Melkior Fall 2019 Exploration Program

2019-08-27 / @thenewswire

(TheNewswire)

August 27, 2019 – TheNewswire - Timmins, Ontario - Melkior Resources Inc. (“Melkior”) (TSXV:MKR) is pleased to announce fall 2019 exploration plan is to advance the Carscallen Project with a drill campaign on the Shenkman, Zam Zam and Jowsey zones and a drill program on the White Lake Narrows (Hemlo) property. The Carscallen property possesses three gold bearing systems known as the Shenkman, Zam Zam /Jowsey zones that are separated by approximately 360 meters that has not been adequately drill tested and thus represents an opportunity for zone expansion and testing if the auriferous vein systems are continuous and represent one larger system. The first phase of drilling will follow up on historical intercepts of 3.33 g/t Au over 4.5 meters in drillhole CAR-45-2010 within the Zam Zam zone and 14.21 g/t Au over 2.9 meters in drillhole WKD-07-6B within the Shenkman zone. The holes will validate earlier interpretive work and are designed to target several stacked en echelon vein systems.

This initial drill phase will also follow up on earlier intercepts within the mafic volcanics which underly approximately 200 to 300 meters of the Carsallen granodiorite. Here, gold grades and widths may improve significantly as indicated by earlier drill hole CAR-80-2012 which intersected 51.9 g/t Au over 3.7 meters from 533.0 to 536.7 meters within the mafic volcanics (Table 1). A deeper drill hole will be planned as follow up on this intercept to validate continuity of the deeper lying gold system. Positive drill results may allow for a resource estimate by an independent external consulting group to determine the economic potential of all zones drilled to date in the Carscallen project.

The second property of importance is the White Lake Narrows (Hemlo) Property located approximately 22 km east of the Hemlo deposits. The White Lake Narrows property is comprised of a series of northwest southeast trending quartz veins occurring within sheared altered and sulphidized zones hosted within fine to coarse grained mafic volcanics and felsic volcanic rocks. A number of showings, stripped areas and trenches have been exposed over a 1 km strike length and the area has had an extensive humus and partial “B” horizon soil geochemical survey on the southwestern portion of the property. The most significant stripped exposure to date, known as the Carroll MacDougall showing, consists of a typical lode gold vein system hosted in a shear zone within altered mafic volcanics. The highest grab sample taken on the exposure by the resident OGS geologist in 1994 returned an assay of 1168 g/t Au. Southeast of the Carroll MacDougall there are three additional showings referred to as the stripped area C, trench area D and Green Mica Area. A recommendation to drill the Carroll MacDougall showing, the stripped area C and the Green Mica area have been proposed as Melkior believes these target areas to be “drill ready” based upon the available data.

The programs will be implemented by Mr. Peter Caldbick who has recently joined the Melkior team as a consulting geologist. Mr. Caldbick has been active in exploration and mining for the past 36 years throughout Northern Ontario, Quebec, Newfoundland and the Northwest Territories in the positions of VP Exploration, mine geologist, and technical consultant. Mr. Caldbick’s career has included VP of Exploration for Golden Chalice Resources, VP of Exploration for Liberty Mines Inc., and Chief Geologist for SGX Resources. He was directly responsible for building and managing the exploration teams that led to the discovery of Golden Chalice Resources' Langmuir W4 Nickel deposit, Amador Gold Corp's Loveland nickel-copper discovery and Liberty Mine’s Hart East nickel deposit. Mr. Caldbick has also consulted in the past for Melkior Resources and is familiar with the Carscallen project. More recently, Mr. Caldbick has consulted for BonTerra Resources Inc., Golden Peak Minerals Inc., Pacton Gold Inc. and Gatling Exploration Inc. He currently sits on the board of directors for Pacton Gold Inc.

Jim Deluce, CEO of Melkior remarks, “We are glad to have Peter on the Melkior team as he brings the expertise required to capitalize on Melkior’s assets in this improving gold market. We look forward to keeping investors informed of the fall program developments.”

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Table 1 showing Carscallen Drill Intercepts Within Mafic Volcanics

Qualified Person

All technical information in this press release has been reviewed and approved by Peter Caldbick, P.Geo. Mr. Caldbick is a consultant for Melkior and a Qualified Person for the purposes of National Instrument 43-101.

ON BEHALF OF THE BOARD

Keith James Deluce, CEO

For more information, please contact:

Melkior Resources Inc.

E-mail: info@melkior.com

Tel: 705-267-4000

The reader is invited to visit Melkior's web site www.melkior.com.

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