Melkior Announces Mise-a-la-Masse Results and Drilling Plans at Carscallen

Melkior Resources Inc. (“Melkior”) (TSXV:MKR) is pleased to announce the results of the down hole mise-a-la-masse survey which was completed on drill holes CAR-19-03A and CAR-80-2012 in early January 2020. The survey appears to have been successful in outlining a conductive source approximately 170 meters southwest of the collar coordinates of drill hole CAR-19-03A. Dramatic current flow spikes downhole in both drill holes were used as injection points and revealed currents flowing southwestward to what appears to be a significant conductive source. Based upon the strength of conductivity of this zone, it is postulated that this may represent the source of copper in the recent drilling and would therefore, merit an investigative drill hole planned to a depth of 600 meters.

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In follow-up to the encouraging mise-a-la-masse survey, Melkior is commencing the contract tendering process for an 1800-meter drill program. The first phase of the proposed drill program will focus on following up on drill hole CAR-19-03A, which intersected 23.5 g/t Au over 8.0 meters from 426.0 to 434.0 meters. This intercept is interpreted to be approximately 150 meters downdip of an earlier intercept in CAR-61-2012 which assayed 4.34 g/t Au over 13.0 meters from 272.0 to 285.30 meters. The proposed drill hole will be drilled midway between these two intercepts in order to validate the current interpretation. The drill hole is further designed to investigate a copper intercept within the underlying mafic volcanics which was intersected in hole CAR-79-2012 and assayed 3.5% copper over 1.35 meters from 528.0 to 529.35 meters.

A second drill hole is proposed to expand on the strike extent of the gold bearing system with a drill hole collared 25 meters northwest of CAR-19-03A and 35 meters northeast of drill hole CAR-71-2011 which intersected four disparate gold bearing vein systems including 97.3 g/t Au over 0.5 meters from 254.0 to 254.5 meters and 4.1 g/t Au over 4.55 meters from 262.7 to 267.25 meters. The proposed drill hole is designed to intersect these auriferous zones approximately 160 meters downdip as well as to confirm strike continuity to the intercept in CAR-19-03A.

The third drill hole will be located to drill into the identified target to the southwest. As copper has been encountered both in recent drilling in drill hole CAR-19-03A (.036% copper over 81 meters from 432 to 513 meters, see December 4, 2019 press release) and CAR-79-2012, it is suggested that these intercepts may emanate from the conductive zone to the southwest. The collar will also be located approximately 50 meters southeast of drill hole CAR-69-2011which intersected 16.1 g/t Au over 1.65 meters from 508.45 to 510.10 meters within the mafic volcanics below the granodiorite. Any auriferous vein systems encountered in this proposed hole could also effectively increase the strike extent of the gold system by approximately 100 meters to the southeast of the previous drill campaign.

Qualified Person

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


Keith James Deluce, CEO

For more information, please contact:

Melkior Resources Inc.

E-mail: [email protected]

Tel: 705-267-4000