Timmins, Ontario / TheNewswire / April 17, 2018 – Melkior Resources Inc. (“Melkior”) is pleased to announce the staking of an additional group of claims contiguous with the Maseres Project in the Urban Barry area of Quebec. The staking of the additional claims was based on a review of the preliminary data of the recently completed 2,170-line kilometer GEOTECH VTEM plus time-domain helicopter borne magnetometer and EM survey. Final maps, reporting and interpretation of the VTEM survey are forth coming and will be the subject of a future news release.
A link is provided ( https://www.melkior.com/ post_vtem_new_claims .pdf ) to a map that illustrates the location of the new claims within the developing Urban-Barry Gold Camp. This map also provides a preliminary representation of the extent of some of the conductive trends interpreted from the preliminary VTEM data. This news release will be more comprehensive if read in conjunction with the above map as it provides context for the following discussion.
The Maseres Project is located about 14 km southwest of the Osisko Black Dog Project. The Black Dog Project has been reported by Osisko to host a gold-silver-copper discovery in a volcanic sequence coincident with magnetic and electromagnetic anomalies and disseminated to semi-massive Au-Ag-Cu bearing sulfides. One interpretation of magnetic geophysical data suggests that the magnetic trend is folded and continues through the Maseres Project. Mineralized boulders historically identified and co-incident with this folded magnetic trend have been reported to contain up to 11 ppm gold and 2% copper (NR April 13, 2017).
Preliminary VTEM and magnetic data appears to confirm the existence and location of the historical EM and magnetic trend in the northeastern corner of the Maseres Project. Furthermore, the preliminary VTEM data also extends this conductive trend to the central area of the Project. Melkior conducted a soil sampling test grid over a portion of this EM trend in 2017. A-horizon soil analysis over the EM trend returned up to 121 ppb Au; 59 ppm Ag; 93 ppm Cu; 78 ppm Zn; 30 ppm Pb (NR September 17, 2017). Melkior considers this conductive trend to have potential for Bousquet Type gold rich VMS type deposits.
Osisko’s exploration in the Urban-Barry Greenstone Belt includes the search for Bousquet type gold-rich VMS deposits. The most significant projects in Urban – Barry are currently endeavoring to define structurally hosted gold deposits. Melkior is considering the hypothesis that, “The Maseres Fault network has acted as hydrothermal conduit redistributing gold from Bousquet Type gold rich VMS type deposits into structural gold deposits.”
Preliminary VTEM data has identified a six-kilometer-long conductive trend within the NW corner of the Maseres Project that is co-incident with the regionally important Maseres Fault. The Maseres Fault system is interpreted to locally be in proximity to and may transect sequences of the Urban Barry Greenstone Belt prospective for Bousquet Type gold rich VMS deposits.
From a regional perspective the NW corner of the Maseres Project is located about 3 km southwest of where the Maseres Fault bifurcates. The more easterly splay of the Maseres Fault, the Saint-Cyr Fault, traverses Bonterra in proximity and parallel to the developing Gladiator Zone. The Maseres Fault persists beyond the point of bifurcation and its junction with the Saint-Cyr Fault, extending through the Osisko Black Dog Project and their recent “Au-Ag-Cu Discovery”. Published geological maps indicate that the Maseres Fault network further persists to the northeast where after traversing the area of the Metanor Barry Deposit it is interconnected to the Bank Fault. Osisko presents the Bank Fault on their Windfall Project Main Zone Drilling Maps as being a structure central to the project, with mineralized zones parallel to the Bank Fault.
Melkior’s recently staked claims extend the southern boundary of the Maseres Project about 8 kilometers to the south. As previously reported there were historic gold in sediment samples on the Maseres claim group of 84 ppb Au and 121 ppb Au, in proximity to the southern boundary. The preliminary VTEM data appears to indicate these anomalous gold in sediment sample locations are co-incident with a conductive trend. The conductive trend does not appear to cross the southern boundary however, additional review of the historical data indicates that there may be an extended area of elevated silver, lead and zinc in sediment samples to the south.
Jim Deluce, CEO of Melkior remarks, “We are anxiously awaiting the final maps, reporting and interpretation of GEOTECH VTEM plus time-domain survey.”
Wade Kornik, P.Geo., has approved the information contained in this release. Mr. Kornik is the Exploration Manager of the Company and is 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