Marvel Discovery Corp said it has filed initial permits for the first phase of exploration on the company’s Hope Brook project in Newfoundland, which will include high resolution magnetic gradiometry surveys.
The company noted the Hope Brook project is strategically located contiguous to Sokoman-Benton joint venture, Falcon Gold and First Mining's ground, which is optioned to Big Ridge Exploration.
“Marvel and our sister company Falcon Gold have made a lot of noise as of late not only in acquiring sizable land positions tied on to major structures but also following the structures to find what we believe are hidden gems that have been overlooked and passed by Sokoman-Benton's new lithium discovery is less than 10 km (kilometres) away and is a testament to our business model,” Marvel Discovery CEO Karim Rayani said in a statement.
READ: Marvel acquires additional ground at Victoria Lake - contiguous to Marathon Gold
The company said it will be sending prospecting crews to the area to begin baseline prospecting to determine if the magnetic trends highlighted in regional government surveys are due to similar mineralized structures as those hosting the nearby Sokoman/Benton new lithium discovery.
It added that Sokoman/Benton announced recently the discovery of lithium-bearing pegmatites from a sampling program at their nearby Golden Hope project, the first significant occurrence of lithium documented in the province of Newfoundland and Labrador.
Hope Brook is a 19,075 hectare property hosted within the Exploits subzone of the central Newfoundland gold belt and straddles both the eastern and western extents of recent land acquisitions by the Sokoman/Benton joint venture partnership.
Marvel Discovery has some 10 projects currently and is looking for gold, nickel, copper, cobalt and vanadium in Ontario, Quebec, and Newfoundland, while also being on the hunt for rare earth elements (REE) and uranium in British Columbia.
Contact Sean at sean@proactiveinvestors.com