Melkior Resources Inc. - Maseres Project Update
Timmins, August 30, 2017 - Melkior Resources Inc. ("Melkior") is pleased to announce that assay results from the recently completed soil sampling on its Maseres Project in the Urban-Barry Greenstone Belt, Quebec, have started to come in. Results for 92 A-Horizon soil samples out of the 862 submitted have been received, assay values range from < 1 ppb to 76 ppb gold.The Maseres Project is located about 14 km southwest of the Osisko Black Dog Deposit. The Black Dog Project has been reported by Osisko to be a gold-silver-copper discovery in a volcanic sequence coincident with magnetic and electromagnetic anomalies and disseminated to semi-massive Au-Ag-Cu bearing sulfides. The Black Dog appears to be on the same magnetic trend as Bonterra's Gladiator Project. One interpretation of magnetic geophysical data suggests that this magnetic trend is folded and continues through Melkior's Maseres Project. Mineralized boulders have been historically identified co-incident within this formational conductor and reported to contain 11 ppm gold and 2% copper (NR April 13, 2017).
The soil sampling program covered the core area of the formational trend recently investigated (NR June 20, 2017) and consists of about 862 soil samples collected on a 50 m x 50 m grid spacing over an area of about 3,000 x 600 m centered over the axis of the formational conductor.
The 76 ppb gold in soil anomalous assay is located overlying a formational conductor and an EM anomaly. A better understanding of the relationship between anomalous gold in soil and EM anomalies and airborne conductors will be possible when all of the results have been received and evaluated.
If A-horizon sampling appears capable of helping to prioritized drill targets on the Maseres project, Melkior will be in a position to proceed with implementing an airborne electromagnetic survey.
Jim Deluce, CEO of Melkior has commented, "Melkior is of the opinion we are on the same formational conductor that hosts the Osisko Black Dog deposit. We are pleased to be in the enviable position of having so many quality EM and conductive targets in such close proximity to Osisko. With the qualified success of A-Horizon soil sampling as a targeting tool over airborne anomalies, we are one step closer to drilling."
Wade Kornik, P.Geo., has approved the information contained in this release. Mr. Kornik is the Exploration Manager of the Company and is Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
Keith James Deluce
CEO
For more information, please contact:
Melkior Resources Inc.
E-mail: info@melkior.com
Tel: 705-267-4000
The reader is invited to visit Melkior's web site www.melkior.com.
This news release may contain or refer to forward-looking information based on current expectations, including, but not limited the prospect of the Company achieving success in exploring the Maseres Project and the impact on the Company of these event, including the effect on the share price. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances.
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