Melkior Announces Carscallen Geological Model Spanning 800 Meters of Potential Strike Length
Timmins, June 26, 2020 - Melkior Resources Inc. ("Melkior" or the "Company") (TSXV:MKR) (OTC:MKRIF) is pleased to announce that it has completed its first phase of Leapfrog Drill database processing which has further highlighted the potential of the high-grade gold systems Melkior is uncovering at it's Carscallen project. Below is a plan view highlighting the Zam Zam and Shenkman Gold Zones: Figure 1 Melkior Carscallen Drill Plan with Recent and Historical Drilling showing high-grade intercepts (>25g/t). Stated lengths are core lengths as drilled. True widths are estimated to be 80% of reported core length intervals.
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Figure 1 Highlights:
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- 800-meter potential NW-SE striking gold system open in each direction.
- The Zam Zam and Shenkman zones possess strikingly similar vein geometries and grade concentrations and may be part of a larger gold system that encompasses a strike length of 800 meters.
- Between the Zam Zam and Shenkman zones lies approximately 375 meters, which has been relatively untested to date.
Figure 2 Carscallen Composite Longitudinal Looking Northeast with Historical and Recent Drill Intercepts. Stated lengths are core lengths as drilled. True widths are estimated to be 80% of reported core length intervals.
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Figure 2 Highlights:
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- There is a strong continuity of mineralized zones both in thickness and in grades that occur throughout the Zam Zam and the Shenkman Zone.
- Drill hole CAR-20-06, collared 220 meters south of the Shenkman Zone to test a geophysical conductor, intersected 5.6 g/t gold and 6.4 g/t silver over 9.5 meters, including 0.5 meters of 67.9 g/t gold, 79.8 g/t silver, 0.62% copper and 0.27% zinc ( May 21, 2020 press release) within rock types believed to be consistent with a possible volcanogenic massive sulphide (VMS) environment. Stated lengths are core lengths as drilled. True widths are estimated to be 80% of reported core length intervals.
- This drill hole effectively expanded the strike extent of the Zam Zam/Shenkman gold zones by 125 meters.
Figure 3 Section 16A with 80 Meter Window Looking 330 Degrees Northwest. Stated lengths are core lengths as drilled. True widths are estimated to be 80% of reported core length intervals.
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Figure 3 Highlights:
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- Mineralization occurs both within the granodiorite and mafic volcanics underlying the granodiorite and is believed to be epigenetic (ore minerals formed after the host rock).
- These mineralized zones seem wider where hosted in the volcanics, and mineralization is strongly continuous with gold occurrences often limited to pyrite rich vein systems.
| Hole ID | Easting UTM | Northing UTM | Length (m) | DIP | Azimuth |
| CAR-20-04 | 451927 | 5358046 | 600.0 | -78 | 240 |
| CAR-20-05 | 451957 | 5358091 | 600.0 | -76 | 240 |
| CAR-20-06 | 451957 | 5357827 | 750.0 | -65 | 240 |
Jonathon Deluce, CEO of Melkior, remarks, "During this field program pause, we have reviewed all of our data to build an updated Carscallen Geological Model. We believe this model outlines the potential of the high-grade gold system we are uncovering that currently has 800 meters of potential strike and is open in all directions. We believe this modeling will help us propose our next drill program to have even stronger drill targets to in-fill, extend the strike, and demonstrate that the two gold zones are connected. We appreciate everyone's patience and look forward to providing an update shortly on the next steps for Carscallen."
The fall and winter 2019/2020 programs were carried out under the supervision of Peter Caldbick, P.Geo, and a consultant for Melkior Resources Inc., the qualified person responsible for this news release. The drill core was split with half sent to Actlabs in Timmins, On and fire assayed with an AA and gravimetric finish. Whole metallic assays are performed on samples greater than 10 g/t gold and samples containing visible gold. In addition, all three drill holes were treated with the 1E3 36 element multi-element package with aqua regia analyses. Duplicates, standards, and blanks were inserted into the sample stream.
