Melkior Stakes Additional Claims IN Hemlo
Head Office: 66 Brousseau Ave., Suite 207, Timmins, ON P4N 5Y2 Canada
MELKIOR STAKES ADDITIONAL CLAIMS IN HEMLO
August 24, 2017 Trading Symbol: MKR
TSX Venture Exchange
Timmins, Ontario. Melkior Resources Inc. (“ Melkior ”) is pleased to announce that an
additional 38 claim units (1,502 acres) have been acquired by staking in the White Lake Area and
Bryant Township. These claims are contiguous with all previously acquired claims. The total area
of the White Lake Project is now 328 contiguous cla im units (12,966 acres). The White Lake
Project is located approximately 15 km northeast of the Hemlo Gold Mine currently operated by
Barrick Gold Corporation. Melkior’s claim group adj oins Canadian Orebodies Inc. and is 3 km
west of claims held by Golden Peak Minerals Inc.
Please click on link to view map: http://www.melkior.com/canadian-exploration/gold/abitibi-
quebec-gold-launay/maps/ .
Melkior’s White Lake Property is situated in the no rtheastern portion of the Hemlo Greenstone
belt, which has only seen sporadic interest over th e last four decades since the Hemlo staking
rush. The White Lake Property has been partially c overed by an Airborne Geophysical Survey
(Aerodat Limited, 1989) and subject to multiple Mag netometer, VLF, IP, Spectral IP surveys,
geological mapping and soil sampling. Limited trenching, blasting and diamond drilling has been
undertaken only on the Kakeeway claim group, result ing in the discovery of the high-grade
Carroll-MacDougall gold occurrence in the fall of 1 993. The Carroll-MacDougall gold
occurrence has reported assays of up to 1,168 g/t g old, taken by Resident Geologists with the
Ontario Geological Survey and reported grab assays of 19.88 g/t gold.
In June 2017, Melkior made a site visit to the Carroll-MacDougall gold occurrence, samples were
taken and confirmed its gold bearing nature with values up to 19.2 g/t gold. The structure hosting
the Carroll-MacDougall gold occurrence is parallel to and within one meter of a transition from
mafic to felsic volcanic rock. This contact zone has been reported to be auriferous over about 100
meters.
The newly staked claim units cover the southeastern extension of the North Limb of the Hemlo
Greenstone Belt to the limit of a Provincial Aliena tion. The geological compilation map (Map
2614, Muir, T.L. 2000) indicates the greenstone bel t strikes NW-SE and that a gold occurrence
is present on the newly staked claim group close to the southern boundary. Further to the NW of
this gold occurrence within the newly staked claims , the geological map also indicates two
additional molybdenum occurrences. In the Hemlo Are a there is a strong positive correlation
between molybdenum and gold mineralization. The map also indicates a group of gold
molybdenum occurrences within the greenstone belt a bout 500 m south of the claim group and
within the alienation.
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Melkior staked its initial claims south of Canadian Orebodies following the south-easterly
extension of the North Limb of the Hemlo Greenstone Belt. At that time, it was observed that
there were gold occurrences within the North Limb a nd within the Kakeeway claim group. The
gold and molybdenum showings within the new claims southeast and along strike of the
Kakeeway Claims reinforces Melkior’s belief that this area merits additional exploration.
The White Lake area is locally extensively overlain by overburden necessitating the use of
indirect methods to determine areas of interest to target exploration. Historical exploration data,
available through the MNDN, has been amalgamated an d reviewed. At least five soil sampling
surveys have been conducted over parts of the curre nt claim group. There appears to be some
consistent anomalous gold trends that persist and a re co-located with VLF trends and IP
chargabilty trends. The review reinforces the conce pt that there may be a gold mineralized zone
within the Hemlo Greenstone Belt where it traverses Melkior’s claim group.
Melkior in acquiring the Kakeeway claim group inher ited a valid Exploration Permit. The area
of the exploration permit is co-incident with an ar ea where there is a confluence of Magnetic,
VLF, IP and gold in soil trends. It is this area th at will become the focus of initial exploration
efforts.
Melkior plans on implementing an A-Horizon soil sam pling program before the end of summer
2017 over a section of the claim group, primarily within the area of the exploration permit. Based
on the results of the soil sampling program additio nal work will be conducted with the goal of
advancing the White Lake Project to the drill stage.
Melkior is also actively advancing both the Maseres Project in the Urban-Barry Greenstone Belt,
Quebec and its Carscallen Project in Timmins, Ontario.
Jim Deluce, CEO of Melkior has expressed, “There is a wealth of historical data available on
Melkior’s White Lake Project. The geophysical trend s have already been partially established.
We want to leverage the historical data, validate i t and generate areas of focus with the goal of
generating quality drill targets. Through intellige nt exploration efforts, Melkior endeavors to
enhance shareholder value.”
Wade Kornik, P.Geo., has approved the information contained in this release. Mr. Kornik is the
Exploration Manager of the Company and is Qualified Person as defined by National Instrument
43-101.
The Company also announces that it has closed its debt settlement announced in its news release
of July 26, 2017. The Company issued at total of 1 ,938,095 common shares at a price of $0.05
per share to extinguish $96,904.75 of debt.
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
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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.