| Melkior
Resources Inc. ("Melkior")
(TSX VENTURE: MKR),is pleased to provide an update
on its current exploration activities.
Melkior has
approximately $4 million available for its ongoing
exploration and administration which management
considers adequate for approximately two years.
Project
Status:
1. McFauld's East
Rim - Nickel. The
property transaction has been completed and accepted
by the regulatory authorities (NR September 25
th , 2008). A MEGATEM survey has been interpreted
and VTEM follow-up of interpreted bedrock anomalies
has been completed.
2. McFauld's
West Rim - Nickel. A
MEGATEM survey has been completed and interpretation
is underway.
3. Timmins West
- Gold. Drilling has
been completed. Core logging and sampling
is underway.
4. Timmins Loveland - Nickel
and Gold. An airborne VTEM survey
has been organized and flying is anticipated
shortly.
5. Geraldton - Gold. An
Aeroquest Limited airborne survey has been completed
and ground follow-up is underway.
6. Launay
- Gold. Drilling
has been completed and a complete geologists report
has been received. The report is being evaluated.
7. Delta - Kenty - Nickel
and PGE. (49%
MKR - 51% Xstrata Nickel). No
program has been proposed for three years. Data
is being evaluated to plan for a future program.
8. Otish - Molybdenum. An
airborne magnetometer-spectrometer survey has been
completed and data processing is underway by the
contractor.
Melkior has benefited from the
availability of funds to advance exploration on all
of its 100% owned properties. This
will keep the properties in good standing for several
years.
Melkior plans to concentrate its
immediate exploration on the McFaulds' and Timmins
area properties. The
other properties are considered valuable assets
and will be further explored as timing permits.
This
news release was prepared by Jens E. Hansen , P.
Eng., President and Director, Melkior Resources
Inc., a Qualified Person under NI 43-101. |
