Ottawa, Ontario. Melkior Resources Inc.(TSX.V – MKR) (“Melkior”) Melkior is pleased to announce that drilling has commenced on its Launay gold project in the Abitibi Greenstone Belt in Quebec. On November 7th, 2013 Melkior entered into an option agreement with Beaufield Resources Inc. (“Beaufield”) whereby Beaufield can earn 10% of the Launay Gold Project by spending $250,000 on exploration within the first year of signing the option agreement (refer to November 7th, 2013, press release.) The current drill program is being funded by Beaufield and operated by Melkior.
The program will concentrate on Zone 75 where previous drill holes collared in gold mineralization intersected 1.83 g/t gold over 46.35 metres (hole LAY-08-2012) and 1.20 g/t gold over 21.09 metres (hole ML-87-87) (refer to press releases May 24th, 2013 and August 30th, 2012.) Approximately 10 holes totaling 1250 metres will be drilled; 9 holes to define Zone 75 and one hole to test an Induced Polarization anomaly.
Melkior has compiled and accurately positioned all historical drilling as well as surface work. The 9 definition holes of this program are based on the 2012 and historical drill data. Based on the drilling Melkior and Beaufield will mutually determine if the information is adequate to prepare a resource calculation.
This news release was prepared by Jens Hansen, Eng., President and CEO of Melkior Resources Inc.
Melkior is a junior exploration company with active exploration projects in West Timmins and holds several other exploration properties.
For more information:
Jens E. Hansen, President and CEO
Melkior Resources Inc.
E-mail: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.