Business
Melkior Builds On Hemlo Foundation
(via TheNewswire) Timmins, Ontario / TheNewswire / June 5 , 2017 - Me...
About this update from Melkior Resources Inc.
[{"type":"text","content":"Melkior Builds On Hemlo Foundation(via TheNewswire)\n \n \nTimmins, Ontario / TheNewswire / June 5, 2017 - Melkior Resources Inc. (\"Melkior\") is pleased to announce that Melkior has acquired by staking an additional 163 claim units (6,444 acres) in the White Lake Area and Bryant Township. These claims are contiguous with both the previously announced claims (NR Feb 15, 2017) and the recently optioned Kakeeway claim group (NR May 16, 2017). The total area of the White Lake Project is now 290 contiguous claim units (11,464 acres), additional staked claims are pending posting by the Ministry of Northern Development and Mines (\"MNDM\") and will be the subject of future news release. Melkior's current claim group adjoins Canadian Orebodies Inc. and is 3 km west of claims held by Golden Peak Minerals Inc. The White Lake Project is located approximately 15 km northeast of the Hemlo Gold Mine currently operated by Barrick Gold Corporation. \n\n \n \nMelkior's White Lake Property is situated in the north-eastern portion of the Hemlo Greenstone belt which has seen sporadic interest over the last four decades since the Hemlo staking rush. The area has been partially covered by an Airborne Geophysical Survey (Aerodat Limited, 1989) and subject to multiple Magnetometer, VLF, IP and Spectral IP surveys, geological mapping and soil sampling. Limited trenching, blasting and diamond drilling has been undertaken only on the Kakeeway claim group, resulting in the discovery of the high-grade Carroll-MacDougall gold Occurrence in the fall of 1993. The Carroll-MacDougall gold occurrence has reported assays of up to 1,168 g/t gold, taken by Resident Geologists with the Ontario Geological Survey and reported grab assays of 19.88 g/t gold.\n\n \n \nMelkior staked its initial claims south of Canadian Orebodies following the south-easterly extension of the North Limb of the Hemlo Greenstone Belt. It was observed that there were gold occurrences within the North Limb, within the Kakeeway claim group and further southeast towards the margin of the Hemlo Greenstone Belt. Potentially indicating that the intervening areas merit additional exploration effort. Melkior through staking and option has acquired a significant amount of the south-eastern portion of the North Limb of the Hemlo Greenstone Belt, the historical exploration data is available through the...