Melkior Yields up to 12.6% Copper, 43.9 g/t Gold and 13.1% Zinc in Phase 1 Prospecting at Genex
Head Office: 66 Brousseau Ave, Suite 207, Timmins, ON, P4N 5Y2, Canada
Melkior Yields up to 12.6% Copper, 43.9 g/t Gold and 13.1% Zinc in Phase 1 Prospecting at
Genex
October 04, 2023 Trading Symbol:MKR
TSX Venture Exchange
Highlights:
• Results from Summer Phase 1 Prospecting Program, where 103 samples were collected through chip
and float sampling on outcrops and historical trenches/blast sites focused on extension targets.
• 10 rock chip samples yielded greater than 1% copper, with 4 samples above 2% copper (Outcrop
or trench wall)
o Sample F213572 assayed 12.6% copper, 4.48 g/t gold, 24.4 g/t silver, 0.047% cobalt
• 5 rock grab samples on float blocks yielded greater than 1% copper, with two samples above 5%
o Sample F213671 assayed 7.5% copper, 2.3 g/t gold, 0.036% cobalt
• 5 rock grab samples on float blocks yielded greater than 1 g/t gold, with the highest result of 43.9
g/t gold.
o Sample F213516 assayed 0.095 % copper, 0.7% zinc, 43.9 g/t gold, 23.8 g/t silver
Timmins, Ontario. Melkior Resources Inc. (“ Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is
pleased to announce the results from its Phase 1 Summer Prospecting 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 Company embarked on an aggressive multifaceted exploration program over the course of the summer to
uncover the surface footprint of the Genex polymetallic deposit. The program i ncluded prospecting focused on
the northern extension of the Genex deposit, a beep mat exploration program, as well as a large trenching and
channel sampling program.
Jonathon Deluce, CEO of Melkior, states, “We are excited to announce these str ong results from our Phase 1
prospecting program at Genex. These initial efforts were successful in validating the gold potential of the Claim
Post trend located between 100 and 250 metres north of the historical Genex Mine. We believe these results
support the expansion potential of the mineralized system to the north that has seen limited historical drilling
We anticipate unveiling more comprehensive results on the remaining programs, which include a beep mat
exploration program as well as a stripping and channel sampling program.”
This first phase was exploratory and consisted of bedrock and float sampling concentrated first on historical
blasted trenches located outside the historical mine perimeter. The prospecting team worked mostly north and
northwest of the historical Genex deposit to cover the “claim post” trend where copper -gold-zinc values were
obtained from historical blasted trenches and sporadic short diamond drill holes. The chip sampling of bedrock
and excavation walls, totaling 79 samples, was accompanied by the sampling of float blocks of close origin. The
grab samples totaled 24 samples for this phase. Sampling highlights include the following:
Phase 1 Prospecting Highlights - Chip samples from outcrop and trench walls*
• 10 rock chip samples yielded greater than 1% copper, with 4 samples above 2% copper
o Sample F213816 assayed 3.1% copper, 1.44 g/ gold, 50.1 g/t silver
o Sample F213572 assayed 12.6% copper, 4.48 g/t gold, 24.4 g/t silver, 0.047% cobalt
• 9 rock chip samples yielded greater than 1% zinc, with 3 samples around 2% zinc
o Sample F213533 assayed 1.0% copper, 2.7% zinc
Phase 1 Prospecting Highlights - Grab samples from float*
• 5 rock grab samples on float blocks yielded greater than 1% copper, with two samples above 5%
o Sample F213671 assayed 7.5% copper, 2.3 g/t gold, 0.036% cobalt
o Sample F213569 assayed 5.3% copper, 2.1 g/t gold, 0.046% cobalt
• 10 rock grab samples on float blocks yielded greater than 1% zinc, with 2 samples around 10% zinc
o Sample F213508 assayed 0.2% copper, 10.7% zinc, 5.46 g/t gold, 22.5 g/t silver
o Sample F213512 assayed 0.6% copper, 13.1% zinc
• 5 rock grab samples on float blocks yielded 1 g/t gold with the highest result of 43.9 g/t gold
o Sample F213516 assayed 0.095 % copper, 0.7% zinc, 43.9 g/t gold, 23.8 g/t silver
*See full table in Schedule A
This sampling is preliminary and cannot be comparable to a measured sampling such as a channel sampling or a drill hole.
Figure 1 (Gold Results > 1 g/t Au)
Figure 2 (Copper Results > 5% Cu)
Figure 3 : Highlight Sample
Phase 1 Prospecting Summary of Claim Post Target
• During the Phase 1 Prospecting Program, a series of 103 samples were collected through chip sampling
on outcrops and historical trenches/blast sites focused on extension targets related to the claim post trend,
located between 100 and 250 metres north and north-east from the historical Genex “C” Zone.
