Timmins, Ontario – TheNewswire - November 12, 2021 - Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is pleased to announce that it has received all 705 sample assay results (including 72 QA/QC samples) from the 1,449m drill campaign at the Val D’Or Project. The results allow the Company to better define additional targets of interest that may be related to the same geological events that generated the newly defined gold and base metal anomalies found during this drill program.  The program’s objective was to investigate the geological formations located in the western extension of the four mineralized showings located outside of the Property.

The Company is currently reviewing the data in comparison with the previously completed IP survey (see news release dated February 22nd, 2021) to define additional targets for exploration in 2022 as the western part of the IP grid wasn’t drilled during this program and to follow up on new mineralization defined by this program.

Drill highlights can be seen below:

VDE-21-01 returned 176ppb Au over 1.0m and 430ppb Au over 0.75m (from depth 86.0m to 87.75m). Historic hole 466-08-88 located east of VDE-21-01 returned 230ppb over 0.4m Au (134.6m deep) and 210ppb ppb over 0.70m Au (143.35m deep) (Perron & Guay, 1988) on the same E-W magnetic structure.

VDE-21-02 returned several zinc and copper values ranging from 1600 ppm to 3110 ppm Zn and 833 ppm Cu over length of 0.7m. VDE-21-02 is located in a shear zone at the contact with a quartz feldspar porphyry dyke (from depth 21.6m to 22.3m and 23.0m to 25.1m respectively). Silver values up to 1g/t over 1.4m and 1.35 over 1.6m was also obtained (from depth 23.0m to 24.4m and 69.0m to 70.6m respectively)

VDE-21-03 purpose was to test a magnetic high and returned a value 134 ppb Au over 1.5m in a moderaly sheared  small gabbro dyke.

VDE-21-06 returned values of 1.61 g/t Ag over 1.70m (from depth 20.40m to 22.10m) including 702 ppm Cu over 1.15m in a basalt, at the contact with a QFP. It also returned 1.32 g/t Ag over 2.8m (from depth 62.35m to 65.15m) in a altered intermediate intrusive. It could be the lateral extension of the mineralization of historic hole 466-09-88 which returned 220ppb Au over 0.5m (80.54m deep) and 1000ppb Au over 1.0m (103.92m deep) (Perron & Guay, 1988).

VDE-21-07 is localized in a magnetic low and returned 1.47 g/t Ag over 13.0m (from depth 64.5m to 77.5m) in a brecciated zone in an altered andesite. It also returned 2.22g/t Ag over 15.30m (from depth 90.7m to 106.0m), including 1.07g/t Au, 2370ppm Zn over 0.45m, 701 ppm Zn over 0.76m and 330 ppm Zn over 1.0m in an altered fault gauge followed by an altered breccia zone.

VDE-21-08 is an altered gabbro and returned values of 1350ppm Cu over 0.7m (51.0-51.7m) and 1.90 g/t Ag over 0.80m (11.4-12.2m) in a highly altered medium shear. Historic hole 466-07-88 located west of VDE-21-08 returned 180ppb ppb over 0.30m Au (36.14m deep), 190ppb Au over 0.5m (107.20m deep) and 3900ppb Au over 0.3m (193.88m deep) (Perron & Guay, 1988) on the same E-W magnetic structure. Historic results were taken in quartz-calcite-pyrite veins at the contact with a QFP.

VDE-21-09 is in a basalt in contact with sericite chlorite schist a sample returned 0.196 g/t Au over 0.5m. It could be the lateral extension of the mineralization of historic hole B-50 which returned 600ppb Au over 0.5m (47.61m deep) and 600ppb Au over 0.7m (48.6m deep) (Paterson et al, 1946).

VDE-21-11 retured 1.1 g/t Ag and 0.201 g/t Au over 0.8m (from 7.8m to 8.6m deep) in an epidote altered and slightly sheared gabbro. In the sample lithology, it also returned 2.3g/t Ag over 0.9m (from 9.4 to 10.3m deep).

VDE-21-13 returned 0.97g/t Ag over 4.5m (from 69.0m to 73.5m deep) and 2.26g/t Ag over 5.0m (from 88.0m to 93.0m deep), including 2.14g/t Au and 1.9g/t Ag over 1.0m (from 91.0m to 92.0m).

