Highlights:

• - 14.76 g/t Gold over 2.0 Meters (m), Including 60.5 g/t Au over 0.5m, 8.93 g/t Au over 3.0m , 6.85 g/t Au over 4.1m, 7.79 g/t Au over 2.0m and 6.18 g/t Au over 2.0m.

  - 71% hole hit ratio based on intersecting a metal factor interval of 12g/t Au or more.

  - Drilling is estimated to resume during Q2 2021, with 4,000 meters currently budgeted for the remainder of the year.

 

March 31, 2021 - TheNewswire - Timmins, Ontario - Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is pleased to announce results from 4,440.0 meters of drilling (5,618m program) on the Carscallen Gold project located approximately 25 kilometers southwest of Timmins Ontario. The total meters were cut short from the previously announced 6,660-meter extension due to a drill permit limitation.

 

Program Highlights:

• - The Carscallen gold project lies within the township of Carscallen, approximately 25 kilometers southwest of Timmins, Ontario. It is comprised of 295 claim units covering 47 square kilometers with 100% ownership by Melkior.

  - The drill program consisted of 5,618 meters.

  - Assay results have been returned for the first 7 holes and are pending for the last 2 holes with visual indications of mineralization.

 

Jonathon Deluce, CEO of Melkior, remarks, “We are excited to announce our first results from the Kirkland Lake Gold Partnership at Carscallen. We continue to extend the Shenkman Zone to the south-east and demonstrate continuity to our high-grade gold system. We look forward to the summer field program and remaining drilling planned for 2021.”

 

Significant Assay Table

Hole-ID	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Cu (%)	Zn (%)
CAR-20-08	400.5	401.0	0.5	7.39
CAR-20-09B	534.5	537.5	3.0	8.93	3.6		0.26
Incl.	537.0	537.5	0.5	38.8
	553.0	556.0	3.0	1.92
Incl.	555.5	556.0	0.5	5.66	5.0		1.1
	734.5	735.0	0.5	1.26	4.6		0.26
	741.5	742.0	0.5	3.28	4.9		0.99
CAR-20-10	408.45	412.6	4.1	6.85
Incl.	412.1	412.6	0.5	40.1
CAR-20-11	293.7	298.8	5.1	2.25
Incl.	293.7	294.2	0.5	12.3
	407.5	408.5	1.0	3.83
CAR-21-12	464.5	465.0	0.5	7.46
	480.9	483.0	2.1	14.76
Incl.	489.9	481.4	0.5	60.5	55.6	0.13
CAR-21-14	376.0	378.0	2.0	6.52
	405.0	407.0	2.0	7.79
Incl.	405.0	405.5	0.5	31.0

* Stated lengths are core lengths as drilled. True widths are estimated to be 80% of reported core length intervals.

** Drill hole CAR-20-07 was terminated early at 177 meters due to intense faulting. CAR-21-13 did not return any significant values.

 

Plan View:

 

Click Image To View Full Size

 

**The intercepts in grey (CAR-19-03A,CAR-20-05,CAR-80-2012,CAR-20-06 & CAR-17-13) refer to historical results announced during prior programs.**

  

Hole ID	Easting UTM	Northing UTM	Length (m)	DIP	Azimuth
CAR-20-08	451918	5357800	750	-60	240
CAR-20-09B	452026	5357874	804	-62	240
CAR-20-10	452019	5358161	705	-65	240
CAR-20-11	451880	5358018	581	-67	240
CAR-21-12	451979	5358019	654	-75	240
CAR-21-14	451979	5358019	669	-70	278
CAR-21-15	451978	5358020	627	-70	248
CAR-21-16	451979	5358020	651	-78	250

 

The drill program was performed and managed by Kirkland Lake Gold. The drill core was split with half sent to Actlabs in Timmins, ON, and fire assayed with an AA and gravimetric finish. Whole metallic assays are performed on samples greater than 10 g/t gold and samples containing visible gold. In addition, all seven drill holes were treated with the 1E3 36 element multi-element package with aqua regia analyses. Duplicates, standards, and blanks were inserted into the sample stream.

 

Carscallen Next Steps:

• - Drilling is estimated to resume during Q2 2021, with a minimum 4,000 meters currently budgeted for the remainder of the year.

  - Historical geophysics review is underway to assist with exploration targeting.  

  - This summer, a field program will be conducted to review the historical trenches in the Zam Zam Zone for structural trends to complement and augment future drilling strategies.

 

Qualified Person

All technical information in this press release has been reviewed and approved by Peter Caldbick, P.Geo. Mr. Caldbick is a consultant for Melkior and a Qualified Person for the purposes of National Instrument 43-101.

 

ON BEHALF OF THE BOARD

Jonathon Deluce, CEO

 

For more information, please contact:

Melkior Resources Inc.

E-mail: info@melkior.com

Tel: 226-271-5170

 

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

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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.