Jul 25 2015
Melkior Resources Inc. ("Melkior") is pleased to provide progress on its wholly owned Carscallen gold project which is located approximately 25 kilometres west of the centre of Timmins Ontario and 5.5 kilometres west of Lake Shore Gold Corp's West Timmins Mine. Recent (2014) exploration drilling by Lakeshore Gold Corp has intersected several significant, northeast trending gold zones to the southwest of the Timmins Mine along Hwy 144.
Hole HWY-14-48 intersected 5.37 grams/tonne Au over 48 meters and hole HWY-14-52 intersected 7.18 grams/tonne Au over 24 meters. (Source: www.lsgold.com; true widths not known at this time)
The Melkior Property adjoins the Lakeshore Gold Corp property to the east. Past interpretive work by Melkior has indicated similarities of grade and vein morphologies in the Shenkman, Zam Zam and Jowsey gold zones. These zones appear to be part of one larger mineralizing system. As these vein systems appear to be correlated with one another, the zones have been consolidated and renamed the Jowsey Gold Zone. This is a mineralized corridor with a current strike length of approximately 675 metres. (see Melkior press releases dated April 22, 2015 and May 25, 2015 for more information)
Current work consists of a comprehensive surface exploration program over the remaining property including the 1010 Gold Zones, Shenkman/Mystery showing and Wire Gold showing. In addition previously detected chargeability anomalies peripheral to the Jowsey Gold Zone will be investigated. Old workings have been located in close proximity to some of these anomalies and will be sampled. A beep mat survey will be done to identify new areas of interest related to the chargeability anomalies.
In addition, anomalous soil samples taken in 2009 will be investigated. In the 2009 survey, a total of 255 soil samples were collected for Mobile Metal Ions analysis (MMI) and 227 traditional B-horizon soil samples were collected and submitted for Au and multi-element geochemical analysis. Anomalous areas from the previous survey will be prospected and sampled and additional soil samples will be taken to verify the size and possible source of these anomalies.
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Exsics Exploration has been contracted to perform line-cutting and an Induced Polarization survey on the Big Marsh Property located about 5 km to the north of the Carscallen property. Additional drilling will be based on the results of the above programs.
The contents of this press release have been reviewed by Jens Hansen, P.Eng, President and director and Wayne Holmstead, P.Geo, Qualified Persons as defined by National Instrument 43-101.