May 4, 2022. Vancouver, B.C. – Marvel Discovery Corp. (TSX-V: MARV), (Frankfurt: O4T), (MARVF: OTCQB); (the “Company”) is pleased to report on the recent activities by our neighbor Defence Metals (DEFN.V) at their Wicheeda Carbonatite Deposit. The Wicheeda Deposit hosts 4.89 million tonnes (Mt) at 3.02% light rare earth oxide (LREO) and an inferred resource of 12.1 Mt at 2.90 LREO using a cut off 1.5% total metal (see “technical report on the Wicheeda, Property, British Columbia Canada” with an effective date June 27th, 2020). Management cautions that past results or discoveries on proximal properties (ie: the Wicheeda Carbonatite) may not be indicative of the presence of mineralization on the Company’s project.
Marvel and Defense Metals Wicheeda projects are located 80km northeast of the city of Prince George British Columbia. Marvel’s property of interest lies immediately northwest of Defense Metals ground and covers 2,135 hectares. Power-One, a Marvel portfolio company, (SPINCO) holds the surrounding claims for total of 4,274 hectares. (See figure 1 page 2) The property was acquired due to its oval aeromagnetic feature similar to the magnetic signature that hosts the Wicheeda Carbonatite.
On April 27, 2022, Defense released results for the final five diamond drill holes totalling 1,079 meters from the company’s 29-hole, 5,349-meter diamond drill program completed during fall 2021. Drill holes WI21-57 through WI21-61 were collared from the two sites within the eastern area of the Wicheeda rare earth element (REE) deposit.
Resource definition drill hole WI21-58 in conjunction with WI21-59 collared from the same setup yielded two of the three highest-grade-by-width intercepts of the 2021 drill campaign, with WI21-58 averaging 3.09% TREO (total rare earth oxides) over 251 meters, including 3.92% TREO over 80 meters; and WI21-59 returning 2.76% TREO over 212 meters, including 3.25% TREO over 90 meters from surface (DEFN:V press release April 27, 2022).
“The Rocky Mountain Rare Earth Metal Belt is quickly becoming recognized as a host to REE’s,” stated Karim Rayani President Chief Executive Officer, “Marvel and equity holding Power-One Resources (SPINCO) now control a sizeable area of influence in the camp of approx. 4,300 hectares. Recent drilling by Defense reports the longest high-grade intercept to date of 3.09 % total rare earth oxide over 250m -including 3.92% over 80m. Marvel is uniquely positioned, covering a similar looking magnetic signature as the Wicheeda Carbonatite Deposit. We are awaiting a final compilation of all datasets and interpretation of geophysical reports to mobilize field crews for this summer’s work program.”