Marvel Discovery Corp. (TSXV: MARV | O4T: GR | OTCQB: MARVF) has increased its land holding at the KLR-Walker Uranium Project through additional staking. Located on the east side of the Athabasca Basin, the new claims have increased the KLR-Walker Uranium Project area to 7,017ha.
In total, the company now controls over 17,612ha within the Wollaston-Mudjactic Transition Zone (WMTZ), which hosts the highest-grade uranium mines in the world. Marvel is also jointly exploring, on a 50-50 basis, the Walker Creek claims with Carmanah Minerals Corp. (CSE: CARM).
All properties straddle the Key Lake Fault Zone within the WMTZ, an important corridor for structurally controlled Athabasca Basin type uranium deposits.
“Uranium presents an intrinsic value proposition now more than ever as the world looks to cleaner energy sources. The heightened supply risk caused by geopolitical developments have helped the recent surge in uranium prices,” Karim Rayani, Chief Executive Officer, commented.
“Marvel’s expansion at KLR is nothing short of marvelous. The corridor along the Key Lake Shear Zone represents a tremendous opportunity in mimicking the success of basement-hosted uranium deposits found on the western side of the Athabasca Basin like NexGen Energy’s Arrow Deposit.”
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.
The new claims groups are contiguous to some of the largest uranium producing mines and successful exploration companies in the eastern Athabasca Basin including Cameco Corporation, Fission 3.0, and Skyharbour Resources.
For further information, please visit: www.marveldiscovery.ca
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