VANCOUVER, BC / ACCESSWIRE / May 11, 2022 /Marvel Discovery Corp. (TSXV:MARV), (FRA:O4T1), (OTCQB:MARVF); ("Marvel", or the "Company") is pleased to announce a Joint Venture agreement to expand our land position within the Rocky Mountain Rare Metal Belt. The Company has the right to earn a 50% interest from a private company, Eagle Bay Resources, upon completion of at least 2 (two) drill holes. The 507 hectarehectare claim block is located immediately adjacent to the west of the Wicheeda Project of Defense Metals.
Defense Metals has recently been expanding the value of their Wicheeda Project through deposit definition drilling. Recently announced results (April 21, 2022) include 3.81% TREO over 116.8 metres, including two separate higher-grade intervals averaging 4.33% TREO over 38.8 metres, and 4.87% TREO over 37.5 metres. (Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Marvel's Property.)
Karim Rayani, President and Chief Executive Officer, commented, "We are very excited with the current developments coming out of the Wicheeda Camp. Marvel is in a great position now as we control a sizeable area of influence, and we look forward to working with our new partner Eagle Bay Resources to explore this new territory."
The Defense Metals Wicheeda REE Property is located in the Foreland Belt of the Canadian Cordillera, within the structurally dominant NW-trending Rocky Mountain Trench. The Rocky Mountain Trench is recognized for the occurrence of several Paleozoic carbonatite-syenite intrusion-related complexes that were geologically deformed, tilted, and transported to the east in thrust panels. The REE-enriched carbonatites located on the Defense Metals property is part of a narrow, elongate, southeast-trending intrusive carbonatite-syenite complex utilizing a structural panel within sedimentary sequences of the Cambrian to Ordovician Kechika Group.
Carbonatite-related rocks are exceptionally rare, with less than 700 complexes known worldwide. They are a major host for rare metals (REE's), such as niobium and tantalum, and rare earth elements (REE's), and are also known to host economic concentrations of copper, goldgold, and other base metals. The world's largest niobium mine, Araxa in Brazil, and several of the world's largest-rare earth element deposits, including Lynas Corporation's Mt. Weld deposit in Australia and MP Material's Mountain Pass Deposit in the United States, are all hosted by carbonatites. Mineralization and REE deposits described above are not necessarily indicative of the mineralization on the Property.
Marvel's original Wicheeda North Property, consists of two mineral claims, which encompass 2023 ha. This new JV brings the company's total land holdings within the Wicheeda Rare Earth Metal Belt to 2530 ha covering a total of 4 claims.
Marvel Discovery Corp., Tuesday, May 10, 2022, Press release picture
Qualified Person
The technical content of this news release has been reviewed and approved by Neil McCallum, P.Geo., of Dahrouge Geological Consulting Ltd., 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:
Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte, and Hope Brook - Au Prospects)
Athabasca Basin, Saskatchewan (Highway North - Uranium Project)
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)
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.
