Ottawa, Ontario. Melkior Resources Inc. (“Melkior”) (TSX.V: “MKR”; OTCPK: “MKRIF”; FSE: “MEK”) is pleased to report the latest results from a channel sampling program on the Wire Gold showing located approximately 500 metres east of the Shenkman/Zam Zam gold zones in Carscallen Township 25 kilometres west of Timmins Ontario. The Wire Gold occurrence was known for producing spectacular samples of visible gold and consists of an oxide facies iron formation trending north south hosted within mafic metavocanics that are, in turn, crosscut by east-west trending quartz-carbonate in filled tension gashes.
Channel sampling on the north portion of the exposure produced 11.4 g/t Au (gold), 4.4 g/t Ag (silver) over 1.0 metre, 9.93 g/t Au, 3.7 g/t Ag over 0.5 metres and 3.37 g/t Au, 1.8 g/t Ag over 1.0 metre or 7.98 g/t Au, 2.87 g/t Ag over 2.5 metres. The samples occurred within what is described as a brecciated transitional zone along the contact between the mafic volcanics and banded iron formation with late cross-cutting quartz-carbonate infilled tension gashes and coarse grained pyrite.
On a separate location approximately 30 meters southeast of these channel samples, another sample returned 10.3 g/t Au over 1.0 meter ( reported in Oct 21, 2014 press release) and occurred within east-west trending quartz-carbonate infilled tension gashes crosscutting the contact between the mafic metavolcanics and banded iron formation. It has been suggested that these transitional breccia zones along the contacts may represent feeder zones with sulphide rich matrices and late crosscutting quartz carbonate tension gashes acting as repositories for hydrothermal gold bearing fluids.
Melkior plans to drill under the two separate locations that may represent these sulphidized feeder breccia zones within the next two weeks. This will be the first time Melkior has drilled under the Wire Gold showing. Overburden is typically quite shallow which facilitates exploration at Carscallen. Based upon the similarities in gold mineralization settings with the nearby Shenkman/Zam Zam gold zones, it has been hypothesized that there may be a common feeder system to these gold zones.
The channel samples were cut and delivered to a commercial laboratory. Samples were submitted to Actlabs Laboratories in Timmins, Ontario. The processed samples were subjected to a standard fire assay with AA technique on a 30-gram sample. On each tray of 42 samples there are two blanks, three sample duplicates and 2 certified reference materials.
The contents of this press release have been reviewed by Peter Caldbick, P.Geo, the Timmins area Project Manager for Melkior Resources Inc. and a Qualified Person as defined by National Instrument 43-101.
Melkior is a mineral exploration company with active gold exploration projects in West Timmins, Ontario and Launay, Quebec.
For more information:
Jens E. Hansen, President and CEO
Melkior Resources Inc.
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.