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melkior resources inc (MKR) Details

Melkior Resources Inc., an exploration stage company, engages in the acquisition, exploration, and evaluation of mineral resource properties in Ontario and Quebec, Canada. It explores for gold, uranium, nickel, copper, molybdenum, zinc, and platinum group metals. The company primarily holds a 100% interest in the Carscallen Gold property, which consists of 104 claim units covering approximately 16.64 square kilometers located to the west of the city of Timmins; and a 100% interest in the Launay Gold property that comprises 144 claim units covering a total area of approximately 63 square kilometers located to the northwest of the city of Val d’Or, Quebec. Melkior Resources Inc. is headquartered in Montreal, Canada.

melkior resources inc (MKR) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$47.6K
Chief Financial Officer and Corporate Secreta...
Total Annual Compensation: C$19.2K
Compensation as of Fiscal Year 2013.

melkior resources inc (MKR) Key Developments

Melkior Resources Inc. Provides Results from Surface Channelling Program Completed in November 2013 on its Carscallen Gold Project in Timmins, Ontario

Melkior Resources Inc. is providing results from a surface channelling program completed in November 2013 on its Carscallen Gold Project in Timmins, Ontario. The program was undertaken concurrently with drilling to evaluate the near surface portion of the ZamZam zone to permit a preliminary near surface resource calculation. ZamZam is the northern portion of the ZamZam-Shenkman-Mystery system of gold bearing veins that have been detected over a distance of approximately 1,000 meters and drilled at 50 to 100 meter spacing to a depth of 400 meters. Approximately 90% of the holes drilled have encountered gold values of greater than 1 g/t and widths of up to 13 meters. Gold occurrences are widespread on the Carscallen property with a total of seven zones discovered to date. The presently announced channel sampling was undertaken to extend the drilled zone to surface. A close spacing of 2 meters between samples was undertaken to understand, in detail, the variation in the grade and width along a portion of the vein or vein systems. Some of the values encountered in drilling beneath the veins were reported in the following holes: 40.40 g/t over 0.65 meters (CAR-86-2013), 34.06 g/t over 1.50 meters (CAR-87-2013) and 80.50 g/t over 0.55 meters (CAR-88-2013). The north-south trending ZamZam zone was sampled by 14 parallel east-west channels spaced at approximately 2 meter intervals over a strike length of 24.70 meters.

Melkior Resources Inc. Provides Drilling Update of Zone 75 on its Launay Gold Project in Québec

Melkior Resources Inc. provided results for five holes drilled in December 2013 on Zone 75, totaling 594 metres, on its Launay Gold Project in Québec. The main objective of the drill program is to determine a near-surface resource on Zone 75. The drilling continues to demonstrate the continuity of gold mineralization at Zone 75. Highlights include 4.04 g/t gold over 15.52 metres (LAY-21-2013), including 5.10 g/t goldover 11.52 metres; 1.29 g/t gold over 15.35 metres (LAY-22-2013); 1.14 g/t gold over 34.50 metres (LAY-22A-2013). The results confirm the presence of gold over a distance of at least 175 metres along strike and at least two parallel mineralized zones. Gold occurs in two distinct mineralization styles. Near surface, gold is hosted in a hematized pink granite including several quartz veinlets and a dense fracture network associated with pyrite and sericite alteration. Gold intersected in a second zone is hosted in a white to light pinkish-grey granite due to strong albite alteration and weak hematization. Pyrite typically occurs as disseminated grains (up to 5% pyrite). The albitized granite contains higher grades as indicated by 6.20 g/t gold on 10.50 metres, hole LAY-20-2013. The present drill program began in November 2013 and was completed in January 2014. In total 19 holes, comprising 2,589.6 metres, were drilled. The results from 11 holes were released in January and February 2014. Three exploration holes are still pending and will be released when the results are compiled. The 3 holes were drilled to test an Induced Polarization (IP) target and possible extensions of Zone 75. Gold mineralization in the area is typically associated with IP anomalies due to the presence of pyrite. Several mineralized intersections from the drilling program are open and additional sampling is planned for this spring as well as some surface channels to link mineralization on surface to the main mineralized zone intersected by the drilling.

Melkior Resources Inc. Provides Results for the Final Nine Holes Drilled on its Carscallen Gold Project in Timmins, Ontario

Melkior Resources Inc. provided results for the final nine holes drilled in November 2013 on its Carscallen Gold Project in Timmins, Ontario. The results continue to demonstrate the consistency and continuity of the gold rich ZamZam zone to a vertical depth of 80 to 115 metres. Highlights include: -- 140.50 g/t gold over 0.6 metres and 9.53 g/t gold over 1.70 metres, including 31.00 g/t over 0.5 metres (CAR-94-2013) -- 23.70 g/t gold over 0.6 metres (CAR-98-2013) -- 7.36 g/t gold over 1.35 metres (CAR-99-2013) -- High grade gold mineralization demonstrating consistency and continuity from surface to a vertical depth of 80 to 115 metres. The November 2013 drill program completed 15 holes, totalling 1365 metres. The holes were collared to intersect the ZamZam zone at an approximate vertical depth of 80 to 115 metres along the strike and at an approximate 30 metre spacing to systematically test the internal variations of grades and type of veining. Previously released results from the first six holes included 34.06 g/t Au over 1.50 metres, 40.40 g/t Au over 0.65 metres and 25.70 g/t Au over 0.50 metres. For the program, samples that graded over one gram per ton were re-sent for analysis using a screening method. The gold screening method provides greater accuracy when dealing with high-grade material, which is typically more susceptible to the nugget effect associated with conventional fire assay on a 30 gram sub-sample. The screening method uses a larger sub-sample, 1000 grams, that is screened in a 100 µm mesh and then fire assayed. Table 2 below indicates the comparison between assays reported on November 28th, 2013 and the new screened assays. It can be concluded that at Carscallen there appears to be significant free gold for some sections grading above 1 g/t gold. The upper portion of the ZamZam gold zone consists of a gold vein structure of varying width and grade. There appears to be a direct relationship between sulphide content and gold grade. Narrower widths typically yield higher grades. Several holes encountered more than one vein.


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