Ottawa, Ontario, September 21, 2009 – Melkior Resources Inc. (“Melkior”) (TSX Venture: MKR) provides an update on the ongoing exploration activities on its 100% owned Carscallen Gold Project in West Timmins, Ontario. Results received from the 2152 metre July 2009 drill program continue to extend the mineralization both north and south. One deeper hole drilled CAR-18-2009 intersected two gold systems at a depth of almost 200 metres.
The Carscallen Gold Project consists of 102 unpatented mining claim units located in Carscallen and Denton townships in the Timmins-Porcupine mining camp for a total of 16.03 square kilometres. The property is adjacent to West Timmins Mining Inc. (WTM) and 5 kilometres west of the Lake Shore Gold Corporation (LSG) Timmins Mine. LSG and WTM joint venture property, Thunder Creek, is approximately 6 kilometres east of the Carscallen Gold project. On June 24th, 2009, LSG and WTM press release revealed that they had intersected 12.75 grams per tonne over 83.40 metres on the Thunder Creek property.
– Hole No. CAR-16-2009 intersected 56.0g/t over 0.9 metres and extends mineralization 180 metres south of previous drilling. Three distinct mineralized intersections were encountered at depths of less than 100 metres.
– Hole No. CAR-18-2009 intersected 25.3g/t over 0.6 metres and 15.65g/t over 0.6 metres. These are the first intersections encountered in the volcanics under the granite indicating that the volcanics can be mineralized.
– Hole No. CAR-19-2009 intersected 48g/t over 0.7 metres at a depth of 92 metres.
– Hole No. CAR-20-2009 intersected 3.16g/t over 3.70 metres including 10.15g/t over 1.0 metres.
– Hole No. CAR-1-2009 intersected 13.0g/t over 0.7 metres and intersected gold on a newly defined East-West structure.
– Hole No. CAR-17-2009 intersected 9.42g/t over 0.85 metres at a vertical depth of approximately 120 metres. It should be noted that silver values of up to 6.5g/t were associated with the gold intersections.
|Hole||Azimuth||From (metres)||To (metres)||Length (metres)||Gold g/t||Host Rock|
|CAR-1-2009||0||15.60||17.60||2.00||0.84||Quartz-pyrite veins in granite|
|CAR-1-2009||0||34.00||34.70||0.70||13.00||Quartz-pyrite veins in granite|
|CAR-17-2009||240||42.25||43.25||1.00||1.20||Alteration zone in granite|
|CAR-17-2009||240||106.80||107.40||0.60||1.05||Quartz veins in granite|
|CAR-17-2009||240||120.10||120.95||0.85||9.42||Pyrite and quartz vein in granite|
|CAR-14-2009||0||131.25||133.00||1.75||1.63||Quartz-pyrite vein in mafic volcanic|
|CAR-10-2009||0||62.00||63.00||1.00||1.31||Quartz-pyrite vein in granite|
|CAR-18-2009||245||181.80||182.40||0.60||15.65||Quart vein in mafic volcanic|
|CAR-18-2009||245||208.75||209.35||0.60||25.30||Mafic volcanic rock|
|CAR-19-2009||240||2.80||4.10||1.30||0.86||Silica alteration zone in granite|
|CAR-19-2009||240||36.75||39.20||2.45||0.46||Silica alteration zone in granite|
|CAR-19-2009||240||92.00||92.70||0.70||48.00||Quartz-pyrite vein in granite|
|Silica alteration zone in granite|
|CAR-20-2009||240||18.62||39.80||0.55||1.31||Quartz-pyrite vein in granite|
|Silica alteration zone in granite|
Pyrite-rich zone in granite
|CAR-15-2009||90||53.55||54.25||0.70||2.29||Silica alteration zone in granite|
|CAR-12-2009||0||111.30||112.30||1.00||4.86||Quartz veins in granite|
|CAR-16-2009||0||58.50||59.50||1.00||5.86||Quartz-pyrite vein in granite|
|CAR-16-2009||0||74.80||75.40||0.60||3.24||Quartz-pyrite vein in granite|
|CAR-16-2009||0||79.90||80.80||0.90||56.00||Pyrite vein in granite|
A map showing the drill holes locations is attached as an appendix to this press release.
Visible gold was observed in some holes, these are being repeat assayed using the metallic screening technique. Results will be reported when available.
Melkior is highly encouraged by the gold results to date which are similar to those of Lake Shore Gold Corporation’s shallow drilling which preceded the deeper discoveries at Thunder Creek. The next stage for Melkior will be to begin systematic deeper drilling on the Zam-Zam-Shenkman Zone and the 1010 Zone, and this work is scheduled to commence in early November 2009. In addition to the planned deeper drilling program, linecutting and geophysical surveys, namely magnetometer and induced polarization (IP) surveys are currently underway to extend the Zam-Zam-Shenkman Zone to the south of drill hole CAR-16-2009 and to extend the 1010 Zone south of recent drilling.
The two main purposes of the July drilling program were to test the north extension of the Zam-Zam zone with a series of 240 degree azimuth drill holes, and to evaluate an inferred East-West structure which appears to be related to the Zam-Zam zone approximately 75 metres north of previous drilling.
A total of 7541 metres have now been drilled in three programs. At least two significant gold zones have been identified. The Zam-Zam-Shenkman Zone is now been extended to 680 metres long and the 1010 Zone is 400 metres in length.
Each of the above zones are open along strike as well as to depth. Melkior considers the geological similarities to the significant gold discoveries in the nearby West Timmins Mining Inc. project to be very encouraging, and will pursue this mineralization model at Carscallen in future work programs.
Gold assays were performed at ALS CHEMEX Laboratories in Timmins, Ontario. The processed samples were submitted to a standard Fire Assay with AA technique (Au-AA-23) and Inductively Coupled Plasma Emission Spectroscopy (ME-ICP-41) on a 30 gram sub-sample.
This Press Release was prepared by Jens E. Hansen, P.Eng, President of Melkior Resources Inc. The drill program, core logging and sections selected for assays were done by Eric Hébert, PhD, P.Geo. Mr. Hébert is employed by the consulting company GeoVector Management Inc. Both individuals are Qualified Persons under National Instrument 43-101.
Melkior is a junior exploration company with active exploration projects in West Timmins and the Mc Faulds “Ring of Fire” areas of Ontario. Melkior also holds a 49% interest in the Delta Kenty nickel-copper-platinum-palladium deposit in Ungava.
For more information:
Jens E. Hansen, P. Eng., President
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.