Melkior Announces Commencement of 4,200M Drill Program at Carscallen
Head Office: 66 Brousseau Ave., Suite 207, Timmins, ON P4N 5Y2 Canada
Melkior Announces Commencement of 4,200M Drill Program at Carscallen
June 14, 2022 Trading Symbol:MKR
TSX Venture Exchange
Highlights:
• Drilling is underway at Carscallen, with 4,200 meters currently budgeted for this program across 3
targets
• Drilling has started in the Shenkman Zone, with targets being finalized to follow up on recent
discoveries north of the ZamZam Zone and new targets surrounding the Mystery Zone
• The Shenkman Zone has the potential to deliver high-metal factor intercepts as seen in 2012 with
51.9 g/t Gold over 3.7 Meters, 2019 with 23.5 g/t Gold over 8.0 Meters and 2020 with 25.7 g/t Gold
over 6.0 Meters.
Timmins, Ontario. Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is
pleased to announce an update on its drilling commencement for the $110 million strategic investment and
partnership with Agnico Eagle Mines (Previously Kirkland Lake Gold) at the Carscallen Project located
approximately 25 kilometres southwest of Timmins Ontario. This program is being operated by Agnico Eagle
Mines (“Operator”) under the option / joint venture announced on Sept 28, 2020. As of May 2022, there was
approximately $1.2M of work commitment left to be spent by September 2022 to meet the minimum
commitment.
Drill Program
Drilling at the Project is currently underway, with a minimum of 4,200 meters budgeted over this summer
program. Details of the drill targets will be provided in a subsequent news release, but the program will start
by targeting the Shenkman Zone, which has the potential to deliver high-metal factor intercepts as seen in
2012 with 51.9 g/t gold over 3.7 meters, 2019 with 23.5 g/t gold over 8.0 meters and 2020 with 25.7 g/t gold
over 6.0 meters. This drill program will target areas immediately along strike and dip of these strong
historical intercepts.
This drill program will also target the area north of the ZamZam Zone to follow-up on recent intersected high-
grade values in an under-drilled area up to 300 meters north of the current surface trenching. CAR-21-18,
collared approximately 50 meters northwest of the ZamZam/Jowsey Zone, intersected 6.88 g/t gold over 1.5
meters from 384.5 to 386 meters, including 19.6 g/t gold over 0.5 meters from 385.5 to 386.0 meters. Drill
hole CAR-21-19, collared 300 meters north of CAR-21-18, intersected 5.84 g/t gold over 1.5 meters from
400.0 to 401.5 meters including 16.1 g/t Au, 83.6 g/t Ag, .33% Cu and .23% Zn over 0.5 meters from 401.0
to 401.5 meters.
Both vein intersections in drill holes CAR-21-18 and CAR-21-19 are interpreted to be the same vein system,
with CAR-21-18 intersected at approximately 280 meters vertically below surface and CAR-21-19 at
approximately 300 meters vertical. In addition, with multiple vein intersections in CAR-21-18, these intercepts
open this 300-meter gap between the two drill holes for additional drill testing and extends the
ZamZam/Jowsey Zones by 350 meters, which is open to the north.
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Jonathon Deluce, CEO of Melkior, remarks, “We are very excited that drilling has resumed at Carscallen.
The Carscallen Project has demonstrated the potential to be a high-grade gold system with continuity amongst
numerous zones. We push to make that game-changing discovery hole with every drill program, and we are
confident that we have the best partner to achieve this goal.”
Qualified Person
All technical information in this press release has been reviewed and approved by Peter Caldbick, P.Geo. Mr.
Caldbick is a consultant for Melkior and a Qualified Person for the purposes of National Instrument 43-101.
About Melkior Resources
Melkior Resources is an exploration stage resource company in world-class mining jurisdictions with a strong
partner. Melkior’s flagship Carscallen Project is being advanced by Kirkland Lake Gold (Now Agnico Eagle
Mines) through a $110M option/joint venture agreement. Melkior under 100% ownership , is focused on
advancing it’s Val D’Or, White Lake and Maseres Projects. Agnico Eagle Mines currently owns approximately
6% of the Company.
ON BEHALF OF THE BOARD
Jonathon Deluce, CEO
For more information, please contact:
Melkior Resources Inc.
E-mail: [email protected]
Tel: 226-271-5170
The reader is invited to visit Melkior's web site www.melkior.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.