OTTAWA, ONTARIO – Melkior Resources Inc. (TSXV – MKR) (“Melkior”) has received assay results from its recent 990 metre drill program on its Launay gold property located in the Abitibi mineral belt in Launay Township, Quebec. Results for diamond drill holes LAY-01-2012 to LAY-10-2012 were received with intersections of up to 46.35 metres averaging 1.83 grams per tonne (g/t) gold (Au) and 1.14 g/t silver (Ag). Several mineralized zones were encountered near surface and above the 100 metre vertical level. In addition, surface channel sampling results are announced.
The current program was undertaken in the vicinity of a historical showing on the property called “Zone 75”. The objective of the 2012 drill program was to gain a new perspective on the historical showing using surface geology. Previous drilled holes were not duplicated (twinned). The 2012 program was drilled to intersect the vein patterns and the alteration zones as mapped on surface and also to define the mineralized granite in three dimensions. Several generations of granites and alteration were intersected with gold and silver mineralization being primarily associated with a potassic feldspar-rich granite (pink colour). The presence of pyrite and chloritic alteration seems to be closely associated with the gold. Assay results are summarized in the following table.
2012 Launay Drill Results
*Note: Reported drill intercepts are not true widths. At this time, there is insufficient data with respect to the shape of the mineralization to calculation true orientations in space.
Drill holes LAY-02-2012 to LAY-05-2012 were drilled on the north extension of the Zone 75; holes LAY-06-2012 to LAY-10-2012 were drilled in the approximate central portion of Zone 75and were collared approximately 30 metres west of the historical drilling. Hole LAY-01-2012 was drilled in the south part of Zone 75. A map showing the locations on the holes can be found on Melkior’s website: www.melkior.com.
Analysis for arsenic revealed values below the detection limit of 2 parts per million (ppm). The lack of arsenic is a positive feature for environmental issues and mine-mill processing. The pink granite had a significantly anomalous background of gold (~0.5 g/t Au) with wide, higher grade sections. The holes of the present program were drilled at 25 metre intervals over a 200 metre strike length. All drilling was above 100 metres vertical.
Based on the results from the current program additional drilling will be undertaken. A press release will be issued when the program is set to begin.
Core processing included descriptive logging and systematic sampling for analysis. The drill core was sawn in half, with one-half delivered to a commercial laboratory and the other half retained for future reference. Assays were submitted to ALS Chemex Laboratories in Timmins, Ontario and Val-D’Or, Quebec. 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. Following receipt of assays, visual analysis of mineralized intercepts is conducted, and additional analysis may be requested to ensure the accurate representation of the mineralized zones.
This press release was prepared by Dr. Eric Hebert, PGeo., of GeoVector Management Inc., qualified person under National Instrument 43-101. Dr. Hebert has supervised the diamond drill program, logged the core, designed the sampling program and reviewed the quality control information.
For further information regarding the Launay Gold project please refer to the Technical Evaluation Report of the Launay Property, June 30 2006, located on the Melkior website at http://www.melkior.com/uploads/maps/launay/launay_melkior_31march_2006.pdf.
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.
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Melkior Resources Inc.
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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.