Marvel Initiates Exploration at Gander North, Newfoundland

Rhea-AI Summary

Marvel Discovery Corp. has launched its 2022 exploration program at the 100% owned Gander North Property in Newfoundland. The program began in June with initial prospecting revealing quartz vein evidence. Surface samples have been submitted for assays, and plans are in place for additional geological mapping. Notably, the property is adjacent to the Gander Gold Project, where soil gold anomalies of up to 756.1 ppb were recorded. High-resolution geophysical surveys are set to enhance understanding of the magnetic trends to guide future drilling efforts.

Positive

• Commencement of the 2022 exploration program at Gander North Property.
• Initial prospecting has identified quartz veins, indicating potential mineralization.
• Strategic location near significant gold discoveries enhances exploration potential.
• High-resolution geophysical surveys planned to delineate magnetic trends.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / July 21, 2022 / Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce the start of the 2022 exploration program at the Company's 100% owned Gander North Property (the "Property"). The exploration program commenced in June, with initial prospecting being completed. Preliminary efforts have identified numerous evidence for quartz veins, including outcrop and float. Surface samples collected to date have been submitted for assay with results pending. Targets of merit identified by this work will be followed up by additional prospecting and geological mapping. A thorough review of publicly available datasets has resulted in the identification of multiple northeast trending magnetic linear features, with associated fold closures, which suggest a continuation of trends from the nearby Gander Gold Project area where soil in gold anomalies up to 756.1 ppb have been identified. (https://temp.sassyresources.com/PressReleases/Sassy%20Jan%2027%20NR%20FINAL.pdf) High resolution geophysical surveys have been planned for this area which will help to better define and delineate these magnetic trends and together with surface prospecting and mapping will be the focus of a drill program to commence in the fall.

About the Gander North Property

The Gander North Property is comprised of 478 contiguous claims covering 11,785 hectares, and is located northeast of Gander, Newfoundland (Figure 1). The property occurs within the Gander Zone proximal to the Dog Bay-Appleton-Grub fault system, a crustal scale zone that extends southwest from the north coast of Newfoundland for nearly 200km to Gander. Structural corridors in central Newfoundland have shown to be intimately associated with recent gold discoveries including New Found Gold's Queensway project located approximately 20km from Marvel's project, an area of considerable potential that made national headlines recently in an article by the Financial Post (https://financialpost.com/commodities/mining/eric-sprott-makes-his-biggest-bet-yet-on-what-he-believes-could-be-the-greatest-gold-discovery-in-the-history-of-canada).

Figure 1. Location of the Marvel Gander North acquisition along the GRUB line regional deformation corridor.

Northeast trending structural lineaments first recognized by Sassy Resources, who holds property to the immediate southeast, are interpreted to continue onto the Gander North Property (Figure 2). An interpretation of the regional magnetics display NNE trending, ophiolite bearing thrust faults are cross-cut by a series of brittle NE trending fault-fractures, which indicate a regional setting similar to the highly prospective eastern Exploits Subzone. Gold mineralization models along the Exploits Subzone are based on structural settings analogous to those reported for Fosterville in Victoria, Australia (https://exploitsdiscovery.com/projects/).

Figure 2. Location of the Marvel Discovery Gander North Project.

Commentary

"We are excited about our initial exploration program and pending results of our sampling. Initial evidence from prospecting and mapping suggests a geological environment conducive to orogenic gold deposits and occurrences of the Central Newfoundland gold belt" said Karim Rayani, CEO of Marvel Discovery Corp. "This unexplored Property provides high chances of success with a strategic location near the high-grade gold discoveries made by New Found Gold. We look forward to compiling our efforts and success by integrating mineralization trends, historical results and geophysical attributes to vector exploration drilling efforts to those areas of high merit".

Qualified Person

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.

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.

View source version on accesswire.com:
https://www.accesswire.com/709290/Marvel-Initiates-Exploration-at-Gander-North-Newfoundland

FAQ

What is the significance of Marvel Discovery Corp.'s exploration program at Gander North Property?

The exploration program aims to identify gold mineralization, leveraging initial findings of quartz veins and proximity to high-grade gold discoveries.

When did Marvel Discovery Corp. begin its exploration at Gander North Property?

The exploration program commenced in June 2022.

What are the expected outcomes of the geophysical surveys planned by Marvel Discovery Corp.?

The geophysical surveys are intended to better define magnetic trends that may indicate gold mineralization, guiding future drilling efforts.

How does Gander North Property relate to the Gander Gold Project?

Gander North Property is geographically close to the Gander Gold Project, which has reported significant soil anomalies in gold content.

What has been discovered during the initial prospecting at Gander North Property?

Initial prospecting has identified numerous quartz veins and surface samples, with assays pending.