(TheNewswire)
Highlights:
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The drill program has been extendedto 6,100 meters which will be complete by mid-October
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Drilling to date has focused ontargets within the Shenkman, ZamZam, Mystery and 1010 Zones.
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The Shenkman Zone has the potentialto deliver high-metal factor intercepts as seen in 2012 with 51.9 g/tGold over 3.7 Meters, 2019 with 23.5 g/t Gold over 8.0 Meters and 2020with 25.7 g/t Gold over 6.0 Meters.
Timmins, Ontario. - TheNewswire – October 4, 2022 - Melkior Resources Inc. (“ Melkior ” or the “ Company ”) (TSXV:MKR) (OTC:MKRIF) is pleased to announcethrough the strategic partnership with Agnico Eagle Mines Ltd.(Previously Kirkland Lake Gold Ltd.) the expansion of the currentdrill program to 6,100 meters on its Carscallen Project located approximately 25 kilometers west ofTimmins Ontario and approximately 6 kilometers west of Pan AmericanSilver’s West Timmins Mine.
As of the end of August, 3,744 meters of drilling have been completed,with drilling still underway. The drill program is expected to finishby mid-October, and assays will be reported once all have beenreceived.
Program Summary:
This Phase 3 drill program was designed to follow up on 2021-Q4’sprogram and holes drilled targeting the deep Shenkman zone and theNorth ZamZam extension. Additional targets have been drilled in theMystery and 1010 Zones which were not assessed in the previousprograms.
Shenkman Zone:
Current drilling within the Shenkman Zone has targeted a high-gradenorthwest trending corridor of gold mineralization based on modellingfrom previous drilling.
ZamZam Extension:
A drill hole has been planned 100 meters north of drill hole CAR-21-19which was collared 300 meters north of the ZamZam Zone and intersected5.84 g/t over 1.5 meters, including 16.1 g/t over 0.5 meters. Thisdrill hole is designed to test for continuity of gold mineralizationnorth of the ZamZam Zone.
1010 Zone:
Two drill holes have been designed to test the 1010 South and 1010North Zones. The first hole on 1010 South is designed to test a strongIP chargeability conductor. The second hole on 1010 North has beencollared to test for the downdip extension of a historical goldintercept in CAR-29-2010, which intersected 17.28 g/t over 0.65meters.
Mystery Zone:
A drill hole has been designed to test the Mystery Zone, which issituated approximately 500 meters southeast of the Shenkman Zone.Little is known of this area; however, a program of surface mappingand grab sampling during the summer of 2021 identified mineralizedvein occurrences with grab sample assays as high as 11.6 g/t. Inaddition, a soil geochemistry program during the summer of 2021revealed elevated anomalous gold responses in the Mystery Zone area.
Qualified Person
All technical information in this press release has been reviewed andapproved by Peter Caldbick, P.Geo. Mr.Caldbick is a consultant for Melkior and a Qualified Person for thepurposes of National Instrument 43-101.
About Melkior Resources
Melkior Resources is an exploration stage resource company inworld-class mining jurisdictions with a strong partner. Melkior’sflagship Carscallen Project is being advanced by Agnico Eagle MinesLtd. (Previously Kirkland Lake Gold Ltd.) through an option agreementpursuant to which Agnico Eagle Mines Ltd. has the option (but not theobligation) to acquire up to a 75% interest to the Carscallen Projectby spending $110 million on the Carscallen Project over a 10 yearperiod. See the Company’s news release dated September 28, 2020 formore information. Melkior, under 100% ownership, is focused onadvancing its Genex, Val D’Or, White Lake and Maseres Projects.Agnico Eagle Mines Ltd also owns approximately 6% of the issued andoutstanding 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 web site www.melkior.com.
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