Melkior Resources Inc. Announces 700m Drill Program at Maseres (Urban Barry)
Timmins, January 22, 2021 - Melkior Resources Inc. ("Melkior" or the "Company") (TSXV:MKR) (OTC:MKRIF) is pleased to announce the commencement of 700 meters of drilling at Maseres. This program will consist of 4 holes to test the re-interpreted up-ice target from previously identified till and soil anomalies. VIDEO: Melkior Resources CEO Update
Figure 1: Proposed Drill Holes and Targets
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The Company determined this target through reevaluating its geochemical data, following a till survey completed on the Maseres Property during the summer (see news release dated July 9th, 2020). The till survey was conducted to confirm previously known soil sample anomalies defined in 2019 by the Company. The survey includes the SW area from the previously drilled targets, and the new interpretation is shown in Figure 2. The re-interpretation of the 2019 soil results and 2020 till sample results indicate a possible source of mineralization on the Property, just up-ice from the previously drilled locations. The Company selected four holes located up-ice, which also target IP anomalies, as shown in the below table.
Table 1. Targeted Geophysical Anomalies Up-Ice
----------------------------------------------------- |Hole ID |Chargeability|Resistivity|Magnetism | |---------------------------------------------------| |MS-21-21|Very Weak |High |Contact high/low| |---------------------------------------------------| |MS-21-22|Strong |Low |Low | |---------------------------------------------------| |MS-21-23|Strong |Low |Low | |---------------------------------------------------| |MS-21-24|Moderate |Low |Moderate | -----------------------------------------------------
Figure 2. New Interpretation of the Source of the Anomalies in Till and Soils
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Jonathon Deluce, Chief Executive Officer of Melkior Resources, commented: "We are excited to commence our 700-meter program on our Maseres Project in the Urban-Barry Gold Camp. The re-interpretation of the previous soil samples and 2020 till samples provide a renewed theory on our A Block target shown in Figure 2. While the previous drill program focused on the IP targets under the strong soil results, we believe that the potential source of the Au, Ag, Zn anomalies are "up-ice" and along the structure further to the north-east"
Qualified Person
This press release was prepared by Steven Lauzier, P.Geo,OGQ and by Pierre-Alexandre Pelletier, P.Geo OGQ, who are qualified persons as defined under National Instrument 43-101, and who reviewed and approved the geological information provided in this news release.
ON BEHALF OF THE BOARD
Jonathon Deluce, CEO
For more information, please contact:
E-mail: info@melkior.com
Tel: 226-271-5170
The reader is invited to visit Melkior's web site www.melkior.com.
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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
