Marvel Discovery Corp. (TSXV:MARV) (FRA:O4T1) (OTCPINK:IMTFF) – which in February 2020 changed its name from International Montoro Resources Inc – has been listed on the TSX Venture Exchange for more than 25 years and is also listed in Frankfurt.
It has 10 projects currently and is looking for gold, nickel, copper, cobalt and vanadium in Ontario, Quebec, and Newfoundland, while also being on the hunt for rare earth elements (REE) and uranium in British Columbia.
The group’s goals are to identify targets via airborne surveys and sampling, initiate targeted drilling and develop projects through to compliant resource status.
It has 2,250 hectares via its Camping Lake gold prospect claims in the famous and active Red Lake mining district of Ontario, where it is earning a 51% interest in five claims. It has also acquired 2,138 hectares at the Wicheeda North rare earth claims in the Rocky Mountain rare metal belt of British Columbia.
- The Camping Lake gold prospect in Red Lake, Ontario
- The Serpent River/Pecors, a nickel-copper-platinum group elements discovery and uranium-rare earth elements in Elliot Lake, Ontario
- The Duhamel nickel-copper-cobalt prospect, and titanium, vanadium and chromium prospect in Quebec
- The Wicheeda rare earth elements prospect and Cup Lake/Donen Uranium deposit in British Columbia
- The Slip and Victoria Lake gold prospects in Newfoundland
- The BlackFly gold prospect in the town of Atikokan, Ontario
- The Uranium City project on the north shore of Lake Athabasca, Saskatchewan
- The Ungava nickel project in Quebec which is close to Falcobridge’s Delta-Oasis property
How is it doing?
2021 looks to be transformational for the company in more ways than one, On February 22 of this year, the company’s name-change to Marvel Discovery Corp. was approved by the TSX Venture Exchange. The company began trading under its new name and new trading symbol (MARV) on February 24. The name-change was done without any share consolidation.
On March 17, the renamed company revealed that it will ask shareholders to consider proposals to spin-out its Serpent River/Pecors and Wicheeda North properties.
The company is has the plan to spin out the Serpent River/Pecors and Wicheeda North properties into a newly incorporated, wholly-owned subsidiary of the company, to be called Power One Resources Corp.
The company said it is proposed that the spin-out will result in its shareholders receiving one common share of Power One for every five common shares held in the company. There will be no change in shareholders’ holding in the company as a result of the spin-out, it added.
Marvel Discovery said further details of the spin-out will be announced in the near future and it cautioned shareholders that the final details are still to be determined and there is no certainty that the spin-out will be completed on the terms currently proposed or at all.
In December 2020, the company had received an extension to its drill permit for the 1,840-hectare Pecors nickel, copper, platinum group elements project, which meant the company can further investigate the asset, allowing it to delineate the extent of nickel, copper, and PGM mineralization discovered in 2015 diamond drilling and a VTEM survey on the Pecors anomaly.
With other projects, on January 26, the company said it had added another 2,650 hectares of land to its Victoria Lake project in Newfoundland. The acquisition brings the Vancouver-based company’s total land holdings in the province to 10,650 hectares along the Exploits Subzone, which covers a large, prospective structural zone near the Valentine Lake shear zone.
It said it staked the new claims after going through detailed structural analysis of data from airborne magnetic surveys in the area. According to the explorer, the studies showed an “extremely complex” structural framework and a complex fault pattern that is geologically similar to the prolific Abitibi region of Ontario and Quebec. The new claims are six kilometres west of the Leprechaun gold deposit and 14 kilometres southwest of the Marathon gold deposit.
The company said it will start a detailed litho-structural study of the Victoria Lake claim area using magnetics, publicly-available geological data and the current 1km-long gold-in-soil anomaly to vector an upcoming mapping and soil sampling program.
In the boardroom, in January, the company named finance industry veteran Geoff Balderson its chief financial officer (CFO). He replaced Fraser Rieche, who stepped down as CFO but will remain as a director of the company for the ensuing year. It also said it had accepted the resignation of another of its directors, Brent Griffin.
Balderson has over two decades of capital markets experience having worked in both public and private practice and was previously a senior officer with Falcon Gold Corp, a director of several Canadian public companies and a principal of Harmony Corporate Limited.
KARIM RAYANI CEO OF MARVEL DISCOVERY CORP.
CEO Karim Rayani joined Steve Darling from Proactive to bring news the shareholders approved the Spin-Out with its wholly-owned subsidiary, Power One Resources Corp. Rayani telling Proactive the company will now transfer their Serpent River/Pecors and Wicheeda North properties to Power One.
The Company’s website is: https://marveldiscovery.ca/