Magna discovers new high-grade copper zone at Shakespeare in Ontario
The project is in a joint venture with Glencore less than 2 km from a feasibility-stage former mine.
VANCOUVER, BC / ACCESSWIRE / August 3, 2021 / Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)OTCQB:MARVF); ("Marvel" or the "Company") is pleased to report on its drilling progress on the Blackfly Gold Project in the Atikokan mining camp of northwestern Ontario. Drilling commenced on June 24th with 9 diamond drills completed to date for 1,116.25m. Drilling has concentrated around the historical shaft area with 4 holes drilled at the Blackfly Northeast Zone. Hole BF19-21 encountered a quartz vein with galena and minor chalcopyrite and several specks of VG at 39.3m, hosted within sheared and strongly bleached diorite (Figure 1).
Figure 1. Specks of visible gold in hole BF21-19 drilled at the Black Fly Northeast Zone. BQTK core of a diameter of 40.7 mm.
Visible gold was also noted in BF21-15 which targeted a newly discovered zone (Mosquito Zone) 100m southwest of the main Black fly Zone. Discovered by mapping and sampling in 2021, VG was noted at a downhole depth of only 8m.
Mr. Karim Rayani, President and Chief Executive Officer commented, "Visible gold is always a very good indicator in drill core when finding it in multiple holes. The geological team reports that holes completed to date all look visually encouraging with quartz-veining, mineralization, alteration and shearing. Our first hole into mineralization discovered during our 2021 sampling and mapping program also reported VG. To date we now have four sub-parallel gold mineralization trends that have been confirmed by drilling."
Drilling to Date
To date 9 diamond drill holes have been completed totaling 1,116.25m (Table 1) (Figure 2). Hole BF21-18A hit a fault and had to be completed as BF21-18B.
Table 1: Table of 2021 drill hole collar locations, azimuth, dip and lengths at the Blackfly Gold project.
To date 456 samples including QAQC insertions have been submitted to the lab for analyses. Channel and surface samples from the 2021 mapping and sampling are also pending. Hole BF21-20 was drilled at the Blackfly Northeast zone where TerraX Minerals Inc. intersected 10.96 g/t Au over 2.0m in 2011. Hole BF21-20 encountered strong ankerite-silica-pyrite+/-sericite altered diorite with galena in several quartz veins.
Figure 2. Drill plan location of the 2021 and historical drilling, Blackfly Gold Project.
Marvel's Blackfly Gold Project
The Property is located in the developing Atikokan gold mining camp along and within the Marmion Lake Fault Zone, approximately 13.6 kilometers ("km") southwest along strike of Agnico Eagle's Hammond Reef Gold Deposit.
Assessment file records indicate that the original Blackfly gold discovery was made in 1897, making the occurrence one of the earliest found in the Atikokan gold mining camp. The project's 45-foot shaft was sunk in 1898 shortly after gold was discovered.
Qualified Person
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.
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:
The Company's website is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARDMarvel Discovery Corp."Karim Rayani"Karim RayaniPresident/Chief Executive Officer, DirectorTel: 604 716 0551 email: [email protected]
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
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SOURCE: Marvel Discovery Corp.
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