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Melkior Resources Stakes Additional Claims in Hemlo District
Timmins, Ontario / TheNewswire / August 24, 2017 - Melkior Resources Inc. ("Melkior") is pleased to announce that an additional 38 claim units (1,502 acres) hav
About this update from Melkior Resources Inc.
[{"type":"text","content":"Timmins, Ontario / TheNewswire / August 24, 2017 - Melkior Resources Inc. (\"Melkior\") is pleased to announce that an additional 38 claim units (1,502 acres) have been acquired by staking in the White Lake Area and Bryant Township. These claims are contiguous with all previously acquired claims. The total area of the White Lake Project is now 328 contiguous claim units (12,966 acres). The White Lake Project is located approximately 15 km northeast of the Hemlo Gold Mine currently operated by Barrick Gold Corporation. Melkior's claim group adjoins Canadian Orebodies Inc. and is 3 km west of claims held by Golden Peak Minerals Inc. Melkior's White Lake Property is situated in the northeastern portion of the Hemlo Greenstone belt, which has only seen sporadic interest over the last four decades since the Hemlo staking rush. The White Lake Property has been partially covered by an Airborne Geophysical Survey (Aerodat Limited, 1989) and subject to multiple Magnetometer, VLF, IP, 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. In June 2017, Melkior made a site visit to the Carroll-MacDougall gold occurrence, samples were taken and confirmed its gold bearing nature with values up to 19.2 g/t gold. The structure hosting the Carroll-MacDougall gold occurrence is parallel to and within one meter of a transition from mafic to felsic volcanic rock. This contact zone has been reported to be auriferous over about 100 meters. The newly staked claim units cover the southeastern extension of the North Limb of the Hemlo Greenstone Belt to the limit of a Provincial Alienation. The geological compilation map (Map 2614, Muir, T.L. 2000) indicates the greenstone belt strikes NW-SE and that a gold occurrence is present on the newly staked claim group close to the southern boundary. Further to the NW of this gold occurrence within the newly staked claims, the geological map also indicates two additional molybdenum occurrences. In the Hemlo Area there i...