(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 – MelkiorResources Inc. (“ Melkior ”or the “ Company ”)(TSXV:MKR) (OTC:MKRIF) is pleased to announce the results from itsPhase 1 Summer Prospecting Program at Genex, focused on testingsurface extensions of the historical Genex deposit, currently underoption from International 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 of bedrock and floatsampling concentrated first on historical blasted trenches locatedoutside the historical mine perimeter. The prospecting team workedmostly north and northwest of the historical Genex deposit to coverthe “claim post” trend where copper-gold-zinc values were obtainedfrom historical blasted trenches and sporadic short diamond drillholes. The chip sampling of bedrock and excavation walls, totaling 79samples, was accompanied by the sampling of float blocks of closeorigin. The grab samples totaled 24 samples for this phase. Samplinghighlights include the following:
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
Figure 3 : Highlight Sample
Phase 1 Prospecting Summary of ClaimPost Target
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During the Phase 1 Prospecting Program, a series of 103 samples werecollected through chip sampling on outcrops and historicaltrenches/blast sites focused on extension targets related to the claimpost trend, located between 100 and 250 metres north and north-eastfrom the historical Genex “C” Zone.
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This first phase aimed at documenting the historical sampled sitesaround the historical underground working, assessing the indication ofgold mineralization, and determining the geological environment inconjunction with geophysics.
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The main northern target being tested is a strong conductor andchargeability anomaly of northeast orientation, which coincides with ahigh metal signal.
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As indicated by Sample F213508 (Figure 3) coming from a blasted floatblock, the claim post mineralization is mainly in the form of foliatedvolcanic rocks of mafic composition. Alteration assemblages are variedand can be classified as: sericite-quartz, chlorite, carbonate richand silicified.
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Mineralization observed by the teams was primarily comprised ofdisseminated chalcopyrite, sphalerite, and pyrite.
Schedule A & Table 1: Phase 1 SamplingHighlights
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 has been reviewed andapproved by Martin Demers, P.Geo. (PGO registration #3785). Mr. Demers is a consultant for Melkior anda Qualified Person for the purposes 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 MinesLimited through an option agreement pursuant to which Agnico Eagle hasthe option (but not the obligation) to acquire up to a 75% interest tothe Carscallen Project by spending $110 million on the CarscallenProject over a 10-year period. See the Company’s news release datedSeptember 28, 2020 for more information. Melkior, under 100%ownership, is focused on advancing its Genex, Val D’Or, White Lakeand Maseres Projects. Agnico Eagle also owns approximately 6% of theissued and outstanding common shares of 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 website www.melkior.com .
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