Marvel Increases Land Position Contiguous with Newfound Gold's Queensway Project

Rhea-AI Summary

Marvel Discovery Corp. has expanded its Gander South Project by acquiring an additional 274 claims, totaling 6,850 hectares, increasing its land holdings to 17,100 hectares in the Gander Zone area of Newfoundland. This strategic positioning adjacent to New Found Gold Corp's Queensway Project enhances Marvel's potential in the promising gold-rich region. The Gander South Project is located along the Dog Bay-Appleton-Grub Line fault system, known for significant gold discoveries. CEO Karim Rayani emphasizes the company's commitment to increasing shareholder value through quality asset acquisitions.

Positive

• Acquisition of 274 claims adds 6,850 hectares to the Gander South Project.
• Total land position now 17,100 hectares, enhancing strategic holdings.
• Location adjacent to New Found Gold's Queensway Project increases exploration potential.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / June 10, 2021 / Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)(OTC PINK:IMTFF); ("Marvel" or the "Company") is pleased to announce it has acquired, via staking an additional 274 claims totaling 6,850 hectares within the highly prospective Gander Zone area. These new claims are located 10km north of the recently announced Gander South claim group (see press release dated June 8^th, 2021). This new acquisition now comprises 17,100 hectares and collectively termed the Gander South Project (the "Property"). The Gander South Project now positions Marvel as a major land holder within the central Newfoundland gold belt. The new ground is contiguous to New Found Gold Corp's Queensway Project that lies along the highly prospective northeast trending Dog Bay-Appleton-Grub Line fault system. The Queensway Gold Project is currently undergoing a 200,000m drill program by New Found Gold with recent drill results of 146.2 gpt Au over 25.6m (TSXV: NFG, see press release dated May 21, 2021).

Karim Rayani, President and Chief Executive Officer commented, "Marvel is a rare opportunity that offers shareholders a broad exposure to gold, rare earths and battery metals. We continue to increase shareholder value by acquiring quality assets in mining friendly jurisdictions. These claims add 6,850 hectares to our Gander South project increasing our holding to 17,100 hectares adjacent to New Found Gold."

Dog Bay-Appleton-Grub Line Fault System

The Property lies along the Dog Bay-Appleton-Grub Line fault system, a crustal scale fault zone that extends from the north coast of Newfoundland 200km southwest through Gander. Structural corridors in the central Newfoundland are intimately associated with recent gold discoveries including the Marathon Gold's Valentine Gold Project which hosts 6.0 million ounces of gold (https://marathon-gold.com/valentine-gold-project/).

The South Gander Project lies within the Gander Zone northeast along strike from the Exploits Subzone boundary where gold mineralization models are based on analogous structural settings to those at Fosterville in Victoria, Australia (https://exploitsdiscovery.com/projects/). The Property lies within a domain of ambiguous geophysical signature that suggests the zone boundaries may be more complicated than regional maps indicate (Figure 2). Preliminary structural interpretation shows the area is characterized by major northeast-trending structures, which parallel the Dog Bay-Appleton-Grub Line fault system and can be traced for approximately 35 km to the southwest and 60 km to the northeast where historical gold occurrences (e.g. Star Track, West Tower, Wing Pond) are observed in proximity to regional-scale granites of the Gander Zone.

Figure 2. Location of the Marvel Discovery claim acquisition relative to the Gander-Exploits Sub-zone boundary.

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 Gander South property, particularly regarding historical exploration, neighbouring companies, and government geological work. The information provides an indication of the exploration potential of the Gander South 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:

• Exploits Zone, Newfoundland (Slip and Victoria Lake - 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)
• 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.

View source version on accesswire.com:
https://www.accesswire.com/651243/Marvel-Increases-Land-Position-Contiguous-with-Newfound-Golds-Queensway-Project

FAQ

What did Marvel Discovery Corp. announce on June 10, 2021?

Marvel Discovery Corp. announced the acquisition of an additional 274 claims, totaling 6,850 hectares, in the Gander Zone, increasing its Gander South Project to 17,100 hectares.

How does Marvel Discovery's recent acquisition impact its position in Newfoundland?

The acquisition strengthens Marvel's position as a major landholder in Newfoundland's gold belt, located next to New Found Gold Corp’s Queensway Project.

What is the significance of the Dog Bay-Appleton-Grub Line fault system for Marvel Discovery?

The Dog Bay-Appleton-Grub Line fault system is associated with major gold discoveries, enhancing the potential for successful exploration in the newly acquired claims.

What potential does the Gander South Project hold for investors?

The Gander South Project's large land position and strategic location adjacent to known gold projects suggest significant exploration potential, which may lead to increased shareholder value.