Marvel Discovery Corp. Receives First Assays 2021 Blackfly Gold Project, Ontario
VANCOUVER, June 2, 2021 - Marvel Discovery Corp. (TSXV:MARV)(FRA:O4T1) (OTC PINK:IMTFF)("Marvel" or the "Company") is pleased to report it has received its first 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 the first batch of 78 assays. A further 180 samples have been submitted for analyses at Actlabs of Thunder Bay, Ontario. 2021 Sample Highlights:
- 40 of the 78 samples returned assays greater than 100 ppb gold
- 7 samples graded from 1.00 g/t and up to 2.99 g/t gold
- 15 samples in excess of 3.00 g/t gold of which 4 samples assayed greater than 10 g/t gold with coarse visible gold noted in sample W1069699 that assayed 24.3 g/t gold
- Identification of potential new drill targets outside area of shaft veins
Figure One: Current & historical surface sample sites and strengths for the Blackfly Gold Project.
Table One: List of select samples taken during the initial 2021 exploration work on the Blackfly Gold Project. Legend of unit; DIOR - diorite, GRDR - granodiorite, GRAN - granite, MAF - mafic dike, QV - quartz vein
The mineralized samples occur within strongly silica-sericite-ankerite-pyrite ± chlorite altered and veined granodiorite and diorite, with local shearing. Accessory sulphide phases include galena, chalcopyrite and bornite. Host rocks retain a well-developed, steeply dipping northeast trending foliation.
Mr. Karim Rayani, President and CEO commented, "These grab samples show the presence of high-grade gold, visible gold and the potential for both vein-hosted and broad disseminated / stringer mineralization. We are very pleased to finally prepare for our summer drill program to be commenced within weeks."
Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.
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 along strike 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 has begun the 2021 program work of prospecting, bedrock mapping and rock sampling. Trenching is planned for further definition of the gold mineralization associated with the known anomalies and geological structures. Diamond drilling is budgeted to commence in the summer field season with 16 drill holes.
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:
- Victoria Lake, Exploits Zone, Newfoundland (Au Prospects)
- Slip Gold, Exploits Zone, Newfoundland (Au Prospects)
- BlackFly, Atikokan, Ontario (Au prospect)
- Camping Lake, Red Lake, Ontario (Au prospect)
- Duhamel, Quebec (Ni-Cu-Pd-Co prospect & Titanium, Vanadium, and Chromium)
For more information on Marvel, please visit the Company's website: https://marveldiscovery.ca/.
ON BEHALF OF THE BOARD
"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. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.
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SOURCE: Marvel Discovery Corp.