Marvel Drills Three Holes at Blackfly, Intersecting Visible Gold

Rhea-AI Summary

Marvel Discovery Corp. has announced 168 assay results from its Blackfly Gold Project, revealing significant gold mineralization. Highlights include:

• 29 samples over 500 ppb gold
• 12 samples between 1.00 to 2.99 g/t gold
• 9 samples exceeding 3.00 g/t gold
• 3 samples above 30 g/t gold

Drilling is ongoing, with initial results showing visible gold at a depth of 8m. The program continues exploration, following a high-resolution airborne survey identifying geophysical anomalies.

Positive

• 168 assay results from Blackfly Gold Project indicate significant gold mineralization.
• 29 surface samples returned assays greater than 500 ppb gold.
• 3 samples showed assays greater than 30 g/t gold, indicating high-grade potential.
• Drilling program with 16 holes planned highlights ongoing commitment to exploration.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / July 8, 2021 / Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased to report it has received 168 assay results for its third of three rounds from its 2021 prospecting and mapping program on the Blackfly Gold Project near Atikokan, Ontario. The Marvel geological team has conducted the initial prospecting, field mapping and sampling, and started trench sampling. A total of 303 samples were submitted for analyses at Actlabs of Thunder Bay, Ontario. Surface samples taken in recent trenching are pending.

Third round of 2021 surface sample highlights (see Figure 1):

• 29 samples returned assays greater than 500 ppb gold;
• 12 samples graded from 1.00 g/t and up to 2.99 g/t gold;
• 9 samples in excess of 3.00 g/t gold; and,
• 3 samples assayed greater than 30 g/t gold.

Mr. Karim Rayani, President and Chief Executive Officer commented, "Marvel's Blackfly Gold Project is strongly living up to its potential. The surface samples reflect the wide variety of gold targets - some we knew of, and some are shaping up to be first time discoveries. The diamond drilling is now well underway and visually the core is looking very promising."

Marvel's Blackfly Gold Project

The Property is located in the developing Atikokan gold mining camp along and within the Marmion Lake Fault Zone, approximately 13.6 kilometers ("km") southwest of Agnico Eagle's Hammond Reef Gold Deposit.

Assessment file records indicate that the original Blackfly gold discovery was made in 1897, making the occurrence one of the earliest found in the Atikokan gold mining camp. The project's 45-foot shaft was sunk in 1898 shortly after gold was discovered. Several companies have added to the database of the Property including: Rebair Gold Mines Ltd. (1945 to 1948), Steeprock Mines Ltd. (1949 and again in 1961), Aavdex Corporation (2004) and TerraX Minerals Inc. (2009 to 2012).

Gold mineralization on the Blackfly Gold Project is occurring in several hosts and with varied mineralized styles, ranging from traditional gold in quartz veins to gold occurring in highly altered host rocks. Mineralization is developed within altered northeast trending, steeply dipping structures that obliquely cut the regional foliation.

The first 3 drill holes are now complete and core logging is underway. The field team believes that gold zones were reached in each hole with visible gold found in a vein intersected at a depth of 8m in drill hole BF21-15.

