Melkior Intersects 2.23 g/t Gold Eq over 24.5m in GEN-22-01
Head Office: 66 Brousseau Ave., Suite 207, Timmins, ON P4N 5Y2 Canada
Melkior Intersects 2.23 g/t Gold Eq over 24.5m in GEN-22-01
November 24, 2022 Trading Symbol:MKR
TSX Venture Exchange
Highlights:
• First rushed results back from GEN-22-01 intercepted 2.23 g/t Au Eq over 24.5 metres, including 3.69 g/t
Au Eq over 7.78 metres
• There are still 105 non-rush samples where assays are outstanding which have the potential to extend this
intercept
• The Company has completed its 4,000-metre drill program and will report additional results through the
remainder of the year
Timmins, Ontario. Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is
pleased to announce rushed results from the first drill hole at the Genex Project. GEN-22-01 intersected 2.23 g/t
Au Eq over 24.5 metres (0.24 g/t Au, 1.15% Cu, 0.52% Zn & 3.92 g/t Ag), including 3.69 g/t Au Eq over
7.78 metres (0.32 g/t Au, 2.29% Cu & 5.24 g/t Ag), successfully extending the Genex Shaft Zone 50 metres to
the northeast. On April 21st, 2022, the Company announced an option agreement for the Genex Project to earn
100% over 7 years from International Explorers & Prospectors Inc (see news release dated April 21, 2022).
The Genex Project is an advanced gold-copper polymetallic VMS exploration target with significant near-term
resource potential.
Jonathon Deluce, CEO of Melkior, remarks, “We are very excited about this strong first intercept and the
potential results of the remaining drilling supported by the visual observations announced last week. Market
conditions remain challenging, but we are well positioned with Genex, a strong treasury and capital structure
to benefit when the market turns. Various majors have stated the need for copper/gold deposits, and with
Genex being nearby existing infrastructure, we are excited about the Project’s potential.”
GEN-22-01:
GEN-22-01 was drilled as a step-out hole to test the immediate extension of the historical H Zone at a vertical
depth above 50 metres. In that area, the brecciated mafic to intermediate volcanic rocks, as much as felsic
volcanoclastic, are strongly affected by a black chlorite alteration. The disseminated polymetallic
mineralization takes the form of disseminated grains and stringers. Additionally, a semi-massive chalcopyrite
vein was intercepted from 33.72 to 34.18 metres with grades of 16.4 % copper and 1.46 g/t gold over 0.46
metres.
There are still 105 non-rush samples where assays are outstanding which have the potential to extend this
zone.
Hole ID From
(m) To (m) Length
(m) Gold Eq* Gold
(g/t)
Cu
(%)
Zn
(%)
Ag
(g/t)
East Zone
2
GEN-22-01 30.5 55 24.5 2.23 0.24 1.15 0.52 3.92
Including 33.72 41.5 7.78 3.69 0.32 2.29 0.04 5.24
Including 33.72 34.18 0.46 25.4 1.48 16.4 0.13 25.6
Note 1: Gold equivalent grades are based on the following metal prices: gold US$1,600 per oz, zinc
US$1.35/lb, copper US$3.35/lb, and silver US$18.0 per oz. Metal recoveries of 100% are applied in the gold
equivalent calculation.
Note 2: Stated lengths are core lengths as drilled. True widths are estimated to be above 80% of reported core
length intervals.
Hole ID Easting
UTM
Northing
UTM Length (m) DIP Azimuth
GEN-22-01 458793 5370200 177 -60 60
The field program was run by SL Exploration, and the drill core was split with half sent to AGAT in Timmins,
ON, and fire assayed with an AA, with any samples over 10 g/t being assayed with gravimetric finish. Whole
metallic assays are performed on samples if they contain visible gold. Additionally, for base metals, Metals
Package by 4 Acid Digest, ICP-OES Finish was used with over limits tested by 4-Acid dilution testing.
Duplicates, standards, and blanks were inserted into the sample stream.
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 its Genex, 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.
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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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