VANCOUVER – Marvel Discovery Corp. (TSX-V: MARV) (Frankfurt: O4T1) (MARVF: OTCQB) (‘Marvel’ or the ‘Company’) is pleased to announce the recent acquisition of an additional 53 mining claims totaling 1,325 hectares of land to add to the Company’s existing land position on its Victoria Lake Gold Project.
The claims were acquired through an option agreement with a vendor and increases Marvel’s land holdings in the area to 7,650 hectares. This new acquisition is located along the Exploits Subzone and covers a large highly prospective structural zone proximal to the Valentine Lake Shear Zone which hosts Marathon Gold’s (MOZ) Valentine Gold Project with resources of 4M oz. of gold (www.marathon-gold.com). The newly acquired claims contain the highest regional gold-in-till sample in the Newfoundland Geoscience Atlas reporting 785ppb Au. There were no subsequent exploration efforts to follow-up on this extremely high gold-in-till sample. Till samples exceeding 70 ppb Au are considered highly anomalous (Roland Quinlan, personal communication).
Regional gold-in-till samples have increasingly been successful in the Central Newfoundland Gold Belt in vectoring exploration efforts to those areas of high merit leading to an increase in new gold showing discoveries. The Victoria Lake Gold Project is host to interpreted extensions of the Valentine Lake Shear Zone and two major thrust faults, a wide structural corridor interpreted to play an integral part in the Marathon Gold Deposit.
Mr. Karim Rayani, President and Chief Executive Officer commented, ‘These claim additions were a strategic move, not only in expanding the size and potential, but tying up ground with the highest gold till-in-soil samples in the province of Newfoundland. This shows we are in the right place for a potential discovery adjacent to what will likely become Newfoundland’s next and largest gold mine. We now have 7,650 hectares tied on to Northern Atlantic’s largest gold deposit. In addition, our prospecting work will be carried out by Roland Quinlan, Roland was responsible for selling part of the Queensway project to New Found Gold. He is the vendor of these claims – I could not be happier to have him apart of the Marvel Story.’
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)
Tel: 604 716 0551
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