Melkior Resources Inc.
TSX VENTURE : MKR

Melkior Resources Inc.

November 28, 2013 08:57 ET

Melkior Intersects 1.5 Metres at 34.06 g/t Gold at the Carscallen Gold Project, in Timmins, Ontario

OTTAWA, ONTARIO--(Marketwired - Nov. 28, 2013) - Melkior Resources Inc. (TSX VENTURE:MKR) ("Melkior") is pleased to announce results from the first six holes of fifteen holes from its current drill program. These six holes include gold intersections of 1.50 metres of 34.06 g/t gold and of 0.65 metres of 40.4 g/t gold (see Table 1 below for complete results). The six holes covered a portion of the ZamZam zone for over 170 metres along strike. The holes were collared to intersect the zone at an approximate vertical depth of 80 to 115 metres along the strike and at an approximate 30 metre spacing to systematically test the internal variations of grades and type of veining. The current program compliments earlier drilling and is intended to be used in a resource calculation.

Drill hole number From
(metres)
To
(metres)
Length
(metres)
Gold (g/t) Zone
CAR-86-2013 29.50 30.15 0.65 0.98 Jowsey
CAR-86-2013 36.00 36.75 0.75 3.44 Jowsey
CAR-86-2013 39.40 40.40 1.00 1.36 Jowsey
CAR-86-2013 91.35 92.00 0.65 40.40 ZamZam
CAR-87-2013 13.50 14.00 0.50 2.37 Jowsey
CAR-87-2013 108.00 109.00 1.00 2.95 ZamZam
CAR-88-2013 88.75 90.25 1.50 34.06 ZamZam
Including 88.75 89.30 0.55 80.50
CAR-89-2013 90.40 91.00 0.60 0.91 ZamZam
CAR-89-2013 104.10 104.65 0.55 1.04 ZamZam
CAR-89-2013 110.00 110.50 0.50 1.34 ZamZam
CAR-89-2013 111.20 112.10 0.90 0.71 ZamZam
CAR-90-2013 83.15 84.15 1.00 8.73 ZamZam
CAR-90-2013 96.25 99.15 2.90 3.19 ZamZam
Including 98.20 99.15 0.95 8.93
CAR-90-2013 100.00 100.85 0.85 0.72 ZamZam
CAR-90-2013 108.25 109.00 0.75 2.46 ZamZam
CAR-90-2013 112.10 113.00 0.90 1.80 ZamZam
CAR-90-2013 113.00 114.00 1.00 0.96 ZamZam
CAR-90-2013 83.15 114.00 30.85 0.77
CAR-91-2013 21.55 22.40 0.85 1.07 Jowsey
CAR-91-2013 26.10 26.70 0.60 1.52 Jowsey
CAR-91-2013 100.10 100.60 0.50 25.7 ZamZam
Table 1: Results from assay. Intersections represent core length, true width to be calculated.

Within the ZamZam system, the mineralized veins vary in width and grade along strike. The high grade mineralization consists of a single interval varying from 0.50 to 2 metres thick and includes quartz veins and pyrite veins; pyrite proportion varies. This single interval typically contains gold grades above 10 g/t. The lower grade series of veins consists of several small quartz and pyrite veins occurring within a 5 to 10 metre interval for a total intersection of about 20 to 30 metres wide. These veins commonly contain gold grades below 5 g/t.

Gold intersections were encountered at the top of some holes (which represent the Jowsey Zone; Table 1), the focus, however, remains on the ZamZam Zone for resource calculation purposes.

Conclusion

These results are encouraging because they demonstrate that high-grade mineralization occurs in a single vein structure which is easy to follow from one hole to the next.

Drill data from the 2007 - 2012 will be integrated with the current drilling to present a plan for the top part of the ZamZam system. This will provide the lateral and vertical outline of the upper portion of the zone.

Results are pending for approximately 100 samples from the remaining 9 holes.

Quality control

Core processing included descriptive logging and systematic sampling for analysis. The drill core was sawn in half, with one-half delivered to a commercial laboratory and the other half retained for future reference. Samples were submitted to ALS Chemex Laboratories in Timmins, Ontario. The processed samples were subjected to a standard fire assay with AA technique (Au-AA-23) on a 30-gram subsample. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. For samples returning greater than ten g/t gold, follow-up analysis using fire assay with a gravimetric finish is completed. Following receipt of assays, visual analysis of mineralized intercepts is conducted, and additional analyses may be requested to ensure the accurate representation of the mineralized zones.

This press release was prepared by Dr. Eric Hebert, PGeo, of GeoVector Management Inc., qualified person under National Instrument 43-101. Dr. Hebert has supervised the diamond drill program, logged the core, designed the sampling program and reviewed the quality control information.

About Melkior:

Melkior is a junior exploration company with active exploration projects in West Timmins and holds several other exploration properties.

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.

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.

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