Join our daily newsletter At The Bell to receive exclusive market insights
- Marvel Gold (MVL) has begun drilling at its Lakanfla Gold Project in western Mali, Africa
- Approximately 3800 metres of reverse circulation (RC) and diamond drilling will be undertaken with aims to identify potential mineralised areas
- Subject to results, Marvel will complete follow-up drilling to hone in on potentially economic concentrations of gold mineralisation
- The company will also undertake seismic surveys over the gravity lows to identify density differences between various areas
- Data from this will then be used with the drill results to help identify targets for follow-up drilling
- Marvel is up a healthy 16.4 per cent on the market and shares are trading for 6.4 cents each
Marvel Gold (MVL) has begun drilling at its Lakanfla Gold Project in western Mali, Africa.
Lakanfla hosts multiple active and historic gold workings which coincide with major geochemical and gravity anomalies.
Historical work has returned encouraging results such as 26 metres at 5.1g/t gold from 32 metres, and 18 metres at 4.31g/t gold from 34 metres.
Approximately 3800 metres of reverse circulation (RC) and diamond drilling will be undertaken with aims to identify potential mineralised areas.
First results are expected at the tail end of November and into December.
Subject to results, Marvel will complete follow-up drilling to hone in on potentially economic concentrations of gold mineralisation.
“We have designed this program to confirm that dissolution processes have taken place and to maximise the chances of intersecting mineralisation around the seven-kilometre strike of the gravity lows surrounding the granite intrusion,” Executive Director Chris van Wijk said.
Marvel will also be undertaking passive seismic surveys over the gravity lows to identify density differences between various areas.
Data from this will then be used with the drill results to help identify targets for follow-up drilling.
Marvel is up a healthy 16.4 per cent and shares are trading for 6.4 cents each at 2:46 pm AEDT.
