Melkior Resources Inc (CVE:MKR) (OTCMKTS:MKRIF) is starting a high-resolution MAG survey on its Val d’Or, Quebec property in preparation for a planned drill program, it said Tuesday.
The junior explorer said the survey’s configuration will be similar to other companies in the Val d’Or region, which has seen “a lot of success,” with a low altitude, tight line spacing across a length of 2,573 line kilometres.
Over the summer, Melkior completed a soil survey that defined four key targets along the property. The survey will focus primarily on Target 4 along the southern area of the property, where soil anomalies revealed multiple elements such as silver, nickel, cobalt and copper.
READ: Melkior Resources says operator Kirkland Lake Gold has kicked off drilling at Carscallen project in Ontario
Results from the survey will help Melkior define its targets for a drill program planned in early 2020, according to CEO Jonathon Deluce.
“We look forward to reviewing the results of our high-resolution MAG survey at Val d'Or,” Deluce told shareholders in a statement. “This will help the company narrow in our drill targets for the winter 2020 program on Target 4 and determine follow-up on our additional three Targets.”
A drill program recently began at the neighbouring Carscallen gold project, which is being operated by Melkior’s strategic partner, Kirkland Lake Gold. Melkior struck a deal with the mining major to advance Carscallen asset as operator and has the right to earn up to a 75% stake.
Deluce said the firm will review the data received against neighboring successful drill programs to target potential gold mineralization in a district that has produced over 25 million ounces of gold historically.
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