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 (MARV.V) announced that it has acquired 100% of additional ground (Pecors West) east of Elliot Lake to complement its East Bull Property. The additional land package of 805 hectares (ha) brings the land holdings in the area to a total of 6,157 ha.
The Pecors Channel located next door to the new land acquisition contains an inferred resource of 20,000,000 tons grading 0.037% (0.74 lbs./t) U3O8 or 14,800,000 lbs. U3O8.
This resource estimated is based on limited drilling and there is potential to expand the Pecors Channel onto the Pecors West property. Marvel has not yet done exploration work to verify or classify the historical estimates as a current mineral resource, and the Company is not treating the historical estimates as a current mineral reserve or resource.
The Pecors West property has the potential to host three unique styles of mineralization under the critical metals criteria:
- PGM-Ni-Cu magmatic style mineralization associated with the large Pecors regional magnetic anomaly.
- Uranium mineralization typical of the Elliot Lake uranium camp within the Pecors Channel.
- Uranium and rare-earth oxide (REO) mineralization similar to the contiguous Radio Fuels Eco Ridge Project.
“The Pecors West property is a dynamic piece of ground with significant potential for Ni-Cu-PGM mineralization and uranium and rare-earth oxide mineralization in two completely different geological settings”, Mr. Karim Rayani, Chief Executive Officer, commented. “The new land acquisition puts Marvel contiguous to the Eco Ridge Project with almost 60 Mt of uranium and rare-earth oxide resources. Drilling by Five Nine Ventures intersected shallow uranium mineralization along the Pecors Channel in 2012, and in 2015 PGM+Ni+Cu mineralization was intersected by International Montoro within the extensive Pecors magnetic anomaly, now held by Power One Resources (SpinCo from Mavel). This land acquisition gives Marvel a sizeable area of influence in the camp.”
The Pecors West property also hosts the potential for significant PGM- Ni-Cu mineralization related to the Pecors Magnetic anomaly, a large regional magnetic high extending 18 km long and 4 km wide and largely hidden beneath Huronian sediments.
The source of the magnetic anomaly has been confirmed to be at least partially comprised of lithologies of gabbroic affinity by International Montoro drilling in 2015. Hole P15-23 drilled by International Montoro intersected 0.33 g/t Pt+Pd+Au and 0.11% Cu and 0.04% Ni over 12m within contact style mafic intrusive mineralization. This style of mineralization appears similar to the East Bull PGM deposit to the east where Quest Critical Metals Inc., (formerly Canadian Palladium) reports a total indicated resources of 16.5 million tonnes at a grade of 0.93 g/t PdEq.
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