• This first phase aimed at documenting the historical sampled sites around the historical under ground
working, assessing the indication of gold mineralization, and determining the geological environment in
conjunction with geophysics.
• The main northern target being tested is a strong conductor and chargeability anomaly of north east
orientation, which coincides with a high metal signal.
• As indicated by Sample F213508 (Figure 3) coming from a blasted float block, the claim post
mineralization is mainly in the form of foliated volcanic rocks of mafic composition . Alteration
assemblages are varied and can be classified as: sericite-quartz, chlorite, carbonate rich and silicified.
• Mineralization observed by the teams was primarily comprised of disseminated chalcopyrite, sphalerite,
and pyrite.
Schedule A & Table 1: Phase 1 Sampling Highlights
Sample No UTM nad83_X UTM nad83_Y Type Cu % Zn % Ag (g/t) Au (g/t) Sample No UTM nad83_X UTM nad83_Y Type Cu % Zn % Ag (g/t) Au (g/t)
F213501 458899 5370652 Outcrop 0.0 0.0 -0.50 0.00 F213587 458921 5370568 Outcrop 0.0 0.1 0.50 0.01
F213502 458899 5370650 Subcrop 0.1 0.0 -0.50 0.09 F213588 458916 5370574 Outcrop 0.0 0.2 1.10 0.02
F213503 458897 5370652 Outcrop 0.0 0.0 -0.50 0.01 F213589 458916 5370581 Outcrop 0.0 1.5 -0.50 0.01
F213504 458898 5370652 Outcrop 0.6 0.1 1.50 0.15 F213591 458922 5370581 Outcrop 0.1 0.4 1.80 0.02
F213505 458897 5370653 Outcrop 0.4 0.1 0.80 0.02 F213592 458922 5370583 Outcrop 0.2 1.0 5.20 0.03
F213507 458737 5370542 Outcrop 0.0 0.3 -0.50 0.01 F213593 458573 5370629 Subcrop 0.0 0.0 7.80 0.01
F213513 458741 5370548 Outcrop 0.0 0.2 -0.50 0.08 F213594 458581 5370625 Outcrop 0.0 0.0 -0.50 0.01
F213514 458737 5370544 Outcrop 0.1 0.5 0.90 0.05 F213595 458568 5370688 Outcrop 0.0 0.0 -0.50 0.00
F213515 458744 5370539 Outcrop 0.3 1.0 1.50 0.21 F213596 458569 5370687 Outcrop 0.0 0.1 -0.50 0.01
F213517 458730 5370527 Outcrop 0.0 0.0 -0.50 0.02 F213597 458552 5370690 Subcrop 0.0 0.0 -0.50 0.01
F213519 458726 5370520 Outcrop 1.6 1.6 6.40 0.08 F213598 458877 5370153 Outcrop 0.0 0.0 0.70 0.04
F213521 458725 5370523 Outcrop 0.1 0.1 -0.50 0.01 F213599 458877 5370153 Outcrop 0.0 0.3 1.30 0.08
F213525 458727 5370522 Outcrop 0.7 1.4 4.30 0.21 F213801 458871 5370157 Outcrop 0.0 0.1 1.30 0.08
F213527 458750 5370504 Outcrop 0.0 0.0 2.00 0.16 F213802 458875 5370153 Outcrop 0.0 0.3 1.90 0.07
F213531 458727 5370522 Outcrop 0.1 0.0 -0.50 0.01 F213803 458875 5370153 Outcrop 0.0 0.1 1.80 0.08
F213532 458727 5370522 Outcrop 2.3 2.7 9.50 0.47 F213804 458909 5370161 Outcrop 0.0 0.0 -0.50 0.01
F213533 458723 5370525 Outcrop 1.0 2.7 4.80 0.08 F213805 458902 5370161 Outcrop 0.0 0.0 -0.50 0.00
F213534 458705 5370235 Outcrop 0.1 0.0 -0.50 0.06 F213806 458795 5370042 Outcrop 0.0 0.0 -0.50 0.01
F213535 458698 5370239 Outcrop 0.0 0.0 -0.50 0.02 F213807 458777 5370246 Subcrop 0.0 0.2 2.40 0.12
F213536 458695 5370239 Outcrop 0.1 0.3 -0.50 0.04 F213808 458781 5370250 Subcrop 0.0 0.1 -0.50 0.02
F213537 458694 5370241 Outcrop 0.0 0.1 -0.50 0.01 F213812 458760 5370571 Outcrop 0.0 0.1 1.10 0.03
