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28/05/2024
Mining News

Marvel Discovery and Falcon Gold report lithium and rare earth element anomalies at Newfoundland JV project

Marvel Discovery Corp. and its partner Falcon Gold Corp have announced positive assay results from their late spring, early summer 2023 exploration program conducted at the Moose Mountain project which covers the eastern portion of their joint venture Golden Brook property in Newfoundland.

The companies said samples from the first pass reconnaissance program identified multiple anomalies from rock samples including copper, anomalous gold-arsenic, tungsten and molybdenite, and critical and rare element anomalies including antimony, beryllium, cerium, lanthanum, lithium, niobium, tantalum, vanadium, and zirconium.

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The aim of the program was to investigate the lithium potential of the property through the initial prospecting of several priority target areas identified in 2022 using geophysical, geological, and structural analyses carried out by Falcon.

A total of 149 rock samples were collected for testing, including float, chip, and grab samples from locations of interest.

“Our Moose Mountain project was initially staked for its gold potential, and our reconnaissance surveys did not disappoint with numerous gold-arsenic anomalies discovered,” commented Falcon Gold CEO Karim Rayani in a statement.

“The rare earth elements (REE) and lithium potential of this new area came as a total surprise as something which has us even more excited especially as the markets and government attitudes start to shift and recognizing the role of REEs, critical minerals, will have to play in the New Economy.”

The companies said that the newly identified anomalies are undergoing further review by Falcon to further understand their significance and to develop a follow-up exploration program.

 

Source: proactive

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