Melkior Resources Inc.

Melkior Resources Inc.

July 08, 2008 10:25 ET

Melkior Resources Inc.: Second Airborne Survey Starts in James Bay

OTTAWA, ONTARIO--(Marketwire - July 8, 2008) - Melkior Resources Inc. ("Melkior") (TSX VENTURE:MKR), has been advised by Fugro Airborne Surveys Corp. that the Dash 7 aircraft was mobilized to start surveying the West Rim Nickel property on July 3. The previous 1738km MEGATEM survey of its 100% owned East Rim Nickel property has now been interpreted and the final written report is scheduled for delivery in four weeks. The preliminary maps have been examined by Melkior and several electromagnetic conductors with a high probability of being caused by massive sulphides were mapped. These are of particular interest since they occur within an area of a strong gravity anomaly that could be caused by an ultra-mafic intrusive body.

A review of technical literature on the deposition of nickel sulphide deposits clearly indicates that significant accumulations will occur within, or on the margins of, large mafic to ultra-mafic intrusive bodies. The high density of these rocks will invariably result in an appreciable gravity anomaly, and therefore nickel sulphide accumulations will be proximal to these anomalies.

The proof of deep search capability of MEGATEM on Melkior's East Rim property and the timely delivery schedule presented by Fugro has prompted Melkior to contract Fugro to undertake a MEGATEM survey of its West Rim Nickel property. This survey work will be operated by Melkior on behalf of Bold Ventures Inc. and Melkior Resources Inc. The property covers 909 claims or 14544 hectares.

It is located approximately 20 kilometres north of the important Noront Eagle One and Double Eagle nickel discoveries and 20 kilometres southeast of the Metalex-WSR massive sulphide discovery.

The West Rim property covers the majority of an important gravity anomaly located at the approximate centre of the "Ring of Fire". The ROF wraps around the Melkior-Bold gravity feature.

The airborne survey will consist of approximately 1440 line kilometres at a cost of $300,000. The data will be available to permit Melkior-Bold to undertake ground follow-up and drilling in the coming months. Upon completion of the airborne survey Melkior and Bold will enter a 50-50 joint venture.

This news release was prepared by Jens E. Hansen, P. Eng, President Melkior Resources Inc., a Qualified Person under NI 43-101.

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 the Company' periodic reports including the annual report or in the filings made by the Company from time to time with securities regulations. The Company undertake no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated event.

The TSX Venture Exchange (TSX-V) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Melkior Resources Inc.
    Jens E. Hansen
    613-828-7268 (FAX)