Marvel Gold (ASX:MVL) said soil geochemistry assays from the Hanang gold project in Tanzania identified gold anomalies of over three kilometers at the Sophia target and confirmed mineralization at the Boundary Zone and New York areas, according to a Thursday Australian bourse filing.
The highest-grade sample was taken from the New York target, at over 2 grams per tonne grade of gold.
The results of the soil samples will be combined with an upcoming magnetic survey, as well as further geochemical analysis, to assist the firm in targeting its maiden drill campaign.
Its shares fell almost 6% in recent trading on Thursday.