Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T)(OTCQB:MARVF); (“Marvel” or the “Firm”) is happy to announce that the Firm has entered into an settlement to accumulate the Costigan Lake Uranium venture, which covers 5,518ha situated on the jap facet of the Athabasca Basin. The acquisition enhances Marvel’s land portfolio of uranium holdings at Key Lake, which is adjoining to Cameco, F3 Uranium, Skyharbour, and Abasca Sources. This acquisition will increase the Firm’s footprint to 4 distinct initiatives overlaying over 23,130ha and is in step with Marvel’s aggressive method to venture technology and exploration. The corporate is using the identical modern strategies which have led to a number of the largest discoveries within the Athabasca Basin together with radon surveys, floor geophysics, underwater spectrometer evaluation, and airborne radiometric surveys.
Costigan Lake Highlights
- Strategically situated 25km southwest of Cameco’s Key Lake Mine and mill complicated and is completely located alongside the Wollaston-Mudjactic Transition Zone (“WMTZ”), which hosts the highest-grade uranium mines on this planet.
- Infrastructure: proximal to or inside 8kms to the Freeway 914 – a major year-round maintained street servicing the operational Key Lake Mill.
- Potential Geological Setting: inside the “WMTZ” Zone – the identical basement rocks that host all the main uranium deposits on the east facet of the Athabasca Basin.
- On pattern with a number of the world’s largest Uranium Mines: Key Lake, Cigar Lake and McArthur River.
- Adjoins F3 Uranium’s (TSXV:FUU) Hobo Challenge who simply introduced a $15 million funding from Denison Mines (see press launch dated Oct 6, 2023).
- Adjoins Abasca Sources (TSXV:ABA) Key Lake South Challenge, who simply accomplished a 4,959 m drill program with 9 of the 11 holes intersecting anomalous uranium (see press launch dated Could 24, 2023)
- A number of high-merit exploration targets: over 16 km of subsurface conductors mendacity inside a magnetic low inside the “WMTZ”.
- Further targets embrace anomalous radioactive boulder trains, first found in 1978 by Rainbow Oil Restricted.
- The Property has restricted systematic modern-day exploration, which presents blue sky potential.
Mr. Karim Rayani, Chief Government Officer, commented, “Marvel has accomplished an nearly inconceivable job of buying key floor within the prolific Key Lake Hall. The addition of the Costigan Lake Property is inside the WMTZ and the Key Lake Shear Zone, which represents great alternative. We’re lively within the richest uranium belt within the Basin and on pattern with world class discoveries. Marvel’s method is nothing in need of Marvelous: going after multi commodity- giant scale initiatives that mimic the success of basement-hosted uranium deposits discovered on the western facet of the Athabasca Basin, corresponding to NexGen Vitality’s Arrow Deposit. We sit up for a really busy winter season of exploration within the Basin.”
The Transaction
As consideration, the Firm has agreed to pay the seller a complete of $1,000,000 and full $2,000,000 in exploration expenditures over a 5-year interval. As well as, the Optionee will retain a 1.0% internet smelter royalty, which Marvel should purchase for $1,500,000.
Certified Individual
The technical content material of this information launch has been reviewed and authorized by Mike Kilbourne, P.Geo., who’s a Certified Individual as outlined by Nationwide Instrument 43-101, Requirements of Disclosure for Mineral Initiatives. The QP has not accomplished ample work to confirm the historic info on the extra acquired floor notably concerning historic exploration, neighbouring firms, and authorities geological work.
About Marvel Discovery Corp.
Marvel, listed on the TSX Enterprise Alternate for over 25 years, is a Canadian based mostly rising useful resource firm. The Firm is systematically exploring its intensive property positions in:
- Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte, and Hope Brook – Au Prospects)
- Atikokan, Ontario (BlackFly – Au Prospect)
- Elliot Lake, Ontario (East Bull – Ni-Cu-PGE Prospect)
- Quebec (Duhamel –Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium Prospect)
- Prince George, British Columbia (Wicheeda North – Uncommon Earth Components Prospect)
The Firm’s web site is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARD
Marvel Discovery Corp.
“Karim Rayani”
Karim Rayani
President/Chief Government Officer, Director
Tel: 604 716-1036 electronic mail: k@r7.capital
Disclaimer for Ahead-Wanting Info:
Sure statements on this launch are forward-looking statements which replicate the expectations of administration. Ahead-looking statements include statements that aren’t purely historic, together with any statements concerning beliefs, plans, expectations, or intentions concerning the longer term. Ahead-looking statements on this press launch relate to, amongst different issues: completion of the proposed Association. Precise future outcomes could differ materially. There may be no assurance that such statements will show to be correct, and precise outcomes and future occasions might differ materially from these anticipated in such statements. There is no such thing as a assurance any of the circumstances for closing will probably be met. Ahead-looking statements replicate the beliefs, opinions, and projections on the date the statements are made and are based mostly upon a lot of assumptions and estimates that, whereas thought of affordable by the respective events, are inherently topic to vital enterprise, financial, aggressive, political and social uncertainties and contingencies. Readers shouldn’t place undue reliance on the forward-looking statements and knowledge contained on this information launch regarding these occasions. Besides as required by regulation, the Firm doesn’t assume any obligation to replace the forward-looking statements of beliefs, opinions, projections, or different components, ought to they alter, besides as required by regulation.
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