Overview
Project diversity has become one of the resource industry’s best strategies for minimizing risks and maximizing exposure to exceptional discoveries in mineral exploration projects. Companies with a diversified portfolio covering battery metals, gold, energy and rare earth elements demonstrate that mining players don’t always have to put all their eggs in one basket.
Diversification across world-class mining countries, like Canada, presents even more exceptional economic upside. Investors can gain exposure from Ontario’s prolific multi-million-ounce gold camps while leveraging the country’s hottest iron and copper mines in Newfoundland and Labrador. With the right company, operating a broad portfolio can mitigate risk without foregoing the opportunity for serious growth.
Marvel Discovery (TSXV:MARV) is a Canadian mineral exploration company focused on generating, acquiring and exploring diverse mineral opportunities across Canada. The company holds a robust project portfolio covering gold, uranium, rare earth elements (REE), lithium, nickel, platinum group elements (PGE) and battery metals.
The company’s projects host mineral richness across a wide spectrum of metals and leverage lengthy histories of mining and exploration in prolific jurisdictions, of which many are seeing an exciting revitalization.
Marvel Discovery’s outstanding gold project portfolio gives the company even more upside potential. Leveraging advantageous positioning in two of Canada’s hottest gold mining provinces, the company has identified and acquired multiple promising gold assets. They include the Blackfly project in Ontario, and the Slip, Gander, Golden Brook and Victoria Lake gold projects in Newfoundland and Labrador. Its gold portfolio poses exceptional exploration and high-grade gold mineralization opportunities.
Marvel Discovery’s Blackfly gold property is located in the historic Atikokan district in Ontario. Blackfly is strategically positioned in one of the province’s earliest gold camps and in proximity to Agnico Eagle’s Hammond Reef gold deposit, which has an estimated open-pit mineral reserve of 3.3 million ounces (Moz) of gold (123.5 million tons grading 0.84 g/t gold).
The Slip Gold project is 10 kilometers west of Newfound Gold’s (TSXV:NFG) Queensway project, the largest-ever consolidation of property within the Central Newfoundland gold belt. Drill results at Queensway demonstrate its potential to be a significant high-grade gold discovery. Historic work at Slip Gold indicates that both Queensway and Slip Gold are hosted in similar structural settings.
The Victoria Lake gold projects, Victoria Lake and Victoria Lake Southwest, in Newfoundland further contribute to the company’s gold portfolio. Historic work at Victoria Lake has indicated it is hosted within similar structural settings to Marathon Gold’s (TSX:MOZ) Valentine Lake gold deposit, which is only 18 kilometers away. Valentine Lake is poised to be the largest gold mine in Atlantic Canada. Preliminary grab samples from Victoria Lake ranged in value from 15.5 grams per ton (g/t) to 24.9 g/t gold and 18.6 g/t to 139.9 g/t silver.
Marvel Discovery’s Victoria Lake Southwest project is a 6,325-hectare land position contiguous to the Falcon Gold, Benton Resources and Buchans Minerals land package. Victoria Lake Southwest includes 253 new gold claims near existing prolific deposits, such as Matador Mining’s Cape Ray deposits, which host 837,000 ounces of gold. Additionally, it’s positioned 40 kilometers west of the Valentine gold deposit which hosts 6.8 Moz of gold.
The company Marvel has formed a strategic partnership with Falcon Gold to explore prospective claims acquired in the Hope Brook and Baie Verte Brompton Districts. The combined total of both projects covers 115,170 hectares and will be explored together on a 50-50 joint venture basis. This alliance further empowers Marvel and Falcon to work together sharing in the potential upside of this impressive land package while reducing costs and capital.
Marvel Discovery’s projects also include four rare earths, nickel and uranium projects that span across the entire country. This diverse spread of assets includes the Wicheeda North, Duhamel, East Bull and Highway North properties. The projects offer the company excellent exposure to Canada’s most prospective base and battery metal mining jurisdictions, including Ontario, British Columbia, Quebec and Saskatchewan.
At the Duhamel project, time-domain electromagnetic (TDEM) surveys that were completed identified high-priority targets, which prompted Marvel to send in a field crew for follow-up.
Future plans for the company include listing Power One, a spin-off company and previous subsidiary, to take ownership of its Serpent Rivers Pecors uranium project and the Wicheeda REE property.
In March 2022, Marvel acquired two large claim groups, the KLR and Walker, which provided the company with a highly advantageous position along the Key Lake fault adjoining both Cameco and Fission’s property boundaries. The two claim groups collectively cover 14,190 hectares along the east, north and northwestern directions.
Company Highlights
Marvel Discovery focuses on generating, acquiring and exploring opportunities in Canada. The company’s robust project portfolio includes 10 highly prospective properties covering lithium, uranium, gold, nickel, rare earth elements and titanium.The company’s portfolio provides substantial exposure and mineral diversity, covering the most prolific mining jurisdictions in the country, which include Ontario, Quebec, British Columbia, Saskatchewan, and Newfoundland and Labrador.Marvel Discovery holds six highly prospective gold properties, including the high-grade Blackfly gold property, which is near Agnico Eagles’ Hammond Reef deposit in Ontario, estimated to hold an open-pit mineral reserve of 3.3 million ounces of gold. The company is one of the largest landholders of claims in Central Newfoundland, which are tied to the deposits of New Found Gold and Marathon Gold. These projects position the company exceptionally well for significant gold discovery and development opportunities.Marvel Discovery boasts a robust management team with years of experience and a proven track record in corporate finance, project development and resource-based operations.Marvel Discovery is actively exploring the Highway North, KLR & Walker Claims properties that lie within the Wollaston-Mudjactic Transition Zone of the eastern Athabasca Basin. The properties adjoin both Cameco’s and Fission’s property boundaries.The company has a joint venture agreement with Carmanah Minerals to earn a 50-percent interest in the Walker Claims located in the Athabasca Basin, Saskatchewan. Marvel holds a considerable share position now in Carmanah and will be the operator.
Key Projects
Highway North, KLR & Walker Claims – Athabasca Basin
Marvel Discovery’s uranium property in Saskatchewan lies along the Key Lake fault adjoining both Cameco’s (TSX:CCO) and Fission’s (TSX:FCU) property boundaries. The company now owns a total of 17,612 hectares within the Wollaston-Mudjactic Transition Zone , following its acquisition of the KLR and Walker Claims covering 14,190 hectares along the east, north and northwestern directions.
Encouraging Historical Production: Highway North Claims contain two known mineralizations. The Key Lake deposit has previously produced 4.2 Mt of product with an average grade of 2.1 percent U3O8. Additionally, only 21 drill holes have been drilled between 1980 and 2008, which verify the presence of uranium but left much of the asset unexplored.Walker Claims Indicate Additional Uranium: Collectively known as the Walker Claims, this claim group covers 10,595 hectares and is contiguous to the Fission 3.0 Hobo Lake uranium assets. This claim group hosts 10 uranium showings and several unexplored EM targets.
Newfoundland and Labrador Gold Projects
Marvel Discovery has more than 115,000 hectares of gold assets throughout Newfoundland and Labrador. Its Golden Brook assets, which include Hope Brook and Baie Verte properties, are a joint venture partnership with Falcon Gold Corp. Its additional assets in the province are systematically being explored for high-grade gold deposits.
Slip Gold Project: The Slip Gold project has similar structural settings to New Found Gold’s Queensway project. It is host to gold mineralization within altered intrusive rocks and quartz veins historically sampling up to 44.5 g/t gold on surface.The Slip Gold project spans approximately 3,700 hectares and leverages strategic positioning within the Exploits Subzone, a hotspot for a potential district-scale gold camp.It is tied to Marathon Gold, which is Northern Atlantic’s largest gold deposit, hovering around 4.6 Moz.
Quebec Battery Metals – Duhamel Property
The Duhamel property is located 200 kilometers northwest of the city of Saguenay, Quebec, in the Saguenay-Lac-Saint-Jean region currently containing seven occurrences of nickel-copper-cobalt sulphides and one titanium-vanadium-chromium occurrence.
Promising Drill Results: Drill intercept highlights in the property include 1.27 percent nickel, 0.33 percent copper, and 0.12 percent cobalt over 3 meters by Virginia Gold Mines in 2000 that contained massive sulfides.Extended Holding Following TDEM Exploration: In 2022, Marvel received the heliborne magnetic and TDEM survey results over the Duhamel nickel-copper-cobalt and titanium-vanadium-chromium property, prompting the company to expand its land holding in the Saguenay-Lac-Saint-Jean Anorthosite Suite from 42 claims to 102 claims for a total of 5,300 hectares for staking costs.Follow-up Sampling Pending Results: The completed TDEM surveys highlighted high-priority targets, resulting in Marvel sending in a follow-up field crew. The crew used a portable XRF instrument to confirm ultramafic rocks containing nickel, cobalt and copper. Samples from the ground crew are presently awaiting lab analysis.
