Marvel Gold Returns Low-Level Gold from 29-Hole Maiden RC Drill Program at Hanang, Tanzania

Manish Choudhary

13 November 2026 02:46 PM AEDT

Marvel Gold Returns Low-Level Gold from 29-Hole Maiden RC Drill Program at Hanang, Tanzania

Image Source: Krish Capital Pty Ltd

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Marvel Gold Limited (ASX:MVL) has received all assay results from its maiden reverse circulation drilling programme at the Hanang Gold Project in Tanzania's Manyara Region, with the 29-hole, 4,153-metre programme returning low-level gold values below 0.5 g/t Au across all intercepts.

Key Points

All assay results received from a 29-hole, 4,153-metre maiden RC programme at the Hanang Gold Project, Tanzania, drilled between June and October 2026.
Best intercept was 1 m at 0.44 g/t Au from 136 m in hole HRC021; all results were below 0.5 g/t Au.
Of 2,626 primary samples, 2,191 (83%) were below the 0.015 g/t Au detection limit, with eight samples from six holes returning 0.1 g/t Au or more.
The Hanang Gold Project is held 100% by the company's wholly owned Tanzanian subsidiary Cobra Resources Limited.
The company will integrate drilling results with geology and geophysics to determine next steps, including ranking remaining untested targets across the Hanang licences.

Maiden RC Drilling Programme Details

The programme comprised 29 RC holes (HRC001–HRC029) for approximately 4,153 metres, drilled by Coreworthy, a local content compliant contractor. Holes were drilled to a maximum depth of 150 metres and tested 12 prospects across three of the company's eight licences, with targets based on geology, magnetic data and geochemistry from soil sampling. One-metre samples were collected from the rig cyclone and split on site, with selected intervals composited to two or three metres. Approximately 72% of metres drilled were assayed. Samples were submitted to MSALabs for PhotonAssay gold analysis, with inter-laboratory checks conducted at SGS using 50 g fire assay.

Assay Results Across the Hanang Programme

Gold values were low across the programme, with 83% of primary samples below the detection limit of 0.015 g/t Au. Eight samples from six holes returned 0.1 g/t Au or more. The best intercepts included 1 m at 0.44 g/t Au from 136 m in HRC021, 2 m at 0.16 g/t Au from 93 m in HRC005, 1 m at 0.17 g/t Au from 80 m in HRC022, and 1 m at 0.16 g/t Au from 110 m in HRC002, the latter confirmed by independent SGS fire assay at 0.16 g/t Au. Using a 0.1 g/t Au lower cut-off with up to 2 m internal dilution, no intercept exceeded 2 m in width. Seven of the 12 prospects returned no result above 0.1 g/t Au.

Interpretation and Planned Next Steps at Hanang

The six anomalous holes are spread across six prospects over approximately 8 kilometres and cannot be linked to a single structure at the current drill spacing. Parts of the Hanang licences remain untested by drilling, including PL13895, PL11733, PL11734 and PL11743, along with prospects such as Sophia South, Sophia Extension and the NY fold target. The company disclosed it will complete its interpretation of drilling by integrating logging, assays, soil geochemistry and geophysics; consider multi-element analysis of selected samples; rank remaining targets; and update the market on the forward plan for Hanang and how it fits within the company's broader portfolio, including reviewing additional licences in Tanzania and elsewhere in Africa.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.