Figure 1: Northern Drill Holes over First Vertical Derivative of Magnetic Intensity.

Click Image To View Full Size

 

Figure 2: Southern Drill Holes over First Vertical Derivative of Magnetic Intensity.

Click Image To View Full Size

 

Follow-up in 2022

Most of the magnetic structures are oriented E-W and can be followed over long distances. Existing historic mineralization appear to be continuous over those structures and were found at similar relative position in holes from the 2021 campaign. The most anomalous samples are not located at the crest of magnetic structures, but mostly at the edge, within the strong gradient. This could be indicative of faults or alteration corridors which denaturated the magnetic or conductive minerals and replaced them with less conductive/magnetic carbonates or silicates.

 

By combining historic results and the 2021 results, the anomalous zones tend to be parallel to the magnetic lineatment, which can be followed over hundreds of meters. It is therefore possible that additional mineralization is present along the lineament and such structures should be investigated with more drilling. West of the 2021 drilling is an open area with the continuity of the structures and the area shows good targets for mineralizated extensions. Figure 3, 4 and 5 show targets for follow-up in 2022.

   

Figure 3: Targets along Magnetic Structures on the North of the Grid

Click Image To View Full Size

 

Figure 4: Targets along Magnetic Structures on the South of the Grid

Click Image To View Full Size

 

Figure 5: Targets along Magnetic Structures on the West of the Grid

Click Image To View Full Size

 

Table 1: 2021 Drill Program Details

Name	Azimut (˚)	Dip (˚)	Length (m)	Coordinate (NAD83 Z18)		Target
				Easting (m)	Northing (m)
VDE-21-01	15	45	108	328153	5333556	Magnetic High, Low Conductor, Historical Target
VDE-21-02	10	45	102	328198	5333444	Magnetic High, High Conductor and Chargeable
VDE-21-03	10	45	102	327865	5333389	Magnetic High, Medium Conductor
VDE-21-04	10	45	102	327792	5333311	Magnetic High, High Chargeable
VDE-21-05	10	45	132	327969	5333160	Magnetic Low, Lithological Target
VDE-21-06	10	45	102	328055	5333059	Magnetic High, Low Conductor
VDE-21-07	10	45	159	327991	5332878	High Conductor and Chargeable
VDE-21-08	10	45	117	328202	5333360	Magnetic Gradient, High Conductor and Chargeable, Historical Target
VDE-21-11	10	45	108	328146	5332955	Magnetic Gradient, Lithological Target
VDE-21-13	10	45	102	327850	5332946	Magnetic Gradient, Lithological Target
VDE-21-14	190	45	108	328129	5333439	Magnetic Gradient, Lithological Target

Qualified Person

This press release was prepared by Steven Lauzier, P.Geo,OGQ and by Pierre-Alexandre Pelletier, P.Geo OGQ, who are qualified persons as defined under National Instrument 43-101, and who reviewed and approved the geological information provided in this news release.

References

Gariepy, L., 1988: Rapport sur la cartographie géologique sur la Propriété Tiblemont. Exploration Noranda Ltd, GM 48819.

Morin, R., Desjardins, D., Perron, L., 1988: Journal de sondage. Mines Messeguay inc, GM 48283.

Paterson, J. D., Fillingham, B. C., Macdonald, H. N., 1946. Diamond Drill Record. Bruell Consolid Mines Ltd, Rapport Statutaire Soumis Au Gouvernement Du Québec; GM 38598, 52 Pages, 1 Plan.

Perron, L., Guay, P., 1988. Rapport De Travaux D'exploration 1987-88, Projet Vauquelin # 466. Mines Messeguay Inc, Rapport Statutaire Soumis Au Gouvernement Du Québec; GM 47581, 180 pages, 4 plans.

 

About Melkior Resources

Melkior Resources is an exploration stage resource company with strong partners in world-class mining jurisdictions. Melkior’s flagship Carscallen Project is being advanced by Kirkland Lake Gold through a $110M option/joint venture agreement. Melkior’s White Lake Project is being advanced by Barrick Gold through a $4M option/joint venture agreement. Melkior under 100% ownership is focused on advancing it’s Val D’Or and Maseres Projects in Quebec. Kirkland Lake Gold currently owns approximately 6% of the Company.

 

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.

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.