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Melkior Resources Announces Commencement of 4,200M Drill Program at Carscallen
Highlights: Drilling is underway at Carscallen, with 4,200 meters currently budgeted for this program across 3 targets Drilling has started in the Shenkman Zone
About this update from Melkior Resources Inc.
[{"type":"text","content":"Highlights: Drilling is underway at Carscallen, with 4,200 meters currently budgeted for this program across 3 targets Drilling has started in the Shenkman Zone, with targets being finalized to follow up on recent discoveries north of the ZamZam Zone and new targets surrounding the Mystery Zone The Shenkman Zone has the potential to deliver high-metal factor intercepts as seen in 2012 with 51.9 g/t Gold over 3.7 Meters, 2019 with 23.5 g/t Gold over 8.0 Meters and 2020 with 25.7 g/t Gold over 6.0 Meters. Timmins, Ontario – TheNewswire – June 14, 2022 - Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is pleased to announce an update on its drilling commencement for the $110 million strategic investment and partnership with Agnico Eagle Mines (Previously Kirkland Lake Gold) at the Carscallen Project located approximately 25 kilometres southwest of Timmins Ontario. This program is being operated by Agnico Eagle Mines (“Operator”) under the option / joint venture announced on Sept 28, 2020. As of May 2022, there was approximately $1.2M of work commitment left to be spent by September 2022 to meet the minimum commitment. Drill Program Drilling at the Project is currently underway, with a minimum of 4,200 meters budgeted over this summer program. Details of the drill targets will be provided in a subsequent news release, but the program will start by targeting the Shenkman Zone, which has the potential to deliver high-metal factor intercepts as seen in 2012 with 51.9 g/t gold over 3.7 meters, 2019 with 23.5 g/t gold over 8.0 meters and 2020 with 25.7 g/t gold over 6.0 meters. This drill program will target areas immediately along strike and dip of these strong historical intercepts. This drill program will also target the area north of the ZamZam Zone to follow-up on recent intersected high-grade values in an under-drilled area up to 300 meters north of the current surface trenching. CAR-21-18, collared approximately 50 meters northwest of the ZamZam/Jowsey Zone, intersected 6.88 g/t gold over 1.5 meters from 384.5 to 386 meters, including 19.6 g/t gold over 0.5 meters from 385.5 to 386.0 meters. Drill hole CAR-21-19, collared 300 meters north of CAR-21-18, intersected 5.84 g/t gold over 1.5 meters from 400.0 to 401.5 meters including 16.1 g/t Au, 83.6 g/t Ag, .33% Cu and .23% Zn over 0.5 me...