news-start of drillingMelkior Resources Inc.: Drilling for Gold Starts at Timmins
OTTAWA, ONTARIO, Oct 31, 2007 (Marketwire via COMTEX News Network) --
Melkior Resources Inc. (TSX VENTURE:MKR), is pleased to announce the start of drilling on its 100% owned West Timmins gold property. The property is located 30 kilometres west of the city of Timmins, Ontario and approximately 5 kilometres west of the Lake Shore Gold Corp.'s Bristol Township gold property.
Two drills have been mobilized with drilling planned to start this week. Twelve holes have been selected on Induced Polarization (IP) anomalies, of these 6 are located in close proximity to the gold in trench results previously announced (new releases of September 6, 2007 and September 19, 2007). Other holes will be drilled on geological targets. A total of up to 2500 metres will be drilled. Following previously announced gold results from trenches, the surface program of trenching, geology and sampling has continued. There are 200 samples still in the laboratory for which the company is awaiting assays. Some of this data will be used to spot additional holes.
Melkior's Board of directors has approved, on October 26, 2007, the grant of 500,000 options to consultants at $0.35 per option exercisable for 5 years.
This news release has been prepared by Jens Hansen P. Eng (Eng. Quebec), President of Melkior and a Qualified Person under NI 43-101.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Melkior's periodic reports including the annual report or in the filings made by Melkior from time to time with securities regulations. Melkior undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.
SOURCE: Melkior Resources Inc.
Melkior Resources Inc. Jens E. Hansen, P. Eng President 613-680-1091 613-828-7268 (FAX) melkior@rogers.com www.melkior.com
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