Melkior Resources Inc. Urban Soil Sampling Underway
Timmins, July 24, 2017 - Melkior Resources Inc. ("Melkior") is pleased to announce that it is presently onsite conducting a soil sampling program on the Maseres Project in the Urban-Barry Greenstone Belt, Quebec. The Maseres Project is located about 14 km southwest of the Osisko 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's Gladiator Project. Geophysical data suggest that this magnetic trend is folded and continues through Melkior's Maseres Project. Mineralized boulders co-incident with this formational conductor have been historically identified and reported to contain 11 ppm gold and 2% copper (NR April 13, 2017).
The soil sampling currently being conducted will cover the area of the formational trend recently investigated (NR June 20, 2017) and consists of about 700 soil samples collected on a 50 m x 50 m grid spacing over an area of about 3,000 x 600 m centered over the axis of the formational conductor. Soil samples will be obtained from the A-horizon and submitted for multi-elemental analysis. This sample program will determine if A-horizon sampling is capable of discriminating gold anomalies in the environment present on the Maseres project. If successful, soil sampling coverage will be extended over areas of the Maseres Project that were surveyed in the historical 1992 airborne survey. Additionally, if the A-horizon soil sampling is capable of discriminating gold anomalies, Melkior will be in a position to proceed with implementing a VTEM survey with the confidence that the data, in conjunction with A-horizon soil sampling can be used together to advance targets towards the drill stage. The near ubiquitous presence of the A-horizon in conjunction with its ease and rapidity of collection, could make it a useful and cost-effective exploration tool.
The results of the chemical analysis from the rock samples obtained from bedrock and boulders (NR June 20, 2017) did not return any significant gold values. While the analytical results were disappointing, the observations from the reconnaissance program confirmed that the Maseres Project is located in a favorable geology setting.
Melkior's Carscallen Project, Timmins, Ontario, has been awarded an exploration permit. The start of drilling is imminent and will be announced. The 2017 Exploration Plan is available on the Melkior website (http://www.melkior.com/wp-content/uploads/MKR-2017-Exploration-Plan.pdf).
Jim Deluce, CEO of Melkior commented, "Melkior is of the opinion we are on the same formational conductor that hosts Osisko's Black Dog deposit. We are pleased to be in the enviable position of having so many quality EM and conductive targets in such close proximity to Osisko. Our team is now endeavoring to validate the best exploration tools for the Maseres project and to determine priority areas for more advanced exploration."
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.
This news release may contain or refer to forward-looking information based on current expectations, including, but not limited the prospect of the Company achieving success in exploring the Maseres Project and the impact on the Company of these event, including the effect on the share prices. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances.
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