- Melkior Resources (TSXV:MKR) intersected high-grade gold and defined a corridor during a recent drill program on its Carscallen project
- The phase three drill program followed up on previous work done in 2021 and focused on the Shenkman, Zamzam, Mystery, and 1010 zones
- Drilling successfully extended the Shenkman and Zamzam zones
- Also, a new corridor was defined at Shenkman which hosts some of the high-grade gold MKR discovered
- Melkior Resources (MKR) is down 5.00 per cent trading at $0.19 per share as of 2:24 p.m. EST
Melkior Resources (MKR) has intersected high-grade gold and defined a new corridor during its phase three drilling program at its Carscallen project in Ontario.
According to MKR, the phase three drill program followed up on previous work done in 2021. The recent program targeted certain extension holes at the Shenkman and north Zamzam zones, and additional holes were drilled in the Mystery and 1010 zones.
The company stated the 6,283-metre drill program successfully extended the Shenkman zone southwards by 100 metres. It also increased the strike extent of the gold system at Shenkman and the Zamzam zones.
A gold intercept in hole CAR-22-31 was highlighted by MKR, which showed a value of 49.6 grams of gold per tonne over half a metre. Additionally, hole CAR-22-29 was reported to be one of the deepest gold intercepts found north of the project’s 1010 zone. The company believes this confirms the continuity of gold-bearing structures at depth.
“We are excited about these developments from the phase three drill program at the Carscallen gold project,” Jonathon Deluce, CEO of MKR, said. “We continue to demonstrate the expansion potential of the high-grade gold-bearing zones within an approximately 2.5 kilometre by 1.2 kilometre [northwestern-southeastern] corridor.”
Preliminary modelling done by the company identified the high-grade corridor in the Shenkman zone and was targeted in holes CAR-22-25, -28, -31 and -32.
The Carscallen project borders the Genex project, which MKR has under option from International Explorers Prospectors. Carscallen is made up of 344 claim units covering 60 square kilometres.
Melkior Resources (MKR) is down 5.00 per cent, trading at $0.19 per share as of 2:24 p.m. EST.
