- Multiple assets in favorable mining jurisdictions
- Currently has eight projects in Canada
- Experienced management team
What Marvel Discovery does:
Marvel Discovery Corp. (TSXV:MARV) (FRA:O4T1) (OTCPINK:IMTFF) – which in February 2020 changed its name from International Montoro Resources Inc – has been listed on the TSX Venture Exchange for more than 25 years and is also listed in Frankfurt.
It has 10 projects currently and is looking for gold, nickel, copper, cobalt and vanadium in Ontario, Quebec, and Newfoundland, while also being on the hunt for rare earth elements (REE) and uranium in British Columbia.
The group’s goals are to identify targets via airborne surveys and sampling, initiate targeted drilling and develop projects through to compliant resource status.
It has 2,250 hectares via its Camping Lake gold prospect claims in the famous and active Red Lake mining district of Ontario, where it is earning a 51% interest in five claims. It has also acquired 2,138 hectares at the Wicheeda North rare earth claims in the Rocky Mountain rare metal belt of British Columbia.
A simple breakdown of its current portfolio looks like this:
- The Camping Lake gold prospect in Red Lake, Ontario
- The Serpent River/Pecors, a nickel-copper-platinum group elements discovery and uranium-rare earth elements in Elliot Lake, Ontario
- The Duhamel nickel-copper-cobalt prospect, and titanium, vanadium and chromium prospect in Quebec
- The Wicheeda rare earth elements prospect and Cup Lake/Donen Uranium deposit in British Columbia
- The Slip and Victoria Lake gold prospects in Newfoundland
- The BlackFly gold prospect in the town of Atikokan, Ontario
- The Uranium City project on the north shore of Lake Athabasca, Saskatchewan
- The Ungava nickel project in Quebec which is close to Falcobridge’s Delta-Oasis property
How is it doing:
2021 looks to be transformational for the company in more ways than one. On February 22 of this year, the company’s name-change to Marvel Discovery Corp.was approved by the TSX Venture Exchange. The company began trading under its new name and new trading symbol (MARV) on February 24. The name-change was done without any share consolidation.
It’s been a series of positive news on the exploration front as well. In July, the company uncovered more high-grade gold samples at its Blackfly Gold Project in Ontario. According to Marvel, a sample that returned 52.5 g/t gold was found in a potential new gold zone southeast of the shaft area, which is expected to become a new drill target.
Those results followed earlier assays that revealed up to 24.3 g/t gold at Blackfly. Initial sample results from the project included 15 samples grading higher than 3 g/t – four of which revealed more than 10 g/t gold.
But it is not all exploration that has been keeping Marvel busy these past few months. The company has acquired a significant amount of prospective ground in Newfoundland, particularly near the prolific past producing gold mine Hope Brook. In June, the company acquired 763 claims for a total of 19,075 hectares which are strategically located and contiguous to First Mining Gold (TSE:FF) and to the Sokoman Minerals (CVE:SIC) and Benton Resources (CVE:BEX) joint venture.
The group also acquired another 274 claims totaling 6,850 hectares (ha) within the highly prospective Gander Zone area, and 420 claims for a total of 10,250 hectares in the same region.
Palladium also caught the eye of Marvel’s C-suite. In May, it added 15 mining claims totaling just over 5,300 hectares known as the East Bull Lake Intrusive Complex, located near Elliot Lake, Ontario.
East Bull Lake is part of the palladium-rich mafic intrusive East Bull Suite, which is home to the New Age Metals River Valley deposit that hosts measured and indicated resources of 99 million tons of 0.9 grams per ton (g/t) palladium equivalent and an additional inferred resource of 53 million tons grading 0.6 g/t palladium equivalent.
And finally, the firm’s spinout of its Serpent River/Pecors and Wicheeda North properties is proceeding as expected.
- Assay results from 204 samples and commencement of a 16-hole drill program at Blackfly
- Completion of spinout of its Serpent River/Pecors and Wicheeda North properties
- News from Victoria Lake project in Newfoundland
What the boss says:
Commenting on the acquisition of additional claims in Newfoundland, CEO Karim Rayani told investors that the purchase “positions Marvel in three of the key exploration and development areas within the Island, comprising Victoria Lake, Gander Zone and Hope Brook areas.”
Rayani added: “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.”
Contact Angela at [email protected]
Follow her on Twitter @AHarmantas
Story by ProactiveInvestors
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