Urban Area, Melkior Maseres Project Update
Head Office: 66 Brousseau Ave., Suite 207, Timmins, ON P4N 5Y2 Canada
Urban Area, Melkior Maseres Project Update
June 20, 2017 Trading Symbol: MKR
TSX Venture Exchange
Timmins, Ontario. Melkior Resources Inc. (“Melkior ”) is pleased to announce the reconnaissance
program on the Maseres Project has been completed, assays are pending and an Area of Interest has
been identified. Reconnaissance was focused over a substantial trend of historic airborne EM
anomalies in the northeastern corner of the Maseres Project to determine if there is a correlation
between gold mineralization and the “formational co nductor” on the Maseres Project.
The Maseres Project is located about 14 km southwest of the Osisko Black Dog Deposit. The Black
Dog Project has been reported by Osisko to be a gold-silver-copper discovery in a volcanic sequence
coincident with magnetic and electromagnetic anomal ies and disseminated to semi-massive Au-
Ag-Cu bearing sulfides. The Black Dog appears to be on the same magnetic trend as Bonterra’s
Gladiator Project. One interpretation of magnetic geophysical data suggests that this magnetic trend
is folded and continues through Melkior’s Maseres Project. Mineralized boulders north of Melkior’s
property boundary and co-incident with this formati onal conductor have been reported to contain
11 ppm gold and 2% copper (NR April 13, 2017).
Observations from the reconnaissance program indicate there are extensive sand and gravel deposits
in this area. Topographically elevated areas are g enerally expressions of glacial deposits, not
bedrock. Large rounded granitic boulders, up to the size of a small house, are present. Bedrock is
not common. The bedrock that was observed supports the Maseres project area is underlain by the
southern extension of the Urban-Barry greenstone belt.
An area of interest has been established within the hinge of an inferred multi-kilometer scale fold.
This area of interest is defined by a relative abun dance of large angular locally gossanous boulders,
that lie within close proximity to each other. In s ome cases, these angular, delicate and fragmented
boulders are situated on top of very angular rocks of the same composition that in turn are in very
close proximity to where bedrock of the same composition has been observed. The bedrock observed
is consistent with a moderately metamorphosed transitional sequence of mafic to felsic volcanic rock,
which is in turn is consistent with the formational conductor as defined by the historical airborne
survey.
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Elements prospective for gold mineralization were o bserved within the Area of Interest including:
quartz pyrite veins; strong wall rock alteration; l ocal bleaching; silicification; disseminated pyrite
within altered areas; thin crosscutting pyritic seams; quartz veins with substantial voids potentially
indicating the weathering out of sulfides; gossanou s chloritic shears with thinly laminated quartz
veins.
Angular Boulder in Area of Interest Sample from Area of Interest
Sixty rock samples were taken and have been submitted for analysis. The majority of these samples
were not taken directly from bedrock. The majority of these samples were taken within the defined
Area of Interest.
The Exploration Permit for the Melkior’s Carscallen Project has now completed the public review
period. The MNDM has indicated a decision will be made on awarding the exploration permit by
July 7, 2017. Pending the successful awarding of th e exploration permit, drilling is scheduled to
begin July 10, 2017. The 2017 Exploration Plan is a vailable on the Melkior website
(http://www.melkior.com/wp-content/uploads/MKR-2017-Exploration-Plan.pdf ).
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Jim Deluce, CEO of Melkior states, “This is an exciting time for our new Maseres Project. Melkior
has taken a geological concept, amassed our new Mas eres Project through map staking, reviewed
the historical data and implemented a strategic gro und program, all within six months and for less
than $100,000. The ground program confirms we are o n the right track. Melkior is working hard
to deliver asset appreciation for our shareholders.”
The Company also announces that David Lindsay has r esigned as Chief Financial Officer of the
Company and Joseph Meagher has been appointed in hi s place. Mr. Meagher holds a CPA, CA
designation with a Bachelor of Commerce from the Un iversity of British Columbia. Mr. Meagher
currently serves as Chief Financial Officer and a d irector of several publicly listed
companies. Previously, Mr. Meagher worked at Smyth e Ratcliffe LLP as a manager focusing on
publicly listed and private company audits, as well as staff training and development.
Mr. Lindsay was an integral part of the Company while it transitioned from Ottawa to Timmins and
the Company thanks him for his dedication and service during this challenging time.
Wade Kornik, P.Geo., has approved the information c ontained in this release. Mr. Kornik is the
Exploration Manager of the Company and is 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.