Melkior Intersects Massive and Semi-Massive Polymetallic Mineralization at Genex
Head Office: 66 Brousseau Ave., Suite 207, Timmins, ON P4N 5Y2 Canada
Melkior Intersects Massive and Semi-Massive Polymetallic Mineralization at Genex
November 18, 2022 Trading Symbol:MKR
TSX Venture Exchange
Highlights:
• Visual observations on approximately 1,104 metres of drilling completed across 7 holes
• The targeted Genex mineralization has been intercepted in all holes drilled to date ranging in width from
3.3 to 64.2 metres
• Semi and massive polymetallic mineralization intervals were observed in wide disseminated halos
• As a result of strong visuals, the program has been expanded to 4,000 metres
Timmins, Ontario. Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is
pleased to provide a visual update from its drill program currently underway at Genex, which kicked off in
early October. 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 a gold-copper polymetallic VMS exploration target with significant near-term
resource potential.
Figure 1: GEN-22-01,03,04&07
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*The photos are of selected intervals and are not necessarily indicative of the mineralization hosted within the
entirety of the drill holes
From these first visuals released, 6 holes returned at least one interval over 10 metres hosting disseminated
chalcopyrite, pyrite-sphalerite and/or pyrite. From that, 2 holes host massive or semi-massive metric intervals
embedded in the disseminated sulfide envelope. Hole GEN-22-01 delivered two semi-massive to massive
chalcopyrite stringers crosscut over metric intervals. Disseminated polymetallic sulfides were observed over
two intervals with lengths of 17 and 28 metres starting from surface.
In the series of holes described, the base metal mineralization identified so far exhibits varying shapes and
textures: sulfide-rich stringers, replacement zones, infiltration and dissemination in the porosity of volcanic
breccia. Different generations of sulfide-bearing quartz and carbonate veins are locally included in mineralized
envelopes. The polymetallic mineralization is generally hosted in brecciated carbonatized mafic to
intermediate volcanic flows altered by chloritization and silicification.
Drilling
The 7 holes total 1,104 metres with lengths varying between 75 and 220 metres located at the margin of the
composite grade shell modelled using Leapfrog software (see news release dated October 27, 2022 for
technical information). The program aims at testing the continuity of base metals and gold mineralization
around the historical Genex Mine. As shown in Figure 2, holes GEN-22-01, GEN-22-04 and GEN-22-05 were
planned to test the immediate extension to the east of the mineralization following trends indicated by
historical underground workings. Drilling was located between 20 and 50 metres from historical drilling.
Holes GEN-22-02 and GEN-22-03 targeted the Genex south-western extension, where historical drilling had
identified copper-gold mineralization between 100 and 150 meters vertically and about 100 meters from
underground infrastructures. In addition, holes GEN-22-06 and GEN-22-07 were designed to target the
southward extension of the Genex system within a 50-meter range.
Visual Intercept Highlights:
*The following observations were made as indications of the Genex Au-Cu Zone, but they are by no means
correlated with gold, copper, zinc or silver grades at this stage.
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*For a full list of figures please refer to this link.
Figure 2: Phase 1 drilling angled long view looking NW
DDH From_m To_m Width_m Observations Figures
28 45 17 Semi-massive sulphides with 1-70% (figure 1) chalcopyrite, 1-5% pyrite and 1-3%
sphalerite in a strongly brecciated mafic-intermediate volcanic rocks.
Incl 30.5 31.58 1.08 Semi-massive chalcopyrite stringers
Incl 33.94 34.51 0.57 Massive chalcopyrite stringers
45 73.25 28.25 Chloritized and sericitized strongly brecciated mafic volcanic hosting 1 to 5%
chalcopyrite with 1-3% pyrite and 1-3% sphalerite. 3
GEN-22-02 39.05 49.85 10.8 1-3% stringers/clusters of sphalerite, 1-2% of pyrite and trace of chalcopyrite in
strongly brecciated/carbonatized mafic volcanic unit. 4
12.2 20.7 8.5 2-15% chalcopyrite and 1-15% sphalerite in a brecciated mafic volcanic rocks.
Incl 18.0 19.2 1.2 15% chalcopyrite and 15% sphalerite coarsely crystallized
29 104 75 1-5% pyrite and 1-5% sphalerite in a brecciated mafic volcanic rocks.
118.8 122.1 3.3 3% disseminated pyrite in a sheared/sericitized intermediate volcanic rocks.
GEN-22-05 1.7 9.7 8 2-10% pyrite with up to 3% sphalerite
GEN-22-06 59.5 73 13.5 1% finely disseminated pyrite in a foliated and fractured interval
4.85 15.2 10.35 1% to 5% Pyrite, 1 to 2% sphalerite, up to 0.5% chalcopyrite in hydrothermal
breccia.
44.8 60.4 15.6 1-5% stringers/clusters of pyrite, 1-2% of sphalerite and trace of chalcopyrite in
hydrothermal breccia
1 & 2
GEN-22-07
October 2022, Genex Project, Visual Mineralization Description
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GEN-22-01
GEN-22-04
GEN-22-03 22.4 86.6 64.2 1-3% chalcopyrite, 1-5% sphalerite and 1-5% pyrite in mafic to intermediate volcanic
rocks.
6 & 7
8 & 9
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Figure 3: 3D Plan view of the Genex Gold-Copper system. Leapfrog software grade shells using inverse
distance interpolation of a gold equivalent grade for gold + copper + zinc + silver
Drill Hole Coordinates
DDH_No UTMnad83_East UTMnad83_North Azimuth Dip Length
GEN-22-01 458793 5370200 60 -60 177
GEN-22-02 458646 5370115 60 -58 207
GEN-22-03 458646 5370115 60 -70 220
GEN-22-04 458824 5370152 330 -50 160
GEN-22-05 458824 5370152 60 -60 75
GEN-22-06 458795 5370053 330 -65 150
GEN-22-07 458773 5370091 330 -74 105
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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 agreem ent. Melkior under 100% ownership , is focused on
advancing it’s 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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