Marvel Discovery Corp (CVE:MARV) (OTCPINK:IMTFF) (FRA:O4T1) has acquired an additional 274 claims totaling 6,850 hectares (ha) within the highly prospective Gander Zone area.
The company said these new claims are located 10 kilometers (km) north of the recently announced Gander South claim group.
It added that this new acquisition now comprises 17,100 ha and is collectively termed the Gander South Project.
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Marvel said the Gander South Project now positions the company as a major landholder within the central Newfoundland gold belt. The new ground is contiguous to New Found Gold Corp's Queensway Project that lies along the highly prospective northeast trending Dog Bay-Appleton-Grub Line fault system.
The Queensway Gold Project is currently undergoing a 200,000-meters drill program by New Found Gold with recent drill results of 146.2 grams per ton (g/t) gold over 25.6 meters (m).
"Marvel is a rare opportunity that offers shareholders a broad exposure to gold, rare earths and battery metals,” said Marvel CEO Karim Rayani in a statement.
“We continue to increase shareholder value by acquiring quality assets in mining friendly jurisdictions. These claims add 6,850 hectares to our Gander South project increasing our holding to 17,100 hectares adjacent to New Found Gold."
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