TIMMINS, Ontario, Sept. 10, 2018 (GLOBE NEWSWIRE) — Melkior Resources Inc. (“Melkior”) is pleased to confirm that volcanic units including, mafic tuff and chert are present on the Maseres Project area. This establishes the historical presence of a subaqueous volcanic environment. Melkior has previously stated the opinion that “The Maseres Project may be situated in one of the most prospective gold rich, Bousquet Type, VMS environments Canada has ever seen.” A subaqueous volcanic environment is one of the prerequisites for a suitable depositional environment for a gold rich, Bousquet Type, VMS deposit.
In 2017 Melkior conducted groundwork comprised of soil sampling and an initial prospecting campaign over the EM anomaly trend defined in a historic airborne survey. Both of these endeavors were considered successful with mafic subcrop being identified along with evidence of hydrothermal alteration, veining and limited mineralization. The assay results from the soil sampling program exceeded our expectations, resolving Melkior to conduct a VTEM survey over the entire property.
The results of the 2018 VTEM survey exceeded our expectations, extending the formational conductor, with locally associated anomalous soil geochemistry, about 10 km to the southwest. A substantial soil sampling program is ongoing and expected to be completed before the end of summer. Melkior’s news release dated August 27, reported a summary of the results of the first batch of submitted soil samples. The highest sample soil sample assayed 1,100 ppb gold in the A-Horizon (1.1 ppm Au or 1.1 g/t Au). This highly elevated gold in soil anomaly overlies the formational conductive trend and is about 8 kilometers southwest of the 2017 soil survey grid. It is noteworthy that this sample contained other elevated elements such as silver and copper. The remaining part of the soil chemistry results have been received and will be the focus of a news release in the immediate future. It is significant to note that the highest gold in soil result in this second batch of assays was 385 ppb Au, and located close to the 1,100 ppb Au sample and similarly overlying the formational conductor.
A gold rich, Bousquet Type, VMS deposit can only form in a suitable depositional environment, that environment would include extrusive mafic volcanic rocks in a subaqueous environment. Reconnaissance geology has identified what appears to be metamorphosed mafic flows, mafic tuff and chert. Mafic units are commonly observed in close proximity to the EM conductive trend in outcrop, subcrop and or large angular boulders.
A series of maps have been prepared to provide a visual collage of some of the rocks observed and their location with respect to EM anomalies, conductive zones and magnetics.
PRIMARY ANOMALY TREND AREA
PHOTOS OF BEDROCK
EM ANOMALIES, TOTAL MAGNETIC INTENSITY
POWER LINE MONITOR ANOMALY AREA
PHOTOS OF SUBCROP AND ANGULAR BOULDERS
MKR VTEM Z dB/dt Channel 10, Time Gate 0.055 ms
The Maseres VTEM survey was flown to provide a solid data foundation to the project. A geophysical expert has been engaged to interpret and provide modelling services. In conjunction with the geological information and soil geochemistry, this professional geophysical interpretation will provide guidance in selecting and prioritizing drill collar locations.
Jim Deluce, CEO of Melkior remarks, “Melkior continues to be encouraged by the results of our ongoing exploration efforts. I am looking forward to receiving the professional interpretation of the geophysical data and to start considering drilling options.”
Wade Kornik, P.Geo., has approved the information contained in this release. Mr. Kornik is the Exploration Manager of the Company and is Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
Keith James Deluce, CEO
For more information, please contact:
Melkior Resources Inc.
E-mail: [email protected]