VANCOUVER, BC / ACCESS CABLE / Jul 19, 2022 / Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T)(OTCQB:MARVF); (“Wonderful” either the “Company”) is pleased to announce that it has applied for the necessary permits to complete an inaugural diamond drilling program in the DD Zone within the KLR-Walker Uranium Project (“the Property”) in the Athabasca Basin. The drilling program will consist of 10 holes totaling 1,000m, the Company will advise of an estimated start date once all necessary permits are received.
Below is a list of perforations:
Table 1. Planned drilling statistics for the KLR-Walker uranium project.
The objectives of the drilling program will be to drill through the structures in the DD Zone that have been highlighted by the recently completed airborne magnetic survey while utilizing the results of previous backpack drilling to help guide drill hole targets. Structure accommodation the DD Zone will also be investigated to the south towards the Highway Zone (Figure 1).
Figure 1. Planned drilling locations in the DD Zone on total magnetic intensity coincident with VTEM drivers and outstanding historical results at the KLR-Walker Uranium Project.
The DD Zone remains an area of great merit based on:
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Drilling during the 1970s intersected U-values of 0.125%. Backpack drilling conducted by EFU in 2015 uncovered the highway zone, intersecting 1.96%U over 29 cm. U over 41 cm and 0.124% U over 24 cm. The Highway Zone Discovery appears structurally related to and an extension of the DD Zone. A distinct correlation with high values of U and strong magnetic gradients. The Property is located within the Wollaston-Mudjactic Transition Zone (“WMTZ”) of the eastern Athabasca Basin. The WMTZ is home to the highest grade uranium mines in the world (Figure 2). The DD Zone extends beyond the Key Lake Shear Zone, a major fault for structurally controlled Athabasca Basin-type uranium deposits.
“We have made great progress in a short period of time in planning our maiden drilling campaign at the KLR-Walker Uranium Project. The DD Zone represents a target area of high merit and potential for success. After careful study, compilation and interpretation, we have planned 10 drill holes to test for favorable structurally related uranium, a key ingredient for the large uranium deposits of the Athabasca Basin. We look forward to organizing the drilling teams once the necessary drilling permits are received.” stated Karim Rayani President and CEO, Director.
Figure 2. Location of the KLR-Walker Uranium Project in the WMTZ Zone which hosts the highest grade uranium deposits in the world.
The DD Zone
The DD Zone is close to and along the strike of the Fission 3.0 Hobo Lake uranium properties. Hosted within WMTZ, the DD Zone lies along the Key Lake Shear Zone and is home to 10 uranium projections and multiple uncharted EM targets (Figure 3).
Figure 3. DD Zone location, neighbors, VTEM drivers, uranium occurrences along the Key Lake Shear Zone.
Like its neighbor to the west, Arrow Deposit, owned by NexGen Energy, sits along a structural corridor similar to that of the Marvel properties. The Arrow1 Deposit, which has undergone a Positive Feasibility Study with strong economics, contains Probable Reserves of 239.6 million pounds U3O8 averaging 2.37% U3O8 and Measured and Indicated Resources of 256.7 million pounds. of pounds with an average grade of 3.1% U3O8. Arrow Deposit is the largest undeveloped uranium deposit in Canada.
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, Disclosure Standards for Mineral Projects.
About Marvel Discovery Corp.
Listed on the TSX Venture Exchange for over 25 years, Marvel is a Canadian-based emerging resource company. The Company is systematically exploring its extensive ownership positions in:
Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte and Hope Brook – Australian prospects)Atikokan, Ontario (Black Fly – Au prospectus)Elliot Lake, Ontario (East Bull– Leaflet Ni-Cu-PGE)Quebec (Duhamel-Ni-Cu-Co prospect and titanium-vanadium-chromium prospect)Prince George, British Columbia (Wicheeda North – Rare Earth Element Leaflet)
The company website is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARD
Marvel Discovery Corp.
Telephone: 604 716 0551 email: [email protected]
Forward-Looking Information Disclaimer:
Certain statements 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 about beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this Press release they relate to, among other things, the termination of the proposed Arrangement. Actual future results may differ materially. There can be no guarantee that such statements will be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no guarantee that any of the conditions for closing will be met. 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 that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this press release with respect to these times. 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.
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FONT: Marvel Discovery Corp.