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Melkior Resources Inc (2)
Symbol MKR
Shares Issued 21,299,420
Close 2021-04-08 C$ 0.44
Market Cap C$ 9,371,745
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Melkior Resources completes drill program at Val d'Or

2021-04-08 10:44 ET - News Release

Mr. Jonathon Deluce reports

MELKIOR COMPLETES MAIDEN DRILL PROGRAM AT VAL D'OR

Melkior Resources Inc.'s drilling on its Val d'Or property has been successfully completed. One thousand four hundred forty-nine metres of drilling was completed, and 705 samples were obtained during the process.

Multiple mineralization and alterations were discovered during this drill program which correlate well with pathfinders defined in the historical Bruell gold discovery, located 240 m east of the property. The most significant observations during the company's core logging include:

  • Four m of brecciated and silicified volcanoclastics hosting quartz veinlets;
  • Up to 10 per cent of fine and disseminated pyrite in multiple sections;
  • A breccia and a shear zone associated with a mineralized quartz conglomerate;
  • Multiple other observations associated with gold mineralization at Bruell include: titaniferous magnetite, bleaching of the host rock, quartz veins, sulphide mineralization that is associated with QFP dikes or shear zones, and sulphides without the presence of any QFP dike.

Some mineralization observed also correlates well with the historical mineralization that resulted in 3.9 grams per tonne gold over 0.30 m between 193.88 m and 194.18 m (Perron and Guay, 1988) (see news release dated March 17, 2021). The historical logging mentions that "the gold anomalies are associated with quartz, calcite and pyrite veins located at the contact between the basalt and the QFP." The core reviewed in VDE-21-08 shows a mineralized sheared basalt at the contact of a QFP. This is located at a depth corresponding well with the along dip extension of the historical drill hole.

Methodology

A total of 705 samples were collected (including 72 quality assurance/quality control samples) and sent to Agat laboratories for gold and metal assaying in Val d'Or. Gold is assayed using the 202-051 Au package from Agat, which consists of AAS pyroanalysis assay. Base metal and other elements in rocks are assayed using the 201-070 package from Agat, which consists of four-acid digestion with ICP-OES finish. A suite of 43 elements are analyzed: 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.

Bibliography

Perron L., Guay P., 1988: Rapport de travaux d'exploration 1987 to 1988, Projet Vauquelin No. 466. Mines Messeguey Inc., GM 47581.

Qualified person

This press release was prepared by Steven Lauzier, PGeo, OGQ, and Pierre-Alexandre Pelletier, PGeo, OGQ, who are both qualified persons as defined under National Instrument 43-101, and both have reviewed and approved the geological information provided in this news release.

About Melkior Resources Inc.

Melkior Resources is an exploration-stage resource company with strong partners in world-class mining jurisdictions. Melkior's flagship Carscallen project is being advanced by Kirkland Lake Gold through a $110-million option/joint venture agreement. Melkior's White Lake project is being advanced by Barrick Gold through a $4-million option/joint venture agreement. Melkior, under 100-per-cent ownership, is focused on advancing its Val d'Or and Maseres projects in Quebec. Kirkland Lake Gold currently owns approximately 6 per cent of the company.

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