Melkior, Maseres – VMS Type Mineralization Confirmed
Head Office: 66 Brousseau Ave., Suite 207, Timmins, ON P4N 5Y2 Canada
MELKIOR, MASERES – VMS TYPE MINERALIZATION CONFIRMED
October 30, 2018 Trading Symbol: MKR
TSX Venture Exchange
Timmins, Ontario. Melkior Resources Inc. (“Melkior”) is pleased to announce that assay results
confirm the existence of strata-bound sulphide mineralization within mafic volcanic rock on the
Maseres Project.
Assay results from the strata bound, sulphide mineralized horizon returned maximum values of:
Copper: 2,040 ppm
Lead:125 ppm
Zinc: 130 ppm
Silver: 4.3 ppm
Gold: 0.459 ppm
42 samples contained over 9% Iron with 16 of these containing over 9% Sulphur.
The results of these analysis in conjunction with surficial observations validates the hypothesis
that VMS type mineralization is present on the Ma seres Project. The proximity of the mineralized
horizon to VTEM conductors suggests a correla tion between VTEM EM anomalies and strata-
bound sulphide mineralization on the Maseres Projec t. This correlation would elevate all EM
anomalies along the ten-kilometer geological tr end to drill targets. The following table
summarizes the number and Grade of 386 EM anom alies identified by Geotech on the Maseres
Project.
Number of EM Anomalies Anomaly Grade
29 Conductance > 50 S
25 35 S < Conductance < 50 S
46 20 S < Conductance < 35 S
79 10 S < Conductance < 20 S
89 5 S < Conductance < 10 S
118 Conductance < 5 S
595 AIIP
As reported by Geotech:
“There are two kinds of anomalies:
1. Strong EM conductors possibly associated with pyrrhotite and/or pyrite in iron formations;
2. AIIP anomalies associated with clay in drainages”
Melkior is of the opinion that the extensive corridor of VTEM EM anomalies are predominately
related to a single volcanic package, that incl udes VMS type mineralized units, deposited at a
transition from felsic to mafic vulcanism.
2
These bedrock samples were taken in an area of, relatively shallow overburden and very close to
strong EM conductors. The geology of this area will be studied to better understand this important
sequence of rocks. Approximately 80% of the V TEM EM anomalies on the Maseres Project have
been evaluated on the ground (ground truthed). The areas that host the EM anomalous trends are
almost always low lying and devoid of outcrop immediately overlying the EM anomalies. A
trenching permit has been applied for, prospe cting continues and weather permitting, bedrock
exposure will be enhanced before winter sets in.
Melkior is advancing the Maseres Project to enhan ce shareholder value, due diligence is required
prior to moving to the drilling stage. Sufficient info rmation is now available to select a focus area
and to continue with the due di ligence process on a pr ioritized 2.5 km x 2.5 km area. This focus
area was selected based on a combination of: yea r-round drill access; confirmation of VMS type
mineralization; correlation of VMS type mineralization to EM anomalies; supporting geological
data from outcrop; and robust geochemical (A u, Cu, Ag) signature obta ined in the 2017 soil
sampling program. A grid will be established over this area for ground control. IP and resistivity
surveys will be conducted to establish bedr ock topography and to provide more detailed
information on the location and st rength of conductive targets. Th e contract for the line cutting
and geophysical survey will be awarded within the next 30 days. The IP and resistivity survey will
be initiated on freeze up as there are wet area over portions of the survey area. A requirement of
the geophysical contract will be the delivery of pr eliminary data on a daily basis. The preliminary
data will be posted within 24 hours to the Melkior website to allow our shareholders to share in
the excitement of the next phase of exploration on the Maseres Project.
Jim Deluce, CEO of Melkior comments to our shar eholders, “Melkior con tinues to provide an
unprecedented level of transparency while we continue to aggressively advance our assets. I invite
all Melkior shareholders to engage our website a nd the release of our upcom ing IP and resistivity
data. When we have mitigated the drilling risk as best we can we are going to select some drill
holes and we are going to drill. Melkior currently has over $1,000,000 in the bank.”
Wade Kornik, P.Geo., has approved the information co ntained in this release. Mr. Kornik is the
Exploration Manager of the Company and is a Qualified Person as defined by National Instrument
43-101.
ON BEHALF OF THE BOARD
Keith James Deluce, CEO
For more information, please contact:
Melkior Resources Inc.
E-mail: [email protected]
Tel: 705-267-4000
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.