MARV: TSX-V
O4T1:
GR
MARVF: OTCQB
VANCOUVER, BC, Aug. 11, 2021 /CNW/ - Marvel Discovery
Corp. (TSXV: MARV), (Frankfurt: O4T1), (OTCQB:
MARVF); ("Marvel" or the "Company") is pleased
to announce it has acquired through staking and via 2 separate
option agreements 1185 claims (the "Property") totaling
29,525 hectares located along the Baie Verte Brompton Line, Central
Newfoundland Belt. Currently, all of Newfoundland's gold production comes from
Anaconda Mining Inc.'s Point Rousse and Rambler Metals Mining
Operations on the Baie Verte Peninsula. These two producing
mines along with past producers such as the Terra Nova Mine, and
deposits of the Rambler Mining Camp, are in close proximity to the
Baie Verte Brompton Line (BVBL). There are more than 100 gold
prospects and zones, many of which are orogenic-style, related to
major splays and related second-order structures linked to the Baie
Verte Brompton Line. Marvel has acquired ground over a 70km
corridor along the BVBL.
The new claims are also 13km southwest of the Lunch Pond South
Extension Deposit ("LPSE") on Glover Island owned by Mountain Lake
Resources. The LPSE deposit is located at the south-western portion
of an 11km mineralized corridor known as the Glover Island Trend
("GI Trend"). The GI Trend is host to 17 gold, base metal, nickel
and polymetallic mineral prospects in addition to numerous gold
anomalies. The GI Trend and new Property lies adjacent to the BVBL
a major crustal scale suture which separates the Humber Zone
Terrane to the west from the central Newfoundland Dunnage Zone to
the east. The GI Trend hosts numerous gold anomalies that cross-cut
several rock types. The LPSE hosts indicated and inferred resources
of 120,000 ounces of gold (P&E Mining Consultants Technical
Report, June 2017).
The new land acquisition is also proximal to the Four Corners
Project held by Triple Nine Resources (Figure 2). The Four Corners
Project consists of iron-titanium-vanadium-mineralized rock which
has been outlined for 3,000 metres in strike with intercepts 200
metres wide and 600m vertically. The
project contains sufficient tonnage and grades to warrant
developing a world-class mineral
resource (https://triplenineresources.com/2020/10/triple-nine-updates-new-initiatives-on-the-four-corners-project/).
Karim Rayani Chief
Executive Officer commented, "We are
extremely pleased to have acquired such a large land package
covering 70kms of strike along a trend of defined deposits. This
adds to our impressive portfolio of holdings getting us nearer our
objective of making Marvel one of the predominant holders of lands
in Newfoundland along major
continental-scale structures. We look forward to performing high
resolution magnetic surveys over our entire property position and
integrating mineralization trends and historical results to vector
exploration efforts to those areas of high merit."
TERMS OF THE TWO OPTION AGREEMENT
1. Sandy Pond Claims
The Company shall pay to the Vendor as follows:
(a) Paying $25,000 within fifteen
(15) days of the Effective Date;
(b) issue 400,000 common shares in the Company within fifteen (15)
days of the Effective Date;
(c) issue 200,000 warrants valued at $0.25 per share exercisable
for a period of two years, within fifteen (15) days of the
Effective Date.
(d) Paying $25,000 within 60 days of the Effective Date.
The Purchaser shall pay $600,000
CDN upon completion of a bankable feasibility study to the
Vendor. Upon completion of this payment the Vendor shall return all
(100%) of the 0.5% NSR Royalty to the Company at no additional cost
to the Company. This $600,000 CDN
payment may be paid in cash or common shares, or combination of
both at the discretion of the Company.
2. Baie Verte Claims
The Company shall pay to the Vendor as follows:
(a) Paying $30,000 within
fifteen (15) days of the Effective Date;
(b) issue 200,000 common shares in the Company within fifteen (15)
days of the Effective Date.
There is no NSR Royalty on the Baie
Verte claims.
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.
The QP has not completed sufficient work to verify the historic
information on the properties comprising the Baie Verte Line
property, particularly regarding historical exploration,
neighbouring companies, and government geological work. The
information provides an indication of the exploration potential of
the Baie Verte Line property but may not be representative of
expected results.
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
and Hope Brook – Au
Prospects)
- Atikokan, Ontario (BlackFly –
Au Prospect)
- Red Lake, Ontario (Camping
Lake – Au Prospect)
- Elliot Lake, Ontario
(Serpent River/Pecors
-Ni-Cu-PGE Discovery) & (Uranium- REE's)
- 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. 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
Neither 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/marvel-acquires-ground-along-the-baie-verte-brompton-line-central-newfoundland-belt-301353439.html
SOURCE Marvel Discovery Corp.