Marvel Discovery Corp. (MARV.V), a Canadian-based junior explorer, is a multi-commodity resource company engaged in the acquisition, exploration, and development of diverse metal assets in Canada.
Today, Marvel Discovery announced it has partly completed drilling operations on its Ni-Cu-Co and Ti-V-Cr Duhamel property north of Quebec City. The Company previously announced on December 04, 2023,that crews were being mobilized, but due to warmer temperatures an increase in water levels caused extreme flooding in nearby creeks and rivers causing the Company to pause drill operations before the Christmas season.
Karim Rayani, Chief Executive Officer, states, “Drilling results planned for late 2023 were delayed due to weather events, however we’re pleased with the progress made so early in 2024. All holes to date have intersected our target areas and to see these wide intervals of sulphide mineralization in our first drill-hole is a very good sign. There remains a plethora of Airborne anomalies to follow-up on this project, and we anticipate a very busy exploration season as we follow these up with low frequency TDEM surface surveys. Moving forward we are immediately planning low frequency BHEM surveys on all holes we drill, something never completed in any of the previous exploration campaigns. This will enable us to leave no rock unturned while giving us a greater chance of success by expanding our exploration radius. We remain bullish on Nickel and Copper prices as supply shortages loom, and demand returns as the push towards electrification and greening of our cities accelerates.”
The Duhamel Property currently contains seven (7) occurrences of Ni-Cu-Co sulphides and one (1) Fe-Ti-V iron oxide occurrence discovered between 1997 to 2001 by previous operators who defined a 13 km long mineralized rock corridor. Drill intercept highlights include 1.27% Ni, 0.33% Cu, and 0.12% Co over 3.0 meters by Virginia Gold Mines in 2000 that contained massive sulfides.
To date, three (3) drill holes have been completed (813m done for total of 1,200m) which are targeting numerous priority airborne and ground EM conductors within the Houlière block:
The first hole drilled, DU24-01, intersected a wide, 28.6m, interval of disseminated mineralization from a hole depth 67.8m- 96.8m and within this are semi-massive stringers and massive sulphide zones ranging from widths of 15cm-60cm.
Within the first target area, one historical hole drilled in 2000, within this 1km long x 400m wide target zone, intersected 0.64% Ni, 0.29% Cu and 0.06% Co over 4m (~2.56m true width) which included 0.90% Ni and 0.40% Cu and 0.08% over 2.66m (1.71m true width and also included 1.55% Ni, 0.31% Cu and 0.14% Co over 1.0 m (0.64 m t.w.) from hole 1279-00-01 (from 21.00 to 25.00 m).
The stock has recently rejected resistance at the $0.06 zone. The stock is heading lower and could retest the support at $0.03. This is where buyers should be expected to jump in. If $0.03 breaks, then the stock is poised to retest all time record lows at $0.01.
