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Melkior Resources Options 100% of the Genex Au-Cu Project (Incl. 2.26 g/t Au Eq over 33.85 metres)
Highlights: IG-20-21 historical hole intercepted 2.26 g/t Au Eq over 33.85 metres (1.14 g/t Au, 0.45% Cu 0.58% Zn) G17-09 historical hole intercepted 2.15 g/t A
About this update from Melkior Resources Inc.
[{"type":"text","content":"Highlights: IG-20-21 historical hole intercepted 2.26 g/t Au Eq over 33.85 metres (1.14 g/t Au, 0.45% Cu 0.58% Zn) G17-09 historical hole intercepted 2.15 g/t Au Eq over 39.0 metres (0.20 g/t Au, 1.17% Cu 0.14% Zn) Historical resource of 1 Million Tonnes of Copper using a cut-off grade of 1%1. No gold or zinc values were calculated in this historical resource The Genex Project was in production between 1966-1967, where it shipped 240 tons of concentrate at 21.45%-27.25% Cu (No zinc or gold recovered) Potential for delineating a polymetallic open-pitable resource while targeting a massive sulphide source and gold enrichment trends Timmins, Ontario – TheNewswire – April 20, 2022 - Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is pleased to announce that it has entered into an option agreement (the “Agreement”) to acquire 100% of the Genex Project (“Genex”) from International Explorers & Prospectors Inc (“IEP”). The Genex Project is located approximately 20 kilometres west of Timmins and borders Melkior’s Carscallen Project on its northeast boundary. Jonathon Deluce, CEO of Melkior, remarks, “We are very excited to announce this option agreement on the Genex Au-Cu VMS Project. This Project borders our Carscallen Project in the West Timmins Gold Camp and complements our partnership with Agnico at Carscallen very well. We look forward to Genex being our new Melkior-operated flagship project, where we will commence our maiden drill program this summer. Numerous major producer CEOs have highlighted the demand for Gold-Copper deposits, and with the excellent infrastructure in the Timmins Camp, it increases the prospects of the Project. The Company is well-positioned with just under $3M in the treasury and only 24M shares outstanding.” The Genex Project is an advanced gold-copper VMS exploration target with significant near-term resource potential. The zones have been historically interpreted over approximately 300 metres wide with a sub-vertical dip. Historical drilling completed along strike and across inside 500 metres of a strongly altered volcanic sequence revealed satellite gold-copper mineralization that proves the expansion potential of the system. Project Summary: Location: the Genex Project is located in the Kamiskotia volcanic belt extending northwest of Timm...