leadf
logo-loader
viewMelkior Resources Inc.

Melkior Resources says operator Kirkland Lake Gold has kicked off drilling at Carscallen project in Ontario

The junior explorer has struck a deal with the mining major to advance its Carscallen asset as operator and has the right to earn up to a 75% stake

Melkior Resources Inc. -
Carscallen sits 25km west of Timmins and is 6km west of Pan American Silver's West Timmins mine

Melkior Resources Inc (CVE:MKR) (OTCMKTS:MKRIF) (FRA:MEK1) revealed Kirkland Lake Gold Ltd (TSE:KL) had kicked off a 3,800 metre (m) drill program at its Carscallen project in Ontario. 

As reported last month, the junior explorer struck a deal with the mining major to advance its Carscallen asset as operator and has the right to earn up to a 75% stake. 

READ: Melkior Resources eyeing next major gold discovery in Canada via landmark partnership with Kirkland Lake Gold

Carscallen sits 25 kilometers (km) west of Timmins and is 6km west of Pan American Silver's West Timmins mine and the main aims of this drilling program are to test for sustained gold grades at depth and for continuity up-dip and northwest-southeast along strike of previous encouraging drill results.

It will also evaluate possible new targets for future drilling including areas to the north, south and to the depth of the Zam Zam - Shenkman Trend, where little to no drilling has been completed for over 1km in each direction.

Previous work has identified high-grade gold in multiple locations including the Zam Zam Zone, Shenkman Zone, 1010 Zone, Jowsey Zone, and Behemoth Zones, noted  Jonathon Deluce, CEO of Melkior.

"The planned program which includes drilling along strike and to the depth of the Zam - Zam-Shenkman Trend provides a very exciting target and we are optimistic that the new drilling will continue to extend the strike length and prove continuity amongst the high-grade veins encountered to date," he said.

Previous drill highlights include 25.7 grams per ton (g/t) gold over 6m, 350m below surface from the south edge of the Shenkman zone in one hole. Another hole hit 5.68 g/t gold and 6.4 g/t silver over 9.5m, including 67.9 g/t gold, 79.8 g/t silver and 0.62 % copper over 0.5m from an area 260m to the south of the Shenkman Zone.

Contact the author at giles@proactiveinvestors.com

Quick facts: Melkior Resources Inc.

Price: 0.9 CAD

TSX-V:MKR
Market: TSX-V
Market Cap: $19.17 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Melkior Resources Inc. named herein, including the promotion by the Company of Melkior Resources Inc. in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Melkior Resources announces joint venture with Barrick Gold on their White...

Melkior Resources (CVE: MKR) CEO Jonathon Deluce joined Steve Darling from Proactive with news the company has announced the closing of an option and joint venture agreement with Barrick Gold Inc, a wholly-owned subsidiary of Barrick Gold Corp. Deluce telling Proactive this deal allows...

1 week, 3 days ago

2 min read