OTTAWA, ONTARIO – Melkior Resources Inc. (TSXV – MKR) (“Melkior”) is pleased to report results from a May 2013 follow-up sampling program on its 100% owned Launay gold project in the Abitibi region of Quebec. The work has yielded important new and encouraging surface results. Recent modeling using all existing data including holes from the 2012 drill program has established the presence of two wide, parallel gold zones, Zone 75A and 75B. Zone 75B has not yet been adequately drilled above the 50 metre level and below the 100 metre level. The new grab sampling, which is located east of earlier channel sampling, shows that Zone 75B comes to surface. Eight grab samples from this location averaged 1.95 g/t gold (refer to Table 1). Overburden disturbance in the area suggests some sampling was undertaken in the 1980s or earlier. The 75B zone is open along strike and at depth. It now appears to be a distinct zone and has significant potential for expansion.
|Sample #||Zone||Easting (m)||Northing (m)||Au (g/t)|
|Grab-1||Zone 75 west||674299||5392039||0.131|
|Grab-2||Zone 75 west||674337||5392150||0.302|
|Grab-3||Zone 75 west||674337||5392151||0.049|
|Grab-5||Zone 75 west||674388||5392151||0.000|
|Grab-9||Zone 75-B New||674456||5392126||0.620|
|Grab-10||Zone 75-B New||674466||5392123||1.860|
|Grab-11||Zone 75-B New||674467||5392120||1.490|
|Grab-14||Zone 75-B New||674439||5392207||1.535|
|Grab-15||Zone 75-B New||674404||5392240||0.377|
|Grab-16||Zone 75-B New||674435||5392227||3.300|
|Grab-17||Zone 75-B New||674437||5392238||3.080|
|Grab-18||Zone 75-B New||674439||5392249||3.330|
|Grab-19||Zone 75 west||674302||5392263||0.234|
|Grab-20||Zone 75 west||674301||5392264||1.250|
|Grab-21||Zone 75 west||674363||5392279||0.045|
Table 1: May 2013 grab sample results.
Zones 75A and 75B are separated by approximately 30 to 50 metres of barren granite. Table 2 lists previously announced typical intersections on Zone 75A from recent and historical drilling.
|Hole #||From (m)||To (m)||Length (m)||Au (g/t)|
Table 2: Historical Assays from Zone 75A
Zone 75B was typically intersected by holes that started in Zone 75A and deeper down intersected what is now referred to as Zone 75B. Table 3 lists previously announced typical intersections on Zone 75B. The grades for Zone 75B are higher than those for 75A.
|Hole #||From (m)||To (m)||Length (m)||Au (g/t)|
Table 3: Historical Assays from Zone 75B
On the surface Zone 75B was sampled and assaying over 130 metres and is open both north and south (along strike). Several of the 2012 drill holes did not reach Zone 75B because they were too shallow (some only intersected Zone 75A). Until now, the second mineralized zone was only encountered below surface (see Table 3). The new grab samples taken on Zone 75 confirmed the presence of a distinct second mineralized zone, Zone 75B, which has been identified from surface to a depth of 100 metres. Below this depth there is no previous drilling information and 75B is therefore still open at depth. The gold values from the grab samples reflect similar values to the gold intersections from the reported drill intersections. Follow-up drilling of Zone 75-B will be required to define and expand this mineralized zone.
One grab sample was also taken west of Zone 75 and assayed 1.25 g/t gold. An IP anomaly is present in the vicinity of this sample and is located about 50 metres west of the Zone 75A exposures. This result is very encouraging because there are no previous drill holes, and samples were never taken to explore this area. This suggests the potential for a third mineralized zone west of Zones 75A and 75B. Follow-up will also be required on four Induced Polarization (“IP’) targets that have been identified. These could represent extensions of known zones as well as new mineralized units.
The new modeling completed in 2013 has increased the understanding of the geology and what controls the mineralized zones on the Launay gold project. What was thought to be fault related mineralization appears to be associated with several generations of granite with different degrees of alteration sources (alteration due to quartz-feldspar-porphyry dyke, quartz vein network, sheared/fractured zone). The possibility of more than one mineralized zone at Zone 75 is also very encouraging and will be tested in a future exploration campaign.
Historical work has identified gold occurring intermittently over a distance of approximately 3 kilometres with concentrations at Zone 75 and the Principal Zone. To date there has been no deep drilling.
All surface samples were submitted to ALS Chemex Laboratories in Val-D’or, Quebec, for assaying. The processed samples were submitted to a standard fire assay with AA technique (Au-AA-23). Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. For samples returning greater than 10 g/t gold, follow-up analysis using fire assay with a gravimetric finish is completed.
This press release was prepared by Dr. Eric Hebert, PGeo, of GeoVector Management Inc., Qualified Person under National Instrument 43-101. Dr. Hebert designed and supervised the sampling program and reviewed the quality control information.
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 important claim groups in the Beardmore Long-Lac gold camps.
For more information:
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.