2022-07-19 | TSXV: MARV | Press release

VANCOUVER, BC/ACCESSWIRE/July 19, 2022/Marvel Discovery Corp. (TSXV: MARV) (Frankfurt: O4T) (OTCQB: MARVF); (“Wonder” Wherethe “Company”) is pleased to announce that it has applied for the necessary permits to complete an inaugural diamond drilling program in the DD Zone of the KLR-Walker Uranium Project (“the Property”) in the Athabasca Basin. The drill program will consist of 10 holes totaling 1,000m, the Company will report on an estimated start date once all necessary permits have been received.

A list of drill holes is shown below:

Table 1. Drill hole statistics planned for the KLR-Walker uranium project.

The objectives of the drill program will be to drill through the structures of the DD Zone that were presented by the recently completed airborne magnetic survey while using previous backside drill results to help guide drill targets. The structure hosting the DD zone will also be studied to the south towards the highway zone (Figure 1).

Marvel Discovery Corp., Monday, July 18, 2022, press release photo

Figure 1. Planned drill locations in the DD Zone over full magnetic intensity coincident with VTEM conductors and highlighted historical results on the KLR-Walker Uranium Project.

The DD zone remains a zone of great merit based on:

  1. Drilling from the 1970s intersected U values ​​of 0.125%
  2. Backpack drilling by EFU in 2015 uncovered the highway zone, intersecting 1.96% U over 29 cm. . The discovery of the road zone seems structurally linked and an extension of the DD zone.
  3. A distinct correlation with high U values ​​and strong magnetic gradients.
  4. The property is located in the Wollaston-Mudjactic Transition Zone (“WMTZ”) of the eastern Athabasca Basin. The WMTZ is home to the richest uranium mines in the world (Figure 2).
  5. The DD Zone further straddles the Key Lake Shear Zone, an important fault for structurally controlled type uranium deposits in the Athabasca Basin.

Comment

“We have made great progress in a short time planning our inaugural drilling campaign on the KLR-Walker uranium project. The DD Zone represents a target area of ​​high merit and potential for success. After study, compilation and interpretation, we have planned 10 drill holes to test structurally favorable uranium, a key ingredient in the large uranium deposits of the Athabasca Basin. We look forward to organizing drill teams once the necessary drilling permits will have been received”, declared Karim Rayani Chairman and Chief Executive Officer, Director.

Marvel Discovery Corp., Monday, July 18, 2022, press release photo

Figure 2. Location of the KLR-Walker uranium project in the WMTZ area which hosts the richest uranium deposits in the world.

The DD area

The DD Zone is proximal and strike-striking to the Fission 3.0 Hobo Lake uranium properties. Hosted within the WMTZ, the DD Zone lies along the Key Lake Shear Zone and hosts 10 uranium showings and multiple unexplored EM targets (Figure 3).

Marvel Discovery Corp., Monday, July 18, 2022, press release photo

Picture 3. DD Zone location, neighbors, VTEM conductors, uranium occurrences along the Key Lake Shear Zone.

Like its neighbor to the west, the Arrow field, owned by NexGen Energy, lies along a structural corridor similar to that of the Marvel properties. The Arrow Depot1which has undergone a positive feasibility study with robust economics contains probable reserves of 239.6 million pounds of U3O8 at an average of 2.37% U3O8 and measured and indicated resources of 256.7 million pounds at an average grade of 3.1% U3O8. The Arrow deposit is the largest undeveloped uranium deposit in Canada.

Qualified person

The technical content of this press release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Disclosure Standards for Mining Projects.

References

arrow deposit1 https://www.nexgenenergy.ca/rook-1-project/default.aspx#feasibility-study

About Marvel Discovery Corp.

Marvel, listed on the TSX Venture Exchange for over 25 years, is an emerging resource company based in Canada. The Company systematically explores its large real estate positions in:

  • Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte and Hope Brook – At Outlook)
  • Atikokan, Ontario (Black fly – To Prospect)
  • Elliot Lake, Ontario (East Bull – Ni-Cu-PGE perspective)
  • Quebec (Duhamel –Prospect Ni-Cu-Co & Prospect Titanium, Vanadium and Chromium)
  • Prince George, British Columbia (Wicheeda North – Prospecting for rare earth elements)

The Company’s website is: https://marveldiscovery.ca/

ON BEHALF OF COUNCIL

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 contained in this release are forward-looking statements that reflect management’s expectations. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. The forward-looking statements contained in this press release relate to, among other things, the 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 can be no assurance that the closing conditions will be satisfied. Forward-looking statements reflect beliefs, opinions and projections as of the date the statements are made and are based on a number of assumptions and estimates which, while believed to be reasonable by the respective parties, are inherently subject subject to significant business, economic, competitive conditions, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this press release regarding such periods. Except as required by law, the Company undertakes no obligation to update any forward-looking statements of beliefs, opinions, projections or other factors, should they change, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release..

THE SOURCE: Marvel Discovery Corp.

See the source version on accesswire.com:

https://www.accesswire.com/709006/Marvel-Applies-for-Permit-for-Its-Diamond-Drill-Program-KLR-Walker-Uranium-Project-Athabasca-Basin

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