Highlights :
- A six-hole winter drill program with a total of 1,050 drill metres is under way at the Beschefer East Project. This drill program will test new targets identified from abiogeochemical gold-copper anomalous region that was identified using the black spruce tree bark sampling method. This target was selected for testing, considering the strong overlap between metal signatures and ground Induced Polarization (IP grid. The target area spans 800 metres in a region previously untested by drilling.
Figure 1 Drill Location Map (SIGEOM Regional Tilt Magnetic data)
Drill Program
A six-hole drill program with a total of 1,050 metres is underway at Beschefer East Project. The target area spans 800 metres in a region previously untested by drilling. Individual drill holes ranges in depth from 150 to 200 metres.
The primary objective of this drill program is to test the new targets identified from the biogeochemical gold-copper anomalous region. It was previously identified using the black spruce tree bark sampling method. This target was selected for testing, considering the strong overlap between metal signatures and the ground Induced Polarization (IP) grid. A line cutting and data acquisition survey was recently completed, east of the target area. The Company has received the preliminary data. The three 1.5 km IP lines completed will give insight into the possibility to expand the target zone.
MMI, Bark & High-Resolution Magnetic Programs
In preparation for the drill program the Company completed an MMI, tree bark sampling and a high-resolution magnetic program with the following highlights:
- Five (5) new gold-copper targets were identified using the black spruce tree bark sampling method.
- Three (3) copper-lead-zinc targets were identified using the mobile metal ion sampling method.
- There has been limited historical drilling on the new targets identified, as the majority of historical drilling has been focused on the basalt and tuff geological units while the anomalies presented are located primarily in felsic rocks.
- The Company executed a quality high-resolution airborne magnetic survey which confirmed trends over these strategic targets.
A total of 518 MMI samples were collected over two unique grids at Beschefer East (see Figure 2), while 1,780 black spruce tree bark samples were collected using 100m X 100m spacing across the entire sampling grid (see Figure 4).
The helicopter-borne survey was carried out by Prospectair, based out of Gatineau, Québec and totaled 968 line kilometres. The magnetometer used for the survey consisted of a non oriented (strap-down) optically-pumped Cesium split-beam sensor (Geometrics G-822A).
An area of 34km2 was covered by using a line spacing of 50 metres and N150 Azimut to optimize the clarity and detail of subtle structures. In addition, the Company completed two infill blocks covered with lines every 50 metres, but offset by 25 metres to the main blocks lines. This effectively provided a 25m line spacing within the infill blocks.
Figure 2: MMI & Bark Interpritation – Target D Winter Drill Target
Figure 3 – MMI Sampling Grid
Figure 4 – Bark Sampling Grid
Figure 5 – High Resolution Magnetic Survey
Genex Update
On January 1st, 2025, the Company and International Explorers & Prospectors Inc. appointed an arbitral tribunal to determine the parties’ rights and obligations under their option agreement dated April 19, 2022, in respect of the Genex Project (see the Company’s new release dated April 20, 2022 for additional information). The parties are working toward setting a hearing date, which is expected to be scheduled June 2025 or later this year.
Stock Options
The Company announces that, subject to regulatory approval, it has approved the grant of 1,200,000 incentive stock options to directors and an officer of the Company. The options are exercisable at an exercise price of $0.08 per share for a period of up to five years.
Qualified Person
All technical information in this press release has been reviewed and approved by Martin Ethier, PGeo (# 1520) consultant for Melkior, who is a member of the Order of Geologists of Quebec and a qualified person as defined under NI 43-101.
About Melkior Resources
Melkior Resources Inc. is an exploration-stage resource company operating in world-class mining jurisdictions across Quebec and Ontario. The company is dedicated to advancing a portfolio of high-potential mineral properties with a primary focus on gold exploration.
Melkior’s flagship projects include the Carscallen Project, the Beschefer East Project, the Genex Project and the Val-d’Or Project. These projects are strategically located in the Abitibi Greenstone Belt, known for hosting significant gold and base metal deposits.
About SOQUEM:
SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec’s mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future.
ON BEHALF OF THE BOARD
Keith James Deluce, Director
For more information, please contact:
Melkior Resources Inc.
E-mail: [email protected]
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.