Marvel Discovery (MARV.V) announced that they have completed a heliborne magnetic and TDEM survey over the Duhamel Property.
The combined heliborne survey, which was completed in May, 2021 by Prospectair Geosurveys, covered the entire 2,300 hectare land position, and consisted of 342 line km at 100 m spacings.
The Duhamel Property, located 200 km northwest of the city of Saguenay, Quebec, in the Saquenay-Lac-Sain-Jean region, consists of nine mineral claims located 14 km west of Arianne Phosphate’s Lac a Paul open-pit phosphate mine. The Lac a Paul site has discovered 590 million tonnes grading an average of 7.1% P2O5 at a 4.0% cut-off grade. The Duhamel Property is characterized by the presence of large mafic to ultramafic intrusive rock bodies (which result from the metamorphism of mantle rocks and some oceanic crust) located in the northern margin of the Saguenay‐Lac‐Saint‐Jean Anorthosite Suite.
Marvel has documented seven occurrences of nickel, copper and cobalt sulphides (Ni-Cu-Co sulphides) and one iron, titanium and vanadium (Fe-Ti-V) occurrence. These were discovered by Virginia Gold Mines, who previously explored the property, including a drill intercept highlight of 1.27% Ni, 0.33% Cu, and 0.12% Co over 3.0 meters.
By compiling historical data, Marvel found more than thirty Ni-Cu and four Fe-Ti mineral occurrences in the corridor. Marvel also found a historical data grab sample with assay results that showed 0.28% V2O5 associated with 20.8% TiO2 and 0.13% Cr2O3.
Once Marvel receives the final magnetic and TDEM information, they will integrate it with their existing data, which they will use to identify “targets of high merit” that they will continue to explore using prospecting, mapping, and sampling. The results of these further explorations will inform their decisions on where to target future diamond drilling campaigns.
“We are eagerly waiting for the results of the heliborne survey. The Duhamel Property is a fertile host for Ni-Cu-Co massive sulphides and iron Ti-V-Cr mineralization. Upon completing interpretation, we will follow-up with boots on the ground and select our best targets for diamond drilling,” commented Karim Rayani, President and CEO of Marvel.
In other news, Marvel announced that Gary Musil, the company’s chairman, has tendered his resignation and is stepping down from the board of directors for personal reasons. The board of Directors thanked Gary upon his departure.
“I would also like to personally thank Gary Musil for 20 plus years of valuable service, and contributions. We wish him well in his future endeavors,” added Rayani.
Following today’s news, Marvel Discovery shares are down 1 cent and are currently trading at $0.135.
Full disclosure: Marvel Discovery is an Equity Guru marketing client.
