Melkior Announces Follow-Up Drilling on the Bonanza Gold Intersection at 1010 Zone with 77.40 g/t gold over 6.90 meters at the Carscallen Gold Property

Melkior Announces Follow-Up Drilling on the Bonanza Gold Intersection at 1010 Zone with 77.40 g/t gold over 6.90 meters at the Carscallen Gold Property  

Timmins, Ontario – Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is pleased to announce an upcoming follow-up exploration drill program at the Carscallen Gold Property in Timmins. The 6-hole drill program has been designed with a total of approximately 1,725 meters to focus on expanding the strike and down-dip continuities of the NNW-SSE trend, 1010 Zone structural corridor, which includes testing new gold opportunities at the Northwest Prospect, all located about 25 kilometres west of the City of Timmins.  

Exploration Program Highlights  

• Follow-up drilling on the discovery of a significant bonanza gold intercept extending the 1010 zone at depth, from hole MKR-24-002, which intersected 77.4 g/t gold over 6.90 meters, including 445 g/t gold over 1.20 meters at the 1010 South (Table 1, Figures 2-5). 

• Maiden exploration drilling at the Northwest Prospect, an unexplored area 500m north of 1010 gold showings, which has the same geophysical magnetics and IP chargeability / resistivity signatures as gold mineralised zones at Carscallen Property.  

• Drill holes are also being designed to follow up and expand the Zam Zam and Shenkman Zones, which together represent a combined strike length of over 800 metres. These zones have returned several notable historical intercepts, including: 

• CAR-19-03A: 23.5 g/t Au over 8 meters 

• CAR-20-05 : 25.7g/t Au over 6 meters 

• CAR-71-2011 : 5.1 g/t Au over 13.25 meters 

• The drill permit application for the proposed drilling was filed with the Ontario Government and is waiting for approval.  

Company Director, Keith James Deluce stated: “Following the excellent results from the recently completed drill campaign at Carscallen Property, the company is excited to announce follow-up targets at 1010 Zone. The 1010 structural-mineralised corridor, which includes the Northwest Prospect area, has the potential to extend over 1,500 m in length, like the Zamzam-Jowsey-Shenkman Zone. This is an exciting exploration target not only to test high-grade ore shoots at depth but also to probe a potential new zone that is largely untested by drilling”. 

The 1010 Gold Zone 

The 1010 gold zone consists of multiple zones of anastomosing, shear-hosted, quartz-sulphide veins, which are locally enveloped by silica-albite-sericite altered stockwork breccia mineralisation on the surface. The gold zones are often steep dipping (> 75 degrees) and exhibit pinch and swell attitude, reaching over 500m in length in a northerly direction. The gold mineralisation with excellent gold grades has coincident strong alteration, structure-controlled magnetic zones that overlap with IP chargeability and resistivity. These typical geophysical responses are common in most of the gold showings at the Carscallen Property. 

In a north-south longitudinal section, the mineralisation at 1010 Gold Zone appears to be folded, where the 1010N is plunging to the north while the 1010S has a low southerly plunge. Resent surface exploration work is focused on testing new gold opportunities along strike and expanding the well-developed gold-bearing mineralization outside the main Zamzam-Jowsey-Shenkman Zones, with additional high-grade ore shoots along series of repeating gold mineralized shears like the 1010 Zone.   

Northwest Zone 

The Northwest Zone is an unexplored area about 500 meters north of 1010 gold showings, characterized by overlapping clusters of gold-in-soil anomaly, mod-high magnetics, and coincident moderate IP chargeability and resistivity. 

Two (2) shallow drillholes MKR-25 (05 – 06) at about 250m deep was planned to test the gold mineralization potential in the area. 

Figure 1: Overview of the Carscallen Gold Property near Timmins-Ontario. 

Figure 2: Carscallen Drill Hole Map overlaid on Lidar Topography Image, highlighting known mineralized zones from past drilling. The yellow box represents the priority area for exploration drilling. 

Figure 3: 3D Section showing the proposed drillhole trace in relation to gold veins and 3D-modelled gold grade isograd (1.0 to 3,0 gpt Au) at the Carscallen Property. 

Figure 4: Drill Cross Section highlighting the proposed drillhole in relation to recent drill intercepts from hole MKR-24-002 relative to historical drilling at the 1010 Gold Zone.

Figure 5: Proposed Drill holes on IP Chargeability Map, which shows mineralised zones and gold assay distribution from historic drilling. 

 Table 1:  Proposed Drill Collar Summary at Northwest Prospect and 1010 South Gold Zone.  

Qualified Person 

All technical information in this press release has been reviewed and approved by Martin Ethier, P.Geo. Mr. Ethier is a consultant for Melkior and a Qualified Person for the purposes of National Instrument 43-101. 

About Melkior Resources 

Melkior Resources Inc. is an exploration-stage resource company operating in world-class mining jurisdictions across Quebec and Ontario. The company is dedicated to advancing a portfolio of high-potential mineral properties with a primary focus on gold exploration. 

Melkior’s flagship projects include the Carscallen Project, the Beschefer East Project, the Genex Project and the Val-d’Or Project. These projects are strategically located in the Abitibi Greenstone Belt, known for hosting significant gold and base metal deposits. 

ON BEHALF OF THE BOARD 

Keith James Deluce, Director  

For more information, please contact: 

Melkior Resources Inc. 

E-mail: [email protected]  

Tel: 226-271-5170 

The reader is invited to visit Melkior’s web site www.melkior.com. 

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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.