Marvel Discovery Corp revealed that it has completed a structural interpretation of the high-resolution magnetic survey at its Gander East project, in Central Newfoundland.
The Vancouver, British Columbia-based resource company said that several prominent shear and deformation zones have been identified that require follow-up prospecting, mapping, and soil sampling. Results of the boots on the ground campaign together with the favourable structural features will aid Marvel in targeting those areas of high merit for its inaugural Phase I drilling program.
The Gander East project consists of 274 claims totaling 6,850 hectares, which have been strategically positioned adjacent to New Found Gold's (NFG) Queensway project and along strike from both Exploits Discovery Middle Ridge project and Sassy Resources (CSE:SASY, OTCQB:SSYRF)’ Gander North project.
The company pointed out that the Queensway project is undergoing a 400,000-meter drill campaign targeting 20 kilometers (km) of prospective strike along the regional scale Appleton and Dog Bay fault zones. NFG's most recently reported 9.12 grams per ton (g/t) gold (Au) over 8.2 meters (m) and 42.6 g/t Au over 11.75m beginning at only 8.8m downhole.
Significantly, parallel structures to those hosting gold in the Queensway and Middle Ridge project areas intersect the Gander East project including a segment of the Gander River Ultrabasic Line (GRUB Line) that defines the easternmost bounding structure of the regionally prospective Exploits Subzone, said Marvel.
Furthermore, the Gander East project lies along strike to the south of a new regional gold trend defined by Sassy Resources (CSE:SASY, OTCQB:SSYRF) as a part of their Gander North project. The structure is integral to the numerous gold occurrences and drill intersections within the Exploits Subzone.
Marvel said that magnetic products from the high-resolution survey defined and enhanced the various rock types and structural features consistent with orogenic gold occurrences and deposits of the Exploits Subzone.
As a result of the study of the magnetic products from the high-resolution survey, a major sigmoidal shear is interpreted through the central part of the property, said the company. Six areas of high merit will be targeted for follow-up prospecting, mapping, and soil sampling.
Marvel said that these areas are deemed to have “a high rate of success for orogenic gold mineralization” based on known mineralization and alteration styles adjacent to the property, folded and sheared sediment rocks, predominant shear zones, and numerous minor faults.
"The Gander East project is a strategic land position for Marvel within the Central Newfoundland gold belt. The effectiveness of the high-resolution magnetic survey defines structural features that we know have been integral to the success of New Found Golds Queensway project and the high-grade Keats Zone,” said Marvel CEO Karim Rayani.
“Our robust magnetic dataset clearly enhances our structural and lithological understanding of the property and vectors our next exploration phase to those areas of high merit for gold mineralization. Once the results of this next phase are received, Marvel will initiate an inaugural drill campaign,” he added.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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