(TheNewswire)
Highlights:
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Results from Summer Phase 1Prospecting Program, where 103 samples were collected through chip andfloat sampling on outcrops and historical trenches/blast sites focusedon extension targets.
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10 rock chip samples yielded greaterthan 1% copper, with 4 samples above 2% copper (Outcrop or trenchwall)
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Sample F213572 assayed 12.6% copper,4.48 g/t gold, 24.4 g/t silver, 0.047% cobalt
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5 rock grab samples on float blocksyielded greater than 1% copper, with two samples above 5%
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Sample F213671 assayed 7.5% copper,2.3 g/t gold, 0.036% cobalt
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5 rock grab samples on float blocksyielded greater than 1 g/t gold, with the highest result of 43.9 g/tgold.
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Sample F213516 assayed 0.095 %copper, 0.7% zinc, 43.9 g/t gold, 23.8 g/t silver
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October 04, 2023 – TheNewswire - Timmins, Ontario - Melkior ResourcesInc. (“ Melkior ” or the“ Company ”) (TSXV:MKR)(OTC:MKRIF) is pleased to announce the results from its Phase 1 SummerProspecting Program at Genex, focused on testing surface extensions ofthe historical Genex deposit, currently under option fromInternational Explorers and Prospectors Inc ( see news release dated April 21,2022 ).
The Company embarked on an aggressive multifaceted exploration programover the course of the summer to uncover the surface footprint of theGenex polymetallic deposit. The program included prospecting focusedon the northern extension of the Genex deposit, a beep mat explorationprogram, as well as a large trenching and channel sampling program.
Jonathon Deluce, CEO of Melkior, states, “We are excited to announcethese strong results from our Phase 1 prospecting program at Genex.These initial efforts were successful in validating the gold potentialof the Claim Post trend located between 100 and 250 metres north ofthe historical Genex Mine. We believe these results support theexpansion potential of the mineralized system to the north that hasseen limited historical drilling
We anticipate unveiling more comprehensive results on the remainingprograms, which include a beep mat exploration program as well as astripping and channel sampling program.”
This first phase was exploratory and consisted ofbedrock and float sampling concentrated first on historical blastedtrenches located outside the historical mine perimeter. Theprospecting team worked mostly north and northwest of the historicalGenex deposit to cover the “claim post” trend wherecopper-gold-zinc values were obtained from historical blasted trenchesand sporadic short diamond drill holes. The chip sampling of bedrockand excavation walls, totaling 79 samples, was accompanied by thesampling of float blocks of close origin. The grab samples totaled 24samples for this phase. Sampling highlights include thefollowing:
Phase 1 Prospecting Highlights - Chipsamples from outcrop and trench walls*
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10 rock chip samples yielded greater than 1% copper,with 4 samples above 2% copper
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Sample F213816 assayed 3.1% copper, 1.44 g/ gold, 50.1g/t silver
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Sample F213572 assayed 12.6% copper, 4.48 g/t gold,24.4 g/t silver, 0.047% cobalt
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9 rock chip samples yielded greater than 1% zinc, with3 samples around 2% zinc
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Sample F213533 assayed 1.0% copper, 2.7% zinc
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Phase 1 Prospecting Highlights - Grabsamples from float*
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5 rock grab samples on float blocks yielded greaterthan 1% copper, with two samples above 5%
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Sample F213671 assayed 7.5% copper, 2.3 g/t gold,0.036% cobalt
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Sample F213569 assayed 5.3% copper, 2.1 g/t gold,0.046% cobalt
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10 rock grab samples on float blocks yielded greaterthan 1% zinc, with 2 samples around 10% zinc
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Sample F213508 assayed 0.2% copper, 10.7% zinc, 5.46g/t gold, 22.5 g/t silver
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Sample F213512 assayed 0.6% copper, 13.1% zinc
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5 rock grab samples on float blocks yielded 1 g/t goldwith the highest result of 43.9 g/t gold
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Sample F213516 assayed 0.095 % copper, 0.7% zinc, 43.9g/t gold, 23.8 g/t silver
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*See full table in Schedule A
This sampling is preliminary and cannot be comparableto a measured sampling such as a channel sampling or a drillhole.
Figure 1 (Gold Results > 1 g/tAu)
Figure 2 (Copper Results > 5%Cu
Figure 3 : Highlight Sample
Phase 1 Prospecting Summary of ClaimPost Target
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During the Phase 1 Prospecting Program, a series of 103samples were collected through chip sampling on outcrops andhistorical trenches/blast sites focused on extension targets relatedto the claim post trend, located between 100 and 250 metres north andnorth-east from the historical Genex “C” Zone.
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This first phase aimed at documenting the historicalsampled sites around the historical underground working, assessing theindication of gold mineralization, and determining the geologicalenvironment in conjunction with geophysics.
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The main northern target being tested is a strongconductor and chargeability anomaly of northeast orientation, whichcoincides with a high metal signal.
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As indicated by Sample F213508 (Figure 3) coming from ablasted float block, the claim post mineralization is mainly in theform of foliated volcanic rocks of mafic composition. Alterationassemblages are varied and can be classified as: sericite-quartz,chlorite, carbonate rich and silicified.
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Mineralization observed by the teams was primarilycomprised of disseminated chalcopyrite, sphalerite, andpyrite.
Schedule A & Table 1: Phase 1Sampling Highlights
QA/QC
Rock samples were sent to AGAT in Timmins, ON, and fireassayed with an AA, with any samples over 10 g/t being assayed withgravimetric finish. Additionally, for base metals, Metals Package by 4Acid Digest, ICP-OES Finish was used with over limits tested by 4-Aciddilution testing. Standards, and blanks were inserted into the samplestream.
Qualified Person
All technical information in this press release hasbeen reviewed and approved by Martin Demers, P.Geo. (PGO registration#3785). Mr.Demers is a consultant for Melkior and aQualified Person for the purposes of National Instrument43-101.
About Melkior Resources
Melkior Resources is an exploration stage resourcecompany in world-class mining jurisdictions with a strong partner.Melkior’s flagship Carscallen Project is being advanced by AgnicoEagle Mines Limited through an option agreement pursuant to whichAgnico Eagle has the option (but not the obligation) to acquire up toa 75% interest to the Carscallen Project by spending $110 million onthe Carscallen Project over a 10-year period. See the Company’s newsrelease dated September 28, 2020 for more information. Melkior, under100% ownership, is focused on advancing its Genex, Val D’Or, WhiteLake and Maseres Projects. Agnico Eagle also owns approximately 6% ofthe issued and outstanding common shares of Company.
ON BEHALF OF THE BOARD
Jonathon Deluce, CEO
For more information, pleasecontact:
Melkior Resources Inc.
E-mail: info@melkior.com
Tel: 226-271-5170
The reader is invited to visit Melkior's website www.melkior.com .
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