Marvel Acquires Victoria Southwest - Contiguous to Falcon Gold, Buchans-Benton JV
Marvel Discovery Corp. has acquired the Victoria Southwest property, consisting of 253 claims (6,325 hectares), located west of Valentine Lake. This acquisition enhances its land position adjacent to neighboring companies and a significant land package staked by Shawn Ryan. Historical prospecting yielded grab samples with assay results of up to 18.24 g/t Au and 87.1 g/t Ag. With the Valentine gold deposit hosting 6.8 million ounces of gold, Marvel plans to conduct high-resolution magnetic surveys in the area as part of its exploration strategy.
- Acquisition of 253 claims (6,325 hectares) enhances land position in a prospective gold area.
- Historical assay results indicate potential for high-grade gold and silver in the acquired property.
- Proximity to the significant Valentine gold deposit may lead to strategic advantages.
- None.
VANCOUVER, BC / ACCESSWIRE / April 7, 2022 / Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T)(OTCQB:MARVF); (the "Company") is pleased to announce it has acquired, via staking, additional ground west of Valentine Lake. This new land position called Victoria Southwest (the "Property") consists of 253 claims (6,325 hectares) and is contiguous to Falcon Gold Corp, Benton Resources, Buchan Minerals Corp and a significant land package staked by Shawn Ryan. The Property lies 40 kilometers (km) west of the Valentine gold deposit and 65km southwest of the town of Buchans. The Valentine gold deposit which hosts 6.8 million ounces of gold (Moz. Au) (all categories) and is now under development (https://marathon-gold.com/valentine-gold-project/). Falcon has immediate plans to commence high resolution magnetic surveys upon approval of exploration permits.
In early 2011, Buchans Minerals and Benton Resources completed prospecting activities in the immediate area that identified abundant mineralized quartz vein material containing trace to several percent sulphides. Analytical results of the grab samples assayed between 1.65 to 18.24 g/t Au and between 5.4 to 87.1 g/t Ag in subcrop samples. Grab samples from outcrop assayed up to 8.52 g/t Au and 30.7 g/t Ag. (Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property). Of considerable interest within this immediate area are float samples consisting of angular boulders which showed up to 106.4 g/t Au and 364.3 g/t Ag. It does not appear that any of the follow-up work within this area was able to determine the source of this high-grade sample.
Figure 1: Regional geological and structural location of the Victoria Lake Gold Project.
Mr. Karim Rayani, President and CEO commented, "Marvels timing into the camp could prove ideal as recent activity has started to highlight Buchans-Benton prospecting program from 2011. High-grade gold samples lie within 2.4km of our claim boundary and the source of this boulder does not appear to have ever been found. Our in-house studies suggest that within this immediate area, structural controls on mineralization are poorly understood and we aim to fly the entire area with high-resolution magnetic surveys to be followed up with detailed litho-structural and target generation studies."
Victoria Southwest Property
Structurally controlled orogenic gold deposits in Newfoundland are associated with crustal-scale fault zones within the Central Newfoundland gold belt. These major fault zones include the Baie Verte-Brompton Line, the Cape Ray Fault Zone, the Red Indian Line, and the Victoria Lake Shear Zone (Figure 2). The largest known gold deposit in Newfoundland occurs at Valentine Lake (Marathon Gold Corp,) in the footwall of the Victoria Lake Shear Zone. To date the Marathon Gold has discovered five (5) deposits along a 20km trend and together these represent the largest undeveloped resources in Atlantic Canada with reserves and resources of 6.8 Moz. Au. Also notable with the area is the Matador Mining Cape Ray deposit which hosts 837,000 oz. of Au (https://matadormining.com.au/cape-ray/). Recent structural interpretations of regional scale geophysical surveys led Marvel Discovery to the staking of this land package due numerous interpreted oblique trends and tertiary splay zones which are considered highly prospective for gold mineralization.
Figure 2. Location of Marvel's Victoria Lake Gold Project
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 property.
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.
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FAQ
What is the Victoria Southwest property acquired by Marvel Discovery?
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What were the historical assay results from the Victoria Southwest property?
Where is the Victoria Southwest property located in relation to the Valentine gold deposit?
