Marvel Discovery (MARV.V) announced that they have acquired a significant land position within the Hope Brook Area.
The land consists of 763 claims totaling 19,075 hectares and is strategically located and contiguous to First Mining Gold and to Sokoman Minerals-Benton joint venture. Hope Brook is in southern Newfoundland and is nearby to the town of Burgeo.
The Hope Brook mine is owned by First Mining Gold, with Big Ridge also having a flexible interest in the project. Their project has an indicated 5.5 Mt at 4.77 g/t Au and an inferred 0.84 Mt at 4.11 g/t Au, containing, totaling 844,000 oz indicated and 110,000 oz inferred of gold.
Marvel’s new claims are also adjacent to Sokoman Minerals and Benton Resources’ Joint Venture, which they say is accessible via the Burgeo highway. However, Sokoman and Benton have not fully explored the property yet, so it is still difficult to judge the quality of the mineralization.
The land consists of 763 claims totalling 19,075 hectares and is strategically located and contiguous to First Mining Gold and to Sokoman Minerals-Benton joint venture.
“The Hope Brook and surrounding area has been the focus of increased activity notably led by First Mining Gold and Sokoman Minerals over the last few months, this highly prospective and strategic land package covers 19,075 hectares and is directly tied on to both. This positions Marvel in three of the key exploration and development areas within the Island, comprising Victoria Lake, Gander Zone and Hope Brook areas. Much of the area has already been covered with extremely high quality and high-resolution magnetic surveys, we have started our first phase of applying litho-structural analysis and interpretive techniques across this highly prospective area. This brings our total land holdings to approximately 50,000 hectares with the objective of reaching a total of 100,000 in what I consider the three most important areas,” commented Marvel CEO Karim Rayani.
Buying claims adjacent to other mines in areas that are being explored is Marvel’s bread and butter, and they have executed another such deal here.
Marvel began trading on the OTCQB Venture Market today under the symbol MARVF today.
In other Marvel Discovery news, Marvel began trading on the OTCQB Venture Market today under the symbol MARVF today. Marvel joined the OTCQB last week under the ticker IMTFF, but likely felt it would be simpler for the ticker to be closer to their TSX Venture listing.
Speaking on the original OTCQB listing last week, Rayani stated “The QB listing will broaden our shareholder base in the U.S. to wider audience and expand our visibility creating better transparency allowing various platforms in the U.S. to execute orders with greater clarity creating more opportunity to share our story with our neighbors next door.”
Following the news of the Hope Brook claims, Marvel Discovery shares are up 2 cents, and are currently trading at $0.145.
Full Disclosure: Marvel Discovery is an Equity Guru marketing client.