Melkior - MASERES First Phase Drilling Completed

2019-03-26 / @thenewswire

(TheNewswire)

March 26, 2019Trading Symbol: MKR

TSX Venture Exchange

Timmins, Ontario / TheNewswire / Melkior Resources Inc. (“Melkior”) is pleased to announce that the first drill program on the Maseres Project has been completed. Twenty holes totaling 4,899 meters were constructed along 2.4 km of priority EM trend. Assays have only been completely received up to MS-19-7. Drill holes MS-19-8 to MS-19-20 (13 holes) have not yet been submitted or received in their entirety at present time. Complete assays should be available within four weeks, Phase 2 plans will be presented shortly thereafter. The Maseres drilling permit is the process of being renewed for 2019.

Melkior has advanced the Maseres Project consistently and aggressively since staking in March 2017. The 2,170-line kilometer GEOTECH VTEM plus time-domain helicopter borne magnetometer and EM survey was completed in March 2018. Ground truthing of these EM trends established the almost complete lack of bedrock exposure within these priority trends. Detailed soil sampling over the intriguing priority EM trends was undertaken through 2017 and 2018. To continue to advance the Maseres Project it was necessary to establish EM anomaly causation. The most prominent and accessible EM trend was selected as a focus area where a line cutting grid was established and ground geophysics conducted in November and December 2018. This ground work established the location of the EM anomalies with sufficient accuracy to permit drill targeting and the completion of the First Phase drilling campaign.

This initial phase of drilling is already considered to be highly successful, yet it is only the beginning, and all of the assays have not yet been received. Base metal mines are found in VMS stratigraphy, and VMS deposits are generally located in clusters. Melkior has in excess of 24 km of horizontal strike length of Priority EM anomalies on the Maseres Project. Melkior has established that the priority EM anomalies reflect the presence of VMS stratigraphy on the Maseres Project along 2.3 km of this trend. Melkior has over 20 km of additional strike length to investigate along the surface. The lack of structural complexity on the Maseres Project allows Melkior to progressively evaluate this VMS environment both along strike and to depth. This first drilling campaign encountered VMS, manifest primarily in iron and sulfur, but locally also with significant silver, lead and zinc. How far could you possibly be from a vent source and still have iron rich chemical sedimentary layers several meters thick, with credits of silver, lead and zinc?

These are extraordinarily challenging times yet Melkior has been advancing our exploration assets to create value for our shareholders. If a VMS mine is to be found on the Maseres Project, it will take commitment and perseverance, in addition to some significant exploration expenditures undertaken with intelligence. Melkior will continue beyond this initial drill program, it is currently being considered to establish very narrow ground IP grids along the additional 20+ km length of the of the priority VTEM EM anomalous trend. Each of these could then be targeted effectively with one drill hole across the stratigraphy to provide vectoring data to guide future exploration efforts.

A discussion of the complete assays should be released in about 4 weeks.

Wade Kornik, P.Geo., has approved the information contained in this release. Mr. Kornik is the Exploration Manager of the Company and is a 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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