Marvel Gold begins drilling aimed at expanding Tabakorole 910,000-ounce resource

Marvel Gold Ltd (ASX:MVL) has begun a 44-hole, 6,300-metre reverse circulation (RC) resource expansion drilling program at its Tabakorole Gold Project in southern Mali. This program is designed to increase the existing 910,000-ounce gold resource by extending mineralisation along strike in both directions to the northwest and the southeast. There will also be a number of holes within the existing 2.9-kilometre strike length designed to infill existing sections where there is only one hole on the drill section or to further delineate the interpreted high-grade plunging shoots within the ore body. Results of the program are expected to be available in the first quarter of 2021. Upsized resource expansion drilling Tabakorole hosts a JORC-compliant mineral resource of 23.9 million tonnes at 1.2 g/t gold for 910,000 ounces, which remains open along strike in both directions and at depth. Managing director Phil Hoskins said: “Tabakorole is a resource growth story and we’re very excited to announce an upsized resource expansion drill program to kick-off the field season. “We recently announced a 54% increase in the JORC mineral resource to 910,000 ounces and we expect this program will continue that growth. “Regional soils and geophysics programs across the 375 square kilometres landholding are underway to deliver additional regional targets for follow-up drilling during 2021. “Marvel shareholders will benefit not only from any increase in the resource but also from an increase in our ownership, with this program resulting in the company’s project interest growing to 51%.” Location of planned drilling. Joint venture ownership The Tabakorole landholding is held under two separate joint ventures: A joint venture with Altus Strategies PLC (LON:ALS) and A joint venture with Oklo Resources Ltd (ASX:OKU). This drill program is being undertaken on the Altus JV tenement and the completion of the drilling program will see the company satisfy its stage-2 earn-in obligations and earn a 51% interest in Tabakorole. The company has agreed with Altus that the portion of this accelerated drill program in excess of the stage-2 requirement will be allocated to future earn-in requirements as the company moves towards an 80% interest. Tabakorole joint ventures. Regional exploration While the company is undertaking resource expansion drilling at Tabakorole, extensive multi-element soil geochemistry and geophysics programs have commenced across all exploration projects where little to no exploration has been previously conducted. It is anticipated that these baseline datasets, being collected under the supervision of the company’s exploration manager, will be completed by the end of quarter one 2021. The company is fully funded to follow-up the resulting drill targets. In addition, samples from the recently concluded 3,800-metre drill program at the Lakanfla Project have been despatched with assays expected this month.