Marvel Increases Land Holdings at KLR-Walker Uranium Project, Tied to Cameco & Fission - Athabasca Basin
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VANCOUVER, BC / ACCESSWIRE / October 4, 2023 / Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce it has acquired through staking an additional 3,422 hectares of prospective claims at the KLR-Walker Uranium Project, located on the east side of the Athabasca Basin. With the new claims, the area of the KLR-Walker Uranium Project has risen to 7,017 hectares (Figure 1). In total, the Company now controls over 17,612 hectares within the Wollaston-Mudjactic Transition Zone ("WMTZ"), which hosts the highest-grade uranium mines in the world (Figure 2). Marvel is also jointly exploring, on a 50-50 basis, the Walker Creek claims with Carmanah Minerals Corp. (CSE:CARM).
Mr. Karim Rayani, Chief Executive Officer, commented, "Uranium presents an intrinsic value proposition now more than ever as the world looks to cleaner energy sources. The heightened supply risk caused by geopolitical developments have helped the recent surge in uranium prices. Marvel's expansion at KLR is nothing short of Marvelous. The corridor along the Key Lake Shear Zone represents a tremendous opportunity in mimicking the success of basement-hosted uranium deposits found on the western side of the Athabasca Basin like NexGen Energy's Arrow Deposit. Our newly expanded ground is perfectly situated tied to Skyharbour's Key Lake projects as well as Cameco and Fission's ground. We look forward to reporting back in the coming weeks on our next phase of exploration drilling at KLR."
Figure 1. Highway North, Walker, KLR and new claim groups along the Key Lake Fault with prominent VTEM conductor trends.
All Properties straddle the Key Lake Fault Zone within the WMTZ, an important corridor for structurally controlled Athabasca Basin type uranium deposits (Figure 2). The Arrow Deposit, owned by NexGen Energy lies along a similar structural corridor as the Marvel properties. The Arrow Deposit, which has undergone a Positive Feasibility Study with robust economics contains Probable Reserves of 239.6 million lbs. of U3O8 at an average of
The new claims groups are contiguous to some of the largest uranium producing mines and successful exploration companies in the eastern Athabasca Basin including Cameco Corporation, Fission 3.0, and Skyharbour Resources.
Figure 2. Location of the Walker- KLR Uranium Project in the WMTZ Zone, host to the highest-grade uranium deposits in the world.
The Company also notes that it has engaged GRA Enterprises LLC., in association with the National Inflation Association ("NIA") to enhance investor knowledge of the company's Energy (Uranium) and Battery Metals holdings.
NIA was established during the 2008/2009 global financial crisis with the objective of educating the public about the truth regarding monetary policy and how the Federal Reserve's manipulation of interest rates leads to price distortions, malinvestment, asset bubbles, and income/wealth inequality. NIA provides its members with priceless information about the global economy and financial markets that the mainstream media refuses to discuss. NIA advocates for a return to the gold standard and provides analyses of the Energy, Battery Metals, and the Precious Metals Markets, that could be positioned to thrive during an inflationary environment. Services will include the production and publication of investor bulletins, distribution of investor bulletins to the Consultant's email-lists, and posts via the Consultant's social media accounts. GRA will be paid a fee of
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. The QP has not completed sufficient work to verify the historic information on the additional acquired ground particularly regarding historical exploration, neighbouring companies, and government geological work.
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: 604 716-1036 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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