In 2022, the company applied for a drill program on the Duhamel nickel-copper-cobalt-platinum group property and a notice was sent to the Nitassinan de Mashteuiatsh First Nation for their review. Marvel Discovery received its first drill permit on Duhamel Ni-Cu-Co and Ti-V-Cr property. Following the interpretation of the TDEM and magnetic airborne survey, Marvel increased its land position in the Saguenay-Lac-Saint-Jean Anorthosite suite from 42 claims to 102 claims for a total of 5,300 hectares. The company intends to drill up to 15 holes totaling 2,000 meters targeting both the Houliere and Duhamel Zones.
Ontario Properties
Marvel Discovery’s Ontario properties include a variety of mineral deposits, including gold, nickel and PGEs. Many of the assets are in close proximity to existing known deposits and producing mines, indicating the potential of the company’s Ontario properties to become world-class mines.
East Bull Property: Marvel has100-percent interest in the East Bull Property in the East Bull Lake Intrusive Complex, contiguous to Grid Metals’ and Canadian Palladium’s East Bull Lake Palladium Projects east of Elliot Lake, Ontario.The claim group consists of 15 mining claims totaling 5,352 hectares. Total magnetic intensity of regional OGS surveys indicates a northwest extension to the EBLI onto Marvel’s ground.Drilling in the area by Grid Metals Corp returned intercepts of 77 meters grading 0.80 g/t palladium equivalent in April 2021, and Canadian Palladium’s project hosts a compliant resource of 11.10 Mt grading 1.50 g/t palladium equivalent.
British Columbia – Wicheeda North Project
The Wicheeda North is a rare earth element property that consists of six mineral claims, which encompass 2135.6 ha. in the Cariboo mining division in British Columbia. The property is immediately northwest of the Wicheeda Property, which hosts the Wicheeda Carbonatite, currently being explored by Defense Metals.
Assays Indicate Highly Prospective Property: Past exploration on the property includes airborne geophysical surveying from 2010, which successfully mapped Wicheeda’s magnetic and conductive geological properties across a 29.4-square-kilometer area. The property remains highly prospective for Marvel.
Management Team
Karim Rayani – CEO, President and Director
For the past 15 years, Karim Rayani has focused on financing domestic and international mineral exploration and development. Most recently, Rayani was head of Bloomberry Capital, a Vancouver-based merchant bank and capital advisory firm. Before this, he worked independently as a management consultant and financier. Rayani is currently chair of R7 Capital Ventures, director of Fiber Crowne Manufacturing and chair of District 1 Exploration. Rayani has developed an extensive network of contacts throughout North America and Europe, focusing on corporate development and finance.
Brian Crawford – Chief Financial Officer and Director
Brian Crawford holds a B.Com. from the University of Toronto and brings extensive experience as a senior financial executive. He has held positions in both public and private companies and has served as a partner in a national firm of chartered professional accountants. Brian is a founder and/or co-founder of several companies currently listed on the TSXV (TSX Venture Exchange) or the CSE (Canadian Securities Exchange). Presently, Brian serves as a director, corporate secretary, and/or CFO of multiple TSXV or CSE listed companies, which include Colibri Resource Corporation, Searchlight Resources, CBLT, and Tempus Capital.
Fraser Rieche – Director
Fraser Rieche has a bachelor of arts in economics and has 25 years of experience in international project management, logistics planning and corporate finance. Rieche has worked with resource-based industries and financial institutions worldwide. He has helped develop and finance mining projects in both North America and South America, along with energy, oil and gas, fisheries and forestry projects in many different areas of the world.
Diana Alvarez – Corporate Secretary, Director
Diana Alvarez is a paralegal with 15 years of experience working in corporate and securities law. Having worked for some of the leading law firms in Vancouver, she is well-versed in corporate compliance, governance and administration of publicly traded companies. Alvarez has spent her career focused on resource issuers and has a diploma in paralegal studies.
Dr. Peter Born – Director
Dr. Peter Born is a registered geologist with the Professional Geoscientists of Ontario and a fellow of the Geological Association of Canada. Born completed his Ph.D. at Carleton University in Earth Sciences and holds a Master of Science (M.Sc.), geological and earth sciences, from Laurentian University
His extensive experience spans 35 years in exploration, modelling, and feasibility studies. He has held many senior geologist positions which include Western Mining, where he modeled mineralization on the 5-Moz Meliadine gold deposit in Nunavut. He was with Echo Bay Mines, contributing to the 1-Moz Aquarius gold deposit east of Timmins, Ontario. Dr. Born brings decades of experience from the Abitibi greenstone and gold belt in Ontario and Quebec, and in particular, the 80-Moz gold camp of Timmins in Northern Ontario, Canada.