Melkior and Beaufield Commence Summer Field Exploration Program on the Launay Gold Project, Quebec
27 June 2014 - 12:15AM
Marketwired
Melkior and Beaufield Commence Summer Field Exploration Program on
the Launay Gold Project, Quebec
OTTAWA, ONTARIO--(Marketwired - Jun 26, 2014) - Melkior
Resources Inc. ("Melkior")
(TSX-VENTURE:MKR)(PINKSHEETS:MKRIF)(FRANKFURT:MEK) is pleased to
announce it has started its summer exploration program on the
Launay gold project located 35 km west of Amos, Quebec.
The exploration program will principally focus on Zone 75 and
consists of channel sampling areas covered by a 2013 grab sample
program. In 2013 several grab samples were taken in and around Zone
75 where several samples returned gold values greater than 1g/t and
corresponded to an albite-rich mineralized zone, referred to as the
"white unit". The zone is oriented north-south and visible at
surface 50 metres north of Zone 75 and 20 metres to the south. The
nearest drill hole is located 50 metres from the white unit. The
channel samples will systematically test the white unit and the
results will be integrated with previous drilling to assist in a
preliminary 43-101 resource estimate on the near surface gold
mineralization.
Further surface prospecting and geological mapping will also be
conducted further south, where favorable gold bearing structures
have been interpreted by geophysical methods.
Melkior considers the Launay property to have significant
potential for a large tonnage gold deposit in an area with
excellent infrastructure. Recent drilling by Melkior and Beaufield
Resources Inc. ("Beaufield) in 2013 and 2014 on Zone 75 has
revealed wide near surface gold mineralized intersections:
- 3.92 g/t gold over 13.40 metres in hole LAY-15-2013 (January
13th news release)
- 6.20 g/t Gold over 10.5 metres in hole LAY-20-2013 (February
18th news release)
- 4.04 g/t gold over 15.52 metres in hole LAY-21-2013 (March
18th news release)
The Launay gold project covers the Launay granitic intrusion
which hosts a gold mineralized trend approximately 3 kilometres
long. Several other gold showings exist outside this trend.
Under the terms of an option and joint-venture agreement signed
in November 2013, Beaufield has the option to earn an interest of
up to 50% in the Launay gold project by incurring exploration
expenditures aggregating $1,250,000 over five years, Beaufield will
earn 10% interest for each $250,000 of exploration expenses. To
date Beaufield has earned a 10% interest. Melkior is the operator
on the project.
About the Launay Gold Project:
The Project is located in the active Abitibi Greenstone belt
approximately 70 kilometres northeast of Rouyn-Noranda and 80
kilometres northwest of Val d'Or. It is accessible via highway 111,
35 kilometres west of Amos where all accommodations, supplies and
services are available. Power and rail lines cross the property.
The property consists of 136 claims or 56 square kilometres and
adjoins Royal Nickel's Dumont Nickel property. The gold occurs in
altered, mineralized granite which has been traced for at least 3
kilometres. Two zones have seen limited near surface drilling
namely Zone 75 and the Principal Zone. The area remains to be fully
explored along strike and at depth. There is potential for a
significant open pit gold resource.
Qualified Person:
This news release has been prepared by Jens E. Hansen, Eng.,
CEO, President and director of Melkior, the Qualified Person, as
defined by National Instrument 43-101.
About Melkior:
Melkior is an exploration company with active gold exploration
projects in West Timmins, Ontario and Launay, Quebec.
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.
This press release may contain
forward-looking statements that are subject to known and unknown
risks and uncertainties that could cause actual results to vary
materially from targeted results. Such risks and uncertainties
include those described in Melkior's periodic reports including the
annual report or in the filings made by Melkior from time to time
with securities regulatory authorities.
Jens E. Hansen, President and CEOMelkior Resources
Inc.613.721.2919613.680.1091info@melkior.comwww.melkior.com
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