Marvel Reports Further Assays, Hits 52.5 G/T Gold from Sampling Program, Blackfly Project
Marvel Discovery Corp. (TSX-V:MARV, MARVF:OTCQB) has announced positive assay results from its ongoing exploration program at the Blackfly Gold Project near Atikokan, Ontario. With 144 assay results received, 14 samples returned over 50 ppb gold, including 2 samples between 1.00 g/t and 2.99 g/t, and 3 samples exceeding 3.00 g/t, with one at 52.5 g/t highlighting a new drill target. The exploration efforts, part of a comprehensive program initiated in 2020, include geophysical anomaly assessments, prospecting, and diamond drilling of 16 planned holes.
- 14 out of 62 samples returned anomalous assays exceeding 50 ppb gold.
- Two samples graded between 1.00 g/t and 2.99 g/t gold.
- Three samples exceeded 3.00 g/t gold, with one sample returning 52.5 g/t, indicating a new drill target.
- Drilling program is underway with 16 holes planned for the summer season.
- None.
VANCOUVER, BC / ACCESSWIRE / July 5, 2021 / Marvel Discovery Corp. (TSX-V:MARV), (Frankfurt:O4T1), (MARVF:OTCQB); ("Marvel" or the "Company") is pleased to report it has received its second of three rounds of assay results from its 2021 exploration program on the Blackfly Gold Project near Atikokan, Ontario. The Marvel geological team has conducted the initial prospecting, field mapping and sampling, and has now received another 62 assays for a total so far of 144 results. A further 204 samples have been submitted for analyses at Actlabs of Thunder Bay, Ontario.
2021 Sample Highlights:
- 14 of the 62 samples returned anomalous assays greater than 50 ppb gold;
- 2 samples graded from 1.00 g/t and up to 2.99 g/t gold;
- 3 samples in excess of 3.00 g/t gold of which 2 samples assayed greater than 10 g/t gold; and,
- Identification of potential new gold zone southeast of the shaft area with a sample that returned 52.5 g/t gold representing a new drill target.
Table 1: List of select samples taken during the 2021 exploration work on the Blackfly Gold Project. Legend of units; DIOR - diorite, GRDR - granodiorite, GRAN - granite, MD - mafic dyke, FV - felsic volcanic, GAB - gabbro and QV - quartz vein. Note - grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.
Gold mineralization on the Blackfly Gold Project is clearly being presented 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.
Mr. Karim Rayani, President and Chief Executive Officer commented, "These results along the historic shaft correlate to the Blackfly's tremendous potential, we have zoned in on a number of high-grade targets. With the sampling now completed we have started our next phase of exploration. We anticipate more exciting results with the drilling program now underway."
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).
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.
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
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