Melkior Intersects 25.7 g/t Gold (0.91 oz/ton) over 6.0 Meters, Including 102 g/t (3.6 oz/ton) Gold over 1.5 Meters. 8.7% Copper and 33.9 g/t Silver over 0.5 Meters at Carscallen

2020-05-07 / @thenewswire

(TheNewswire)

Timmins, Ontario – TheNewswire - May 7, 2020 - Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is pleased to announce results from the first two drill holes on the Carscallen Gold project located approximately 25 kilometers west of Timmins Ontario. Both holes were drilled to depths of 600 meters with the first drill hole drilled between CAR-61-2010 which intersected 4.85 g/t Au over 13.3 meters from 272.0 to 285.30 meters and CAR-19-03A which intersected 23.5 g/t Au over 8.0 meters from 426.0 to 434.0 meters (November 28, 2019 press release). The second drill hole was collared 25 meters west of drill hole CAR-19-03A to commence drill testing the strike extent of the gold system encountered in CAR-19-03A.

Highlights:

- The Carscallen gold project lies within the township of Carscallen, approximately 25 kilometers southwest of the town of Timmins, Ontario. It is comprised of 295 claim units covering 47 square kilometers with 100% ownership by Melkior.

- The drill program consisted of 1,950 meters with the first two drill holes drilled to depths of 600 meters, and the third drill hole extended from 600 to 750 meters.

- Assay results have been returned for the first two drill holes and are pending for the third drill hole with visual indications of mineralization.

- CAR-20-05 intersected 25.7 g/t Au over 6.0 meters from 357.0 to 363.0 meters, including 205 g/t Au over 0.7 meters from 360.50 to 361.20 meters within mafic metavolcanics approximately 35 meters below the granodiorite contact and 350 meters vertically below surface.

- Drill hole CAR-20-05 has helped to confirm the current interpretation of a significant gold-bearing epigenetic system (minerals forming later than the rocks enclosing it) that continues below the granodiorite and into the mafic metavolcanics rocks below as further verified by an earlier intercept of 51.9 g/t Au over 3.7 meters from 533 to 536.7 meters in CAR-80-2012.

- CAR-20-04 intersected 4.2 g/t Au over 4.0 meters from 334.0 to 338.0 meters including 15.8 g/t Au over 1.0 meter from 337.0 to 338.0 meters. This intercept occurred approximately 100 meters up-dip of the intersection in CAR-19-03A and approximately 60 meters downdip of the intersection in CAR-61-2010. The intercept occurred within the granodiorite approximately 325 meters vertically below surface and further validates the interpretation.

- Drill hole CAR-20-04 further intersected .103% Copper over 18.5 meters from 472.5 to 491.0 meters plus 8.7% copper and 33.9 g/t silver over 0.5 meters from 545.0 to 545.50 meters

- Drill hole CAR-20-05 intersected .30% copper over 1.5 meters from 512.50 to 514.0 meters

- The ubiquitous presence of copper in the underlying mafic metavolcanics suggest that this may represent a copper feeder system vectoring to a VMS (volcanogenic massive sulphide) environment

- Exsics Exploration Inc has probed CAR-20-06 utilizing the mise-a-la-masse geophysical system (MALM), which utilizes the conductive mass in the drill hole as one of the current electrodes to aid in determining the geometry and strike extent of the conductive mass. Three significant highly conductive lenses or injection points have been determined by the survey, which is ongoing.

RESULTS FROM 2020 DRILL HOLES

--------------------------------------------------------------- |Hole ID |From (m)|To (m)|Length (m)|Au (g/t)|Cu (%)|Ag (g/t)| |-------------------------------------------------------------| | | | | | | | | |-------------------------------------------------------------| |CAR-20-04|334 |338 |4.0 |4.2 | | | |-------------------------------------------------------------| |Including|336 |338 |2.0 |8.05 | | | |-------------------------------------------------------------| |And |337 |338 |1.0 |15.8 | | | |-------------------------------------------------------------| | |472.5 |491.0 |18.5 | |.103 | | |-------------------------------------------------------------| | |545 |545.5 |0.5 | |8.7 |33.9 | |-------------------------------------------------------------| |CAR-20-05|357 |363 |6.0 |25.7 | | | |-------------------------------------------------------------| |Including|360.5 |362 |1.5 |102.0 | | | |-------------------------------------------------------------| |And |360.5 |361.2 |0.7 |205.0 | | | |-------------------------------------------------------------| | |512.5 |519.0 |6.5 |1.35 | | | |-------------------------------------------------------------| | | | | | | | | |-------------------------------------------------------------| | | | | | | | | ---------------------------------------------------------------

