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Marvel Discovery Corp CEO Karim Rayani has said he believes the Rocky Mountain rare earth metal belt – in which the company’s British Columbia rare earth element (REE) project is located – holds huge potential, noting that reports last month from neighboring Defence Metals lend credence to this.
In April, Defence reported results from five drill holes at its Wicheeda deposit, which included two of the three highest-grade-by-width intercepts of the 2021 drill campaign, according to a press release at the time.
Drill hole WI21-58 averaged 3.09% total rare earth oxides (TREO) over 251 meters, including 3.92% TREO over 80 meters. Hole WI21-59 returned 2.76% TREO over 212 meters, including 3.25% TREO over 90 meters from the surface.
READ: Marvel Discovery raises over $400,000 for exploration at its Canadian mineral properties
Marvel’s project borders Defence’s to the northwest and covers 2,135 hectares, the company said. Power One, a Marvel portfolio company, holds the surrounding claims, bringing the total to 4,274 hectares. Both are located about 80 kilometers from Prince George, British Columbia. That makes Defence’s report very compelling, to hear the Marvel CEO tell it.
“The Rocky Mountain Rare Earth Metal Belt is quickly becoming recognized as a host to REE’s,” Rayani said in a statement. “… 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.”
Once the company has completed a geophysical interpretation and review of all government datasets covering the entire property position and the surrounding area, the plan is to mobilize field crews to follow-up on all priority targets planned to start this summer, the company said.
Based in Canada, Marvel is engaged in the acquisition, exploration, and development of diverse metal deposits throughout the country.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel
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