High grade intercept list:
| ID | Hole ID | From | To | Width | Au g/t |
| 1 | CAR-19-03A | 433.00 | 433.50 | 0.50 | 372.00 |
| 2 | TW-08-10-13 | 108.50 | 108.80 | 0.30 | 291.00 |
| 3 | CAR-20-05 | 360.50 | 361.20 | 0.70 | 205.00 |
| 4 | CAR-80-2012 | 534.70 | 535.70 | 1.00 | 185.50 |
| 5 | TW-08-SH-1 | 53.65 | 53.95 | 0.30 | 184.00 |
| 6 | CAR-94-2013 | 126.95 | 127.55 | 0.60 | 140.50 |
| 7 | WKD-07-6B | 63.73 | 64.03 | 0.30 | 127.00 |
| 8 | CAR-45-2010 | 183.20 | 183.75 | 0.55 | 107.50 |
| 9 | CAR-71-2011 | 254.00 | 254.50 | 0.50 | 97.30 |
| 10 | CAR-57-2010 | 188.90 | 189.40 | 0.50 | 89.50 |
| 11 | CAR-88-2013 | 88.75 | 89.30 | 0.55 | 80.50 |
| 12 | CAR-61-2010 | 280.80 | 281.50 | 0.70 | 80.00 |
| 13 | ZZ-16-01 | 11.65 | 12.18 | 0.53 | 73.10 |
| 14 | WKD-07-17B | 33.35 | 33.65 | 0.30 | 70.12 |
| 15 | CAR-20-06 | 495.00 | 495.50 | 0.50 | 67.90 |
| 16 | TW-08-10-4 | 18.45 | 18.65 | 0.20 | 57.90 |
| 17 | WKD-07-9B | 40.80 | 41.00 | 0.20 | 56.47 |
| 18 | CAR-16-2009 | 79.90 | 80.80 | 0.90 | 56.00 |
| 19 | CAR-19-2009 | 92.00 | 92.70 | 0.70 | 48.00 |
| 20 | CAR-59-2010 | 261.75 | 262.40 | 0.65 | 44.10 |
| 21 | ZZ-16-03 | 7.00 | 7.42 | 0.42 | 41.70 |
| 22 | CAR-86-2013 | 91.35 | 92.00 | 0.65 | 40.40 |
| 23 | CAR-42-2010 | 563.15 | 563.65 | 0.50 | 39.80 |
| 24 | CAR-69-2011 | 470.00 | 470.50 | 0.50 | 39.40 |
| 25 | CAR-79-2012 | 479.15 | 479.75 | 0.60 | 39.20 |
| 26 | TW-08-10-13 | 108.00 | 108.50 | 0.50 | 35.60 |
| 27 | WKD-07-14 | 18.64 | 18.88 | 0.24 | 32.39 |
| 28 | CAR-43-2010 | 150.80 | 151.30 | 0.50 | 31.90 |
| 29 | CAR-94-2013 | 61.30 | 61.80 | 0.50 | 31.00 |
| 30 | CAR-71-2011 | 266.70 | 267.25 | 0.55 | 30.00 |
| 31 | ZZ-16-06 | 10.47 | 10.85 | 0.38 | 29.20 |
| 32 | CAR-69-2011 | 509.35 | 510.10 | 0.75 | 28.60 |
| 33 | CAR-16-101 | 435.75 | 436.29 | 0.54 | 28.60 |
| 34 | CAR-58-2010 | 261.25 | 261.75 | 0.50 | 26.20 |
| 35 | CAR-46-2010 | 98.85 | 99.80 | 0.95 | 26.10 |
| 36 | CAR-91-2013 | 100.10 | 100.60 | 0.50 | 25.70 |
| 37 | CAR-18-2009 | 208.75 | 209.35 | 0.60 | 25.30 |
Qualified Person
All technical information in this press release has been reviewed and approved by Peter Caldbick, P.Geo. Mr. Caldbick is a consultant for Melkior and a Qualified Person for the purposes of National Instrument 43-101.
ON BEHALF OF THE BOARD
Jonathon Deluce, CEO
For more information, please contact:
E-mail: info@melkior.com
Tel: 226-271-5170
The reader is invited to visit Melkior's web site www.melkior.com.
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