Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Gold anomalies up to 756.1 ppb have been identified
  • Targets of merit identified by work will be followed up by additional prospecting and geological mapping
  • Gold mineralization models along the Exploits Subzone are based on structural settings analogous to those reported for Fosterville in Victoria, Australia
  • “This unexplored property provides high chances of success with a strategic location near the high-grade gold discoveries made by New Found Gold”
  • Marvel Discovery Corp’s (MARV) share price remained unchanged at C$0.095 as of 12:56 pm EDT

Marvel Discovery Corp. (MARV) has commenced its 2022 exploration program at the company’s 100 per cent-owned Gander North Property.

The exploration program commenced in June, with initial prospecting being completed. Preliminary efforts have identified evidence of 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.

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.

Karim Rayani, CEO of Marvel Discovery Corp, commented on the program’s potential.

Photo courtesy karimrayani.com

“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. 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”.

The Gander North Property is comprised of 478 contiguous claims covering 11,785 hectares, and is located northeast of Gander NL.

Marvel Discovery Corp’s (MARV) share price remained unchanged at C$0.095 as of 12:56 pm EDT.

More From The Market Herald

" Independence Gold (TSXV:IGO) announces $1.3 million financing

Independence Gold Corp. (IGO) has proposed equity financing for gross proceeds of up to $1,300,000.

" Golden Sky Minerals (TSXV:AUEN) releases results from Phase 2 program at its Rayfield Property

Golden Sky Minerals (AUEN) announced results from its Phase 2 2022 soil geochemical sampling program.

" Rackla Metals (TSX:RAK) announces $2M non-brokered private placement

Rackla Metals (RAK) announced a non-brokered private placement for proceeds of up to $2.0 million.

" Appia Rare Earths & Uranium (CSE:API) releases assay results from Alces Lake 2022 prospecting program

Appia Rare Earths & Uranium Corp. (API) has released assay results from its Alces Lake 2022 prospecting program.