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Melkior Resources Acquires Kakeeway Claims - Hemlo
Timmins, Ontario / TheNewswire / May 16, 2017 - Melkior Resources Inc. ("Melkior") is pleased to announce that it has entered into an agreement to purchase an a
About this update from Melkior Resources Inc.
[{"type":"text","content":"Timmins, Ontario / TheNewswire / May 16, 2017 - Melkior Resources Inc. (\"Melkior\") is pleased to announce that it has entered into an agreement to purchase an additional 76 claim units totaling 3,004 acres in the White Lake Area of Hemlo, Ontario (the \"Property\"), subject to the acceptance of the TSX Venture Exchange. The Property is located within the Hemlo greenstone belt, 22 km east of the Hemlo Gold Mine currently operated by Barrick Gold Corporation and 3.5 km west of the previously announced claims Melkior acquired through staking (NR, Feb 15, 2017). The Property hosts the high-grade Carroll-MacDougall gold occurrence, a historical gold occurrence named after the prospectors who first located the 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. Total consideration for the Property is a cash payment of $5,000 (paid) and the issuance of 1,500,000 common shares upon approval of the transaction by the TSX Venture Exchange. The Property is subject to a 3% net smelter return royalty in favour of the vendor. Melkior has the option to purchase one-third of the royalty at any time for payment of $1,000,000. Melkior is always searching for new opportunities and is working to enhance its claim inventory in Hemlo, Urban-Barry and in Timmins with the goal of increasing shareholder value. Melkior's Carscallen Project, Timmins, Ontario, currently has an exploration permit pending with the Ministry of Northern Development and Mines. A drill contract for 2,700 m has already been awarded for the Carscallen Project. On MNDN permit approval, the 2017 Exploration Plan will be implemented. The Exploration Plan is available on Melkior's website at: PDF.js viewer Thumbnails Document Outline Attachments Layers Current Outline Item Previous Next Highlight All Match Case Match Diacritics Whole Words Color Size Color Thickness Opacity Open Print Save Presentation Mode Current Page Go to First Page Go to Last Page Rotate Clockwise Rotate Counterclockwise Text Selection Tool Hand Tool Page Scrolling Vertical Scrolling Horizontal Scrolling Wrapped Scrolling No Spreads Odd Spreads Even Spreads Document Properties… Toggle Sidebar Find Previous Next Open Print Save Text Draw Tools...