Marvel Gold Ltd (ASX:MVL) (FRA:GR2) has consolidated its landholding at the Tabakorole Gold Project in southern Mali by acquiring new strategic tenements.
The company has executed binding tenement purchase agreements with three separate vendors covering six new permits.
Acquisition of Sirakoroble Sud licence is particularly important as it fills a gap in the previous landholding position and is along the northwest-trending structural corridor identified by magnetics and punctuated by a strong trend of geochemical anomalism.
Develop into standalone operation
Marvel Gold managing director Phil Hoskins said: “We are extremely pleased to have consolidated such a land position around the already significant Tabakorole deposit.
“Our strategy is to develop Tabakorole into a standalone mining operation by consolidating a significant landholding and undertaking systematic exploration to make additional gold discoveries will maximise our chances of achieving that strategy.”
Tabakarole is held through 100%-owned licences as well as two separate joint ventures - with Oklo Resources Ltd (ASX:OKU), in which the company holds an 80% interest, and with Altus Strategies PLC (LON:ALS), in which it has a 51% interest.
Next steps
After acquiring new licences, the company is collecting multi-element soil geochemistry datasets and will potentially follow up with ground magnetics - a survey technique that is working very well in this region to define the structures.
Targets will then be ranked and prioritised against the 40 discrete targets generated from regional datasets collected during 2020-21.
The company will also continue to consolidate its landholding around Tabakorole, with a focus on tenements within a 25 kilometres radius of the existing deposit and in the interpreted structural corridor.