Melkior Resources Inc.

Melkior Resources Inc.

May 20, 2010 08:00 ET

Melkior Drills 107.50g/t Gold and 31.3g/t Silver Over 0.55 Metres in West Timmins

OTTAWA, ONTARIO--(Marketwire - May 20, 2010) - Melkior Resources Inc. ("Melkior") (TSX VENTURE:MKR) is pleased to update shareholders on the ongoing 20,000 metre diamond drill program on its 100% owned Carscallen Gold property ("the property), located approximately 25 kilometres west of Timmins, Ontario, 5 kilometres west of the Lake Shore Gold Corp Timmins Mine and adjacent to Lake Shore's West Timmins land holdings. 

The results being reported are from the Zam Zam and Shenkman zones. To date the gold mineralized zones have been traced for approximately 1200 metres along the Zam Zam Shenkman corridor, with at least three distinct styles of gold mineralization being detected. The gold zones are open at depth and along strike.

  1. Gold in narrow quartz pyrite veins, frequently multiple within a granite host.
  2. Gold in quartz pyrite veins within altered volcanics north of the granite-volcanic contact.
    (North of the Zam Zam zone).
  3. Gold in a Quartz Feldspar Porphyry (QFP) within volcanics (Hole CAR-38-2010, Press Release April 6th, 2010).

It should be noted that the holes frequently intersected wide zones of numerous narrow quartz pyrite veinlets carrying anomalous gold values. In the tables below Melkior is only reporting those veinlets which have gold values of greater than 1.0g/t. For some holes we have combined the anomalous veinlets with the greater than 1.0g/t values to show the grade across a wider geological section.

Melkior's exploration of the Carscallen property is still in early stages. As drilling progresses deeper preparation of a 3D model of the mineralized horizons is key to deep drilling. CAR-41-2010, CAR-44-2010 and CAR-45-2010 are infill holes drilled between CAR-32-2010, CAR-33-2010 and CAR-38-2010 required for modelling the Zam Zam zone. CAR-43-2010 was drilled at the Shenkman zone. 

Assays for CAR-41-2010, CAR-43-2010, CAR-44-2010 and partial results from CAR-45-2010, comprising a total of 1008 metres are being reported. An additional 1296 metres have been submitted to ALS Chemex, Val-d'Or, results are pending. 

CAR-41-2010: Hole CAR-41-2010 was drilled at an azimuth of 240º and a dip of -50º, with a final core length of 356 metres. CAR-41-2010 is located 285 metres south west of CAR-38-2010, which intersected 11.4 metres of 0.72g/t gold in a Quartz-Feldspar-Porphyry (QFP) (Press Release May 6th, 2010) and 200 metres north of CAR-42-2010 where assays are pending. CAR-42-2010 was drilled to a core length of 701 metres to provide information of the Zam Zam at depth.

Table 1: Significant Results from hole CAR-41-2010.

Hole # From (metres) To (metres) Core Length (metres) Gold (g/t) Host rock
CAR-41-2010 111.70 112.20 0.50 1.39 1-2% pyrite stringers/veinlets
CAR-41-2010 123.25 123.80 0.55 1.73 Quartz pyrite vein, Zam Zam vein
CAR-41-2010 167.45 168.05 0.60 1.22 5cm thick semi massive pyrite vein
CAR-41-2010 189.95 191.80 1.85 1.73  
Including 189.95 190.45 0.50 1.74 12cm thick quartz pyrite vein + sheared zone, 1-2% pyrite
Including 191.30 191.80 0.50 4.39 10cm thick quartz pyrite vein (10% pyrite)

CAR-44-2010: Hole CAR-44-2010 was drilled at an azimuth of 240º and a dip of -50º, with a final core length of 386 metres. The hole is located between CAR-32-2010 and CAR-33-2010 where CAR-32-2010 and CAR-33-2010 intersected 5.84 g/t gold over 2.50 metres and 4.12 g/t gold over 0.8 metres respectively (Press release April 6th, 2010). 

