Melkior Commences Drilling at Beschefer East
(TheNewswire)
Timmins, Ontario – TheNewswire - February 6, 2025 - Melkior ResourcesInc. (“ Melkior ” or the “ Company ”) (TSXV:MKR) (OTC:MKRIF) is pleasedto announce the commencement of its Winter Drill Campaign at theBeschefer East Project located in the NorthernAbitibi greenstone belt in Quebec approximately4.5 km northeast of B-14, and 13km on trend northeast of B26 and 17kmeast of the Selbaie Mine. On June 14th, 2023, the Company entered intoan option agreement on the Beschefer East Project to earn 100% over 3years from SOQUEM Inc (see news release dated June 14,2023 ).
Highlights :
A six-hole winter drill program with a total of 1,050drill metres is under way at the Beschefer EastProject . This drill program will test newtargets identified from a biogeochemical gold-copper anomalous region that was identifiedusing the black spruce tree bark sampling method. This target was selected for testing,considering the strong overlap between metal signatures and ground Induced Polarization ( IP grid. The target area spans 800 metres in a regionpreviously untested by drilling.
Figure 1 Drill Location Map(SIGEOM Regional Tilt Magnetic data)
DrillProgram:
A six-hole drill program with a total of 1,050 metresis underway at Beschefer EastProject . The target areaspans 800 metres in a region previously untested by drilling. Individual drill holes ranges in depth from150 to 200 metres.
The primary objective of t hisdrill program is to test the new targets identified from the biogeochemical gold-copperanomalous region. It was previously identified using the black sprucetree bark sampling method. Thistarget was selected for testing, considering thestrong overlap between metal signatures and the ground Induced Polarization ( IP ) grid. A line cutting and data acquisition survey wasrecently completed, east of the target area. The Company hasreceived the preliminary data. The three 1.5 km IP lines completedwill give insight into the possibility to expand the targetzone.
MMI, Bark & High-ResolutionMagnetic Programs:
In preparation for the drill program the Companycompleted an MMI, tree bark sampling and a high-resolution magneticprogram with the following highlights:
Five (5) new gold-copper targets were identified usingthe black spruce tree bark sampling method.
Three (3) copper-lead-zinc targets were identifiedusing the mobile metal ion sampling method.
There has been limited historical drilling on the newtargets identified, as the majority of historical drilling has beenfocused on the basalt and tuff geological units while the anomaliespresented are located primarily in felsic rocks.
The Company executed a quality high-resolution airbornemagnetic survey which confirmed trends over these strategic targets.
A total of 518 MMI samples were collected over twounique grids at Beschefer East (see Figure 2), while 1,780 blackspruce tree bark samples were collected using 100m X 100m spacingacross the entire sampling grid (see Figure 4).
The helicopter-borne survey was carried out byProspectair, based out of Gatineau, Québec and totaled 968 linekilometres. The magnetometer used for the survey consisted of a nonoriented (strap-down) optically-pumped Cesium split-beam sensor(Geometrics G-822A).
An area of 34km 2 was covered byusing a line spacing of 50 metres and N150 Azimut to optimize theclarity and detail of subtle structures. In addition, the Companycompleted two infill blocks covered with lines every 50 metres, butoffset by 25 metres to the main blocks lines. This effectivelyprovided a 25m line spacing within the infill blocks.
Figure 2: MMI & BarkInterpritation – Target D Winter Drill Target
Figure 3 – MMI Sampling Grid
Figure 4 – Bark Sampling Grid
Figure 5 – High Resolution MagneticSurvey
Genex Update:
On January 1 st , 2025, the Company and InternationalExplorers & Prospectors Inc. appointed an arbitral tribunal todetermine the parties’ rights and obligations under their optionagreement dated April 19, 2022, in respect of the Genex Project (seethe Company’s new release dated April 20, 2022 for additionalinformation). The parties are working toward setting a hearing date,which is expected to be scheduled June 2025 or later this year.
Stock Options:
The Company announces that, subject to regulatoryapproval, it has approved the grant of 1,200,000 incentive stockoptions to directors and an officer of the Company. The options areexercisable at an exercise price of $0.08 per share for a period of upto five years.
Qualified Person
All technical information in this press release hasbeen reviewed and approved by Martin Ethier, PGeo (# 1520) consultantfor Melkior, who is a member of the Order of Geologists of Quebec anda qualified person as defined under NI 43-101.
About Melkior Resources
Melkior Resources Inc. is an exploration-stage resourcecompany operating in world-class mining jurisdictions across Quebecand Ontario. The company is dedicated to advancing a portfolio ofhigh-potential mineral properties with a primary focus on goldexploration.
Melkior’s flagship projects include the CarscallenProject, the Beschefer East Project, the Genex Project and theVal-d’Or Project. These projects are strategically located in theAbitibi Greenstone Belt, known for hosting significant gold and basemetal deposits.
About SOQUEM:
SOQUEM, a subsidiary of Investissement Québec, isdedicated to promoting the exploration, discovery and development ofmining properties in Quebec. SOQUEM also contributes to maintainingstrong local economies. Proud partner and ambassador for thedevelopment of Quebec’s mineral wealth, SOQUEM relies on innovation,research and strategic minerals to be well-positioned for thefuture.
ONBEHALF OF THE BOARD
Keith James Deluce, Director
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.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
Copyright (c) 2025 TheNewswire - All rights reserved.
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