Melkior Resources Inc

TSX VENTURE : MKR


July 18, 2013 12:00 ET

Melkior Reports 95% Gold Recovery from Preliminary Metallurgical Testing at Its Carscallen Gold Project

OTTAWA, ONTARIO--(Marketwired - July 18, 2013) - Melkior Resources Inc. (TSX VENTURE:MKR) ("Melkior") is pleased to announce that it has received positive gold metallurgical results from its Initial Metallurgical Study for the Carscallen Gold Project in Timmins, Ontario. A composite of mineralized samples from the ZamZam zone was sent to Activation Laboratories for preliminary metallurgic testing to assess gold recovery from samples of representative mineralization. A Knelson concentrator was used for gravity concentration, and then several cyanidation tests were completed on the gravity tailings. The combined gravity and cyanidation methods resulted in 95% gold recovery from 8.72 g/t head grade material. Given the first-pass nature of this testing, this result is considered to be very positive.

The ZamZam zone is a gold bearing vein system exposed on the surface for a length of 215 metres and consists of a series of fractures filled with gold-bearing pyrite and quartz-pyrite veins hosted in granite. Surface grab samples and channel samples include a sample grading 843.72 g/t gold and surface channels assaying 4.00 metres grading 4.95 g/t gold and 4.20 metres grading 5.66 g/t gold (see news releases dated September 6th, 2007 and December 17th, 2012). Shallow and deep drilling also revealed continuity of these gold zones.

The selected composite was derived from 39 residual core samples representative of the mineralization (i.e. sampled material not used by the laboratory, commonly called "rejects") and of quarter drill core from the ZamZam zone. The assayed head grade of the composite was 8.72 g/t Au. The samples selected were primarily pyrite and quartz veins hosted in granite. The samples which comprise the composite represent typical near-surface gold intersections found on the ZamZam zone on the Carscallen property. 17.48 kilograms of material were sent to Activation Laboratories for metallurgical testing. 59.47% of the gold was recovered in the gravity concentrate. The combination of gravity concentration followed by cyanidation of the gravity tailings gave a total recovery and extraction of 95% of the gold for the Carscallen composite. This is considered to be a very encouraging result, which demonstrates that the gold can be efficiently extracted and recovered from the ZamZam zone. Table 1 indicates the drill core and their widths used in the composite.

Hole # Assay # From (m) To (m) Length (m) Au (g/t)
CAR-21-2009 E429512 39.00 39.60 0.60 2.10
CAR-21-2009 E429515 41.00 41.60 0.60 2.07
CAR-21-2009 E429534 128.00 128.85 0.85 4.01
CAR-21-2009 E429537 131.15 132.00 0.85 3.30
CAR-21-2009 E429544 137.75 138.40 0.65 1.58
CAR-21-2009 E429553 143.10 143.90 0.80 1.20
CAR-21-2009 E429562 149.90 150.90 1.00 4.98
CAR-22-2009 E429584 40.50 41.15 0.65 1.17
CAR-22-2009 E429587 43.70 44.40 0.70 1.91
CAR-22-2009 E429590 122.30 123.10 0.80 2.49
CAR-22-2009 E429591 123.10 123.75 0.65 1.81
CAR-22-2009 E429592 126.20 127.00 0.80 1.89
CAR-22-2009 E429593 127.00 127.70 0.70 20.70
CAR-20-2009 H543651 80.80 81.50 0.70 1.88
CAR-20-2009 H543653 82.50 83.50 1.00 10.15
CAR-19-2009 H543618 92.00 92.70 0.70 48.00
CAR-17-2009 H543908 106.80 107.40 0.60 1.045
CAR-17-2009 H543916 120.10 120.95 0.85 9.42
CAR-44-2010 I767188 144.00 145.00 1.00 2.89
CAR-44-2010 I767191 164.35 165.15 0.80 13.65
CAR-44-2010 I767196 200.30 200.80 0.50 11.1
CAR-45-2010 I767268 68.65 69.35 0.70 3.28
CAR-45-2010 I767269 69.35 69.85 0.50 12.7
CAR-18-2009 H543587 181.80 182.40 0.60 15.65
CAR-17-2009 H543880 42.25 43.25 1.00 1.2
CAR-26-2009 E429751 233.45 233.95 0.50 14.25
CAR-26-2009 E429752 233.95 234.65 0.70 4.78
CAR-62-2010 J918744 23.25 24 0.75 4.6
CAR-62-2010 J918747 72 72.6 0.6 4.9
CAR-62-2010 J918751 73.5 74 0.5 22.7
CAR-64-2011 J918343 68 68.5 0.5 1.05
CAR-64-2011 J918359 100 100.5 0.5 1.27
CAR-44-2010 I767232 348.90 349.40 0.50 1.205
CAR-45-2010 I767278 177.00 177.50 0.50 1.23
CAR-45-2010 I767279 177.50 178.15 0.65 0.324
CAR-45-2010 I767280 178.15 178.65 0.50 0.212
CAR-45-2010 I767281 181.55 182.55 1.00 0.592
CAR-45-2010 I767282 182.55 183.20 0.65 5.22
CAR-45-2010 I767283 183.20 183.75 0.55 107.5
Table 1: Drill core used for the composite.

Going Forward

The next steps for Carscallen are two-fold: a) a series of shallow drill holes will be drilled to extend and close off the gold mineralization on the ZamZam zone for outlining a resource (a total of 600 to 1000 metres of drilling); and b) the 3D data compilation will be used to target one or more deep holes on the Shenkman Zone underneath the granite to pursue the source for all near-surface gold mineralization.

Melkior's Carscallen Gold project is located in the Timmins mining camp which has excellent infrastructure. The project is accessible year round and has paved road access.

This Press Release was prepared by Dr. Eric Hebert, P.Geo of GeoVector Management Inc, and Qualified Person under National Instrument 43-101.

About Melkior:

Melkior is a junior exploration company with active exploration projects within the Timmins gold camp and holds several other exploration properties of which the most important is the 100% owned Launay gold property in West Quebec. Melkior also holds two claim groups in the Beardmore Long-Lac gold camps as well as 49% of the Delta Kenty nickel-copper deposit in Ungava.

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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