Marvel Discovery (MARV.V) reported progress on the drilling taking place at their Blackfly Gold Project, finding visible gold.
Marvel has completed 9 diamond drills completed to date for 1,116.25m; the drilling has been concentrated around the historical shaft area of their project, with 4 holes drilled at the Blackfly Northeast Zone. The historical shaft was the first area of the property explored back in 1897, with grades around the shaft were anywhere from 80 to 167 g/t of gold. A year after exploration at the shaft started, it sunk, meaning the 19th century prospectors never finished mining it.
In this recent drilling, MARV’s hole BF19-21 found a quartz vein with galena and minor chalcopyrite and several specks of visible gold at 39.3m, and visible gold was found in the BF21-15 hole. The BF21-15 hole is part of drilling in the newly discovered Mosquito Zone, which can be found 100m southwest of the main Blackfly Zone. The visible gold at the Mosquito Zone was noted at only 8m of downhole depth.
The Blackfly Gold Project is located near Atikokan, ON, and consists of 64 unpatented mining claims totaling 1,296 hectares of land. The property is located along and within the Marmion Lake Fault Zone, ~13.6 km southwest along the strike of Agnico Eagle’s Hammond Reef Gold Deposit. So far, Marvel has submitted 456 samples – including QAQC insertions – to a lab for analyses, and channel and surface samples from the 2021 mapping and sampling are also on the way. The results for the 1,116.25m of drilling in the 9 diamond drill holes can be seen below.
“Visible gold is always a very good indicator in drill core when finding it in multiple holes. The geological team reports that holes completed to date all look visually encouraging with quartz-veining, mineralization, alteration and shearing. Our first hole into mineralization discovered during our 2021 sampling and mapping program also reported VG. To date we now have four sub-parallel gold mineralization trends that have been confirmed by drilling,” commented Karim Rayani, President and CEO of Marvel.
In other news, Marvel recently announced that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (DTC) in the United States. DTC eligibility gives securities an accelerated settlement period with reduced costs for U.S. investors and brokers enabling the company’s common shares to be traded through a much wider selection of firms through an electronic method of clearing securities. This can provide easier access for the trading of the stock to investors. Marvel shares can be found on the OTCQB under the ticker MARVF.
Following the news, Marvel shares are down half a cent and are currently trading at $0.20.
Full disclosure: Marvel Discovery is an Equity Guru marketing client.
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