Ottawa, Ontario CANADA, April 12, 2012 /FSC/ - Melkior Resources Inc. (MKR - TSX Venture), is pleased to report results from the second hole (CAR-80-2012) on its 100% owned Carscallen West Timmins gold project.
During February 2012 two holes were drilled to a vertical depth greater than 500 metres on the Shenkman Zone. A total of 1,270 metres were drilled with more than 200 samples sent for gold assay and scanning of other elements. The results from the first hole were reported on the March 26, 2012 press release.
Hole CAR-80-2012 was drilled 100 metres north of CAR-79-2012 and 180 metres underneath CAR-51-2010 (12.00m @ 1.87 g/t gold, see press release July 23, 2010) and 250 metres under CAR-71-2011 (13.25m @ 5.10g/t gold, see press release July 28, 2011).
Several gold zones and elevated copper were encountered. The following observations are significant:
1. Gold extends past the granite-volcanic contact and deeper than any previous drilling.
2. Anomalous copper and silver are present providing further evidence for a possible gold bearing copper VMS system at depth (Volcanogenic Massive Sulphide). A gold system appears to be present independently of the possible VMS target.
3. Gold grade appears to be improving at depth.
4. Down hole geophysics suggest a massive sulphide.
Summary of Hole:
-437.60 - 439.50 m 1.90 m @ 7.12 g/t Gold
incl. -437.60 - 438.80 m 1.20 m @ 1.25 g/t Silver
incl. -438.20 - 439.50 m 1.30 m @ 0.73 % Copper
-533.00 - 536.70 m 3.70 m @ 51.92 g/t Gold
incl. -533.70 - 535.70 m 2.00 m @ 6.40 g/t Silver and 2871 ppm Copper
-601.70 - 603.00 m 1.30 m @ 5.09 g/t Gold
-618.00 - 619.00 m 1.00 m @ 1.08 g/t Gold
-625.65 - 626.35 m 0.70 m @ 1.98 g/t Gold
-642.25 - 642.75 m 0.50 m @ 5.19 g/t Gold
incl. -642.25 - 642.75 m 0.50 m @ 1.5 g/t Silver and 2490 ppm Copper
Hole CAR-80-2012 has confirmed the extension of gold mineralization at depth and also laterally on the Shenkman zone. Several gold zones have been encountered up to a vertical depth of 580 metres. These zones have been systematically drilled from surface and are open at depth and along strike. The true width of the above intersections is not yet determined. Down hole electromagnetic surveying has demonstrated the very likely presence of a VMS copper-gold situation in the vicinity of hole CAR-79-2012.
Continuation of drilling is scheduled to commence in the second half of May. The focus will be continued drilling of the gold system and targeting the copper-gold VMS.
Quality Control and Assurance
Core processing included descriptive logging and systematic sampling for analysis. The drill core was sawn in half, with one half delivered to the laboratory and the other half retained for future reference. Gold assays were performed at ALS CHEMEX Laboratories in Timmins, Ontario by standard Fire Assay with AA technique (Au-AA-23). Other elements were obtained by Inductively Coupled Plasma Emission Spectroscopy (ME-ICP-41) on a 30 gram sub-sample. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol.
This Press Release was prepared by Dr. Eric Hebert, P.Geo and Dr. Tom Setterfield, P.Geo, both of GeoVector Management Inc, and Qualified Persons under National Instrument 43-101. Dr. Hebert supervised the diamond drill program, logged the core and designed the sampling program. They have also reviewed the quality control information and this release.
For more information:
Melkior Resources Inc.
Tel: 613.721.2919
Fax: 613.680.1091
E-mail: melkior@rogers.com
Web: www.melkior.com
1 hour 55 minutes ago