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Last C$0.03 CAD
Change Today +0.005 / 25.00%
Volume 46.5K
As of 2:37 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

melkior resources inc (MKR) Snapshot

Open
C$0.02
Previous Close
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Day Low
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52 Week High
12/4/14 - C$0.06
52 Week Low
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Market Cap
3.3M
Average Volume 10 Days
58.5K
EPS TTM
C$-0.02
Shares Outstanding
131.8M
EX-Date
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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$24.3K
Chief Financial Officer and Corporate Secreta...
Total Annual Compensation: C$28.9K
Compensation as of Fiscal Year 2014.

melkior resources inc (MKR) Key Developments

Melkior Resources Inc. Starts Surface Work at Carscallen, Timmins, Ontario

Melkior Resources Inc. provided the progress on its wholly owned Carscallen gold project which is located approximately 25 kilometres west of the centre of Timmins Ontario and 5.5 kilometres west of Lake Shore Gold Corp.'s West Timmins Mine. Recent (2014) exploration drilling by Lakeshore Gold Corp. has intersected several significant, northeast trending gold zones to the southwest of the Timmins Mine along Hwy 144. Hole HWY-14-48 intersected 5.37 grams/ton Au over 48 meters and hole HWY-14-52 intersected 7.18 grams/ton Au over 24 meters. The Melkior Property adjoins the Lakeshore Gold Corp. property to the east. Past interpretive work by Melkior has indicated similarities of grade and vein morphologies in the Shenkman, Zam Zam and Jowsey gold zones. These zones appear to be part of one larger mineralizing system. As these vein systems appear to be correlated with one another, the zones have been consolidated and renamed the Jowsey Gold Zone. This is a mineralized corridor with a current strike length of approximately 675 metres. Current work consists of a comprehensive surface exploration program over the remaining property including the 1010 Gold Zones, Shenkman/Mystery showing and Wire Gold showing. In addition previously detected chargeability anomalies peripheral to the Jowsey Gold Zone will be investigated. Old workings have been located in close proximity to some of these anomalies and will be sampled. A beep mat survey will be done to identify new areas of interest related to the chargeability anomalies.

Melkior Resources Inc. Announces Completion of an Analysis of Drilling Results on the Carscallen Property Adjoining Lake Shore in West Timmins

Melkior Resources Inc. announced the completion of an analysis of the drilling results on the Carscallen property adjoining Lake Shore in West Timmins. The drill sections were interpreted on 25 metre spacing. A complete compilation and interpretation of geophysical Induced Polarization coverage of Carscallen was undertaken by Exsics Exploration of Timmins. Of particular interest for future exploration are gold intersections below the Carleton granodiorite. Numerous veins extend within the granite. These appear to originate in the underlying volcanics where, to date, there has been limited drilling. Two holes of note are Car-80-2012, 51.7 g/t gold over 3.7 metres. This hole is 70 metres east of hole CAR-79-2012 which encountered 10 metres of 2.53 g/t gold coincident with a copper intercept of 3.55% Cu over 1.35 metres. These intercepts are at a vertical depth of approximately 500 metres below surface and approximately 150 metres below the Carleton granodiorite contact. A number of Induced Polarization chargeability anomalies remain to be explored. Of particular note is the gap between Jowsey and the Lake Shore boundary. A one kilometre long anomaly extending north from Jowsey has also not been explored. There is a 1,200 metre long north-south anomaly located between the Jowsey and 1010 gold zones with no exploration. Several other shorter features also require exploration. A short field program will be undertaken in May on 100% owned Melkior claims in Tiblemont Twp, 40 kilometres east of Val d'Or Quebec.

Melkior Resources Inc. Provides Progress on its Carscallen Gold Project

Melkior Resources Inc. provided progress on its wholly owned Carscallen gold project which is located approximately 25 kilometres west of the centre of Timmins Ontario and 5.5 kilometres west of Lake Shore Gold Corp.'s West Timmins Mine. Melkior's ongoing interpretive work and similarities of grade and vein morphologies in the Shenkman, Zam Zam and Jowsey gold zones, indicate that these zones are part of one larger mineralizing system. As these vein systems appear to be correlated with one another, the zones are being consolidated and renamed as the Jowsey Gold Zone. This is a mineralized corridor with a current strike length of approximately 675 metres. Between the Jowsey Gold Zone and the Aumo Showing, which straddles the Melkior - Lake Shore claim boundary, are approximately 880 metres of untested ground with high priority gold potential. Recent drilling by Melkior intersected 6.56 g/t Au over 1.8 metres located 20 metres from the Lake Shore boundary a deeper hole is planned at this location. This intercept coincides with a strong north south induced polarization ("IP") anomaly which trends north/northwest intersecting the Jowsey Gold Zone. IP chargeability signatures have often coincided with gold bearing vein systems due to the gold being present in association with pyrite mineralization. In effect, approximately 1.5 kilometres of a potentially gold mineralized corridor lies between the north portion of the Jowsey Gold Zone and the Aumo Showing (a historical shaft). The corridor may extend southward onto the Lake Shore property. Mineralization in the Jowsey Gold Zone occurs as discrete pyrite-quartz veins/stringers which contain 10 to 15% pyrite and are typically up to half a meter thick. These epigenetic vein systems exhibit a stacked, en echelon pattern that occurs within the granodiorite pluton and, in some cases, crosscut the granodiorite/mafic metavolcanic contact often becoming wider at depth. The wider zones extend into the mafic metavolcanics. The gold mineralization may also be influenced by late crosscutting carbonatized porphyry dikes which have been mapped in the southern portion of the Jowsey Gold Zone and appear to continue to the north as well. These vein systems are often repetitive by nature, adding to the potential of additional vein systems occurring at depth within the mafic metavolcanics similar to historic drilling which encountered wider intercepts with economic grades. Gold has been detected at other locations within the Carscallen property hence a complete surface exploration program is warranted. A first phase program of infill and deeper drilling on the Jowsey Gold Zone is currently being planned with drill holes targeted to validate the recent interpretation as well as to follow the vein systems at depth. This is designed to increase the potential resource. A second phase program of sectional drilling is being planned on the potentially mineralized area as interpreted from IP between the Aumo gold occurrence and the southern portion of the Jowsey Gold Zone. The drilling will be patterned to intersect the north south IP chargeability trend. In summary, the program currently being planned is recommended as follows: A complete reinterpretation of all surface and drill data. A deeper hole at the Aumo showing. Infill and deep drilling within the Jowsey Gold Zone. Sectional drilling on the 880 metre potentially mineralized trend between the Jowsey Gold Zone and Aumo showing. A comprehensive surface exploration program over the remaining property including the 1010 Gold Zones and Mystery showing.

 

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