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melkior resources inc (MEK) Snapshot

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melkior resources inc (MEK) Details

Melkior Resources Inc., a junior mining exploration company, is engaged in the acquisition and exploration of mining properties in Canada. The company primarily explores for gold, nickel, copper, platinum group metals, chromite, and diamonds. It principal properly consists of the Carscallen Gold Project that comprises 104 claims covering 16.64 square kilometers and is located to the west of Timmins city, Ontario. Melkior Resources Inc. is headquartered in Ottawa, Canada.

melkior resources inc (MEK) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$24.3K
Chief Financial Officer and Corporate Secreta...
Total Annual Compensation: C$28.9K
Compensation as of Fiscal Year 2014.

melkior resources inc (MEK) Key Developments

Melkior Resources Inc. Intersects 6.56 g/t Au over 1.8 Meters, 20 Meters from Lake Shore Boundary

Melkior Resources Inc. announced an intersection of 6.56 g/t Au and 6.3 g/t Ag over 1.8 meters from 48.2 to 50.0 meters including 39.2 g/t Au and 36.3 g/t Ag over 0.3 meters from 48.5 to 48.8 meters in drill hole MKR-14-03 on the Aumo gold project which straddles the claim boundary between Melkior Resources to the North and Lake Shore Gold Corp. to the south. The drilling occurred on Melkior's Carscallen property which lies approximately 25 kilometres west of Timmins, Ontario and approximately 5.5 kilometres west of Lake Shore Gold's 144 Zones. Two short drill holes were drilled in late 2014 to test induced polarization chargeability conductors one of which coincided with the location of the historic Aumo gold shaft. The drill hole intercept in MKR-14-03 occurred approximately 38 meters vertically below surface and 40 meters north of the Aumo shaft. The second drill hole MKR-14-04, collared approximately 200 meters west of the first drill hole was designed to test an IP chargeability conductor and intersected a sulphide enriched silicified and carbonatized alteration zone within granodiorite with elevated gold responses. The intersection, while subeconomic, was encouraging enough to warrant further investigation as the grades within these alteration zones historically have been known to produce more economic grades with depth. The intercept in MKR-14-03 was surrounded by a sericitized and sheared alteration zone hosting a narrow quartz-pyrite-pyrrhotite veinlet within altered granodiorite and is believed to correspond to the historic Aumo shaft gold mineralization. The intercept further coincides with a strong north south induced polarization conductor which trends north approximately 500 meters then trends northwest for 450 meters to the Shenkman Zone. The current drilling on the Lake Shore boundary targeting Melkior Induced Polarization trends indicates possible continuity from Zam Zam south to the Lake Shore boundary and beyond. This underscores the potential of this area as fertile ground for gold exploration and mineralization along strike and at depth both north and south of the boundary. Melkior is continuing to advance interpretive work on the Zam Zam and Jowsey zones with the intent of correlating these vein systems with the Shenkman zone to the south. Planning for selective infill drilling in conjunction with discriminatory resampling of the historic drill core to validate the reinterpretation is continuing. The contents of this press release have been reviewed by Peter Caldbick, P.Geo, the Timmins area Project Manager for Melkior Resources Inc. and a Qualified Person as defined by National Instrument 43-101. The drill core was split and delivered to a commercial laboratory. Samples were submitted to Actlabs Laboratories in Timmins, Ontario. The processed samples were subjected to a standard fire assay and AA technique with gravimetric finish. Whole metallic assays were performed on samples containing visible gold. Check assays were also performed on pulps and rejects, as well, blanks, standards and duplicates were inserted into the sample stream. On each tray of 42 samples there are two blanks, three sample duplicates and two certified reference materials.

Melkior Resources Inc. Reports Timmins Exploration Progress

Melkior Resources Inc. is progressing on a reinterpretation of the Shenkman, Zam Zam and Jowsey gold zones. To date, 11 disparate gold bearing vein systems have been delineated within the Shenkman zone for a strike length of 150 metres. The vein systems trend 330 degrees northwest, exhibit continuity and are open at depth. Seven vein systems have been identified within the granodioritic intrusive and four vein systems have been identified within the mafic volcanic footwall. The mineralized zones hosted within the mafic volcanics below the granodiorite appear to be wider with better grades and would suggest greater potential for economic mineralization. Current interpretive work is focussing on the Zam Zam and Jowsey zones which are separated from the Shenkman by a 100 metre untested gap. It is believed that all vein systems may be correlated over a potential strike length of 600 metres. The vein systems have been incorporated into mineralized corridors from previous workers and consist of narrow gold bearing quartz veins with appreciable amounts of sulphide hosted within silicified, carbonatized and sericitized alteration zones. The Wire Gold showing, approximately 500 metres east of the Zam Zam Jowsey vein systems, was drilled in early to mid November and two drill holes were targeted under a channel sample that returned 7.9 g/t Au over 2.5 metres. The Wire Gold occurrence is a more localized feature with a different geological encounter strong sulphide mineralization accompanying a quartz breccia but returned subeconomic gold values. The structural zone encountered did produce anomalous gold, copper and zinc values which support a hypothesis that the Wire Gold showing may have been the late stage portion of a deeper VMS feeder system. The project will be re-evaluated to determine if further deeper drilling is warranted.

Melkior Resources Inc., Annual General Meeting, Feb 24, 2015

Melkior Resources Inc., Annual General Meeting, Feb 24, 2015., at 11:00 US Eastern Standard Time. Location: 3208 Richmond Road, Ottawa. Agenda: To approve the corporation's audited financial statements for the fiscal year ended August 31, 2014 and the auditors' report thereon; to elect the directors of the corporation for the upcoming year; to re-appoint Raymond Chabot Grant Thornton, Chartered Accountants, as auditors for the upcoming year, and to authorize the directors to fix their remuneration; and to approve the transaction of such other business as may properly come before the meeting and any adjustment thereof.

 

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