OTTAWA, ONTARIO – Melkior Resources Inc. (TSXV – MKR) (“Melkior”) is presenting results from a surface channel sampling program undertaken on the ZamZam Zone at Melkior’s 100% wholly owned Carscallen, West Timmins gold property. The property is located adjacent to a paved highway 25km west of downtown Timmins and adjoins the Lakeshore Timmins Mine.
A series of channels were completed early in November on the ZamZam and Jowsey zones. The gold intersections vary from 0.90 metres to 4.20 metres long depending on surface rock exposure. Surface channel sampling is the technical equivalent of diamond drilling in a horizontal direction at surface. Table 1 displays the results for gold and silver.
The objective of this work is to demonstrate that gold mineralization consistently intersected at the ZamZam zone extends to surface, which is key to an eventual development. Please refer to the November 7th, 2012 news release for past drilling results.
The channel samples covered a total strike length of 215 metres on the ZamZam zone and 60 metres on the Jowsey zone, which is located 100 metres due east of ZamZam. The length of the trenches was limited by the depth of overburden cover.
The area was sampled by a series of parallel channels systematically spaced from 2.00 to 30.00 metre intervals based the accessibility and quality of the exposed surfaces. Map 1 shows the positions of the channels and trenches.
Significance and future work
The objective of the channeling is to obtain controlled surface values that can be integrated into a 43-101 resource calculation. A total of 13 channels were completed on the Zam Zam zone and 5 on the Jowsey zone. Assays confirm continuity of the mineralisation although gold grades and thickness of intersections are variable, which is typical of gold deposits. Drilling has demonstrated continuity and typical variability. A grid of holes to permit a grade and tonnage calculation is planned. Approximately 12 holes spaced 25 metres apart will provide adequate data to evaluate the potential of the mineralized corridor (in thickness and grades).
Launay Gold, Abitibi Greenstone Belt, channel sampling program
In late November/early December, Melkior completed a surface channel sampling program at its 100% wholly owned Launay gold project located in the Quebec portion of the Abitibi Greenstone Belt. Five channels were cut and sampled for a total of 77 metres. Drilling completed earlier in 2012 identified several near surface gold intersections. This data together with historical drilling indicates the potential for a near surface gold deposit in an area of excellent infrastructure. Please refer to the August 30, 2012 press release for past drill results. Results are expected in January 2013.
All surface samples were submitted to ALS Chemex Laboratories in Timmins, Ontario, for assaying. The processed samples were submitted to a standard fire assay with AA technique (Au-AA-24) and inductively coupled plasma emission spectroscopy (ME-ICP-41) on a 50-gram subsample. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. For samples returning greater than 10 g/t gold, follow-up analysis using fire assay with a gravimetric finish is completed.
This press release was prepared by Dr. Eric Hebert, PGeo, of GeoVector Management Inc., Qualified Person under National Instrument 43-101. Dr. Hebert designed and supervised the sampling program and reviewed the quality control information.
Melkior is a junior exploration company with active exploration projects in West Timmins and holds several other exploration properties of which the most important is the 100% owned Launay gold property in West Quebec. Melkior also holds two claim groups in the Beardmore Long-Lac gold camps as well as 49% of the Delta Kenty nickel-copper deposit in Ungava.
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This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Melkior’s periodic reports including the annual report or in the filings made by Melkior from time to time with securities regulatory authorities.