Marvel Discovery Corp. (TSX-V:MARV) said it has applied for the necessary permits to complete its inaugural diamond drilling program at the DD Zone within the KLR-Walker Uranium Project in the Athabasca Basin in Saskatchewan.
The company said the drill program will consist of 10 holes totaling 1,000 metres and that it will report back on an estimated start date once all necessary permits are received.
"We have made great progress in a short period of time planning our inaugural drill campaign on the KLR-Walker Uranium Project. The DD Zone represents a target area of the high merit and potential for success,” Karim Rayani, Marvel president and CEO said in a statement.
READ: Marvel Discovery says it will focus exploration efforts on prospective DD Zone at its Walker and KLR uranium project in Saskatchewan
“After careful study, compilation, and interpretation, we have planned 10 drill holes to test favorable structurally related uranium, a key ingredient to the large uranium deposits of the Athabasca Basin. We look forward to organizing drill crews once the necessary drill permits are received," he added.
The objectives of the drill program will be to drill across structures at the DD Zone that have been featured by the recently completed airborne magnetic survey while utilizing previous backpack drill results to aid in vectoring drill hole targets. Structure hosting the DD Zone will also be investigated south towards the Highway Zone.
The DD Zone remains an area of high merit based on:
- Drilling during the 1970s intersected uranium values of 0.125%;
- Backpack drilling by EFU in 2015 discovered the Highway Zone, intersecting 1.96% uranium over 29 cm. Other highlights include 1.57% uranium over 4 cm, 0.279% uranium over 44 cm, 0.20% uranium over 60 cm, 0.175% uranium over 41 cm, and 0.124% uranium over 24 cm;
- The Highway Zone Discovery appears structurally related and an extension of the DD Zone; and
- A distinct correlation with high uranium values and strong magnetic gradients.
The property is located within the Wollaston-Mudjactic Transition Zone (WMTZ) of the eastern Athabasca Basin, which hosts the highest-grade uranium mines in the world. The DD Zone further straddles the Key Lake Shear Zone, an important fault for structurally controlled Athabasca Basin-type uranium deposits.
Additionally, the DD Zone is proximal and along strike to Fission 3.0 Hobo Lake uranium properties, and hosts 10 uranium showings and multiple unexplored electromagnetic (EM) targets.
Based in Canada, Marvel is engaged in the acquisition, exploration, and development of diverse metal deposits throughout the country.
Contact the author at jon.hopkins@proactiveinvestors.com