Melkior Completes Till Survey on its Maseres Property and Stock Options
Timmins, July 9, 2020 - Melkior Resources Inc. ("Melkior" or the "Company") (TSXV:MKR) (OTC:MKRIF) is pleased to announce that it has completed a till sampling survey on its Maseres Property. The Company will provide results once received. The survey consisted of a follow up on soil anomalies that were previously defined by the Company in 2019 (see news release dated October 12, 2018). Following a review performed in early 2020, the Company observed multiple soil anomalies showing a glacial drift pattern, indicating a potential source of the anomalies up-ice from the soil survey and not necessarily directly under the anomalies. The Company then planned and completed a B-horizon till sampling survey on specific areas to better define the presence of a glacial drift over potential mineralized sources.
Covered areas include the SW area from the previously drilled EM targets (see news release dated April 25, 2019). This will allow the Company to further interpret the results from its drill program and to better define additional targets for mineralizations.
Jonathon Deluce, CEO of Melkior, comments: "The follow-up on the previously defined soil anomalies will allow the Company to better interpret the source of the anomalies and further confirm their presence. The confirmation of the anomalies will trigger geophysics surveys on the anomalies to be followed by trenching or drilling."
The soil samples were sent to ALS Laboratory in Val d'Or and will go through AuME-TL44 assaying protocol, which consists of assaying of Au and 46 other elements by aqua regia extraction with ICP-MS finish on a 50 grams sample. Finally, the results will be statistically analyzed to define anomalous thresholds, which will allow the Company to define anomalies and subsequent exploration targets.
Stock Options
The Company announces that it has granted incentive stock options (the "Options") to directors, officers and consultants of the Company for the right to purchase up to an aggregate of 410,000 common shares of the Company, exercisable at the price of $0.80 per share for three years. In the event of resignation from the Company by a director or officer, the Options granted to such director or officer will be subject to an accelerated one-year exercise period commencing on the date of resignation in accordance with the terms of the Company's Stock Option Plan.
Qualified Person
This press release was prepared by Steven Lauzier, P.Geo, OGQ, a qualified person as defined under National Instrument 43-101, and he has reviewed and approved the geological information provided in this news release
ON BEHALF OF THE BOARD
Jonathon Deluce, CEO
For more information, please contact:
E-mail: info@melkior.com
Tel: 226-271-5170
The reader is invited to visit Melkior's web site www.melkior.com.
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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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