13.25 Metres Grading 5.10 G/T GoldMelkior Intersects 13.25 Metres Grading 5.10 G/T Gold on the Shenkman Zone, Carscallen Gold Project, West Timmins Gold District, Ontario
Ottawa, ON June 28, 2011
FSC / Press Release
Melkior Intersects 13.25 Metres Grading 5.10 G/T Gold on the Shenkman Zone, Carscallen Gold Project, West Timmins Gold District, Ontario
Ottawa, Ontario CANADA, June 28, 2011 /FSC/ - Melkior Resources Inc. (TSX - VX: MKR), is pleased to announce assay results from six new holes from the 2011 diamond drill program on its 100% owned Carscallen gold project, located 5 kilometres west of the Timmins Gold Deposit and recent Thunder Creek gold discovery. All holes intersected multiple intervals of anomalous gold mineralization; the highlight was hole CAR-71-2011, which intersected one of the widest, high-grade gold intercepts to date from the property and returned 13.25 metres at 5.10 g/t gold from the Shenkman Zone at a vertical depth of 200 metres. The current drill program intersected a second mineralized quartz porphyry dyke proximal to the Shenkman Zone which provides an additional target for future testing. Hole CAR-67-2011 tested the ZamZam Zone and the remaining five holes tested the Shenkman Zone. Assays from seven holes of the recently completed program are still pending.
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Hole From To Core Gold Silver
(m) (m) Length* (g/t) (g/t)
(m)
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CAR-67-2011 354.15 355.00 0.85 1.20 -
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CAR-67-2011 376.70 377.20 0.50 1.16 -
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CAR-68-2011 130.10 130.70 0.60 1.44 -
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CAR-68-2011 177.40 177.90 0.50 1.17 -
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CAR-68-2011 215.55 224.00 8.45 0.34 -
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CAR-68-2011 231.00 233.30 2.30 0.63 -
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CAR-68-2011 275.40 299.75 24.35 0.66 -
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CAR-68-2011 327.15 336.00 8.85 1.66 0.64
including 334.85 335.35 0.50 22.70 8.10
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CAR-68-2011 452.50 460.75 8.25 0.78 -
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CAR-69-2011 119.40 120.00 0.60 1.99 -
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CAR-69-2011 178.75 179.25 0.50 2.08 -
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CAR-69-2011 376.00 395.00 19.00 0.82 -
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CAR-69-2011 470.00 470.50 0.50 39.40 -
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CAR-69-2011 508.45 527.00 18.55 1.94 -
including 509.35 510.10 0.75 28.60 5.00
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CAR-69-2011 638.15 638.75 0.60 7.90 -
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CAR-70-2011 66.00 70.50 4.50 0.82 -
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CAR-70-2011 138.50 139.00 0.50 4.11 -
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CAR-70-2011 146.45 147.00 0.55 1.80 -
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CAR-70-2011 161.50 166.00 4.50 0.53 -
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CAR-70-2011 230.50 231.50 1.00 8.16 -
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CAR-70-2011 251.50 252.00 0.5 0.93 -
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CAR-71-2011 181.40 184.50 3.10 0.79 -
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CAR-71-2011 208.70 209.50 0.80 4.06 -
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CAR-71-2011 231.50 236.50 5.00 1.27 1.20
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CAR-71-2011 254.00 267.25 13.25 5.10 2.01
including 254.00 254.50 0.50 97.30 31.50
including 266.70 267.25 0.55 30.00 10.20
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CAR-71-2011 306.50 307.00 0.50 2.11 -
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CAR-71-2011 387.50 388.00 0.50 13.00 -
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CAR-72-2011 205.50 206.00 0.50 8.05 5.40
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CAR-72-2011 219.00 219.55 0.55 13.95 5.50
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CAR-72-2011 244.00 251.80 7.80 2.99 2.06
including 246.15 247.00 0.85 21.40 13.5
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* Insufficient drilling has been completed to date to determine the true thickness of these intercepts.
Summary of results
Drill hole CAR-67-2011 was drilled at an azimuth of 240o and a dip of -55o with a final depth of 422 m. The Jowsey Zone was intersected between 354.15 and 355.00 m and the ZamZam Zone between 376.70 and 377.20 m. The mineralized zones are hosted in mafic volcanic rock and consist of disseminated pyrite and veinlets associated with an ankerite alteration.
Drill hole CAR-68-2011 was drilled at an azimuth of 240o and a dip of -55o with a final depth of 554 m. The hole was collared on the Shenkman Zone and designed to explore westerly. Two main mineralized zones are usually encountered on the Shenkman Zone; on this hole, they were intersected between 215.55 and 224 m and between 275.40 and 299.75 m. They consist respectively of fine pyrite veins hosted in a quartz porphyry and a series of quartz and pyrite veins (several cm thick) at a 2 or 3 m interval (see table). Several other mineralized zones were intersected, including two new significant zones west of the Shenkman Zone (and deeper than 300 m). One of these new zones is hosted by a quartz porphyry and strongly altered granite between 327.15 and 336 m. The second one occurs between 452.50 and 460.75 m and consists of pyrite veinlets and stringers at a 1 m interval (see table).
Drill hole CAR-69-2011 was drilled at an azimuth of 240o and a dip of -80o with a final depth of 662 m. This hole was a follow-up of CAR-68-2011 designed to hit the two new zones at greater depth, including the second quartz porphyry. The best intersection is hosted in a quartz porphyry between 508.45 and 527 m (see table).
Drill hole CAR-70-2011 was drilled at an azimuth of 240o and a dip of -50o with a final depth of 296 m. This hole was drilled to intersect the new zones but closer to the surface. Mineralization in the second quartz porphyry was hit between 251.50 and 252 m (see table).
Drill hole CAR-71-2011 was drilled at an azimuth of 240o and a dip of -50o with a final depth of 433 m. The hole was collared in the north part of Shenkman and was designed to test both the Shenkman Zone and the continuity of the new zones encountered in hole CAR-68-2011. The Shenkman Zone was intersected between 254 and 267.25 m and assayed 13.25 m @ 5.10 g/t Au and 2.01 g/t Ag (see table). Several other gold mineralized zones were intersected, with associated silver values.
Drill hole CAR-72-2011 was drilled at an azimuth of 240o and a dip of -50o with a final depth of 377 m. The hole was collared to hit mineralized zones near the surface. Several gold mineralized zones were encountered, the most significant of which is between 244 and 251.80 m (see table).
Significance and future work
Drilling in April and May focused mainly on the Shenkman Zone because of the new mineralized zone encountered in hole CAR-68-2011. Also, the gold mineralization seems to be more widespread on the Shenkman Zone then previously known. The presence of a second quartz porphyry dyke hosting gold mineralization represents a new potential environment around the original Shenkman Zone.
Melkior recently commissioned a detailed structural study and 3D model of exploration results on its Carscallen property. This study will provide a better understanding on the chronology of deformation and structural control of the mineralization by integrating the different zones/showings of the property as a whole. The showings include the 1010, ZamZam, Shenkman, Mystery, Jowsey and Wire Gold zones. Detailed mapping/prospecting of the Wire Gold zone was also undertaken to better understand the geology of this showing and its economic potential.