* Stated lengths are core lengths as drilled. True widths are estimated to be 80% of reported core length intervals.

In 2012, Dr. Eric Hebert, P.h.D, P.Geo of GeoVector Management Inc., intersected 3.55% Copper over 1.35 meters from 528.0 to 529.35 meters in CAR-79-2012 (March 26, 2012 press release) consisting of “stringers of copper sulphide mineralization within a chlorite-rich alteration zone.” Dr. Hebert went on to note, “the texture of sulphides and chloritic alteration suggest a VMS origin (volcanogenic massive sulphides) that may be consistent with a possible stringer zone of copper-rich VMS intersected” (March 26, 2012).

Jonathon Deluce, CEO of Melkior, remarks, “First off, we want to thank the long-time support of our loyal shareholders and hope everyone is staying safe during these uncertain times. We are very excited about these developments at our Carscallen project. We believe the potential of the system we are uncovering is significant and could bring increased attention to our project in the West Timmins Camp. We look forward to providing the results from CAR-20-06 and the Mise-a-la-Masse survey shortly.”

----------------------------------------------------------- |Hole ID |Easting UTM|Northing UTM|Length (m)|DIP|Azimuth| |---------------------------------------------------------| |CAR-20-04|451927 |5358046 |600.0 |-78|240 | |---------------------------------------------------------| |CAR-20-05| 451957 | 5358091 | |-76|240 | | | | | 600.0 | | | |---------------------------------------------------------| |CAR-20-06| 451957 | 5357827 | |-65|240 | | | | | 750.0 | | | -----------------------------------------------------------

Click Image To View Full Size

Figure 1 Semi-massive bornite and chalcopyrite in CAR-20-04 at 545 meters

8.7% copper and 33.9 g/t silver over 0.5 meters from 545.0 to 545.50 meters

** The photos are of selected intervals and are not necessarily indicative of the mineralization hosted on the property

Click Image To View Full Size

Figure 2 Coarse visible gold at 360.83 meters in CAR-20-05

205.0 g/t Au over 0.7 meters from 360.50 to 361.20 meter

**The photos are of selected intervals and are not necessarily indicative of the mineralization hosted on the property.

Click Image To View Full Size

Figure 3 Quartz vein rimmed with chalcopyrite (copper) at 513.0 meters in CAR-20-05 2.62 g/t gold and .3% Copper over 1.5 meters from 512.50 to 514.0 meters

**The photos are of selected intervals and are not necessarily indicative of the mineralization hosted on the property.

Click Image To View Full Size

Figure 4 Blebby and matrix dominant chalcopyrite (copper) at 513.5 meters in CAR-20-05

2.62 g/t gold and .3% Copper over 1.5 meters from 512.50 to 514.0 meters

** The photos are of selected intervals and are not necessarily indicative of the mineralization hosted on the property

The program was carried out under the supervision of Peter Caldbick, P.Geo and a consultant for Melkior Resources Inc., the qualified person responsible for this news release. The drill core was split with half sent to Actlabs in Timmins, On and fire assayed with an AA and gravimetric finish. Whole metallic assays are performed on samples greater than 10 g/t gold and samples containing visible gold. In addition, all three drill holes were treated with the 1E3 36 element multi element package with aqua regia analyses. Duplicates, standards and blanks were inserted into the sample stream.

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

Jonathon Deluce, CEO

For more information, please contact:

Melkior Resources Inc.

E-mail: info@melkior.com

Tel: 226-271-5170

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

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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.