Ottawa, Ontario. Melkior Resources Inc. (“Melkior”) (TSX.V: MKR; OTCPK: MKRIF; FSE: MEK) is providing results from a surface channelling program completed in November 2013 on its Carscallen Gold Project in Timmins, Ontario. The program was undertaken concurrently with drilling to evaluate the near surface portion of the ZamZam zone to permit a preliminary near surface resource calculation.
ZamZam is the northern portion of the ZamZam-Shenkman-Mystery system of gold bearing veins that have been detected over a distance of approximately 1,000 metres and drilled at 50 to 100 metre spacing to a depth of 400 metres. Approximately 90% of the holes drilled have encountered gold values of greater than 1 g/t and widths of up to 13 metres. Gold occurrences are widespread on the Carscallen property with a total of seven zones discovered to date.
The results from the detailed ZamZam drill program have been announced in earlier news releases (please refer to news releases dated November 28th, 2013 and February 28th, 2014) and have defined a portion of ZamZam measuring 260 metres in length and to a depth of 80 to 115 metres. The holes were spaced at 25 to 30 metres.
The presently announced channel sampling was undertaken to extend the drilled zone to surface. A close spacing of 2 metres between samples was undertaken to understand, in detail, the variation in the grade and width along a portion of the vein or vein systems.
Some of the values encountered in drilling beneath the veins were reported in the following holes: 40.40 g/t over 0.65 metres (CAR-86-2013), 34.06 g/t over 1.50 metres (CAR-87-2013) and 80.50 g/t over 0.55 metres (CAR-88-2013) (please refer to press release dated November 28th, 2013).
The north-south trending ZamZam zone was sampled by 14 parallel east-west channels spaced at approximately 2 metre intervals over a strike length of 24.70 metres. Table 1 displays the results.
Table #1 – Channel sample results
| Channel # | Interval (Metres)* | Gold (g/t) |
| CH-01-2012 | 1.00 | 16.25 |
| CH-02-2012 | 3.00 | 2.36 |
| CH-03-2012 | 1.00 | 11.10 |
| CH-04-2012 | 2.00 | 3.28 |
| CH-20-2013 | 0.50 | 55.80 |
| CH-21-2013 | 0.50 | 34.50 |
| CH-22-2013 | 0.60 | 62.30 |
| CH-23-2013 | 0.45 | 79.30 |
| CH-24-2013 | 0.50 | 25.60 |
| CH-25-2013 | 0.50 | 12.35 |
| CH-26-2013 | 0.40 | 20.20 |
| CH-27-2013 | 0.30 | 68.40 |
| CH-28-2013 | 0.60 | 5.61 |
| CH-29-2013 | 0.60 | 7.15 |
* The intervals are believed to represent true widths.
Conclusion
Melkior is encouraged by the consistent results returned from the ZamZam zone. The results continue to demonstrate that high-grade gold mineralization occurs in a vein structure which can be traced along strike and at depth. The next step is a calculation of the grade and tonnage of the near surface portion of the ZamZam zone. The overall structure consists of multiple veins and in places, stockworks. The veins alternate from narrow high grade sections to wider lower grade sections in three dimensions.
Future Plans
The current program has sufficiently spaced drilling to permit a preliminary near surface resource determination.
Deeper drilling of the ZamZam-Shenkman-Mystery has demonstrated that the veins in the granite originate from an underlying volcanic host. It is believed that the gold originates in the volcanics and has been intruded into fractures in the granite. This strongly suggests that the major potential for the property is within the underlying volcanics. Hole CAR-79-2012, which sampled the volcanics, encountered both gold and copper (2.54 g/t gold over 10 metres and 3.55% copper over 1.35 metres) at a depth of approximately 400 metres (please refer to press release dated March 26th, 2012).
A comprehensive drilling program in the volcanics will be undertaken when conditions permit.
Quality control
Core processing included descriptive logging and systematic sampling for analysis. The drill core was sawn in half, with one-half delivered to a commercial laboratory and the other half retained for future reference. Samples were submitted to ALS Chemex Laboratories in Timmins, Ontario. The processed samples were subjected to a standard fire assay with AA technique (Au-AA23) on a 30-gram subsample. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. For samples returning greater than ten g/t gold, follow-up analysis using fire assay with a gravimetric finish is completed. Samples from high grade intersections were sent using a different procedure before the fire assay. It is a screening process using a 1000 gram subsample. Following receipt of assays, visual analysis of mineralized intercepts is conducted, and additional analyses may be requested to ensure the accurate representation of the mineralized zones.
This press release was prepared by Dr. Eric Hebert, PGeo, of GeoVector Management Inc., qualified person under National Instrument 43-101. Dr. Hebert has supervised the diamond drill program, logged the core, designed the sampling program and reviewed the quality control information.
About Melkior:
Melkior is a junior exploration company with active exploration projects in West Timmins and holds several other exploration properties.
For more information:
Jens E. Hansen, President and CEO
Melkior Resources Inc.
Tel: 613.721.2919
Fax: 613.680.1091
E-mail: [email protected]
Web: 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.
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.