commented, "The Baie Verte Line Project is an area which really excites us. The entire Baie Verte Peninsula has been staked and Marvel is the only company, apart from Shawn Ryan and Sassy Resources, who have considered the potential of this prolific structure which spans the entire province from the Baie Verte Peninsula to the extreme southwestern tip of the province. We are excited to announce the commencement of the first ever High Resolution Magnetic Gradiometry survey along this underexplored area of the BVBL. Our prospecting teams are ready to commence exploration along the structural features and targets we believe will be highlighted by this state of the art airborne survey."
Airborne magnetic data provide the means to interpret geologic structure and lithology variations in areas with little to no outcrop. In regions where basement outcrop is minimal and petrophysical contrasts exist between different geological units, the data can offer the potential to "see undercover" and their interpretation can minimize risk and vector exploration efforts to those areas of high merit in real-time. BECI is able to provide both raw and processed data on a daily basis, working closely with our ground team in their efforts to perform detailed target analysis.
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.
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
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.
View source version on accesswire.com: