Marvel Discovery Corp announced it has completed a heliborne magnetic and time-domain electromagnetic (TDEM) survey over its Duhamel property.
The company also announced that Gary Musil has tendered his resignation as company chairman and is stepping down from the board of directors due to personal reasons.
The Duhamel property, located 350 kilometres (km) north of Quebec City, contains seven occurrences of nickel-copper-cobalt and one of titanium–vanadium-chromium, discovered between 1997 to 2001 by previous operators.
The Canadian emerging resource company said the combined heliborne survey was completed in May by Prospectair Geosurveys over the entire 2,300-hectare land position consisting of 342 line-km at 100 metre (m) spacings.
The Duhamel property is characterized by the presence of large mafic to ultramafic intrusive rock bodies located in the northern margin of the Saguenay-Lac-Saint-Jean Anorthosite Suite, one of the largest anorthosite intrusive bodies in the world. The Chute-des-Passes-Pipmuacan reservoir area contains numerous massive sulfide and iron oxide mineralization occurrences recognized and documented by the Quebec government.
After receiving the final magnetic and TDEM products, Marvel said it will initiate a full interpretation of the data integrating geology, structure, and mineralization. Targets of high merit will be ground-truthed through prospecting, mapping, and sampling.
“We are eagerly waiting for the results of the heliborne survey. Upon completing interpretation, we will follow-up with boots on the ground and select our best targets for diamond drilling,” president and CEO Karim Rayani said in a statement.
”Secondly, I would also like to personally thank Gary Musil for 20 plus years of valuable service, and contributions,” he added.
Marvel has some 10 projects currently and is looking for gold, nickel, copper, cobalt and vanadium in Ontario, Quebec, and Newfoundland, while also being on the hunt for rare earth elements (REE) and uranium in British Columbia.
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