Melkior Extends the Genex Copper System at Surface
Head Office: 66 Brousseau Ave, Suite 207, Timmins, ON, P4N 5Y2, Canada
Melkior Extends the Genex Copper System at Surface
November 7, 2023 Trading Symbol:MKR
TSX Venture Exchange
Highlights:
• Over 59-line kilometres were covered by the exploration team using a beepmat covering an area of
approximately 2.6 square kilometres.
• A total of 121 outcrop and erratic boulder samples were collected for assaying.
• Two new chalcopyrite conductive horizons were discovered located respectively at 125 metres south
and over 300 metres north of historical mine site
o Resonant discovery returned 6.55 % copper, 1.55 g/t gold and 11.7 g/t silver (090624)
• Channels were cut at over 15 targets, representing over 451 outcrop samples.
Timmins, Ontario. Melkior Resources Inc. (“ Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is
pleased to announce a further update from its Summer Surface Program at Genex, focused on testing surface
extensions of the historical Genex deposit, currently under option from International Explorers and Prospectors
Inc (see news release dated April 21, 2022).
The exploration team’s diligent efforts in covering extensive ground and utilizing Beepmat ™ (Instrumentation
GDD) technology has led to the discovery of two new significant chalcopyrite conductive horizons potentially
expanding the overall Genex polymetallic footprint up to 125 metres to the south and 300 metres to the north .
Preliminary results validate the IP anomaly interpretations and will help to expand additional exploration targets
to the northeast. Ultimately, the company is gaining more knowledge, allowing it to further understand and
continue exploring the VMS potential.
The first discovery was made over 125 metres to the south of the former Genex footprint and was identified
under a thin layer of soil, named the Resonant showing. The mineralization observed at the discovery site
corresponded to dense chalcopyrite stringers ranging from a few centimetres up to 15 centimetres and hosted in
a chloritized siliceous volcanic rock. The first results obtained from the Resonant discovery returned 6.55 %
copper, 0.1% cobalt, 1.55 g/t gold and 11.7 g/t silver (090624).
The mineralized area was subsequently excavated, creating an observation window of approximately 10 metres
by 10 metres so that numerous channels could be cut, allowing for a better understanding of the mineralization
and its relationship to that of the historical Genex deposit.
A second new chalcopyrite horizon, this time located over 300 metres to the north of the former Genex deposit,
returned 1.05% copper, 0.81 g/t gold and 18 g/t Silver (090912). These two new discoveries expand the
overall footprint of the Genex polymetallic system to over 650 metres (north -south) in comparison to its
historical footprint of 250 metres.
Overall, an area of 2 sq/km was covered from Acanda Lake extending to the south, including the Genex deposit.
Despite the abundance of anthropic features and blasted material, numerous outcrop samples taken can be
considered a s new sulfide occurrences in the volcanic sequence. From the 121 samples taken, 81 are from
outcrops, 34 from glacial boulders and 6 from inferred blasted material from historical exploration.
Beepmat Sampling Highlights:
• 10 rock grab samples yielded greater than 0.1% copper, with 5 samples above 1.0%
o Sample 090624 assayed 6.5% copper, 1.55 g/t gold & 11.7g/t silver
o Sample 090656 assayed 2.6% copper, 0.13 g/t gold & 8.0g/t silver
• 5 rock grab samples yielded greater than 0.2 g/t gold, with 2 samples above 1.0 g/t
o Sample 090995 assayed 0.15% copper, 1.28 g/t gold & 13.0g/t silver
Table 1: Beepmat Sampling Highlights
Sample no UTMnad83_X UTMnad83_Y Type Au (g/t) Ag (g/t) Cu % Zn %
090624 458896.7191 5370070.297 Outcrop 1.55 11.7 6.55 0.02
090956 458957.1022 5370305.297 Float 0.128 8 2.55 0.04
090625 458917.1167 5370060.256 Float 0.568 4.9 1.72 0.01
090627 458956.0983 5370085.54 Outcrop 0.148 5 1.35 0.10
090912 458744.6483 5370710.689 Outcrop 0.806 18.8 1.05 0.31
090974 458689.6277 5370522.563 Float 0.075 2 0.60 1.68
090996 458673.946 5370166.519 Outcrop 0.133 7.6 0.24 0.34
090995 458673.5083 5370167.3 Outcrop 1.28 13 0.15 0.06
090968 458537.3913 5370480.547 Outcrop 0.009 3.5 0.15 0.03
090635 459516.832 5370928.428 Float 0.004 <0.5 0.11 0.01
090973 458681.3493 5370481.827 Subcrop 0.824 3.3 0.01 0.02
Outcrop Sample # 090624 Outcrop Sample #090912
Genex Property Map with Exploration Coverage and New Chalcopyrite Horizons
Please refer to Table 1 for sample details
The new samples collected from this program aim not only to expand but also to enhance the understanding of
the complex geological structure and provide invaluable insight into the forthcoming drill program. In addition,
the Company believes that the environment is favorable for the discovery of massive sulfides lenses related to a
VMS deposit and ongoing efforts will continue to be concentrated on gaining more knowledge from the recently
completed work and the historical data available.
Further to the successful beepmat program, the teams also completed a series of trenching and channel sampling
concentrated around the newly discovered Resonant showing, and along the north-east conductors where initial
sampling indicated the presence of significant mineralization. Sampling results and mapping are currently under
revision and validation which will be shared as soon as it's available.
Jonathon Deluce, Chief Executive Officer of Melkior states “We are very pleased with the outcome of this
exploration approach as it has yielded a wealth of new information that we had never seen before. We are
confident that the new geological information and assays to come will significantly enhance our drill targeting
process and help us gain a deeper understanding of the Genex polymetallic system. We look forward to providing
additional updates shortly on the Channel Sample Results and Drill targets for our next program”.
Rock samples were sent to AGAT in Timmins, ON, and fire assayed with an AA, with any samples over 10 g/t
being assayed with a gravimetric finish. Additionally, for base metals, Metals Package by 4 Acid Digest, ICP-
OES Finish was used with over limits tested by 4-Acid dilution testing. Standards and blanks were inserted into
the sample stream.
Qualified Person
All technical information in this press release has been reviewed and approved by Martin Demers, P.Geo. (PGO
registration #3785). Mr. Demers 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 Agnico Eagle Mines Limited through an
option agreement pursuant to which Agnico Eagle has the option (but not the obligation) to acquire up to a 75%
interest to the Carscallen Project by spending $110 million on the Carscallen Project over a 10-year period. See
the Company’s news release dated September 28, 2020 for more information. Melkior, under 100% ownership,
is focused on advancing its Genex, Beschefer East, Val D’Or, White Lake and Maseres Projects. Agnico Eagle
also owns approximately 6% of the issued and outstanding common shares of 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 website 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.