Marvel Discovery Corp announced that it has received assay results from reconnaissance till and soil sampling at its Victoria Lake Property in Newfoundland, in which multiple anomalies, including gold, barium, copper, zinc, and tin, have been identified.
The emerging resources company said surveys were conducted over two geological targets within the western part of the Victoria Lake Property, with sample stations identified on the basis of historic till sampling results, lithologic information, and a structural analysis completed by Marvel in 2022 that identified the potential for structures associated with the Cape Ray Fault within both survey areas.
"Our regional scale reconnaissance soil sampling program highlighted several areas which we regard as high priority target areas, and these have now been defined for detailed prospecting and soil sampling efforts as we commence our summer and fall exploration programs," Marvel Discovery CEO Karim Rayani said in a statement.
"To have discovered such a broad area of gold and base metal style mineralization in our inaugural exploration campaign holds tremendous promise for future success on this property and field crews will be dispatched promptly to perform follow-up investigations," he added.
Marvel Discovery noted that geochemistry showed that 21.7% of soil samples contained anomalous gold-in-soil, with the highest gold-in-soil analysis returning 87 parts per billion, while 16.7% of samples reported anomalous copper.
The company added that results from the Spring 2023 survey have identified an extensive zone of elevated gold within the vicinity of the historic gold-in-till anomaly and have further identified a second area of anomalous gold in the south survey area.
As well, Marvel Discovery stated that exploration at the Victoria Lake Property is being executed as part of a two-phase project, with the second phase of the program involving the completion of reconnaissance to explore the critical element potential in association with granite and pegmatites in the southern portion of the property.
Preliminary reconnaissance prospecting and till sampling over the prospective areas in the southern portion of the Victoria Lake Property are planned for the second phase of exploration, according to the company.
Marvel Discovery is a Canada-based emerging resources company. It is systematically exploring its extensive property positions in Newfoundland, Ontario, Quebec, and British Columbia.
Contact Sean at sean@proactiveinvestors.com