Ottawa, Ontario, October 9, 2009 – Melkior Resources Inc. (“Melkior”) (TSX Venture: MKR) prime exploration focus is the 100% owned Carscallen Gold project in the active West Timmins mining camp where the major budget and technical efforts are being focussed over the coming months. During the summer of 2009, some work was conducted on most of the secondary projects. This work is summarized below.
Launay Gold Project, Quebec (100% owned):
Melkior added to its land position in February 2009 (See press release February 26th, 2009) and now holds 169 claims or 75.6 square kilometres. The property is located 80 kilometres north west of Val-D’Or, Quebec. Previous work has identified two gold zones with large tonnage low grade potential. Historical assays from drill holes include 6.92g/t gold over 12.8 metres and 9.10g/t gold over 7.0 metres.
The 2009 program was designed to verify gold at the Zone 75, follow the geological trend onto the new claims and sample the trend.
Grab samples taken on Zone 75 yielded 13.75g/t, 5.06g/t and 3.08g/t gold thereby supporting earlier drill results. On the new claims, which are approximately 4 kilometres to the north of Zone 75, several anomalous gold in grab samples including 1.415g/t and 1.28g/t with anomalous silver values of up to 19.15g/t were discovered.
Shaw Gold Project, Timmins Area, Ontario (100% owned):
A three day reconnaissance program was undertaken on the newly staked Shaw property The property consists of 78 unpatented claims covering 12.5 km², located in the Timmins district of Ontario, approximately 13 kilometers south-east of the city of Timmins, in an area actively being explored by others.
The objectives of the field work were to determine the best access to the property and to sample known outcrops in the northern part. Three old exploration pits and a number of old trenches were located and sampled. 40 samples were collected. The best assay obtained, was from material hosted in an ankeritized magnetic basalt and graded 2.7 g/t Silver. A second sample returned assays of 1.3% Zinc and 0.6% Lead 236 ppb Au in a pyrite rich basalt.
Outcrop is very limited representing only about one percent of the property.
Beardmore Gold Project, Ontario (100% owned):
The Beardmore property is located in northern Ontario, approximately 20 km east of the town of Longlac. It consists of 203 unpatented claims, covering 32.5 km². In early 2008 an airborne AeroTEM survey was flown and in the summer of 2008 a small program of prospecting over selected anomalies was undertaken.
In August 2009, a 10 day mapping and prospecting campaign was carried out over the anomalous sector identified in 2008. 134 rock samples were collected, highlighting two interesting areas. The first area, followed for 20 meters, returned gold values of 3.43 g/t and 2.37 g/t. The gold is hosted in a silicified amphibolite and is associated with high values of arsenic. The second area returned values of 1.47 g/t; 1.15 g/t gold and 4.09 g/t silver in a gold bearing iron formation injected with quartz veins.
All gold deposits, in the Beardmore-Geraldton gold camp, are associated with high contents of arsenopyrite (H.S. Armstrong, 1943). More prospecting and sampling, in association with ground geophysics will permit a better understanding of the economic potential of the discoveries.
Delta-Kenty Ungava Nickel Project, Quebec:
Melkior owns 49% of this project with Xstrata Nickel (formally Falconbridge Ltd) holding 51%. In 1999, Falconbridge Ltd reported a resource of 817,000 tonnes 3.05% nickel, 1.26% copper and 2.65g/t platinum-palladium. This is none 43-101 compliant and has not been verified by a qualified geologist. A 2004 drill hole on a new target intersected 99.77 metres 0.64% nickel and 0.26% copper. This has not been followed up.
Melkior has engaged a geologist experienced with Ungava nickel deposits to evaluate two recent airborne surveys and the previous drilling.
Following receipt of the consultants report, if positive, Melkior plans to present a new exploration program to Xstrata Nickel.
Loveland Gold Base Metal Project, Timmins Area, Ontario (100% owned):
An airborne magnetic-electromagnetic VTEM survey has been completed on this property located in Loveland Township, approximately 35 kilometres northwest of Timmins. Five targets meriting follow-up for gold and copper-zinc have been identified by the airborne survey. The property adjoins Amador Gold Corp. which has a copper-zinc discovery a short distance from the Melkior boundary.
Drilling is warranted on at least two airborne anomalies.
Fripp Gold Project, Timmins Area, Ontario (100% owned):
The Fripp property is located 25 kilometres south southwest of the City of Timmins. A ground magnetometer survey has recently been completed over the property and has identified one target which will be followed up by prospecting.
McFaulds East Rim Nickel Project, McFaulds area, Ontario (100% owned):
Current activity by Noront Resources Ltd. and Freewest Resources Canada Inc. is focusing attention on the McFaulds Ring of Fire area.
Melkior has completed MEGATEM and VTEM airborne surveys. A series of potential massive sulphide targets have been located. These are essentially drill ready. At present however, Melkior plans to concentrate its drilling on the Carscallen Gold Project in the Timmins area.
The East Rim Nickel Project is 100% owned by Melkior and is located approximately 25 kilometres from the chromite discoveries by Noront and Freewest, and 30 kilometres from the base metal discovery by Noront. The property is 238 square kilometers in size.
Gold assays for Launay, Shaw and Beadmore were performed at ALS CHEMEX Laboratories in Val-D’Or, Quebec and 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.
Melkior would like to inform shareholders that Mr. Michel Blouin has resigned as Corporate Secretary for Melkior. Mr. Blouin has provided valuable service to the Company for many years. Melkior is pleased to welcome Ms. Ingrid Martin as Corporate Secretary. Ms. Martin is presently CFO of the Company and will continue in that role.
This Press Release was prepared by Jens E. Hansen, P.Eng, President of Melkior, Qualified Person under National Instrument 43-101 with assistance from company staff.
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 and has several other gold properties in Ontario and Quebec.
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.