Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is pleased to announce that it has commenced it’s summer program at the Val-d’Or Property (the “Property”). Phase 1 will consist of a soil sampling survey that will cover its entirety and will start during July 2020.
The objective of the survey is to obtain local and regional targets from soil samples in till deposits at surface. The results will provide the presence and location of possible mineralization at surface. The Company is also currently investigating the possibility of performing an airborne magnetic survey to better define the structural features on the Property and to detect any magnetic anomalies that could be related to mineralization. The comparison between the magnetic signals and the till results will allow the Company to quickly figure out the possible source of the soil anomalies it may discover during this phase of work. Those targets will then be investigated by prospecting, trenching, or drilling.
Jonathon Deluce, CEO of Melkior, further comments: “Our Val D’Or Property is a great complementary project to our flagship asset at Carscallen. This summer work program will allow the Company to define further targets for surface mineralization that we will be able to follow-up on quickly and at a low cost. The Company is looking forward to commencing this program and accessing its results, which will be followed up with geophysics and subsequent trenching and drilling.”
Prime targets on the Property include:
– The western extension of the “Vein Zone” area owned by Sparton Resources Inc. and optioned to Eldorado Gold Corporation. In 2018-2019, a 2,000-meter drill program located mineralization along a 250-meter strike length and to a vertical depth of 125 meters. This is a new discovery on their property, and Melkior’s Property contains the western strike extension to that mineralization. In between the Property and the new discovery made by Sparton, 4 gold showings are related to the same geological features, with the Bruell deposit being located 240 meters from the Property. The same geological formations further extend on the Property.
– The northern area of the Property, where multiples gold showings are found and hosted in diorite with quartz veining.
A soil sample survey in till was selected as the most efficient method to explore the Property due to the presence of till on the property and also due to the approximatively perpendicular orientation between the structures found on the Property and the glacial drift direction which will provide optimal targets to test the Property. Additionally, the Company has mandated Inlandsis Consultants SENC to review the surficial deposits on the Property by way of a field visit to facilitate the interpretation of the results and the detailed planning of the soil survey to be completed in July 2020. Remi Charbonneau, PhD, P.Geo OGQ from Inlandsis Consultants visited the Property to characterize the quaternary cover better to optimize the survey and to ease the interpretation of the results. The presence of till at surface will allow a quick investigation of the Property’s surface mineralization. Following the soil survey work phase, a historic compilation will be performed to better interpret the results.
The Val-d’Or Property is located 35km east from Val d’Or and is accessible by a well-maintained dirt road as well as logging roads. The 120 claims cover approximately 6,333.04 hectares (63.33km2). The claims currently already have over $340,000 in exploration reserve credits and no restrictions on these claims.
Multiple gold and copper showings are present on and around the Property. The Property covers the Lac Poisson-Nord showing, which gave out 1.0g/t over 1.5 in a drill hole. The mineralization consisted of carbonate and quartz veins hosted in a silicified granodiorite. Multiple gold showings are located on the adjacent properties, in the same granodiorite unit.
The Geoffroy copper showing, located south of the western part, situated on the Globex Mining claims returned up to 9.90% Zn, 9.75% Cu and 98.4g/t Ag over 0.64m; 2.56% Cu, 0.11% Zn and 14.0g/t Ag over 0.91; and 3.56% Zn, 0.86% Cu and 8.6g/t Ag over 0.88m in three different holes. The mineralization is composed of sulfides horizon hosted in intermediate pyroclastic and mafic volcanic rocks of the Kinojevis Group. They are intersected by porphyric sills and dykes.
The other adjacent showings include those being worked by Sparton to the south. The mineralization shows lateral continuity over 250m in the drilling they have performed. Melkior’s claims cover volcanics rocks, the same geological formation that contains the quartz veins and shear zones that carry the mineralization in these showings. The historical mineshaft of the Bruel mine, owned by Sparton, is located 200m south of the Property’s limit. The new discovery by Sparton is found 600m east in the same direction. The mineralization seems to be associated with induced polarization, which would allow for a quick assessment of the Property potential. The regional magnetic anomalies associated with the gold mineralization also extend to the Property, further indicating that the volcanic unit is found on the Property.
This press release was prepared by Pierre-Alexandre Pelletier, P.Geo,OGQ, and Steven Lauzier, P.Geo, OGQ, both are qualified person as defined under National Instrument 43-101, and have reviewed and approved the geological information provided in this news release
ON BEHALF OF THE BOARD
Jonathon Deluce, CEO
For more information, please contact:
Melkior Resources Inc.
E-mail: [email protected]