Business
Urban Area, Melkior Maseres Project Update
(via TheNewswire) Timmins, Ontario / TheNewswire / June 20, 2017 - Mel...
About this update from Melkior Resources Inc.
[{"type":"text","content":"Urban Area, Melkior Maseres Project Update(via TheNewswire)\n \n \nTimmins, Ontario / TheNewswire / June 20, 2017 - Melkior Resources Inc. (\"Melkior\") is pleased to announce the reconnaissance program on the Maseres Project has been completed, assays are pending and an Area of Interest has been identified. Reconnaissance was focused over a substantial trend of historic airborne EM anomalies in the northeastern corner of the Maseres Project to determine if there is a correlation between gold mineralization and the \"formational conductor\" on the Maseres Project.\n\n \n \nThe Maseres Project is located about 14 km southwest of the Osisko Black Dog Deposit. The Black Dog Project has been reported by Osisko to be a gold-silver-copper discovery in a volcanic sequence coincident with magnetic and electromagnetic anomalies and disseminated to semi-massive Au-Ag-Cu bearing sulfides. The Black Dog appears to be on the same magnetic trend as Bonterra's Gladiator Project. One interpretation of magnetic geophysical data suggests that this magnetic trend is folded and continues through Melkior's Maseres Project. Mineralized boulders north of Melkior's property boundary and co-incident with this formational conductor have been reported to contain 11 ppm gold and 2% copper (NR April 13, 2017).\n\n \n \nObservations from the reconnaissance program indicate there are extensive sand and gravel deposits in this area. Topographically elevated areas are generally expressions of glacial deposits, not bedrock. Large rounded granitic boulders, up to the size of a small house, are present. Bedrock is not common. The bedrock that was observed supports the Maseres project area is underlain by the southern extension of the Urban-Barry greenstone belt. \n\n \n \nAn area of interest has been established within the hinge of an inferred multi-kilometer scale fold. This area of interest is defined by a relative abundance of large angular locally gossanous boulders, that lie within close proximity to each other. In some cases, these angular, delicate and fragmented boulders are situated on top of very angular rocks of the same composition that in turn are in very close proximity to where bedrock of the same composition has been observed. The bedrock observed is consistent with a moderately metamorphosed transitional sequence of mafic to felsic volcanic rock, ...