Marvel Commences Exploration at Slip, Exploits Subzone, Newfoundland

Rhea-AI Summary

Marvel Discovery Corp. (TSXV:MARV)(OTCQB:MARVF) has announced an exploration update on its 100% owned Slip Project in Central Newfoundland. The project is near the Newfound Gold Queensway Project, identified as a high-priority area following regional magnetic data analysis. Recent exploration revealed surface mineralization with grab samples up to 44.5 g/t Au. Marvel has contracted Balch Exploration Consulting for a high-resolution magnetic survey and renowned prospector Roland Quinlan for systematic property exploration. This initiative could enhance resource identification and bolster investor confidence.

Positive

• Surface mineralization discovered with grab samples up to 44.5 g/t Au.
• High-priority exploration status due to proximity to Newfound Gold's Queensway Project.
• Engaged Balch Exploration for advanced magnetic gradiometer survey.
• Collaboration with prominent prospector Roland Quinlan for systematic exploration.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / July 15, 2021 / Marvel Discovery Corp. (TSXV:MARV)(FRA:O4T1)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce an exploration update on its 100% owned Slip Project, located in Central Newfoundland. The Slip Project is located within 17 km of the Newfound Gold Queensway Project. An analysis of the regional magnetic data suggests the Slip Project lies within a similar structural setting as the New Found Gold's Queensway Project making this project a high priority for Marvel. Recent exploration on the Slip Project has uncovered surface mineralization with grab samples as high as 44.5 g/t Au and a detailed, systematic exploration program is now underway.

Figure 1. Regional location of Marvel's Slip Gold property.

Marvel has contracted Balch Exploration Consulting Inc. (BECI) to conduct a high-resolution magnetic gradiometer survey. These survey results will allow for 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. The survey will be flown along 100m spaced lines with a sensor height of 30m and sample intervals of 3-5m. Real-time differential GPS accuracy is accurate to within 3-5m, allowing for direct ground follow-up without the need for additional ground geophysics, which often requires line cutting.

Marvel has contracted Roland Quinlan of Edge Exploration, one of the most highly regarded and well-known prospectors in Newfoundland. Roland will begin a systematic prospecting program of the entire Slip property.

Marvel's Chief Executive Officer Karim Rayani commented, "We are pleased to commence operations at Slip, completing the high-resolution survey will outline the structural features that we believe are present on the property. In addition, we were able to attract Roland Quinlan a local, high-profile and respected prospector of Edge Exploration, Newfoundland."

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 under cover" 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.

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, neighbouring 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, Gander North, 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)
• 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/

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/655636/Marvel-Commences-Exploration-at-Slip-Exploits-Subzone-Newfoundland

FAQ

What is the latest update on Marvel Discovery Corp.'s Slip Project?

Marvel Discovery Corp. has announced significant surface mineralization and is conducting a high-resolution magnetic survey at its Slip Project in Newfoundland.

What were the findings from the recent exploration at the Slip Project?

Recent exploration uncovered surface mineralization with grab samples showing grades as high as 44.5 g/t Au.

Who is conducting the exploration work at the Slip Project?

Balch Exploration Consulting has been contracted for a magnetic survey, and renowned prospector Roland Quinlan is overseeing systematic exploration.

What is the significance of the Slip Project's proximity to the Newfound Gold Queensway Project?

The Slip Project is considered a high priority due to its close location to the Newfound Gold Queensway Project, suggesting potential for similar resource viability.

How does the high-resolution magnetic survey benefit Marvel Discovery Corp.?

The magnetic survey will provide a detailed litho-structural analysis, aiding in risk minimization and targeted exploration efforts.