Winter Drill Program Melkior Starts Winter Drill Program on the Shenkman Zone, Carscallen Gold Project, West Timmins, Ontario
| February 7, 2012 | Trading Symbol: MKR |
| | TSX Venture Exchange |
OTTAWA, ONTARIO – Melkior Resources Inc. ("Melkior") (TSX VENTURE: MKR.V) is pleased to announce the start of its 2012 diamond drill program on its 100% owned Carscallen gold project, located 5 kilometres west of the Timmins Gold Deposit and the recent Thunder Creek gold discovery.
The first stage of drilling involves two holes on the Shenkman zone, each approximately 600 metres long., designed to test targets below the 500 metre level below surface. Previous holes drilled on the Shenkman zone in 2010 and 2011 intersected the best results to date on the Carscallen property, these included 13.25 metres @ 5.10 g/t Au (CAR-71-2011); 13.30 metres @ 4.84 g/t Au (CAR-61-2010); 12.00 metres @ 1.86 g/t Au (CAR-51-2010) and 5.80 metres @ 2.87 g/t Au (CAR-47-2010). All of the above intersections are hosted in granite. As demonstrated by holes drilled on the ZamZam zone (located ~ 500 metres north of the Shenkman zone), mineralization is also encountered underneath the granite and is hosted in mafic volcanic rocks. Analyses of data from the previous drill campaigns suggest that intersections hosted in mafic volcanics are wider than those hosted within the granite. It is interpreted that mineralization intersected by holes CAR-47-2010, CAR-51-2010, CAR-61-2010 and CAR-71-2011 continues at depth and may be hosted within the mafic volcanic units. The two planned holes will test these mafic volcanic-hosted targets. A second stage of drilling will be designed based on the results of the first two holes. An increase in gold grades and widths of mineralized zones at depth is typical of gold deposits in the West Timmins mining camp.
This Press Release was prepared by Dr. Eric Hebert, P.Geo of GeoVector Management Inc, and Qualified Person under National Instrument 43-101.