Marvel Increases Land Holdings at KLR-Walker Uranium Project, Tied to Cameco & Fission - Athabasca Basin

VANCOUVER, BC / ACCESSWIRE / October 4, 2023 / Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce it has acquired through staking an additional 3,422 hectares of prospective claims at the KLR-Walker Uranium Project, located on the east side of the Athabasca Basin. With the new claims, the area of the KLR-Walker Uranium Project has risen to 7,017 hectares (Figure 1). In total, the Company now controls over 17,612 hectares within the Wollaston-Mudjactic Transition Zone ("WMTZ"), which hosts the highest-grade uranium mines in the world (Figure 2). Marvel is also jointly exploring, on a 50-50 basis, the Walker Creek claims with Carmanah Minerals Corp. (CSE:CARM).

Mr. Karim Rayani, Chief Executive Officer, commented, "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. 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. Our newly expanded ground is perfectly situated tied to Skyharbour's Key Lake projects as well as Cameco and Fission's ground. We look forward to reporting back in the coming weeks on our next phase of exploration drilling at KLR."

Foto: Accesswire

Figure 1. Highway North, Walker, KLR and new claim groups along the Key Lake Fault with prominent VTEM conductor trends.

All Properties straddle the Key Lake Fault Zone within the WMTZ, an important corridor for structurally controlled Athabasca Basin type uranium deposits (Figure 2). 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 239.6 million lbs. of U₃O₈ at an average of 2.37% U₃O₈ and Measured and Indicated Resources of 256.7 million lbs. at an average grade of 3.1% U₃O₈. The Arrow Deposit is the largest undeveloped uranium deposit in Canada.