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Marvel Discovery Corp. (TSX-V:MARV) and Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) jointly revealed assay results from their exploration program on the Gun Flap Hill project in southern Newfoundland.
The project, which covers the northwestern portion of the Golden Brook property, is approximately 160 kilometers southwest of Deer Lake.
A reconnaissance program conducted in late spring and early summer 2023 yielded promising results. Among the discoveries were multiple anomalies from rock samples, including copper-tantalum-vanadium, gold, nickel-chromium, and various critical and rare elements such as lithium, tantalum, cerium, lanthanum, and strontium.
Marvel and Falcon’s exploration efforts were geared toward assessing the gold potential of the area, and the results exceeded expectations. Anomalous gold values were found in three areas within the Cape Ray Fault deformation zone, signifying the presence of gold worth further exploration.
Key findings from the sampling include nickel and chromium anomalies of up to 410 parts per million (ppm) Nickel (Ni) and Chromium (Cr) up to 765 ppm.
An anomalous presence of copper (Cu), tantalum (Ta), and vanadium (V) was detected, with values of 280 ppm Cu, 19 ppm Niobium (Nb), 23 ppm Ta, and 1180 ppm V.
Another two sample stations indicated anomalous lithium (Li) concentrations, reaching up to 71 ppm Li.
The Gun Flap Hill property was originally staked to explore its gold potential due to its close proximity to the Cape Ray Fault zone, which hosts the nearby former Hope Brook Mine, according to Karim Rayani, the CEO of Marvel and Falcon.
“The anomalous gold values are significant in that they identify three areas of anomalous gold within the Cape Ray Fault deformation zone, and results greater than 5ppb [parts per billion] gold in the province are considered anomalous enough to require follow up work,” Rayani said.
Rayani told investors that reconnaissance surveys were conducted within an “extensive and largely unexplored area,” and finding new areas of nickel, chromium and REE mineralization in previously undocumented areas highlights the “highly prospective nature” of the land position.
“We feel the Hope Brook property holds tremendous potential for new exciting discoveries, and we are very excited to see a new critical element discovery for battery elements in the camp as we prioritize projects for our fall exploration campaign.”
www.ferroalloynet.com
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Friday, November 22, 2024
