(TheNewswire)
January 25, 2022 - TheNewswire - Timmins, Ontario - Melkior Resources Inc. (“ Melkior ” or the“ Company ”) ( TSXV:MKR )(OTC:MKRIF) is pleased to announce results fromits 2021 work program on the Val d’Or Property (the “ Property ”) , located inthe Abitibi region of Quebec. To date, multiple drill targets havebeen defined on the southern part of the Property to further test theBruell showings extensions and follow-up previously defined anomalies.A second part of the exploration work consisted of a surfaceexploration survey that followed up on anomalies defined in a 2020survey. The follow-up program indicates strong targets for additionalwork in 2022 that is expected to confirm the location of trenching andadditional drill targets.
Drilling
In 2021, the Company completed two distinct explorationprograms on the Property. The first program consisted of a drillprogram testing the western extensions of the Bruell series ofshowings, located just east of the Property ( see news release dated November12 th , 2021 ). The program successfully followed-up on historical gold,zinc and silver anomalies and extension of the mineralized structuralfeatures. An additional review will be completed to add new targets onmultiple geophysical anomalies (magnetic high and lows; conductors andpolarisable anomalies) that are untested in the central and westernarea of the IP grid since previous work focused on the eastern section( see news release datedFebruary 23 rd ,2021 ).
Surface Exploration
The second work program of 2021 consisted of soilsampling and prospecting to follow-up on anomalies generated duringthe first surface exploration program completed in 2020 ( see news release dated August27 th , 2020 ). A total of 47 soil samples (on 74 visited samplinglocations) and 18 rock samples were taken. The survey results furtherdefine the 4 targets located on the Property (refer to Figure1).
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Target 1 islocated on the western portion of the Property, with a large (~2000mwide) and strong dispersion trail. The Jenson Showing is located NE ofthe Target and consists of a quartz vein with disseminated pyrite. Theshowing returned 6.7g/t Au in a grab sample (Gariepy, 1988). The knownshowing is too small (0.3mx5.0m) to leave such a large and intensegeochemical trail, so we believe another source is present up-ice.
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Target 2 islocated on the north portion of the Property. It is up-ice of acluster of anomalous samples, including a 14g/t Ag boulder sampled in2020. A strong magnetic gradient is present in the vicinity and couldcorrespond to a radical lithological change within thePascalis-Tiblemont Batholith.
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Target 3 islocated just north of the Lac Poisson-Nord Showing. There is littlesoil sample information down-ice due to the presence of clay insteadof till. Nonetheless, the presence of the showing is an indicator thatthe area should be further evaluated.
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Target 4 islocated in the center of the Property and is up-ice of a cluster ofanomalous samples.
Further target and exploration plan details for 2022will be provided in subsequent news releases. The 2022 program isexpected to include surface follow-up on the multiple targets,cartography, and trenching/drilling over any well-defined potentialsource of the anomalies.
Jonathon Deluce, ChiefExecutive Officer of Melkior Resources, commented: “The Val d’Or Property provides the Company with a goodopportunity to make a grassroots discovery in an under-explored areaof Quebec. Recent work continues to define the numerous targets, andrecent M&A in the Val d’Or district highlights the continuedexploration potential and interest from the intermediate/majorproducers.”
Figure 1. Targets on the Val d’OrProperty
Methodology
Soil samples weighing between 1 and 1.5kg were taken onspecific sites in the B or C horizon and were put in cotton soilsamples bags. Multiple samples were put into large rice bags and thensent to Agat Lab. At the laboratory, the soil samples were prepared byprotocol 200-001, which consists of drying, crushing (<5 kg) up to75% passing 2mm (10 mesh), riffle splitting (250 g) and pulverizing(mild steel) to 85% passing 75µ. Base metal and other elements inrocks were assayed using 201-070 package, which consists of 4 aciddigestion with ICP-OES finish. A suite of 43 elements was analyzed.The multi-element package contains Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce,Co, Cr, Cu, Fe, Ga, In, K, La, Li, Mg, Mn, Mo, Na, Ni, P, Pb, Rb, S,Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn and Zr.
Qualified Person
This press release was prepared by Steven Lauzier,P.Geo,OGQ, and Pierre-Alexandre Pelletier, M.Sc. P.Geo,OGQ, whom arequalified persons as defined under National Instrument 43-101, and whoreviewed and approved the geological information provided in this newsrelease.
Stock Options
The Company announces that it has granted incentivestock options (the “Options”) to directors and officers of theCompany for the right to purchase up to an aggregate of 450,000 commonshares of the Company, exercisable at the price of $0.35 per share forfive years. In the event of resignation from the Company by a directoror officer, the Options granted to such director or officer will besubject to an accelerated one-year exerciseperiod commencing on the date of resignation in accordance with theterms of the Company’s Stock Option Plan.
About Melkior Resources
Melkior Resources is an exploration stage resource company with astrong partner in world-class mining jurisdictions. Melkior’sflagship Carscallen Project is being advanced by Kirkland Lake Goldthrough a $110M option/joint venture agreement. Melkior under 100%ownership, is focused on advancing it’s Val D’Or, White Lake andMaseres Projects. Kirkland Lake Gold currently owns approximately 6%of the Company.
ONBEHALF 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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