Sample ID	Au (g/t)	Description
W1069752	0.566	GAB/QV - green, sheared with 5% mm quartz-ankerite veins and 4% pyrite in halos, fly rock
W1069636	0.685	GRDR/QV - chlorite-sericite altered, 13% QVs, 2.5% coarse pyrite and local chalcopyrite
W1069623	0.689	QV - 20cm vein cuts GRDR-GAB contact, 1% galena, pyrite and chalcopyrite, fly rock
W1069935	0.754	QV - 20cm rusty, in GAB, with 25% pyrite and 2% chalcopyrite in stringers
W1069619	0.845	GRDR - sheared, chlorite-ankerite altered, 3% pyrite, hematite stained
W1069634	0.845	GRDR - 5cm band of sheared GRDR within QV (xenolith), 5% pyrite
W1069646	0.932	GRDR - pale green, strong silica-sericite-ankerite alteration, 10% quartz veins, 4% pyrite
W1069907	0.976	GRDR - strongly altered with 15% QV, 3% chunky disseminated pyrite
W1069633	1.01	QV - east side of 1m vein in mafic rock, white, sericite-chlorite-pyrite seams; 30cm chip sample
W1069764	1.03	GAB - schistose, ankerite-sericite-silica-chlorite altered, 2% pyrite, fly rock.
W1069638	1.04	GRDR - schistose, strongly silica-sericite-ankerite altered, 3% pyrite, 3m shear.
W1069631	1.06	GRDR/QV - silica-sericite-ankerite altered with 25% QVs, 5% pyrite, fly rock
W1069626	1.25	GAB - strongly chlorite-ankerite-silica altered, 20% QVs and 4% disseminated pyrite
W1069713	1.39	QV - 4-10cm wide, 5% pyrite and chalcopyrite with local malachite and bornite
W1069931	1.69	QV - 5cm rusty with 5% chunky pyrite along margin and fine chalcopyrite in halo
W1069765	1.74	GAB - extremely ankerite-sericite-chlorite altered with 3% QVs and 5% pyrite
W1069714	1.75	QV - 4-10cm wide, rusty weathering, with 5% coarse pyrite and chalcopyrite
W1069736	1.81	QV/GAB - with quartz blobs throughout outcrop and 1% pyrite
W1069958	1.95	GRDR/QV - 15cm vein next to shear zone with 3% pyrite, 0.5% galena
W1069630	2.04	GRDR/QV - strongly silica-sericite-ankerite altered, 1% cubic pyrite in veins and seams
W1069766	3.32	GAB - ankerite-sericite-chlorite altered, 5% irregular QVs, 5% pyrite, 1% chalcopyrite
W1069632	3.53	GRDR/QV - 17cm QV in altered GRDR with 1.5% pyrite, fly rock
W1069643	5.34	GRDR - schistose, strongly silica-sericite-ankerite altered, 10% pyrite, 6m shear.
W1069629	6.85	GRDR - fly rock in trench, strongly silica-sericite altered, 20% QV 5% pyrite.
W1069751	10.4	GRDR - strongly silica-sericite-pyrite altered, mm QVs
W1069650	16.1	QV - boudinaged veins in GRDR with 3% rotted out pyrite halos
W1069754	31.1	QV - 20cm fly rock from shaft; white, 10% pyrite in fine bands
W1069753	33.8	QV - 10cm wide with cubic pyrite in bands
W1069635	64.8	QV - 1m wide, centre of vein, 1% rusted out pyrite
Colour key		0.50 to 0.99 g/t
		1.00 to 2.99 g/t
		3.00 to 64.8 g/t

Table 1: List of select samples taken during the 2021 exploration work on the Blackfly Gold Project. Legend of units; GRDR - granodiorite, GAB - gabbro, and QV - quartz vein. Note - grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.

2021 Exploration Program

The 2021 exploration program on the Project is a continuation of the work initiated in 2020 that included a compilation of historical information and reports and completion of its high-resolution airborne magnetics and time-domain electromagnetic data collection over 203 line-kilometers at 100m spacing. Several geophysical anomalies were identified and targets for follow-up were recommended. Marvel's geological team began the 2021 program work of prospecting, bedrock mapping and rock sampling. Trenching is being done for further definition of the gold mineralization associated with the known anomalies and geological structures. Diamond drilling is underway with 16 drill holes planned for the summer field season.

QA/QC and Sampling Protocols

Samples collected in 2021 were analyzed by Activation Laboratories, an ISO/IEC 17025:2017 accredited facility. Samples were collected in the field and transported and stored in Falcon's secure facility located near Atikokan, Ontario until their transportation by Falcon personnel to Activation Laboratories' sample preparation facility in Thunder Bay, Ontario. Gold was analyzed by fire assay with an Atomic Absorption finish; samples with >5 g/t Au were re-analyzed by fire assay with gravimetric finish. Certified gold reference standards and blanks were regularly inserted into the sample stream. Gold results herein varied from below detection to 52.50 g/t. No quality control/quality assurance issues were noted with the results reported herein.

Figure 1: Plan of the Blackfly Gold Property showing the locations and surface sample grade ranges for the 2021 exploration program.

Qualified Person

The technical content of this news release has been reviewed and approved by Mike Kilbourne, 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 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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FAQ

What are the latest assay results for Marvel Discovery Corp. (MARVF)?

The latest assay results indicate significant gold mineralization, with 29 samples over 500 ppb gold and 3 exceeding 30 g/t gold.

What is the status of Marvel Discovery Corp's drilling program?

Marvel's drilling program is ongoing, with initial holes completed showing visible gold.

Where is the Blackfly Gold Project located?

The Blackfly Gold Project is located near Atikokan, Ontario.

What were the key findings from the July 8, 2021 press release for MARVF?

Key findings include notable gold assays and ongoing drilling, confirming the project's strong gold potential.