Melkior Resources Inc. (TSX-V – MKR) has acquired 33 claims, 1361 hectares in the Ungava nickel, copper platinum group belt of northern Quebec by map staking. The claims are located 25 kilometres east of Melkior’s 49% owned Kenty Lake property. The staked claims cover geology that is similar to Kenty Lake (Delta) and which consists of a series of mafic to ultramafic bodies intruding the Povugnituk Group of metavolcanic and metasedimentary rocks.
Falconbridge Limited reported a Kenty Lake resource of 817,500 Tonnes 3.05% Ni, 1.26% Cu, 2.65 PGE in their 1999 annual report. This calculation is not 43-101 compliant and a QP has not reviewed the data. In 2004, Falconbridge-Melkior tested a new target west of the deposit which encountered 99.77 metres 0.64% Nickel, 0.26% Copper. This and other targets have not been followed up nor has there been deep drilling at the reported mineralized zones.
The Raglan belt is of world class importance and is one of the most important nickel and PGE producing areas in Canada with two major companies actively mining and expanding their operations.
Melkior plans to structure an exploration program for the Kenty Lake property which will include the new claims and the general area. An increased exposure to highly prospective ground will enhance the effectiveness of this work. A specific timetable will be presented after defining the Kenty Lake exploration program. Melkior anticipates that the nickel minerals at Kenty Lake will eventually form an important source of ore for a nearby mill.
For a map, please refer to the Melkior website: www.melkior.com
About Melkior:
Melkior is a junior exploration company with active exploration projects in West Timmins and holds several other exploration properties of which the most important is the 100% owned Launay gold property in West Quebec. Melkior also holds two claim groups in the Long-Lac gold camp as well as 49% of the Delta Kenty nickel-copper deposit in Ungava.
For more information:
Melkior Resources Inc.
Tel: 613.721.2919
Fax: 613.680.1091
E-mail: [email protected]
Web: www.melkior.com
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.