Melkior Intersects 81 Meters of .036% Anomalous Copper Including 6.0 Meters of .127% Copper in DDH CAR-19-03A on the Carscallen Project

2019-12-04 / @thenewswire

(TheNewswire)

Timmins, Ontario – TheNewswire - December 4, 2019 - Melkior Resources Inc. (“Melkior”) (TSXV:MKR) is pleased to announce it has intersected .127% Copper over 6.0 meters from 467.0 to 473.0 meters and .036% Copper over 81.0 meters from 432.0 to 513.0 meters in ddh CAR-19-03A. These intercepts occur below and overlap the bottom portion of the gold intercept reported November 28, 2019 of 23.5 g/t Gold over 8.0 meters from 426.0 to 434.0 meters in DDH Car-19-03A. In addition, .067% Zinc over 36 meters was intersected immediately below the anomalous copper from 513.0 to 549.0 meters in the same drill hole (see Figure 1). The Carscallen Project is located approximately 25 km west of the town of Timmins, Ontario and 5 km west of Pan American Silver’s Timmins West Mine (see table below).

RESULTS FROM DRILL HOLES

------------------------------------------------------------------ |Hole ID |From (m)|To (m)|Length (m)|Au (g/t)|Cu (ppm)|Zn (ppm)| |----------------------------------------------------------------| | | | | | | | | |----------------------------------------------------------------| |CAR-19-01 |98.5 |103.5 |5.0 |1.27 | | | |----------------------------------------------------------------| |Including |103.0 |103.5 |0.5 |8.10 | | | |----------------------------------------------------------------| | |108.5 |113.5 |5.0 |1.12 | | | |----------------------------------------------------------------| |Including |108.5 |109.0 |0.5 |4.47 | | | |----------------------------------------------------------------| |CAR-19-02 |143.5 |144.5 |1.0 |4.27 | | | |----------------------------------------------------------------| |CAR-19-03A|426.0 |434.0 |8.0 |23.50 | | | |----------------------------------------------------------------| |Including |430.0 |434.0 |4.0 |47.0 | | | |----------------------------------------------------------------| |Including |433.0 |433.5 |0.5 |372.0 | | | |----------------------------------------------------------------| | |432.0 |513.0 |81.0 | |.036 | | |----------------------------------------------------------------| |Including |467.0 |473.0 |6.0 | |.127 | | |----------------------------------------------------------------| | |513.0 |549.0 |36.0 | | |.067 | ------------------------------------------------------------------

* 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). Melkior concurs with this assessment as the chalcopyrite observed in DDH CAR-19-03A consisted of chalcopyrite infilled fractures and tension gashes within a chloritic altered mafic volcanic. Of further note is the elevated anomalous zinc values encountered below the anomalous copper which may further reinforce the proximity to a VMS deposit. The Timmins district is host to VMS deposits, the most notable of which is the Kidd Creek deposit.

In March of 2012, Abitibi Geophysics employed a downhole InfiniTem electromagnetic survey on DDH CAR-79-2012 and detected a moderate conductive signature typical of disseminated to massive sulphides approximately 25 meters from the drill hole at 500 meters in depth. Neither a lateral or vertical direction for this conductor was established, however, a downhole 3-d IP survey was further recommended. Follow up drilling of the significant gold intercept in CAR-19-03A is a priority and a program is currently being planned. In addition, it is recommended that a Mise-a-la-masse downhole geophysical survey be employed utilizing the encouraging copper results both from DDH CAR-79-2012 and CAR-19-03A to help vector in on a potential VMS deposit.

Jim Deluce, CEO of Melkior remarks, “We are very excited with the results intersected in the CAR-19-03A hole. The presence of high-grade gold, copper and zinc are encouraging signs of a VMS deposit targeted. We shift our focus to the immediate planning of a follow up program to target further gold results and higher-grade copper & zinc. The details of the follow up program will be announced in the coming weeks.”

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, the third drill hole was 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

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.

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.

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Figure 1 Section 16A Showing Location of New Results and Distances From Historic Results Including Copper and Zinc Values