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Marvel Discovery (TSXV:MARV) is ramping up exploration work at its gold projects in Newfoundland, Canada, as the company prepares to commence drilling once permits are received.
“We anticipate those permits coming in the next four to six weeks,” said Karim Rayani, president and CEO of Marvel Discovery Corp. “And we just completed a raise of $2 million. So we’re cashed up and we’re ready to start doing exploration drilling in Newfoundland.”
Marvel is an acquisition, exploration and development mining company focused on a diverse portfolio of mineral assets across Canada. It has more than 115,000 hectares in prospective gold assets in Newfoundland alone, that are in various stages of exploration.
“If you really look at the geology of Newfoundland, there are so many discoveries that are starting to sprout up there. Marvel was very quick to recognize what was happening. We’re currently probably the (third) or fourth largest landholder of ground in Newfoundland tied on to sizable deposits,” Rayani said.
Marvel holds more than 100,000 hectares of land just in the Golden Brook project alone. The project is a joint venture between Marvel and Falcon Gold Corp. “We’ve got a million ounces to our north, a million ounces to our south, and we have this major fault that goes right through. So we’re currently mobilizing crews there now; permitting on that one is going to take a little longer before we’re ready to drill,” Rayan said.
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.