Timmins, Ontario. Melkior Resources Inc. (“Melkior” or the “Company”) is pleased to announce that it has acquired by staking 33,800 acres in the Urban area of Quebec consisting of 260 cells. The claims are located in the vicinity of properties held by Osisko Mining Inc., Beaufield Resources Inc., BonTerra Resources Inc., and Durango Resources Inc.
Melkior’s review of available geological and geophysical information and historical work in the Urban Area identified the area selected for map-staking. A 1992 airborne geophysical survey filed with the Quebec government identified a significant conductive trend with associated electromagnetic anomalies that was available for staking. The area map-staked by Melkior contains approximately one-third of the conductor described in the report. The electromagnetic signature of the conductor has been described within the 1992 report as “…a long formational trend..” that “does not conform with any of the geologic maps of the region, obviously indicating [that] a complete re-assessment of the rocks in this region will be needed.” The author of the report further expressed the opinion that the conductive zone “extends westerly off the western survey boundary and is thought to fold to the north northeast, perhaps coinciding with” … “the east shore of Lac Maseres”.
The results of the 1992 geophysical survey, the locations and distribution of gold occurrences, together with geophysical data available from the Quebec government suggests that the area map staked by Melkior may be a folded continuation of the geologic units that trends through Souart, Urban and Barry Townships.
Of note is that within the central area acquired by Melkior the trend of the “formational conductor” appears to be folded again and may cross Melkior claims to the southwest.
Jim Deluce, CEO of Melkior states, “I am extremely excited to have engaged Melkior in the exploration enthusiasm that surrounds the Urban Area of Quebec. This land package could represent the continuation of the same lithology that hosts the Osisko Windfall Deposit. Melkior’s new land package has extraordinary potential and was acquired for minimal cost. Melkior is committed to adding value for the shareholders.”
Melkior remains committed to implementing an exploration program this spring on its flag ship Carscallen Project. The drilling contract has been awarded, pending the permitting process, to begin in the later part of May 2017.
Wade Kornik, P.Geo., has approved the information contained in this release. Mr. Kornik is a consultant to the Company 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.
E-mail: [email protected]
Tel: 705-267-4000