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Melkior Receives TSXV Approval for Genex Au-Cu Project (Incl. 2.26 g/t Au Eq over 33.85 metres)
(TheNewswire) Timmins, Ontario – TheNewswire – July 21, 2022 - ...
About this update from Melkior Resources Inc.
[{"type":"text","content":"Melkior Receives TSXV Approval for Genex Au-Cu Project (Incl. 2.26 g/t Au Eq over 33.85 metres)\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Timmins, Ontario –\n \n \n TheNewswire – July 21, 2022 -\n \n \n Melkior Resources Inc. (“\n \n \n Melkior\n \n \n ” or the\n“\n \n \n Company\n \n \n ”) (TSXV:MKR) (OTC:MKRIF) is pleased to announce that the\nTSX Venture Exchange (“\n \n \n TSXV\n \n \n ”) has approved its previously announced\noption agreement (the “\n \n \n Agreement\n \n \n ”) to acquire 100% of the Genex\nProject (“\n \n \n Genex\n \n \n ”) from International Explorers & Prospectors Inc.\n(“\n \n \n IEP\n \n \n ”). The Genex Project is located approximately 20\nkilometres west of Timmins and borders Melkior’s Carscallen Project\non its northeast boundary.\n \n \n \n \n The TSXV approval will allow the Company to make the\ninitial cash payment and issuance of 500,000 common shares to IEP to\nbegin the earn-in for Option 1 as described further in this news\nrelease.\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n The Genex Project is an advanced gold-copper VMS\nexploration target with significant near-term resource potential. The\nzones have been historically interpreted over approximately 300 metres\nwide with a sub-vertical dip. Historical drilling completed along\nstrike and across inside 500 metres of a strongly altered volcanic\nsequence revealed satellite gold-copper mineralization that proves the\nexpansion potential of the system.\n \n \n \n \n Project Summary:\n \n \n \n \n Location:\n \n \n The\nGenex Project is located in the Kamiskotia volcanic belt extending\nnorthwest of Timmins. The Project is made of 70 claims, 6 patents and\n1 partial lease totaling 1,616 hectares with good access. Underground\nworkings including a 84-metre deep shaft and lateral development on\ntwo levels, were completed between 1964 and 1966.\n \n \n \n \n History:\n \n \n The\nKamiskotia area saw significant base metal production during the\nfifties and sixties, led by the Kam Kotia mine with 6.4 million tonnes\nof ore produced at a grade of 1.11% Cu and 1.17% Zn\n \n \n \n \n 1\n \n \n \n \n . The Genex Project\nwas in producti...