Business
Melkior Announces the Val d'Or Property as a Key Project
(via TheNewswire) May 26, 2020 - TheNewswire - Timmins, Ontario - Me...
About this update from Melkior Resources Inc.
[{"type":"text","content":"Melkior Announces the Val d'Or Property as a Key Project(via TheNewswire)\n \n \nMay 26, 2020 - TheNewswire - Timmins, Ontario - Melkior Resources Inc. (\"Melkior\" or the \"Company\") (TSXV:MKR) (OTC:MKRIF) is pleased to announce that it's Val-d'Or Property (the \"Property\") has been switched from a status of being a non-key asset to its list of key assets. This Property was previously named the \"Vauquelin\" and \"Tiblemont\" properties by prior management. This change in Property sentiment is triggered by the development and interest seen in the vicinity of the Property, which is expected to increase its potential for discoveries. Subsequently, the Company acquired two additional packages of claims to the west and the east of the Property.\n\n \n \nJonathon Deluce, CEO of Melkior, remarks, \"We are excited to announce the Val d'Or property as a key project for the company. Additionally, we were able to expand the property significantly to the west and east through direct staking. We look forward to planning a program on the east-west mineralized trend which is the focus of the Eldorado JV and leads onto Melkior's property. This program will take place this summer.\"\n\n\n \n\nClick Image To View Full Size\n\n \n \nSparton Resources Inc. announced on December 16th that it had executed an option agreement for Eldorado to earn up to an initial 75% interest in the Bruell Gold Project, owned by Sparton. In return, Eldorado will perform $1.5 million in exploration expenses (see news release by Sparton, dated Dec.16 2019). The agreement follows up the discovery of multiple gold drill intervals during Sparton's 2019 drill program. The Company also announced additional exploration on three other targets containing gold on their property (see news release by Sparton, dated April 25, 2020). The Company believes these new exploration targets are likely in the same geological formation as seen on Melkior's Property, and these new developments showcase the Property's exploration potential.\n\n \n \nO3 Mining announced on March 17th that is acquired the south-western bordering property from Monarch Gold Corporation, continuing O3's consolidation of the Val d'Or camp.\n\n\n \nA three (3) claim fraction block east of the Property was sold to Globex Mining with Melkior retaining a 1% NSR with 0.5% Buyback for $100,000.\n\n \n \nThe Property\n...