Marvel drills three holes intersecting visible gold at its Blackfly Gold project in Ontario

Marvel Discovery Corp (CVE:MARV) (FRA:O4T1) (OTCQB:MARVF) said it has drilled three holes that intersected visible gold at its Blackfly Gold project, near Atikokan, Ontario.  

The Vancouver-based emerging resource company said it had received 168 assay results for the third, of three rounds, from its 2021 prospecting and mapping program on the Blackfly Gold project.

Marvel said its geological team has conducted the initial prospecting, field mapping and sampling, and started trench sampling. A total of 303 samples were submitted for analyses at Actlabs in Thunder Bay. Surface samples taken in recent trenching are pending, added the company.

READ: Marvel Discovery finds more high-grade gold samples at its Blackfly Gold Project in Ontario

In a statement, Marvel CEO Karim Rayani said: “Marvel’s Blackfly Gold project is strongly living up to its potential. The surface samples reflect the wide variety of gold targets – some we knew of, and some are shaping up to be first-time discoveries.”

“The diamond drilling is now well underway and visually the core is looking very promising,” he added.

The company highlighted the following results from the third round of its 2021 surface sample:

• At least 29 samples returned assays greater than 500 parts per billion (ppb) gold
• Twelve samples graded from 1 gram per tonne (g/t) and up to 2.99 g/t gold
• Nine samples reported in excess of 3 g/t gold
• Three samples assayed greater than 30 g/t gold

The Blackfly Gold property is located in the developing Atikokan gold mining camp along and within the Marmion Lake Fault Zone, around 13.6 kilometers (km) southwest of Agnico Eagle’s Hammond Reef Gold Deposit.

Assessment file records indicate that the original Blackfly gold discovery was made in 1897, making the occurrence one of the earliest found in the Atikokan gold mining camp. The project’s 45-foot shaft was sunk in 1898 shortly after gold was discovered. Several companies have added to the database of the property.

Gold mineralization on the Blackfly Gold project is occurring in several hosts and with varied mineralized styles, ranging from traditional gold in quartz veins to gold occurring in highly altered host rocks.

“Mineralization is developed within altered northeast-trending, steeply dipping structures that obliquely cut the regional foliation,” said the company.

Marvel noted that the first three drill holes are now complete and core logging is underway. The field team believes that gold zones were reached in each hole with visible gold found in a vein intersected at a depth of 8 meters in drill hole BF21-15.

The company said that trenching is now being done for further definition of the gold mineralization associated with the known anomalies and geological structures.

“Diamond drilling is underway with 16 drill holes planned for the summer field season,” added Marvel.

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive

Story by ProactiveInvestors