OTTAWA, ONTARIO--(Marketwire - July 30, 2010) - Melkior Resources Inc. ("Melkior") (TSX VENTURE:MKR) is pleased to announce it has received assay results from prospecting on its 100% owned Carscallen gold project located in West Timmins, Ontario, Canada. A total of 137 grab samples were collected with assay results of 43g/t gold and 6.6g/t gold with 1.78% zinc.
During May and June 2010 Melkior undertook prospecting to search for new mineral occurrences outside the area of concentrated drilling at the Zam Zam, Shenkman and 1010 zones. Three new gold occurrences were found within the granitic rocks of the Carlton Lake granite pluton. It should be noted that a few deeper holes at the Zam Zam Shenkman have drilled through the granite and entered underlying altered volcanics. The volcanic contact with the granite will be more thoroughly explored by more drilling.
The three new occurrences are:
- Approximately 300 metres south west of the Shenkman zone assays results include 43g/t gold with 30.1g/t silver, 23.7g/t gold with 33g/t silver, 12.2g/t, 7.76g/t, 4.84g/t and 4.11g/t gold. The samples were taken from silicified granite.
- Approximately 200 metres south east of the Mystery zone assays results include 11.15g/t, 8.41g/t, 7.53g/t, 6.1g/t and 3.01g/t gold.
- Approximately 700 metres directly south of the Mystery zone assays results include 6.66g/t gold with 1.775% zinc and 19g/t silver and 4.99g/t gold.
Finding highly anomalous zinc with gold and silver is new to Melkior's exploration of the area and could represent a new and different mineralized source. The occurrence is located on the boundary between Carscallen and Denton townships and also on the boundary between Melkior's claims and those of Lake Shore Gold Corp. An old shaft was observed. This shaft appears on an Ontario map dated 1926. West Timmins Mining Corp owned the claims prior to its acquisition by Lake Shore and there is no indication of any exploration in the immediate area. The new discoveries further confirm the widespread occurrence of gold on the Carscallen gold project.
This Press Release was prepared by Jens E. Hansen, P.Eng, President of Melkior Resources Inc, Qualified Persons under National Instrument 43-101.
About Melkior:
Melkior is a junior exploration company with active exploration projects in West Timmins and the Mc Faulds "Ring of Fire" areas of Ontario. Melkior also holds a 49% interest in the Delta Kenty nickel-copper-platinum-palladium deposit in Ungava and has several other gold properties in Ontario and Quebec. The company is well financed with approximately $6,000,000 in cash and short term investments.
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.
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.