Source
MARKET NEWS
Date 11/12/2014
Time 06:23:59 AM
Company
Melkior Resources Inc.
Title Reports
7.9 G/t Au Over 2.5 Metres On Wire Gold
CDNX Symbol: MKR
Press Release
MELKIOR RESOURCES INC ("MKR-V;MKRIF-0")
- Reports 7.9 G/t Au Over 2.5 Metres On Wire Gold Channel
- Sampling Program
Melkior Resources Inc. ("Melkior") is pleased to report the latest
results from a channel sampling program on the Wire Gold showing
located approximately 500 metres east of the Shenkman/Zam Zam gold
zones in Carscallen Township 25 kilometres west of Timmins Ontario. The
Wire Gold occurrence was known for producing spectacular samples of
visible gold and consists of an oxide facies iron formation trending
north south hosted within mafic metavocanics that are, in turn,
crosscut by east-west trending quartz-carbonate in filled tension
gashes.
Channel sampling on the north portion of the exposure produced
11.4 g/t Au (gold), 4.4 g/t Ag (silver) over 1.0 metre, 9.93 g/t Au,
3.7 g/t Ag over 0.5 metres and 3.37 g/t Au, 1.8 g/t Ag over 1.0 metre
or 7.98 g/t Au, 2.87 g/t Ag over 2.5 metres. The samples occurred
within what is described as a brecciated transitional zone along the
contact between the mafic volcanics and banded iron formation with late
cross-cutting quartz-carbonate infilled tension gashes and coarse
grained pyrite.
On a separate location approximately 30 meters southeast of these
channel samples, another sample returned 10.3 g/t Au over 1.0 meter (
reported in Oct 21, 2014 press release) and occurred within east-west
trending quartz-carbonate infilled tension gashes crosscutting the
contact between the mafic metavolcanics and banded iron formation. It
has been suggested that these transitional breccia zones along the
contacts may represent feeder zones with sulphide rich matrices and
late crosscutting quartz carbonate tension gashes acting as
repositories for hydrothermal gold bearing fluids.
Melkior plans to drill under the two separate locations that may
represent these sulphidized feeder breccia zones within the next two
weeks. This will be the first time Melkior has drilled under the Wire
Gold showing. Overburden is typically quite shallow which facilitates
exploration at Carscallen. Based upon the similarities in gold
mineralization settings with the nearby Shenkman/Zam Zam gold zones, it
has been hypothesized that there may be a common feeder system to these
gold zones.
The channel samples were cut and delivered to a commercial
laboratory. Samples were submitted to Actlabs Laboratories in Timmins,
Ontario. The processed samples were subjected to a standard fire assay
with AA technique on a 30-gram sample. On each tray of 42 samples there
are two blanks, three sample duplicates and 2 certified reference
materials.
The contents of this press release have been reviewed by Peter
Caldbick, P.Geo, the Timmins area Project Manager for Melkior Resources
Inc. and a Qualified Person as defined by National Instrument 43-101.
About Melkior:
Melkior is a mineral exploration company with active gold
exploration projects in West Timmins, Ontario and Launay, Quebec.
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.
TSX Venture closing price for MKR-V
Date: 2014/11/11
Closing Price: 0.04
TEL: 613.721.2919 Jens E. Hansen, President and CEO
Melkior Resources Inc.
FAX: 613.680.1091
EMAIL: info@melkior.com
INTERNET: www.melkior.com
____________________________________________________________
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