Marvel Discovery and Falcon Gold announced that field crews have been mobilized to their joint venture lithium prospect Hope Brook in Newfoundland, Canada, with initial reconnaissance returning evidence for lithium pegmatites at the property.
The property is located adjacent to Benton-Sokoman’s Golden Hope project, which covers the Kraken lithium-bearing pegmatite field.
The companies said that field crews have been focused on completing a preliminary reconnaissance over prospective areas at Hope Brook as defined by geophysics and regional geology maps where pegmatites from the Kraken zone may potentially extend into the adjacent area held by Falcon.
Evidence of pegmatites at Hope Brook has been reported by prospectors within the first couple of days, the two companies reported.
Rock samples collected from several pegmatites have identified wolframite, and molybdenite, important minerals for tungsten and molybdenum, and the prospectors also noted signs of albitization believed to be very similar to that of the Kraken zone.
“With the recent discovery of the Kraken zone by Sokoman, and for our prospectors to have discovered an extensive pegmatite field precisely where our desktop studies had predicted is a testament to our methodology for selecting and acquiring project areas,” said Marvel Discovery CEO Karim Rayani in a statement.
“We must caution that we will need assays to confirm the presence of spodumene but based on these prospecting efforts our pegmatite expert has been mobilized to the site and will now be supervising an enhanced program of detailed field mapping and prospecting.
“Marvel Discovery is well funded, and if further analysis confirms these pegmatites are indeed spodumene rich, we will be immediately moving forward to an inaugural drill campaign.”
Marvel Discovery and Falcon Gold formed a strategic partnership in 2021 that combined the Hope Brook and Baie Verte Brompton District to be explored on a 50-50 joint venture basis.
Marvel Discovery is a Canada-based emerging resource company.
Falcon Gold is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas.
Contact the author at emily.jarvie@proactiveinvestors.com
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