Melkior Resources Advances on Several Fronts on Maseres
TSX VENTURE: MKR
Timmins, Ontario - TheNewswire - July 11, 2019 - Melkior Resources Inc. ("Melkior") (TSXV:MKR) is pleased to announce that the field crews on the Maseres property (the "Property") are well at work with more than 200 outcrops visited, mapped, located and described with more than 50 samples sent to the laboratory. Approximately 40% of the Property has been covered with emphasis on Geotech's airborne EM conductors and junction of structures which are potentially favorable for base and precious metals respectively.
The geological units observed in the north half of the Property mostly consist of amphibolite and pegmatite dykes as well as sedimentary formations. Gneisses and tonalite bodies were also observed away from the sedimentary formations.
The EM conductors are explained by sulphide rich formational horizons accompanied by banded silica and iron oxides (pyrrhotite, chert, pyrite, magnetite and graphite), probable Sulphide Iron Formation (BIF). Local and punctual chalcopyrite specs were also observed.
Potential evidence of hydrothermal alteration was located approximately 100 meters NW of surface conductor No.3 containing centimetric veinlets of red feldspar, quartz, green sericite and 1% pyrite coincidentally nearby the best A-Horizon Au result.
These observations will be followed up by detailed mapping and sampling and the following work program:
- Continue the prospection of geophysical targets such as areas of increased conductivity.
- Continue the validation of areas where a reduction in the conductivity associated with low magnetic anomalies (possible alteration zone with mineralization).
- Verify the obvious targets along faults, especially fault intersections in the northern and southern parts of the property.
- Complete the reconnaissance mapping of the Property, outside of the EM survey limits with emphasis on areas of interpreted faults and their intersections.
- Outcrop stripping on the BM3 anomaly and detailed mapping of surroundings to improve understanding of the potential hydrothermal alteration found on outcrop #LG-19-019-MM (permit authorization in process and in demand).
- Thin section on sample #A0364454 to confirm mineralogy of veinlets and alteration.
- Other Beep Mat conductive detected responses with precise location coordinates could be stripped by mechanical shovel in order to improve geological understanding with potentially favorable alteration/mineralization associated with the formational horizons and BIF (permit authorization in process and in demand).
- A till sampling program should be designed and executed to determine the presence of mineralized systems and structures in poorly outcropping areas and swampy areas.
- IP-Resistivity survey in swampy areas and thick overburden covered areas to determine winter drill targets on potentially mineralized structural systems.
- Shoreline Geology by boat will be conducted.
- The southern half of the Property will be covered by an autonomous prospecting team.
- In Abitibi, gold is almost always found in magnetic lows or flat zones (due to magnetic destruction associated with carbonate alteration, silicification, etc.). Both the Windfall and the Barry deposits are associated with altered dykes represented by magnetic lows. From the interpretation of the MERN (Ministere de l'Energie et des Ressources Naturelles du Quebec) Mag Map we can see several NE-SW oriented structures just like the Maseres-Windfall metallogenic structure zone.
- It seems entirely possible that the Maseres Property lies along the same folded feature as the Urban-Barry metallogenic structures and therefore an emphasis for prospecting for gold host structures should be planned.
- Nearby ESE of the Maseres Property, the Mercier complex of REE minerals occurrences have been the site of advanced exploration efforts including diamond drilling with up to 8906 ppm TREO over 2.4 m (including 20770 ppm TREO over 1.28 m) obtained between 2008 and 2011 by Threegold Resources Inc. See attached Urban-Barry Compilation Maps
- With rising prices of Rare Earth Elements (REE) due to the current trade issues between Canada, US and China, it will be primordial to look for REE potential, particularly in quartzo-feldspathic gneisses, pegmatites, amphibolite and granitic gneiss units observed on the Maseres Property of Melkior. A scintillometric survey should be carried out while completing prospection traverses on the Property. Moreover, from compiling and reviewing the assay results from the recent drill campaign, several anomalous (REE) scandium values (up to 2490 ppm Sc) were observed to be associated with mafic geological units and could represent a background to higher concentrations elsewhere on the Property.
Alain-Jean Beauregard, PGeo, has approved the information contained in this release. Mr. Beauregard is the President of Geologica who is providing contract services for Melkior and is a qualified person as defined by National Instrument 43-101
ON BEHALF OF THE BOARD
Keith James Deluce, CEO
For more information, please contact:
Melkior Resources Inc.
The reader is invited to visit Melkior's web site www.melkior.com.
Forward-looking Statements: This news release may contain certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Melkior expects to occur, are forward looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this document include statements regarding current and future exploration programs, activities and results. Although Melkior believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing, inability to obtain required regulatory or governmental approvals and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.
Melkior has referenced certain drill results of mineral exploration projects which neighbor or are in close proximity to Melkior's mineral exploration properties. The results of such other proximate mineral exploration projects should not be relied upon to determine future expectations and results at Melkior's mineral exploration projects as there are no assurances of similar results.
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