Today’s results are specific to the Tabakorole permit which forms part of Marvel’s joint venture with UK-listed Altus Strategies PLC (AIM:ALS, TSX-V:ALTS). Marvel holds a 51% interest and with recently completed work programs is nearing a 70% interest.
Results confirm the strike continuity of previous shallow, high-grade intercepts in the 2021 drill campaign.
The best intercepts from today’s reported results include:
- 21 metres at 2.6 g/t gold from 70 metres and 7 metres at 1.0 g/t from 119 metres; and
- 9 metres at 1.3 g/t from 8 metres and 8 metres at 1.9 g/t from 80 metres.
“We are very excited by the continued shallow, higher-grade results being achieved at our central zone drilling,” managing director Phil Hoskins said.
“These new zones of higher-grade mineralisation sit outside of the previously modelled resource and should contribute significantly towards our upgraded resource due in September.”
Drilling was undertaken at Tabakorole’s central zone, where Marvel has identified multiple shallow intercepts outside the previously modelled resource.
Upgraded resource next month
Today’s results are expected to enhance the volume and grade of the resource in this area with an upgraded resource estimate due in September.
Marvel completed 5,400 metres of RC drilling and 900 metres of diamond drilling targeting resource growth in the early months of 2021.
More recently, Marvel completed 3,240 metres of diamond drilling to follow up earlier encouraging results in the central zone and improve the understanding of the north-west zone.
Drill results have been received for the final 997 metres of drilling in the central zone with the best new intercept being 21 metres at 2.6 g/t gold from 70 metres in hole 21TBKDD014.
Other strong intercepts from Marvel’s 2021 drill program into that zone have included:
- 22 metres at 1.8 g/t from 77 metres;
- 12 metres at 2.1 g/t from 18 metres and 18 metres at 1.9 g/t from 53 metres; and
- 13 metres at 2.0 g/t from 174 metres.
The recent drill results in the central zone vastly exceed the results underpinning the September 2020 mineral resource estimate.
More results to come
Marvel is now waiting on results from seven diamond drill holes for 1,115 metres in the north-west zone, where previous drilling encountered 16 metres at 2.0 g/t from 75 metres and 6 metres at 5.8 g/t from 61 metres.
Results are due in coming weeks and these will feed into the upgraded mineral resource estimate.