Melkior Resources Inc. (“Melkior “) (TSXV:MKR) is pleased to announce a new gold showing on the Carscallen Project, Timmins Ontario. Assay results have returned 3.9 g/t gold from a new showing located approximately 300m north of Highway 101 (NAD83 Zone 17 UTM 449688 E, 5355050 N). This new showing is located approximately 2.0 kilometers west of the Behemoth Zone and a gold bearing vein hosted within a north -south structure identified in drill holes CAR-17-13 (21.80 g/t gold over 1.6m), CAR-17-14 (31.65 g/t gold over 1.6m) and CAR-17-16 (17.50 g/t gold over 0.30m).
Melkior is aggressively advancing the Maseres Project and consequently the Carscallen Project has not received very much attention this summer. The limited field work was focused on following up on LIDAR data that suggested the potential for undocumented historic trenches. At one of these locations a historic trench was verified and samples from the waste rock adjacent to the trench yielded maximum assays of 3.9 g/t gold, 8.9 g/t silver , 226 ppm lead, 915 ppm zinc, 23 ppm bismuth and > 10,000ppm Arsenic.
Evaluated in isolation the showing is of limited interest, however there are several aspects that merit discussion. The historic trench is located within mafic volcanics in very close proximity to the boundary between the “granitic intrusive” and mafic volcanics. Locally the contact between the granitic intrusive and the mafic volcanic host is exposed. The showing is a gold bearing quartz quartz vein hosted within a north-south trending structure within mafic volcanic host. This setting is consistent with Melkiors hypothesis that mineralization has been directed from the Porcupine Destor Fault through north-south hydraulic conduits into the Carleton Pluton. Of additional significant interest is that this showing is also in very close proximity where chert was observed within the mafic volcanic sequence. Some of the more recent geological maps do not include iron formation at this location however a review of historical geological reports document iron formation in this area.
The intersection of the north-south structure that hosts the gold bearing vein and any iron formation units are a good shallow drill targets. The presence of iron formation in such close proximity to the intrusive contact in close proximity to the surface is itself a potential drill target. Additionally, where the gold bearing quartz vein is expected to cross the significant competency contrast at the granitic contact at shallow depth is a potential drill target.
The surficial exposure of the Carleton Pluton at this location suggests that either that the depth to the mafic volcanic contact at the southern portion of the Behemoth Zone located less than 2 km to the east, should be significantly shallower in the vicinity of Highway 101 or that there could be a significant fault between the Behemoth Zone and the location of this new showing.
Jim Deluce, CEO of Melkior remarks, “Melkior continues to hold the Cascallen Project in highest regard and we hope to refocus exploration efforts on Carscallen in 2019. ”
Wade Kornik, P.Geo., has approved the information contained in this release. Mr. Kornik is the Exploration Manager of the Company and is a 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]