Melkior Drills 77.4 g/t Au over 6.9m in New High-Grade Gold Discovery at Carscallen, Including Project's Highest Grade Gold Interval of 445 g/t Au over 1.2m
Rhea-AI Summary
Melkior Resources has made a significant gold discovery at its Carscallen Gold Property near Timmins, Ontario. The company's winter drill program revealed exceptional results, with drill hole MKR-24-002 intercepting 77.4 g/t gold over 6.9 meters, including a remarkable 445 g/t gold over 1.2 meters - the highest-grade interval in the project's history.
The discovery occurred at the 1010 South Zone, approximately 1 km southwest of the previously successful Shenkman Zone. The mineralization shows strong structural control with steep dipping angles and extends along a 500m strike length. The gold zones are characterized by multiple shear-hosted quartz-sulphide veins and coincide with strongly altered magnetic zones.
Additional drill results include:
- MKR-24-001: 2.58 g/t gold over 0.50 meters
- MKR-24-003: 2.70 g/t gold over 0.80 meters and 1.26 g/t gold over 1.30 meters
Positive
- New high-grade gold discovery with exceptional grades: 77.4 g/t Au over 6.9m
- Highest-grade intercept in project history: 445 g/t Au over 1.2m
- 100% ownership of Carscallen Gold Property
- Multiple gold zones identified (1010, Zamzam, Jowsey, Shenkman) showing property-wide potential
- Gold mineralization extends over 500m strike length
Negative
- Limited drill program size (only 1,200 meters, 5 holes)
- True width of gold intervals not yet established
- Additional drilling required to confirm extension of mineralization
News Market Reaction – MKRIF
In the trading session that priced this news, MKRIF gained 141.34%, reflecting a significant positive market reaction.
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Highlights :
- DH MKR-24-002 intersected 77.4 g/t gold over 6.9 meters including 445 g/t gold over 1.2 meters at the 1010 South Zone (Table 1, Figures 2-5).
- This represents a new high-grade gold discovery at depth of the 1010 South Zone
- This is the highest metal factor (534 g/t) intercept in the Project's history.
- The Company is in the process of planning follow-up holes to test the potential extensions of this high-grade intercept.
- DH MKR-24-001 intersected 2.58 g/t gold over 0.50 meters.
- DH MKR-24-003 intersected two zones 2.70 g/t gold over 0.80 meters and 1.26 g/t gold over 1.30 meters.
Jim Deluce, Company Director, commented: "I am thrilled by this discovery and the work completed this past winter at Carscallen Property. These results, the highest ever at the property, not only demonstrate the continuity of the high-grade vein system along strike and down-dip with the best drill intersections attained to date, but also the potential that Carscallen holds when drilling new zones."
Mr. Deluce continued: "The newly discovered bonanza grade mineralization at the 1010 Gold Zone, together with our high-grade gold prospects at Zamzam, Jowsey and Shenkman gold showings, truly attest to the upside potential of the area for significant mineral discoveries. Our next step is to review the intercept in more detail to determine follow-up holes to expand on this high-grade intercept. We look forward to our next drill campaign as we continue to develop Carscallen."
1010 Gold Zone
The 1010 gold showings are characterized by multiple, anastomosing, shear-hosted, quartz-sulphide veins which are locally enveloped by silica-albite-sericite altered stockwork breccia mineralization in the surface. The gold zones are often steep dipping (> 75 degrees) and often exhibits pinch and swell attitude, reaching to over 500m strike length in a north trend direction. The high-grade gold mineralization is coincident strongly altered, structurally controlled magnetics zones which are overlapping with mod-high IP chargeability (conductors), and moderate resistivity. These classical geophysical signatures are typical in almost all of the gold showings at the Carscallen Property.
In a north-south longitudinal section, the mineralization at 1010 Gold Zone appears to be controlled by fold hinge structure where the 1010N is plunging to the north while the 1010S has a low southerly plunge. Current exploration is focused on testing new gold opportunities and expanding the well- developed gold-bearing mineralization outside the main Zamzam-Jowsey-Shenkman Zones, with additional high-grade ore shoots along series of repeating gold mineralized shears like the 1010 Zone.
Figure 1: Overview of the Carscallen Gold Property near
Figure 2: Carscallen Drill Hole Map overlaid on geological data, highlighting known mineralized zones and gold assay results from past drilling.
Figure 3: Core sample photo from Hole MKR-24-002 (Boxes 46 & 47), displaying high-grade gold intercepts over 6.9 meters (208.5–215.4 m) at 77.40 g/t, including 1.2 meters at 445 g/t. Inset A shows deformed smoky quartz-sulphide veins with visible gold veinlets in highly altered granodiorite/tonalite intrusive rock.
Figure 4: Long section highlighting the recent drilling intercepts from holes MKR-24-001, MKR-24-002, and MKR-24-003 relative to historical drilling at the 1010 Gold Zone.
Figure 5: Carscallen Drill Hole on IP Chargeability (Conductor) Map which highlights known mineralized zones and gold assay distribution from historic drillholes.
Table 1: Selected drill hole assay intercepts (uncut) from 1010 Gold Zone. The True Width of the intervals has not yet been established by drilling.
Project | Drill Hole | From | To | Interval | Gold Grade (g/t) |
Carscallen | MKR_24_001 | 62.5 | 63 | 0.5 | 2.6 |
Carscallen | MKR_24_002 | 208.5 | 215.4 | 6.9 | 77.5 |
Carscallen | MKR_24_002 | 213.5 | 214.7 | 1.2 | 444.7 |
Carscallen | MKR_24_002 | 253 | 256 | 3 | 1.4 |
Carscallen | MKR_24_003 | 123.9 | 124.7 | 0.8 | 2.7 |
Carscallen | MKR_24_003 | 142.3 | 143.6 | 1.3 | 1.3 |
Qualified Person
All technical information in this press release has been reviewed and approved by Martin Ethier, P.Geo. Mr. Ethier is a consultant for Melkior and a Qualified Person for the purposes of National Instrument 43-101.
About Melkior Resources
Melkior Resources Inc. is an exploration-stage resource company operating in world-class mining jurisdictions across
Melkior's flagship projects include the Carscallen Project, the Beschefer East Project, the Genex Project and the Val-d'Or Project. These projects are strategically located in the Abitibi Greenstone Belt, known for hosting significant gold and base metal deposits.
ON BEHALF OF THE BOARD
Keith James Deluce, Director
For more information, please contact:
Melkior Resources Inc.
E-mail: info@melkior.com
Tel: 226-271-5170
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.
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SOURCE Melkior Resources Inc.