Highlights:

• - Summer program currently underway, including soil sampling, gravity survey and prospecting.

  - Review/modelling of historical work has led to the identification of new target areas

  - Drilling is expected to resume in Sept 2021, with 3,000 meters currently budgeted for the remainder of the year.

 

August 11, 2021 - TheNewswire - Timmins, Ontario - Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is pleased to announce an update on its summer exploration and drill plans for the $110 million strategic investment and partnership with Kirkland Lake Gold at the Carscallen Project located approximately 25 kilometres southwest of Timmins Ontario. This program is being operated by Kirkland Lake Gold (“Operator”) under the option / joint venture announced on Sept 28,2020.

 

Summer Program:

Melkior is pleased to announce a summer field program underway at Carscallen. The program includes a closely spaced soil sampling program (12.5m spacing compared to historical 50m spaced) designed to be completed in two phases. This sampling will expand on prior programs to target additional anomalies in proximity to the current mineralization.

 

A ground gravity survey is currently being designed with five lines (200m spacing) to test the effectiveness of outlining the granodiorite/mafic volcanic contact at depth along the east side of the large intrusion. The goal will be to use the gravity survey to assist with creating a 3-D model of the granodiorite body to assist with drill targeting extensions to the known mineralization.

 

New Target Areas:

Since optioning the Property, the Operator has conducted a thorough compilation and review of drilling, geophysical, soil geochemistry, and LiDAR datasets. The objective of the exercise was to assist in identifying new gold mineralization and/or potential extensions of existing gold mineralization zones. From this review, new target areas have been generated on-trend from known mineralized areas. These new areas will be investigated during the Summer Program through field prospecting, soil sampling and mapping.

 

September Drill Restart

Drilling is expected to resume during September 2021, with a minimum 3,000 meters currently budgeted for the remainder of the year. Details of the drill program will be provided on commencement.

 

Jonathon Deluce, CEO of Melkior, remarks, “I am excited to provide an update on our strategic partnership with Kirkland Lake Gold. Numerous management teams have historically developed the Carscallen Project; therefore, it was important that a strong technical operator conduct a thorough review of historical work in order to best position the project for further drill success. The Carscallen Project has continued to demonstrate the potential to be a high-grade gold system with continuity amongst numerous zones. With every drill program, we push to make that game-changing discovery hole, and we are confident that we have the best partner to achieve this goal.”

 

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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