OTTAWA, ONTARIO – Melkior Resources Inc. (“Melkior” or the “Company”) (TSX VENTURE: MKR) has begun mobilizing drill personnel to its 100% owned McFaulds East Rim property located in the Ring of Fire area, James Bay, Ontario. The initial program will commence with seven holes totalling 2000 metres. The McFaulds East Rim property consists of 1208 claim units covering 193.28 km2.
Orbit Drilling has been granted the contract to provide the drilling service and the drill program will be based out of the Billiken Management’s McFaulds Lake camp. Systematic assays will be taken for nickel, copper and PGE; the samples will be sent and processed at Actlabs in Geraldton, Ontario. Results are expected to be received by the end of the summer.
The McFaulds East Rim property was staked in 2008 covering a major gravity high, as shown in regional data (Ontario Geological Survey, 1999, Geophysical Data Sets 1035 and 1036). The regional gravity was further confirmed during the spring of 2011 using Fugro Airborne Surveys Airborne Gradient Gravity (AGG) survey. The survey was flown with a 200 metre line spacing hence improving the resolution of the anomaly.
The gravity high is interpreted to be a mafic or ultramafic intrusion. The interpreted intrusion is proximal to known nickel-copper sulphide mineralization in ultramafic rocks at Noront Resources Inc. Eagle Nest discovery. Mafic/ultramafic intrusions on the property, if present, would thus be expected to have significant potential to host magmatic nickel-copper sulphide mineralization
During April 2008, a 1738 line kilometre MEGATEM magnetic and electromagnetic survey was flown by Fugro Airborne Surveys. The survey delineated five areas which were then followed up by detailed VTEM airborne electrical and magnetic surveys in September 2008. 12 targets were interpreted and prioritized. Priority 1 targets were indicated by a magnetic association and limited strike length electrical conductivity response. Priority 2 targets were indicated by either a longer strike length electrical response, with possible formational and/or no magnetic association. During the summer of 2010 priority 1 and some priority 2 targets were followed up using surface electromagnetic surveys. The combined surveys, along with a 681 line kilometre AGG survey further confirmed the isolated nature of the highly conductive geophysical anomalies with coincident magnetic support.
This Press Release was prepared by Dr. Eric Hebert, P.Geo of Geovector Management Inc, and Jens E. Hansen, P.Eng, both Qualified Persons under National Instrument 43-101.
Melkior is a junior exploration company with active exploration projects in West Timmins and the McFaulds “Ring of Fire” areas of Ontario. Melkior also holds a 49% interest in the Delta Kenty nickel-copper-platinum-palladium deposit in Ungava and has several other gold properties in Ontario and Quebec.
For more information:
Melkior Resources Inc.
Tel: 613.721.2919 ext 0
E-mail: [email protected]
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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.