Marvel Defines Drill Targets at DD Zone - Walker and KLR Uranium Project Adjacent to Cameco, Athabasca Basin
VANCOUVER, June 23, 2022 - Marvel Discovery Corp. (TSX-V:MARV), (Frankfurt:O4T), (OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce that after compilation and interpretation of all existing data plus the results of the recently completed the airborne fixed wing magnetic survey, the Company will focus on the DD Zone for upcoming exploration efforts. The DD Zone represents an area of high merit and potential for success within the KLR and Walker Uranium Project ("the Property") in the Athabasca Basin. The study and recommendation for the DD Zone was completed by Exploration Facilitation Unlimited ("EFU").
Highlights of the study prompting Marvel to focus on the DD Zone include:
- Drilling during the 1970's intersected U values of 0.125%
- Backpack drilling by EFU in 2015 discovered the Highway Zone, intersecting 1.96% U over 29cm. Other highlights include 1.57% U over 4 cm 0.279% U over 44cm, 0.20% U over 60cm, 0.175% U over 41cm, and 0.124% U over 24cm. The Highway Zone Discovery appears structurally related and an extension of the DD Zone.
- A distinct correlation with high U values and strong magnetic gradients. (Figure 2)
- VTEM conductors proximal to the higher U values but overburden covered have not been investigated or drilled.
- The Property is located within the Wollaston-Mudjactic Transition Zone ("WMTZ") of the eastern Athabasca Basin. The WMTZ hosts the highest-grade uranium mines in the world (Figure 1).
- The DD Zone further straddles the Key Lake Shear Zone, an important fault for structurally controlled Athabasca Basin type uranium deposits.
"The DD Zone represents tremendous upside potential; the project is perfectly situated next to one of the largest Uranium resources in the world being Cameco that has produced some of the highest-grade Uranium. The Walker and KLR claims cover over 14,000 hectares along the Key Lake fault which is home to Canada's largest Uranium reserves. After careful study, compilation, and interpretation, we have narrowed our focus to a manageable area where precision IP has helped define a number of high priority drill targets. All the pieces of the puzzle are falling into place, and we look forward to initiating ground exploration with the anticipation of our inaugural drilling program later in the year." stated Karim Rayani President & Chief Executive Officer, Director.
Figure 1. Location of the Walker- KLR Uranium Project in the WMTZ Zone host to the highest-grade uranium deposits in the world.
Figure 2. Magnetic Gradients
The DD Zone
The DD Zone is proximal and along strike to Fission 3.0 Hobo Lake uranium properties. Hosted within WMTZ, the DD Zone lies along the Key Lake Shear Zone and hosts 10 uranium showings and multiple unexplored EM targets (Figure 2).
Figure 3. Location of the DD Zone, neighbors, VTEM conductors, uranium occurrences along the Key Lake Shear Zone.
Like its neighbour to the west, the Arrow Deposit, owned by NexGen Energy lies along a similar structural corridor as the Marvel properties. The Arrow Deposit1, which has undergone a Positive Feasibility Study with robust economics contains Probable Reserves of 239.6 million lbs of U3O8 at an average of 2.37% U3O8 and Measured and Indicated Resources of 256.7 million lbs at an average grade of 3.1% U3O8. The 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, Standards of Disclosure for Mineral Projects.
The QP has not completed sufficient work to verify the historic information on the Properties, particularly regarding historical exploration, neighbouring companies, and government geological work. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
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 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.
President/Chief Executive Officer, Director
Tel: 604 716 0551 email: firstname.lastname@example.org
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.
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