OTTAWA, ONTARIO – Melkior Resources Inc. (TSXV – MKR) (“Melkior”) announces the completion of channel sampling on the ZamZam Zone at Melkior’s 100% owned Carscallen , West Timmins gold property.
To date drilling at Carscallen has defined a corridor of significant gold values within a 300 to 400 metre thick, subhorizontal granite cap for a total length of approximately 1000 metres and to a depth of approximately 400 metres. The average width of the zone appears to be about 6 metres. Near-surface holes previously drilled on the ZamZam portion of the corridor suggest the possibility of defining an important near-surface gold resource (see press release November 7th, 2012). Previous surface grab samples recorded up to 843.72 g/t gold.
The objective of the channeling is to obtain controlled surface values that can be integrated into a 43-101 resource calculation. The ZamZam portion of the zone represents the outcropping portion of the gold system.
Based on this work and on previous drilling a systematic grid of additional holes will be planned. The ZamZam zone was trenched and exposed over approximately 240 metres. 13 channels were completed on the ZamZam zone and 5 on the Jowsey zone. Several historical pits and shafts dating from the early 20th century are present at the Jowsey zone. The ZamZam zone was a new discovery by Melkior. The Zam-Zam and Jowsey zones are sub-parallel and about 100 metres apart. They merge at depth to form one wider zone.
A total of 72 samples have been submitted for assays plus two blanks and two standards.
Limited deeper drilling into the volcanic rocks below the granite cap has revealed a large alteration system suggesting potential for an important volcanogenic and gold mineral deposit.
This potential will be explored at a later time. Melkior also believes the gold system originates from, or extends into the underlying volcanic rocks, representing a significant target. Timmins mines typically began at surface and improved with depth.
The sampling results are anticipated in December.
This news release has been prepared by Jens E. Hansen P.Eng, CEO of Melkior Resources Inc.
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 nickel-copper deposit in Ungava.
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Melkior Resources Inc.
E-mail: [email protected]
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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.