Marvel Discovery Corp said it is planning to kick off its first diamond drilling program at the DD and Highway Zone on the KLR-Walker uranium project after receiving the necessary permits.
Drilling at KLR-Walker – which is located in Saskatchewan’s Athabasca basin – will consist of 10 holes totaling 1,000 metres (m), according to a statement from Marvel.
The firm laid out its objectives, which include drilling across structures at the DD Zone that have been featured by the recently completed airborne magnetic survey while utilizing previous backpack drill results to aid in vectoring drill hole targets.
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Marvel said it feels that the the DD Zone remains “an area of high merit” based on a number of factors, including drilling during the 1970's that intersected uranium (U) values of 0.125%
Further, backpack drilling by EFU in 2015 discovered the Highway Zone, intersecting 1.96% U over 29 centimetres (cm). Other highlights include 1.57% U over 4 cm; 0.279% U over 44cm; 0.20% U over 60cm; 0.175% U over 41cm, and 0.124% U over 24cm.
The Highway Zone Discovery appears structurally related and an extension of the DD Zone, Marvel added, with a “distinct” correlation with high U values and strong magnetic gradients.
Karim Rayani, Marvel’s CEO, told shareholders that the company is “thrilled” to move towards the inaugural drill phase at the project.
“The DD and Highway Zones represent tremendous opportunity, after careful study, compilation, and interpretation, we have outlined 10 drill holes to test favorable structurally related uranium, a key ingredient in large uranium deposits of the basin.”
In other news, Marvel said it had appointed Brian Crawford as its new chief financial officer effective immediately.
Crawford is a Chartered Professional Accountant and has extensive experience as a senior financial executive.
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