(TheNewswire)
Highlights:
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13.42 g/t Gold over 2.0 Meters (m),Including 51.9 g/t Au over 0.5m in CAR-21-20
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CAR-21-19 successfully extended themineralized trend 350 meters northwest of the Zam Zam Zone. This hasresulted in identifying multiple high-grade gold-bearing zones withinan approximately 2.5 km by 1.2 km NNW-SSE corridor.
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Drilling is estimated to resumeduring Q2 2022, with 4,200 meters currently budgeted for the remainderof the year.
May 3, 2022 - TheNewswire - Timmins, Ontario - Melkior Resources Inc. (“ Melkior ” or the “ Company ”) (TSXV:MKR) (OTC:MKRIF) is pleased to announceresults from 3,684 meters of drilling from the $110 million strategicinvestment and partnership with Agnico Eagle Mines (PreviouslyKirkland Lake Gold) at the Carscallen Project located approximately 25kilometres southwest of Timmins Ontario. This program is beingoperated by Agnico Eagle Mines (“Operator”) under the option /joint venture announced on Sept 28, 2020. As of March 2022, there wasapproximately $1.3M of work commitment left to be spent by September2022 to meet the minimum commitment.
Program Highlights:
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The Carscallen Gold Project lies within the township of Carscallen,approximately 25 kilometers southwest of Timmins, Ontario. It iscomprised of 295 claim units covering 47 square kilometers with 100%ownership by Melkior.
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The drill program consisted of 3,684 meters.
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Drill hole CAR-21-18, collaredapproximately 50 meters northwest of the ZamZam/Jowsey zone,intersected 6.88 gpt Au over 1.5meters from 384.5 to 386 meters, including 19.6 Au gpt over 0.5 meters from385.5 to 386.0 meters. Drill hole CAR-21-19 , collared 300 meters north of CAR-21-18,intersected 5.85 gpt Au over 1.5meters from 400.0 to 401.5 meters including 16.1 gpt Au, 83.6 gpt Ag, .33% Cu and .23%Zn over 0.5 meters from 401.0 to 401.5 meters.
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Both vein intersections in drill holes CAR-21-18 and CAR-21-19 areinterpreted to be the same vein system, with CAR-21-18 intersected atapproximately 280 meters vertically below surface and CAR-21-19 atapproximately 300 meters vertically below surface. In addition, withmultiple vein intersections in CAR-21-18, these intercepts open this300-meter gap between the two drill holes for additional drill testingand extend the ZamZam/Jowsey zones by 350 meters, which is open to thenorth.
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A deep hole, CAR-21-20, in the Shenkman zone intersected 13.42 gpt Au over 2.0 meters from642 to 644 meters, including 51.9 Augpt over 0.5 meters from 643.5 to 644 meters, approximately 520meters vertically below surface. This intercept occurred approximately160 meters down dip of an earlier intercept in drill hole CAR-20-10, which intersected 6.85 gpt Au over 4.1 meters from408.5 to 412.6 meters, including 40.1gpt Au over 0.5 meters from 412.1 to 412.6 meters approximately375 meters vertically below surface.
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These intercepts from the 2020/2021 drill campaigns have effectivelyexpanded on the down-dip intercepts in the Shenkman zone fromhistorical drilling by approximately 280 meters.
Jonathon Deluce, CEO of Melkior, remarks, “We are excited toannounce these developments from our Partnership’s second phase ofdrilling. We continue to demonstrate the expansion potential of thehigh-grade gold-bearing zones within an approximately 2.5 km by 1.2km, NNW-SSE corridor. We look forward to commencing our Phase 3 drillprogram during Q2.”
Significant Assay Table
Hole-ID | From (m) | To (m) | Length (m) | Au (g/t) | Ag (g/t) | Cu (%) | Zn (%) |
CAR?21?17 | 388.5 | 389.0 | 0.5 | 6.38 | |||
424.0 | 425.0 | 1.0 | 2.01 | ||||
488.0 | 489.0 | 1.0 | 1.30 | ||||
495.0 | 496.0 | 1.0 | 3.69 | ||||
509.5 | 510.0 | 0.5 | 3.31 | ||||
646.5 | 647.0 | 0.5 | 3.72 | ||||
658.5 | 659.0 | 0.5 | 5.17 | ||||
CAR?21?18 | 125.5 | 126.0 | 0.5 | 8.70 | |||
176.0 | 177.0 | 1.0 | 3.65 | ||||
376.0 | 376.5 | 0.5 | 6.39 | ||||
384.5 | 386.0 | 1.5 | 6.88 | ||||
Incl. | 385.5 | 386.0 | 0.5 | 19.60 | |||
CAR?21?19 | 73.0 | 74.0 | 1.0 | 1.56 | |||
400.0 | 401.5 | 1.5 | 5.85 | ||||
Incl. | 401.0 | 401.5 | 0.5 | 16.10 | 83.6 | 0.33 | 0.23 |
CAR?21?20 | 629.5 | 632 | 2.5 | 2.95 | |||
642 | 644 | 2.0 | 13.42 | ||||
Incl. | 643.5 | 644 | 0.5 | 51.9 | |||
655.5 | 656 | 0.5 | 2.03 | ||||
CAR?21?21 | 590.5 | 591.6 | 1.1 | 2.92 | |||
761 | 761.8 | 0.8 | 1.19 | ||||
852 | 853.0 | 1.0 | 1.48 | ||||
0 | |||||||
CAR?21?22 | 69.5 | 71 | 1.5 | 1.37 | |||
88 | 88.5 | 0.5 | 1.45 | ||||
0 |
* Stated lengths are core lengths as drilled. Truewidths are estimated to be 80% of reported core length intervals.
Plan View:
Hole ID | Easting UTM | Northing UTM | Length (m) | DIP | Azimuth |
CAR?21?17 | 5358492 | 451768 | 702 | ? 60 | 240 |
CAR?21?18 | 5358714 | 451632 | 414 | ? 50 | 240 |
CAR?21?19 | 5359006 | 451595 | 423 | ? 50 | 240 |
CAR?21?20 | 5358292 | 452268 | 882 | ? 55 | 240 |
CAR?21?21 | 5358642 | 452055 | 960 | ? 55 | 240 |
CAR?21?22 | 5356610 | 451688 | 303 | ? 55 | 190 |
The drill program was performed and managed by Agnico Eagle Mines(Previously Kirkland Lake Gold). The drill core was split with halfsent to Actlabs in Timmins, ON, and fire assayed with an AA with anysamples over 10 g/t being assayed with gravimetric finish. Wholemetallic assays were performed on samples containing visible gold. Inaddition, all six drill holes were treated with the 1E3 36 elementmulti-element package with aqua regia analyses. Duplicates, standards,and blanks were inserted into the sample stream.
Carscallen Next Steps:
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Drilling is estimated to resume during Q2 2022, with a minimum 4,200meters currently budgeted for the remainder of the year.
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A historical geophysics review is underway to assist with explorationtargeting.
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This summer, a field program is being planned with a second phase ofsoil sampling, trenching and field mapping being considered.
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.
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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