Marvel Discovery Corp. (TSXV: MARV | Frankfurt: O4T | OTCQB: MARVF) has announced a Phase II follow-up drilling programme at its KLR-Walker Uranium project in the Athabasca Basin.
The Phase II drill programme will consist of four holes totaling approximately 2,400m. The start date of the programme has yet to be determined. A total of 1,343m was completed through six diamond drill holes in the spring of 2023 which intersected 841ppm U3O8 over 1.07m at the project’s DD Zone and 553ppm U3O8 over 1.89m at the Highway Zone.
“The company is extremely excited about the 2023 Phase II programme. We have successfully followed up on historical surface and backpack uranium mineralization along key structures with Phase I,” Marvel CEO, Karim Rayani commented.
“Our Phase II programme is to test these structures and associated uranium mineralization at depth to unlock the potential presence of a Tier I uranium discovery.”
All uranium mineralization encountered in the Phase I drill programme consisted of stringer mineralization coincident with a regional scale fault, the Key Lake Shear Zone. The Key Lake Shear is part of the Wollaston-Mudjactic Transition Zone (WMTZ) of the eastern Athabasca Basin. The WMTZ hosts the highest-grade uranium mines in the world.
Drilling during the Phase II programme will target uranium mineralization down dip within the fault zones. Like its neighbor to the west, the Arrow Deposit, owned by NexGen Energy lies along a similar structural corridor as the Marvel properties.
The Arrow Deposit, which has undergone a positive feasibility study with robust economics contains Probable Reserves of 239.6Mlbs of U3O8 at an average of 2.37% U3O8 and measured and indicated resources of 256.7Mlbs at an average grade of 3.1% U3O8. The Arrow Deposit is the largest undeveloped uranium deposit in Canada.
For further information, please visit: www.marveldiscovery.ca
