Marvel Acquires Key Land in Hope Brook Adjacent to First Mining and Sokoman Minerals
Marvel Discovery Corp. (OTCQB: IMTFF) has acquired a significant land position in the Hope Brook Area, totaling 763 claims (19,075 hectares) adjacent to First Mining Gold and Sokoman Minerals. This region historically produced over 752,000 ounces of gold. The new property is strategically located within the Exploits Subzone and is linked to major gold deposits. CEO Karim Rayani highlighted the potential of this acquisition to enhance Marvel's exploration footprint, aiming to expand total land holdings to 100,000 hectares.
- Acquisition of 763 claims (19,075 hectares) adjacent to significant mining operations.
- Strategically positioned within a gold-rich area with historical production.
- Potential to increase total land holdings to 100,000 hectares, enhancing exploration.
- High-resolution magnetic surveys completed, facilitating further analysis.
- Historical information on the Hope Brook properties is not verified, presenting uncertainty.
- Forward-looking statements may not guarantee future results.
VANCOUVER, BC / ACCESSWIRE / June 23, 2021 / Marvel Discovery Corp. (TSXV:MARV)(FRA:O4T1)(OTCQB:IMTFF); ("Marvel" or the "Company") is please to announce it has acquired a significant land position within the Hope Brook Area. Marvel has staked 763 claims (19,075 hectares) which are strategically located and contiguous to First Mining Gold and to Sokoman Minerals-Benton joint venture (Figure 1).
Figure 1. Regional location of Marvel's Hope Brook gold property.
Of significance in the area is the Hope Brook gold mine which was in production from 1987 to 1997 producing 752,163 ounces of gold plus a copper concentrate. Exploration and resource definition by Coastal Gold Corp who was acquired by First Mining in 2015 has outlined an additional 6.33 million tonnes at an average grade of 4.68 gpt Au for 954,000 ounces of gold in the indicated and inferred categories (https://firstmininggold.com/projects/partnerships/hope-brook-project/).
Marvel's new land position is hosted within the Exploits Subzone of the central Newfoundland gold belt. The property covers extensions or is proximal to two major structures linked to significant gold prospects (Cape Ray, Matador Mining) and deposits (Hope Brook, First Mining) in southern Newfoundland (Figure 2). Rock lithologies and structures on the property are also related to those associated with Marathon Golds Valentine Gold Deposits, Sokoman's Moosehead gold project and New Found Gold's Queensway gold project.
Figure 2. Location of Marvel's Hope Brook gold property contiguous to First Mining and the Sokoman-Benton joint venture.
Marvel's Chief Executive Officer Karim Rayani commented, "The Hope Brook and surrounding area has been the focus of increased activity notably led by First Mining Gold and Sokoman Minerals over the last few months, this highly prospective and strategic land package covers 19,075 hectares and is directly tied on to both. This positions Marvel in three of the key exploration and development areas within the Island, comprising Victoria Lake, Gander Zone and Hope Brook areas. Much of the area has already been covered with extremely high quality and high-resolution magnetic surveys, we have started our first phase of applying litho-structural analysis and interpretive techniques across this highly prospective area. This brings our total land holdings to approximately 50,000 hectares with the objective of reaching a total of 100,000 in what I consider the three most important areas."
Qualified Person
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.
The QP has not completed sufficient work to verify the historic information on the properties comprising the Hope Brook property, particularly regarding historical exploration, neighboring companies, and government geological work. The information provides an indication of the exploration potential of the 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:
- Newfoundland (Slip, Gander South, Victoria Lake and Hope Brook - Au Prospects)
- Atikokan, Ontario (BlackFly - Au prospect)
- Red Lake, Ontario (Camping Lake - Au prospect)
- Elliot Lake, Ontario (Serpent River/Pecors -Ni-Cu-PGE discovery) & (Uranium- REE's)
- 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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https://www.accesswire.com/652796/Marvel-Acquires-Key-Land-in-Hope-Brook-Adjacent-to-First-Mining-and-Sokoman-Minerals
FAQ
What is Marvel Discovery Corp.'s recent acquisition related to IMTFF?
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