Table 2: Significant Results from hole CAR-44-2010.

Hole # From (metres) To (metres) Core Length (metres) Gold (g/t) Host rock
CAR-44-2010 68.30 76.00 7.70 0.18 Includes anomalous veinlets
Including 74.80 75.30 0.50 2.69 Quartz pyrite veins
CAR-44-2010 348.00 358.00 10.00 0.19 Includes anomalous veinlets
Including 348.90 350.00 1.10 1.03 Quartz pyrite vein

CAR-45-2010: Hole CAR-45-2010 was drilled at an azimuth of 210º and a dip of -50º, with a final core length of 341 metres.

Table 3: Significant Results from hole CAR-45-2010

Hole # From (metres) To (metres) Core Length (metres) Gold
Host rock
CAR-45-2010 64.70 70.70 6.00 1.46   Includes anomalous veinlets
Including 68.65 69.85 1.20 7.21    
Including 69.35 69.85 0.50 12.70    
CAR-45-2010 176.25 178.65 2.40 0.52    
CAR-45-2010 182.55 183.75 2.95 21.42    
Including 182.55 183.20 0.65 5.22    
Including 183.20 183.75 0.55 107.50 31.3  

CAR-43-2010: Hole CAR-43-2010 was drilled at an azimuth of 270º and a dip of -50º, with a final core length of 266 metres. The hole tested the Shenkman zone where previous results include 56.0g/t over 0.9 metres (CAR-16-2009, Press Release) and 55.2g/t over 1 metre (TW-08-SH-1, Press Release).

Table 4: Significant Results from hole CAR-43-2010.

Hole # From (metres) To (metres) Core Length (metres) Gold
Host rock
CAR-43-2010 59.50 60.00 0.50 1.22   3cm thick quartz pyrite vein, 5% pyrite
CAR-43-2010 103.20 103.70 0.50 2.00   Series of cm-thick quartz-pyrite veins; up to 5% pyrite
CAR-43-2010 112.20 115.25 3.05 1.01    
Including 112.20 112.75 0.55 2.03   4cm thick quartz pyrite vein, 5% pyrite
Including 114.75 115.25 0.50 2.84   Local pyrite carbonate quartz vein
CAR-43-2010 144.00 157.75 13.75 1.30   Includes anomalous veinlets
Including 144.85 145.50 0.65 1.18    
Including 150.80 151.30 0.50 31.9 16.6 9cm thick quartz pyrite vein
CAR-43-2010 179.60 180.10 0.50 1.14   QFP, 2-3% pyrite
CAR-43-2010 218.10 218.80 0.70 1.26   Local 5% pyrite

Current drilling continues on the property with one drill defining the extent of the Zam Zam and Shenkman zones at depth and one drill infilling and exploring other targets on the 3072 hectare (7591 acre) Carscallen property. 

Quality Assurance / Quality Control

Core processing included descriptive logging and systematic sampling for analysis. The drill core was sawed in half, with one half delivered to a commercial laboratory and the other half retained for future reference, gold assays were performed at ALS CHEMEX Laboratories in Val d'Or, Quebec. The processed samples were submitted to a standard Fire Assay with AA technique (Au-AA-23) and Inductively Coupled Plasma Emission Spectroscopy (ME-ICP-41) on a 30 gram sub-sample. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol.

This Press Release was prepared by Jens E. Hansen, P.Eng, President of Melkior Resources Inc, Qualified Persons under National Instrument 43-101. 

About Melkior:

Melkior is a junior exploration company with active exploration projects in West Timmins and the Mc Faulds "Ring of Fire" areas of Ontario. Melkior also holds a 49% interest in the Delta Kenty nickel-copper-platinum-palladium deposit in Ungava and has several other gold properties in Ontario and Quebec.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Melkior's periodic reports including the annual report or in the filings made by Melkior from time to time with securities regulatory authorities.

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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