Marvel, Crews Mobilized at Golden Brook - Kraken Pegmatite Field Adjacent to Benton-Sokoman-JV NFLD
Marvel Discovery Corp. announces the initiation of exploration on the Golden Brook Projects in Central Newfoundland, strategically located near significant lithium discoveries. Crews are mobilized for an extensive prospecting and till sampling program to assess mineralization potential ahead of planned drilling in early 2023. This project covers approximately 25 kilometers of the Cape Ray Fault and is adjacent to the past-producing Hope Brook Gold Mine, which generated over 752,000 ounces of gold. The company aims to verify targeted areas linked to the promising Kraken Pegmatite Field.
- Exploration commenced on the promising Golden Brook Projects.
- Strategic location adjacent to significant lithium discoveries enhances mineralization potential.
- Plans for drilling in early 2023 indicate proactive exploration strategy.
- None.
VANCOUVER, BC / ACCESSWIRE / November 15, 2022 / Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T)(MARVF:OTCQB); ("Marvel" or the "Company") and Falcon Gold Corp. (TSX-V: FG)(Frankfurt: 3FA: GR)(FGLDF:OTCQB); and together ("the Alliance") are pleased to announce that exploration has commenced on their combined Golden Brook Projects in Central Newfoundland, Canada. The Golden Brook Property is strategically located contiguous to Benton-Sokoman's Golden Hope Project covering the Kraken Pegmatite Field. In addition, the property is situated approximately 7 kilometres from the past producing Hope Brook Gold Mine, the project is interpreted to cover approximately 25 kilometres of the Cape Ray Fault east of Matador's Cape Ray Gold Project. Recent geophysical review and structural interpretation over the Golden Brook project area, reported September 23, 2022, identified kilometer-scale shear zone corridors, and a major fold closure, interpreted from the magnetics, within the Alliance's Golden Brook Property area. The Alliance had originally planned to complete high resolution magnetic gradiometer surveys over the project area, a proven method to distinguish structural complexities in geological terranes. The survey work was delayed due to a state of emergency being issued from forest fires in Central Newfoundland. Crews have been mobilized to commence work on the project, with prospecting and till sampling to be completed to verify the target structures and determine their mineralization potential in advance of drilling planned for early 2023.
In the past year, Benton/Sokoman made headlines announcing the first High Grade Discovery of Lithium bearing pegmatites at their Golden Hope project. It is important to note this discovery is less than 10 km away from the combined ground held by Marvel and Falcon and appears to be within the same lithological trend covered by the Alliance's land tenure. The 35 grab and chip samples noted in the Benton/Sokoman NR (September 16th, 2021) were collected over a 2 km distance. Their sampling program confirmed the presence of lithium-bearing pegmatites, the first significant occurrence of Lithium documented in the province of Newfoundland and Labrador, Canada.
"We are thrilled to have mobilized crews on multiple projects in Central Newfoundland. The Golden Brook is one of the most exiting prospects in our portfolio for Battery Metals in Central Newfoundland, being tied on to the Kraken Pegmatite Field adjacent to Benton-Sokoman's discovery ground. We are completing an aggressive prospecting and till sampling program to verify the targeted areas to test the mineralized zones identified in advance of our next phase of exploration- drilling planned for early 2023." Stated Karim Rayani Chief Executive Officer.
Marvel and Falcon recently formed a strategic partnership (November 17, 2021) that combines both the Hope Brook and Baie Verte Brompton District properties covering a combined 115,170 hectares to be explored on a 50-50 Joint Venture basis. The Golden Brook Property is hosted within the Exploits subzone of the central Newfoundland gold belt. The property covers extensions of, or are proximal to, two major structures linked to several significant gold prospects (Cape Ray; Matador Mining) and deposits (Hope Brook; First Mining) in southern Newfoundland. Rock lithologies and structures on the property are also related to those associated with Marathon Gold's Valentine gold deposits, Sokoman's Moosehead gold project and New Found Gold's Queensway gold project. The combined land position straddles both the eastern and western extents of recent land acquisitions by the Benton/Sokoman JV partnership, with the JV now controlling areas of considerable structural complexity marked by large-scale fold and fault structures, which provide important structural controls (traps) for gold mineralization within this area.
Within this immediate area, the most significant deposit is the Hope Brook Gold Mine, which was in production from 1987 to 1997, producing 752,163 ounces of gold. The Hope Brook deposit is now owned by First Mining and was acquired 2015 and has since been optioned to Big Ridge. Which has outlined an additional 6.33 million tonnes at an average grade of 4.68 grams per tonne gold for 954,000 ounces of gold in the indicated and inferred categories.
Qualified Person
The technical content of this news release has been reviewed and approved by Greg Robinson, 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. 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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