Mar. 25, 2011 (Filing Services Canada) -- Melkior Resources Inc. (MKR - TSX Venture),has opted to relinquish its interest in the West Rim McFaulds nickel property located in the Jamesbay Lowlands in Northern Ontario. Bold Ventures Inc., Melkior's joint venture partner, has also opted out of the project.
The West Rim McFaulds nickel property is located approximately 40 kilometres northeast of Melkior's 100% owned East Rim McFaulds nickel property. In July 2008, a 1438 line kilometre MEGATEM survey was flown by Fugro Airborne Surveys. A full interpretation of the airborne data on a line by line review was not successful in generating any near-surface bedrock conductors. The early time anomalies were also investigated, but appear to be broad in nature and very weak, indicative of overburden response.
Melkior will continue exploration on its 100% owned East Rim McFaulds nickel property. In 2008, a 1738 line kilometre MEGATEM and 618 line kilometre VTEM surveys were flown over East Rim McFaulds. A series of high priority targets were defined and were further ground tested during the summer of 2010 using Crone's TDEM survey. The modeling of the Crone TDEM in conjunction with the VTEM data using EMIT Maxwell EM inversion software achieved reliable drill hole targeting. A 681 line kilometre airborne gravity survey was recently completed by Fugro and a geological interpretation of the gravity data incorporating the MEGATEM survey will be undertaken by Fugro to determine the depth to source.
This Press Release was prepared by by Jens E. Hansen, P.Eng, President of Melkior Resources Inc, Qualified Person under National Instrument 43-101.
About Melkior:
Melkior is a junior exploration company with active exploration projects in West Timmins and the McFaulds "Ring of Fire" areas of Ontario. Melkior also holds a 49% interest in the Delta Kenty nickel-copper-platinum-palladium deposit in Ungava and has several other gold properties in Ontario and Quebec.
For more information:
Melkior Resources Inc.
Tel: 613.721.2919
Fax: 613.680.1091
E-mail: melkior@rogers.com
Web: www.melkior.com
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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Source: Ressources Melkior Inc. (TSXV MKR) www.melkior.com
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