F213538 458691 5370242 Outcrop 0.4 0.1 1.50 0.39 F213813 458749 5370572 Outcrop 0.0 0.0 -0.50 0.02
F213539 458693 5370293 Outcrop 1.3 1.5 3.70 0.81 F213814 458756 5370566 Outcrop 0.7 0.6 56.70 0.31
F213541 458693 5370241 Outcrop 0.0 0.0 -0.50 0.02 F213815 458758 5370565 Outcrop 1.1 2.9 60.30 0.32
F213542 458706 5370233 Outcrop 0.2 0.1 0.60 0.50 F213816 458776 5370555 Outcrop 3.1 0.7 50.10 1.44
F213543 458708 5370233 Outcrop 0.4 0.0 1.30 0.17
F213544 458696 5370242 Outcrop 0.0 0.0 -0.50 0.01
F213545 458748 5370501 Outcrop 2.1 0.6 9.50 0.57
F213547 458733 5370488 Outcrop 0.0 0.0 -0.50 0.01
F213549 458714 5370484 Outcrop 0.0 0.0 1.00 0.03 Sample No UTM nad83_X UTM nad83_Y Type Cu % Zn % Ag (g/t) Au (g/t)
F213551 458634 5370431 Subcrop 0.0 0.0 -0.50 0.00 F213548 458733 5370486 Float 0.0 0.0 -0.50 0.01
F213552 458587 5370505 Outcrop 0.0 0.0 -0.50 0.00 F213546 458689 5370243 Float 0.0 0.1 -0.50 0.01
F213554 458670 5370515 Outcrop 0.0 0.2 -0.50 0.03 F213562 458716 5370309 Float 0.6 0.1 2.90 0.02
F213555 458726 5370695 Outcrop 0.0 0.0 -0.50 0.02 F213811 458761 5370572 Float 0.6 0.1 6.90 0.04
F213556 458675 5370698 Outcrop 0.0 0.0 -0.50 0.01 F213563 458715 5370309 Float 0.5 0.0 4.70 0.05
F213557 458672 5370690 Outcrop 0.0 0.0 -0.50 0.04 F213529 458749 5370506 Float 0.0 0.0 0.50 0.06
F213558 458648 5370687 Outcrop 0.0 0.0 -0.50 0.01 F213522 458729 5370523 Float 0.1 1.4 2.00 0.11
F213559 458651 5370687 Outcrop 0.0 0.0 -0.50 0.01 F213553 458625 5370510 Float 0.0 0.0 -0.50 0.11
F213561 458683 5370704 Outcrop 0.0 0.0 -0.50 0.01 F213568 458904 5370657 Float 1.0 0.2 7.80 0.14
F213572 458902 5370657 Subcrop 12.6 0.3 24.40 4.48 F213528 458750 5370503 Float 0.5 1.3 2.20 0.15
F213573 458904 5370661 Subcrop 0.7 0.1 1.30 0.04 F213506 458737 5370532 Float 0.0 0.3 0.60 0.20
F213574 458897 5370664 Subcrop 1.6 12.4 4.40 0.30 F213524 458719 5370529 Float 0.5 1.9 4.70 0.23
F213575 458898 5370660 Outcrop 1.6 0.4 3.10 0.07 F213512 458746 5370546 Float 0.6 13.1 4.70 0.23
F213576 458941 5370451 Outcrop 0.0 0.0 0.60 0.01 F213523 458729 5370522 Float 0.8 3.9 10.80 0.32
F213577 458939 5370457 Outcrop 0.0 0.0 -0.50 0.01 F213518 458726 5370527 Float 0.1 4.3 5.00 0.45
F213578 458933 5370458 Outcrop 0.0 0.0 -0.50 0.01 F213809 458758 5370534 Float 0.0 0.1 2.10 0.67
F213579 458942 5370477 Outcrop 0.0 0.4 3.20 0.02 F213526 458746 5370506 Float 1.3 3.1 11.20 0.86
F213581 458917 5370507 Outcrop 0.0 0.0 1.00 0.01 F213509 458745 5370539 Float 0.7 3.6 8.40 0.92
F213582 458927 5370534 Subcrop 0.0 0.4 -0.50 0.01 F213571 458901 5370659 Float 1.0 0.2 15.40 1.30
F213583 458921 5370558 Outcrop 0.0 0.1 1.10 0.02 F213511 458747 5370539 Float 1.2 4.2 6.80 1.74
F213584 458919 5370561 Outcrop 0.1 0.1 0.70 0.01 F213569 458905 5370653 Float 1.0 0.1 12.20 2.10
F213585 458920 5370562 Outcrop 0.2 0.0 1.20 0.02 F213508 458741 5370540 Float 0.2 10.7 22.50 5.46
F213586 458919 5370571 Outcrop 0.0 0.0 -0.50 0.01 F213516 458741 5370530 Float 0.1 0.7 23.80 43.90
QA/QC
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 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, Val D’Or, Whit e 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.