Marvel JV Partner Files Drill Permits at Hope Brook Near Kraken Pegmatite Field
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VANCOUVER, BC / ACCESSWIRE / July 25, 2023 / Marvel Discovery Corp. (TSXV:MARV), (FRA:O4T), (OTCQB:MARVF); and Falcon Gold Corp. (TSXV:FG), (FRA:3FA), (OTCQB:FGLDF) together (the Alliance) are pleased to announce that Falcon Gold has applied for drill permits to carry out activities on their Golden Brook prospects within the Hope Brook Property in southern Newfoundland. Two permit applications have been submitted by Marvel's JV Partner, Falcon Gold, one for portable drilling across the property that will expand current prospecting permits and allow for portable drill-testing of targets across the entire property, and a second permit was submitted to diamond drill test prospects within the Kraken-Hydra trend, a trend represented by a 10km area of limited exploration between Benton-Sokoman's Kraken Li-Ta discoveries and the Hydra Cesium Discovery (see Sokoman's news release May 18, 2023).
The portable drill permit application provides the opportunity to enhance the preliminary reconnaissance prospecting project completed in late spring and early summer, which identified the potential for pegmatites from the nearby Kraken pegmatite field to extend into the adjacent tenure held by Falcon. Though bedrock exposure in the area is limited, initial reconnaissance prospecting has resulted in the discovery of a new and previously unrecognized swarm of pegmatite and aplite dykes, and assay results from the sampling project are anticipated by early August. The diamond drill permit application includes 6 drill pad locations with 1,000 meters of drilling planned for 12 drill holes. The inaugural drill program will test for potential lithium, tantalum, and cesium-bearing pegmatites along the Kraken-Hydra trend. The Hope Brook Property covers a key central portion of the structural corridor along which the Kraken and Killick pegmatite dykes, Li-Ta soil anomalies, and Hydra Cesium Pegmatite Dyke have all been reported by Sokoman (see Sokoman's news release March 28, 2023). Marvel JV Partner, Falcon Gold, has applied for financial assistance for the Hope Brook project through Newfoundland's Junior Exploration Assistance (JEA) Program.
Mr. Karim Rayani, Chief Executive Officer, commented, "An extreme fire season in Nfld last summer coupled with helicopter availability shortages meant delaying our inaugural exploration campaign until the spring of this year, and we took advantage of this current program to conduct regional scale prospecting and soil sampling efforts and eagerly await results from the assay lab. We have always been keen on our Lithium prospect, which we staked prior to the Lithium and Cesium discoveries by Sokoman and where our desktop studies showed high potential for the continuation of trends onto our ground. To have found a new swarm of pegmatite dykes is extremely encouraging and we are now gearing up for detailed soil sampling and portable drill testing to further define anomalous areas in advance of our inaugural diamond drilling campaign."
About the Alliance
Marvel and Falcon formed a strategic alliance on (November 17, 2021) that combines both companies' Hope Brook District properties covering a combined 63,450 hectares to be explored on a 50-50 Joint Venture basis. The Hope 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. The Falcon-Marvel strategic partnership originally included the Baie Verte Brompton Line (BVBL) Properties, and both companies announced the option of the BVBL property to Carmanah Minerals Corporation on June 8, 2023.
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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FAQ
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What permits has Falcon Gold applied for?
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