Melkior - Hemlo Update

2018-03-07 / @thenewswire

(TheNewswire)

Timmins, Ontario / TheNewswire / March 7, 2018 - Melkior Resources Inc. (“Melkior”) is pleased to announce that the assays from the 2017 soil sampling program on the White Lake Project (Hemlo) have been received. The White Lake Project is comprised of 373 contiguous claim units (13,745 acres). The White Lake Project is located approximately 15 km northeast of the Hemlo Gold Mine currently operated by Barrick Gold Corporation.

Melkior undertook a soil sampling program over 4 square kilometers of the White Lake Project in 2017. The area sampled is centered on the Kakeeway claim group. These claims host a combination of NW-SE trending: mafic-felsic geologic contacts locally with gold bearing veins; gold in soil anomalies; IP chargeability anomalies; and VLF conductors. Soil samples were collected from the A-horizon, at 25 m spacings, and submitted for trace analysis (ALS method, AuME-TL43).

A NW-SE trend in the distribution of anomalous gold in soil, parallel to geological contacts, was anticipated. However, the distribution of anomalous gold in soil over the sample area is more complex.

Software based statistical evaluation of correlated elements was conducted using the Correlations Report of Geosoft product Target for ArcGIS Geochemical Analysis addon to Esri ArcMap. This report indicates that germanium is the only element with a significant correlation to gold within the soil dataset. A correlation was expected between gold and several other “normal pathfinder elements”, but no other associations are substantiated based strictly on the 2017 soil dataset. Significant reliance was placed on the gold-germanium association in the interpretation of the soil data.

The distribution of germanium in the A-horizon soil samples provides an unanticipated interpretation through the distinct and isolated nature of the anomalous areas. The anomalous germanium distribution can generally be described as two intersecting perpendicular linear anomalies.

The dominant germanium in soil anomaly is 2 km long, persistent across the entire width of the sample area, oriented NE-SW, perpendicular to volcanic contacts, and co-incident with a prominent topographical lineament. This dominant germanium in soil anomaly is locally co-incident with reported gold in soil anomalies in excess of 500 ppb that are located about 400 m from the edge of the sample area (Royal Oak Mines, AFRI 42C13SE0069). If this anomalous trend was consistent and continued to the northeast, the strike extension would continue through the Melkior claim group for about 5 kilometers. A review of airborne data in the public domain indicates that an argument could be made that there is a southwesterly extension of this potentially significant structure.

The secondary germanium in soil anomaly is also about 2 km long but less persistent across the width of the sample area, oriented NW-SE it parallels mafic-felsic geologic contacts and historic: gold in soil anomalies; IP chargeability anomalies; and VLF conductors. The anomalous trend is also locally co-incident with groups of EM conductors defined by historic airborne surveys.

The results of the soil geochemistry continue to be evaluated and will be used to help guide further exploration. Melkior’s goal is to advance the White Lake Project to the drill stage. The Kakeeway claim has an existing MNDM Exploration Permit in good standing that permits drilling.

Jim Deluce, CEO of Melkior has remarks, “The developing scenario for the White Lake Project is highly encouraging. The volcanic contacts on the Kakeeway claim have been established as hosting gold bearing quartz veins. We have gold and germanium soil anomalies over this geologic trend. The soil sampling data may indicate that the volcanic rocks are crosscut by an undocumented mineralized structure. It may be wishful thinking but ….. let’s hope that “X marks the spot!””.

Wade Kornik, P.Geo., has approved the information contained in this release. Mr. Kornik is the Exploration Manager of the Company and is Qualified Person as defined by 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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