Melkior Drills 1566 Metres at Carscallen, West Timmins Gold District, Ontario
Ottawa, Ontario CANADA, July 17, 2012 /FSC/ - Melkior Resources Inc. (MKR - TSX Venture), completed 1566 metres of drilling on its 100% owned Carscallen gold property in West Timmins, Ontario, in July. The program included two deep holes and the extension of an already existing hole. Partial assays have been received for extended hole CAR-61X-2012. The assays for CAR-81-2012, CAR-82-2012 and remainder of CAR-61X-2012 will be reported once they are available.
CAR-61X-2012 was drilled at an azimuth of 240 degrees and a dip of -75 degrees extended from a depth of 350 metres to the final depth of 625 metres. The contact between the granite and the mafic volcanic rocks occurs between 360.80 and 367 metres and consisted of alternating small granite injections and hematized mafic volcanic rocks. Ankerite alteration and disseminated pyrite and quartz veins are present in the volcanics between 429.00 and 439.70 metres; a quartz feldspar porphyry dyke was also encountered between 400.10 and 413.33 metres. Hole 61 was originally terminated in granite at 350 metres after intersecting the Shenkman gold zone assaying 13.3 metres of 4.84 g/t gold from 272 to 285.3 metres (see Press Release January 11th, 2011). At the time of the original drilling, Melkior was not aware that the granite - mafic volcanic contact was a target for gold mineralization. The hole was extended to investigate the thickness of the granite and the nature of the underlying volcanics. The granite - volcanic contact intersected gold from 364 to 366 metres grading 5.87 g/t Au. A number of anomalous background gold values were also encountered from 399 to 409 metres grading 0.27 g/t (on 10 metres, which consist of a quartz porphyry dyke); from 511 to 514.7 metres grading 0.66 g/t Au (on 3.7 metres, which consist of mafic volcanic rocks with 1% disseminated pyrite); and from 538 to 540.5 metres grading 0.7 g/t Au (2.5 metres, consisting of local pyrite stringers). Thirty three assays are still pending. Results reported in this press release are from intersections between 350 metres to 566 metres core length.
Holes CAR-81-2012 and CAR-82-2012 were drilled to intersect and expand the newly discovered gold zones in volcanics underlying the Shenkman zone encountered by hole CAR-79-2012 and CAR-80-2012, grading respectively 2.54 g/t Au over 10 metres and 51.92 g/t Au over 3.70 metres (see Press Release March 26th, 2012 and April 12th, 2012).
CAR-81-2012 was drilled at an azimuth of 240 degrees and a dip of -80 degrees with a final depth of 602 metres. Several fault zones were intersected below 200 metres. The contact between the granite and the mafic volcanic was encountered at 390.80 metres. Mineralization was also encountered between 409 and 417 metres consisting of pyrite veinlets and stringers as well as zones of semi-massive pyrite (results are pending).
CAR-82-2012 was drilled at an azimuth of 265 degrees and a dip of -75 degrees with a final depth of 689 metres. The granite - mafic volcanic contact was encountered at 378.50 metres. No Mineralization was encountered at the contact; however previous holes in the area have revealed gold concentration at or near the contact zone. Mineralized zones were encountered from 408.30 to 426.60 metres; from 501.33 to 540.90; and from 554.15 and 562.55 metres. These zones consist of pyrite mineralization in form of veins, veinlets and stringers along with carbonate (results are pending).
Approximately 500 samples have been sent for assay (both gold by fire assay and ICP scan for multi-elements).
This Press Release was prepared by Dr. Eric Hebert, P.Geo of GeoVector Management Inc.
About Melkior:
Melkior is a junior exploration company with active exploration projects in West Timmins and holds several other exploration properties of which the most important is the 100% owned Launay gold property in West Quebec.
For more information:
Melkior Resources Inc.
Tel: 613.721.2919
Fax: 613.680.1091
E-mail: melkior@rogers.com
Web: www.melkior.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Melkior's periodic reports including the annual report or in the filings made by Melkior from time to time with securities regulatory authorities.
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Source: Ressources Melkior Inc. (TSXV MKR) www.melkior.com
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