Marvel Gold (ASX:MVL) has identified a high-priority target zone onsite its southern Mali acreage comprising its Yanfolila Gold Project on the back of fresh soil geochemistry results.
The target is immediately northwest of known mineralisation at the Solona Main Zone target within the boundaries of Marvel Gold's Yanfolila project held in a JV with Oklo Resources Limited (ASX:OKU).
Marvel Gold holds the lion's share of interest at 80%.
The geochemical data comes from an interpretation of samples collected in 2021 wherein the company amassed some 2,160 samples in a maiden exploration exercise.
The newly identified target is prospective for gold and the company believes the data provides evidence of several large targets exhibiting gold and multi-element anomalies.
Historical drilling at Solona has previously intersected 9m @ 20.1 grams of gold per tonne from 43m, and 16m @ 2.1g/t from surface.
Marvel Gold believes there is potentially 1.5 million ounces of gold across all of its Mali acreage.
Marvel Gold is to launch a new auger drilling program to better extrapolate on the promising geochem results, which the company anticipates to provide a low-cost and meaningful approach to defining the dimensions of deposits onsite.
The program is underway with completion expected by the start of July.
Marvel Gold shares are currently worth 4.2cps, trading at a significant discount to the share price in early January, when the price reflected 6.2cps.
Investors should note there are no immediately obvious indications the decline in price is separate from a larger index-wide selloff prompted by concerns over the war in Ukraine and rising interest rates.
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