Melkior Resources Inc. Moblizes to Urban-Barry Area
Timmins, May 29, 2017 - Melkior Resources Inc. ("Melkior") is pleased to announce that it is in the process of mobilizing to conduct a geological investigation on the Maseres Project in the Urban-Barry Greenstone Belt, Quebec. The Maseres Project is located about 14 km southwest of the Osisko Mining Corp.'s Black Dog Deposit. The Black Dog Project has been reported by Osisko to be a gold-silver-copper discovery in a volcanic sequence coincident with magnetic and electromagnetic anomalies and disseminated to semi-massive Au-Ag-Cu bearing sulfides. The Black Dog appears to be on the same magnetic trend as BonTerra Resources Inc.'s Gladiator Project. One interpretation of magnetic geophysical data suggest that this magnetic trend is folded and continues through the Great Thunders Great Dane Project and Melkior's Maseres Project. Mineralized boulders have been historically identified co-incident with this formational conductor and reported to contain 11 ppm gold and 3% copper. Melkior's initial program will consist of prospecting and sampling on the Maseres Project over the metavolcanic sequence that hosts the formational conductor, south of the Great Thunder property boundary. Melkior continues to be active in the Hemlo Area, two additional areas of claims have been staked with recordings pending. These claim groups are contiguous to Melkior's existing holdings, more information will be released on the Ministry of Northern Development and Mines ("MNDM") posting of the mineral claims. Melkior has also been active in evaluating prospective property in the Hemlo area, site visits have been conducted and assays are pending. Additional information on changes to Melkior assets in the Hemlo area are forthcoming. Melkior's current claim group adjoins Canadian Orebodies Inc. and is 3 km west of the claims held by Golden Peak Minerals Inc. The property is located approximately 15 km northeast of the Hemlo Gold Mine currently operated by Barrick Gold Corp..
Melkior's Carscallen Project, Timmins, Ontario, currently has an exploration permit pending with the MNDM. The Application for the Exploration Permit has been posted to the Environmental Registry. A drill contract for 2,700 m has already been awarded for the Carscallen Project and Melkior is fully funded to complete this drilling. On MNDM permit approval, the 2017 Exploration Plan will be implemented. The 2017 Exploration Plan is available on the Melkior website (http://www.melkior.com/wp-content/uploads/MKR-2017-Exploration-Plan.pdf).
Melkior is always searching for new opportunities and is working to enhance its claim inventory in Hemlo, Urban-Barry and in Timmins with the goal of increasing shareholder value.
Jim Deluce, CEO of Melkior expressed, "We are very excited to implement a geological program on our Maseres Project. We hope to establish gold values within the formational conductor that Melkior interprets to extend up through the Great Thunder Property and possibly through to Osisko's Black Dog Deposit. We are actively advancing our projects and we hope that our efforts enhance our shareholders' value."
Wade Kornik, P.Geo., has approved the information contained in this release. Mr. Kornik is the Exploration Manager of the Company and is Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
Keith James Deluce, CEO
For more information, please contact:
E-mail: info@melkior.com
Tel: 705-267-4000
The reader is invited to visit Melkior's web site www.melkior.com.
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