Marvel Discovery Corp. ; is pleased to report it has received assay results from its 2021 Phase 1 of drilling on its 100% owned Black Fly Gold Project near Atikokan, Ontario . A total of nine diamond drill holes were completed for 1,116.25m . Gold mineralization was intersected in all nine holes . The objective of the Phase 1 drill program was to drill fill-in holes and extend the historical Black Fly structure and ...

Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)(OTCQB:MARVF); (the "Company") is pleased to report it has received assay results from its 2021 Phase 1 of drilling on its 100% owned Black Fly Gold Project near Atikokan, Ontario (Figure 1). A total of nine diamond drill holes were completed for 1,116.25m (Table 1). Gold mineralization was intersected in all nine holes (Tables 2). The objective of the Phase 1 drill program was to drill fill-in holes and extend the historical Black Fly structure and investigate new gold bearing zones discovered in the 2021 surface and mapping program (see press release dated July 5,2021). The results of the Phase 1 drilling program were very successful in meeting objectives indicating the presence of high-grade and lower-grade gold in known and new gold bearing domains

Highlights from the drilling program include:

Black Fly Northeast Zone (Figure 2)

  • Drill hole BF21-19 intersected multiple gold domains, including 50.6 g/t gold over 0.5 m from 39.2 - 39.7m and together with hole BF21-18, extends the Black Fly Northeast Zone by 130 m to the northeast.

Black Fly Main Zone (Figure 3)

  • Drill hole BF21-13 intersected 1.06 g/t gold over 9.3 m from 14.3 - 27.7m.
  • Drill hole BF21-16 intersected 0.79 g/t gold over 7.7 m from 7.3 - 15.0 m.
  • Drill hole BF21-14 intersected a broad mineralized zone with 18.2 m grading 0.21 g/t gold, including 1.74 g/t gold over 1.0 m.

Mosquito Zone

  • Drill hole BF21-15 intersected multiple gold domains, including 1.96 g/t gold over 0.3 m from 7.7 - 8.0 m, corresponding to the 2021 discovery of up to 52.5 g/t gold in a grab sample. Visible gold was noted in this hole (see press release dated August 3, 2021) at 7.7-8.0m downhole.

Deer Fly Zone

  • Drill hole BF21-17 intersected multiple gold domains, including 1.10 g/t gold over 2 m from 40.0 - 42.0 m.

Black Fly Northwest Zone

  • Drill hole BF21-13 intersected 0.93 g/t gold over 6.7 m from 105.7 - 112.4 m including 1.42 g/t gold over 4.0 m from 108.4 - 112.4 m.

Figure 1: Geological map, current & historical drill hole collar locations for the Black Fly Gold Project.

Table 1: Black Fly Gold Project Phase 1 drilling statistics.

Table 2: Assay highlights of the Phase 1 drilling program, Black Fly Gold Project.

Mr. Karim Rayani, Chief Executive Officer commented, "These results show the continuity and potential of the Black Fly Project. New drilling has expanded the Black Fly zone by 130m in strike, with visible gold present in multiple holes hitting as high as 50 g/t near surface, with current mapping and sampling we have further confirmed the presence of new gold bearing structures to target. We will continue to build upon the success of the Phase One program and look forward to expanding these results on our second phase."

Figure 2: Current and historical drill hole collar locations for the Black Fly Northeast Zone area corresponding to Figure 1.

Figure 3: Current & historical drill hole collar locations for the Black Fly Main Zone area, corresponding to Figure 1.

QA/QC and Core Sampling Protocols

Samples collected in 2021 were analyzed by Activation Laboratories, an ISO/IEC 17025:2017 accredited facility. Drill core was logged and sampled in Marvel's secure facility located near Atikokan, Ontario. Samples were obtained by cutting the core in half using a diamond cutting saw and were stored in Marvel's secure field office until their transportation by Marvel personnel to Activation Laboratories' sample preparation facility in Thunder Bay, Ontario. Gold was analyzed by fire assay with an Atomic Absorption finish; samples with >5 g/t Au were re-analyzed by fire assay with gravimetric finish. Certified gold reference standards, field duplicates and blanks were regularly inserted into the sample stream. Selected samples were also chosen for duplicate assay from the coarse reject of the original sample. Gold results from the holes reported herein varied from below detection to 50.06 g/t. No quality control/quality assurance issues were noted with the results reported herein.

Marvel's Blackfly Gold Project

The Property is located in the developing Atikokan gold mining camp along and within the Marmion Fault Zone, approximately 13.6 kilometers ("km") southwest of Agnico Eagle's Hammond Reef Gold Deposit.

The Black Fly Main Zone area and the Black Fly Northeast Zone occur in areas of magnetic lows along a property-wide, strong, linear northeast trending magnetic high that corresponds with a magnetic mafic dike. Gold concentrates in strongly silica-sericite-ankerite-pyrite ± chlorite altered and veined granodiorite and diorite commonly associated with shearing. Accessory sulphide phases include galena, chalcopyrite and bornite. Surface sampling, mapping and interpretation of magnetic data by Marvel has resulted in better defined and wider gold intervals than drilling by TerraX between 2009 and 2012.

Assessment file records indicate that the original Blackfly gold discovery was made in 1897, making the occurrence one of the earliest found in the Atikokan gold mining camp. The project's 45-foot shaft was sunk in 1898 shortly after gold was discovered. Several companies have added to the database of the Property including: Rebair Gold Mines Ltd. (1945 to 1948), Steeprock Mines Ltd. (1949 and again in 1961), Aavdex Corporation (2004) and TerraX Minerals Inc. (2009 to 2012).

2021 Exploration Program

The 2021 exploration program on the Project is a continuation of the work initiated in 2020 that included a compilation of historical information and reports and completion of its high-resolution airborne magnetics and time-domain electromagnetic data collection over 203 line-kilometers at 100m spacing. Several geophysical anomalies were identified and targets for follow-up were recommended. Marvel's geological team followed the 2020 work up 2021 prospecting, bedrock mapping and trenching, which allowed for the definition of the gold mineralization associated with the known anomalies and geological structures. Additional diamond drilling is budgeted, with a Phase Two program to follow up and expand on the 2021 results.

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.

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. 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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