Prosper Gold

Melkior Resources Completes Maiden Drill Program at Val D'Or

Highlights:

  • 1,449M drill program has been completed during our maiden drill program at Val D’Or

  • The program targeted geophysical anomalies that could be related to one or multiple western extension of the "Vein Zone" area being explored by Eldorado Gold Corporation

  • The completed drilling encountered multiple mineralized zones that explain the targeted geophysical anomalies.

April 8th, 2021 – TheNewswire - Timmins, Ontario - Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is pleased to announce that drilling on its Val d’Or Property has been successfully completed. 1,449 meters (m) of drilling was completed, and 705 samples were obtained during the process.

Multiple mineralization and alterations were discovered during this drill program which correlate well with pathfinders defined in the historical Bruell gold discovery, located 240m east of the Property.  The most significant observations during the Company’s core logging include :

  • 4m of brecciated and silicified volcanoclastics hosting quartz veinlets (Photograph 1)

  • Up to 10% of fine and disseminated pyrite in multiples sections

  • A breccia and a shear zone associated with a mineralized quartz conglomerate (Photograph 2).

  • Multiple other observations associated with gold mineralization at Bruell include: titaniferous magnetite, bleaching of the host rock, quartz veins, sulphide mineralization that are associated with QFP dykes or shear zones (Photograph 3), and sulfides without the presence of any QFP dyke.

Some mineralization observed also correlate well with the historical mineralization that resulted in 3.9 g/t Au over 0.30m between 193.88 and 194.18m (Perron & Guay, 1988) (see news release dated March 17th, 2021). The historical logging mention that “the gold anomalies are associated with quartz, calcite and pyrite veins located at the contact between the basalt and the QFP.” The core reviewed in VDE-21-08 show a mineralized sheared basalt at the contact of a QFP. This is located at a depth corresponding well with the along dip extension of the historical drill hole.

Figure 1. Location of the Drill Holes and Significant ObservationsJunior Mining Network

Photograph 1. Mineralized and brecciated volcanoclastics Junior Mining Network

Photograph 2. Mineralized Quartz ConglomerateJunior Mining Network

Photograph 3. Mineralized Shear ZoneJunior Mining Network

Methodology

A total of 705 samples were collected (including 72 QA/QC samples) and sent to Agat laboratories for gold and metal assaying in Val d’Or. Gold is assayed using the 202-051 Au package from AgatLabs, which consists of AAS pyroanalysis assay. Base metal and other elements in rocks are assayed using 201-070 package from Agatlabs, which consists of 4 acid digestion with ICP-OES finish. A suite of 43 elements are analyzed: Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cu, Fe, Ga, In, K, La, Li, Mg, Mn, Mo, Na, Ni, P, Pb, Rb, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn and Zr.

Bibliography

Perron, L., Guay, P., 1988: Rapport de travaux d'exploration 1987-1988, Projet Vauquelin #466. Mines Messeguey inc, GM 47581.

Qualified Person

This press release was prepared by Steven Lauzier, P.Geo, OGQ and Pierre-Alexandre Pelletier, P.geo OGQ, both are qualified person as defined under National Instrument 43-101, and both has reviewed and approved the geological information provided in this news release

About Melkior Resources

Melkior Resources is an exploration stage resource company with strong partners in world-class mining jurisdictions. Melkior’s flagship Carscallen Project is being advanced by Kirkland Lake Gold through a $110M option/joint venture agreement. Melkior’s White Lake Project is being advanced by Barrick Gold through a $4M option/joint venture agreement. Melkior under 100% ownership is focused on advancing it’s Val D’Or and Maseres Projects in Quebec. Kirkland Lake Gold currently owns approximately 6% of the Company.

ON BEHALF OF THE BOARD

Jonathon Deluce, CEO

For more information, please contact:

Melkior Resources Inc.

E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Tel: 226-271-5170

The reader is invited to visit Melkior's web site 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.

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