Marvel Discovery acquires 10,250 hectares near Gander, Newfoundland

Marvel Discovery Corp (CVE:MARV) (OTCPINK:IMTFF) (FRA:O4T1) said it has acquired 420 claims for a total of 10,250 hectares, south of Gander, Newfoundland.

The package is located between the Exploits Subzone and the Gander Zone of Newfoundland. The area is also home to the northeast-trending Dog Bay-Appleton-Grub Line fault system where Newfound Gold Corp’s (CVE:NFG) Queensway Gold project is located.

Marvel Discovery’s claims are in close proximity to the Dog Bay-Appleton-Grub Line fault system, a crustal-scale fault zone that extends from the north coast of Newfoundland 200 kilometres (km) southwest through Gander.

READ: Marvel Discovery reveals grab samples of up to 24.3 g/t gold at its Blackfly Gold Project

According to Marvel the structural corridors in central Newfoundland are closely associated with recent gold discoveries, including Marathon Gold’s (TSE:MOZ) Valentine Gold Project which hosts 6 million ounces of gold.

“The Gander South property compliments the Victoria Lake and Slip Gold projects already under the Marvel umbrella in Central Newfoundland,” Karin Rayani, president and CEO of Marvel Discovery said in a statement.

“This adds 10,000 plus key hectares adjacent to Newfound Golds Queensway project. Marvel continues to add shareholder value by building an impressive portfolio of holdings – we look forward to commencing our field work programs in Newfoundland.”

Outside of Newfoundland, Marvel also has three properties in Ontario, two in Quebec and one in British Columbia focusing on a wide range of precious, base, energy and battery metals.

Contact Georgia at [email protected]

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Story by ProactiveInvestors