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Last C$0.05 CAD
Change Today +0.015 / 42.86%
Volume 395.8K
MKR On Other Exchanges
Symbol
Exchange
Venture
OTC US
Berlin
As of 3:58 PM 01/27/15 All times are local (Market data is delayed by at least 15 minutes).

melkior resources inc (MKR) Snapshot

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Previous Close
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52 Week High
12/4/14 - C$0.06
52 Week Low
06/2/14 - C$0.03
Market Cap
6.6M
Average Volume 10 Days
102.3K
EPS TTM
C$-0.03
Shares Outstanding
131.8M
EX-Date
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P/E TM
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Current Stock Chart for MELKIOR RESOURCES INC (MKR)

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melkior resources inc (MKR) 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 (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. 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. Commences Drilling at Wire Gold Occurrence in Timmins, Ontario

Melkior Resources Inc. announced it has commenced drilling and thus far has completed two drill holes on the Wire Gold occurrence located approximately 500 metres east of the Shenkman/Zam Zam gold zones in Carscallen Township, 25 kilometres west of Timmins Ontario. The company's Carscallen property is approximately 5.4 kilometres west of Lake Shore Gold Corp.'s current drilling on the 144 zones and shares approximately 9 kilometres of common boundary with Lake Shore. Channel sampling on the northern portion of the Wire Gold showing produced 7.9 grams per tonne gold and 2.87 grams per tonne silver over 2.5 metres including 11.4 grams per tonne gold and 4.4 grams per tonne silver over 1.0 metre. A separate location approximately 30 metres southeast of these channel samples returned 10.3 grams per tonne gold over 1.0 metres. Both channel sampled locations occurred within east-west trending quartz-carbonate infilled tension gashes crosscutting the contact between the mafic metavolcanics and banded iron formation. It is believed that these transitional breccia zones along the mafic/iron formation contacts may represent sulphide rich feeder zones with late crosscutting quartz carbonate tension gashes acting as repositories for hydrothermal gold bearing fluids.

Melkior Resources Inc. Reports Results from Channel Sampling Program on the Wire Gold

Melkior Resources Inc. report the results from a channel sampling program on the Wire Gold showing located approximately 500 metres east of the Shenkman/Zam Zam gold zones in Carscallen Township 25 kilometres west of Timmins Ontario. The Wire Gold occurrence was known for producing spectacular samples of visible gold and consists of an oxide facies iron formation trending north south hosted within mafic metavocanics that are, in turn, crosscut by east-west trending quartz-carbonate in filled tension gashes. Channel sampling on the north portion of the exposure produced 11.4 g/t Au (gold), 4.4 g/t Ag (silver) over 1.0 metre, 9.93 g/t Au, 3.7 g/t Ag over 0.5 metres and 3.37 g/t Au, 1.8 g/t Ag over 1.0 metre or 7.98 g/t Au, 2.87 g/t Ag over 2.5 metres. The samples occurred within what is described as a brecciated transitional zone along the contact between the mafic volcanics and banded iron formation with late cross-cutting quartz-carbonate infilled tension gashes and coarse grained pyrite. On a separate location approximately 30 meters southeast of these channel samples, another sample returned 10.3 g/t Au over 1.0 meter and occurred within east-west trending quartz-carbonate infilled tension gashes crosscutting the contact between the mafic metavolcanics and banded iron formation. It has been suggested that these transitional breccia zones along the contacts may represent feeder zones with sulphide rich matrices and late crosscutting quartz carbonate tension gashes acting as repositories for hydrothermal gold bearing fluids. Melkior plans to drill under the two separate locations that may represent these sulphidized feeder breccia zones within the next two weeks. This will be the first time Melkior has drilled under the Wire Gold showing. Overburden is typically quite shallow which facilitates exploration at Carscallen. Based upon the similarities in gold mineralization settings with the nearby Shenkman/Zam Zam gold zones, it has been hypothesized that there may be a common feeder system to these gold zones. The channel samples were cut 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 with AA technique on a 30-gram sample. On each tray of 42 samples there are two blanks, three sample duplicates and 2 certified reference materials.

 

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