Marvel Discovery Completes High Resolution Magnetic Survey at Gander East Project, Contiguous to New Found Gold Corp.
VANCOUVER, March 2, 2022 - Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)(MARVF:OTCQB); (the "Company") is delighted to announce it has recently completed a high-resolution heliborne magnetic survey over the Gander East Project Area (see Figure 1 for a location map). The Gander East Project consists of 274 claims totaling 6,850 hectares, which strategically lie adjacent to New Found Gold's ("NFG") Queensway Project. The Queensway Project area lies along the highly prospective, northeast trending Dog Bay-Appleton-Grub Line fault system and where continued drilling by NFG continues to intercept exceptionally high gold grades. NFG's most recent news release dated February 24, 2022, reported 62.3 g/t Au over 2 which extends the Keats Zone 845m down plunge.
Figure 1: Gander East Location Map Showing Strategic Location Adjacent to New Found Gold
The Dog Bay-Appleton-Grub Line fault system is a crustal scale fault zone within Central Newfoundland and these structural corridors are closely associated with recent high-grade gold discoveries and with existing deposits such as Marathon Gold's Valentine Gold Project which hosts 4.78 million ounces of gold. (https://marathon-gold.com/valentine-gold-project/)
The complexities evident within this dataset reveal structural features consistent with those of extensive fault and secondary shear zones and with fold structural patterns evident that were not resolvable with pre-existing regional datasets (Figure 2). These fault structures may be splay zones from the Grub-Line which is located due East of the property boundary, and these are highly favorable for gold mineralization (Figure 3). The secondary and third order structures are evident as linear magnetic features that crosscut the structural corridors. Also present are magnetic features more consistent with volcanic intrusions than altered sedimentary rocks, with such features favorable for Cu-Pb-Zn deposits commonly found in the Buchans area to the west. A detailed structural study has commenced and will be used as a basis to direct field crews for ground follow-up which will include soil geochemistry surveys, prospecting, and mapping.
Figure 2: Comparison of high-resolution magnetic survey to existing regional magnetic government overage. A) Existing regional magnetic signature. B) Juxtaposition of New Found Gold Property and Marvel Gander East property over regional magnetics. C) Area of high-resolution magnetic survey by Marvel over regional government data D) Pronounced difference of high-resolution magnetic signature compared to pre-existing regional government data.
Figure 3. Preliminary structural interpretation of the high-resolution magnetic survey showing 2nd and 3rd order structures conducive for trapping gold-bearing hydrothermal fluids.
Commentary
"The Gander East Project is a strategic land position for Marvel - New Found's Gold project is directly tied on and the Grub line runs right along our ground. We are thrilled with the data sets received, the structural features are consistent with high grade mineralization with major faulting and splays off the Grub Line", said Karim Rayani, Chief Executive Officer of Marvel Discovery Corp. "Our team has quietly staked some of the most prospective, under-explored land positions along and adjacent to the major continental structures in Newfoundland and we feel this is just the beginning, as everyone now is starting to appreciate and understand the importance of these major crustal fault and shear zones. We were not the first to come to the party, but we did position ourselves as a dominant force of strategic ground tied on some of the islands largest defined assets."
Qualified Person
Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
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)
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. There is no assurance any of the conditions for closing will be met. 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
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SOURCE: Marvel Discovery Corp.