Marvel Discovery Corp. (TSX-V:MARV) said it has completed its first diamond drilling program at the DD and Highway Zone in the KLR-Walker Uranium Project located in the Athabasca Basin of Canada.
The program included six diamond drill holes, four of which were completed at the DD Zone and two at the Highway Zone, totaling 1,343 meters. Anomalous radiation was intersected in every hole, with a total of 303 samples sent for assay.
Karim Rayani, the president and CEO of Marvel, expressed his satisfaction with the results, commenting: "Anomalous CPS values were encountered in every hole with impressive downhole peak probe values. We look forward to receiving assays along this favourable structurally related uranium trend, a key ingredient to the large uranium deposits of the Athabasca Basin."
The KLR-Walker Property is situated in the Wollaston-Mudjactic Transition Zone, which is home to some of the highest-grade uranium mines in the world. The DD Zone is located along the Key Lake Shear Zone and contains ten uranium showings and multiple unexplored EM targets.
The Arrow Deposit, which is located west of the KLR-Walker Property and owned by NexGen Energy, has undergone a Positive Feasibility Study and is the largest undeveloped uranium deposit in Canada, with probable reserves of 239.6 million pounds of U3O8 at an average of 2.37% U3O8 and measured and indicated resources of 256.7 million pounds at an average grade of 3.1% U3O8.
Marvel's exploration and drilling program are significant steps in the company's effort to unlock the potential of the KLR-Walker Property and capitalize on the growing demand for uranium, which is expected to rise as the world transitions to cleaner energy sources.
Contact the author at jon.hopkins@proactiveinvestors.com