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Highlights:
Results from Summer Phase 1 Prospecting Program, where 103 samples were collected through chip and float sampling on outcrops and historical trenches/blast sites focused on extension targets.
10 rock chip samples yielded greater than 1% copper, with 4 samples above 2% copper (Outcrop or trench wall)
Sample F213572 assayed 12.6% copper, 4.48 g/t gold, 24.4 g/t silver, 0.047% cobalt
5 rock grab samples on float blocks yielded greater than 1% copper, with two samples above 5%
Sample F213671 assayed 7.5% copper, 2.3 g/t gold, 0.036% cobalt
5 rock grab samples on float blocks yielded greater than 1 g/t gold, with the highest result of 43.9 g/t gold.
Sample F213516 assayed 0.095 % copper, 0.7% zinc, 43.9 g/t gold, 23.8 g/t silver
The Company embarked on an aggressive multifaceted exploration program over the course of the summer to uncover the surface footprint of the Genex polymetallic deposit. The program included prospecting focused on the northern extension of the Genex deposit, a beep mat exploration program, as well as a large trenching and channel sampling program.
We anticipate unveiling more comprehensive results on the remaining programs, which include a beep mat exploration program as well as a stripping and channel sampling program.”
This first phase was exploratory and consisted of bedrock and float sampling concentrated first on historical blasted trenches located outside the historical mine perimeter. The prospecting team worked mostly north and northwest of the historical Genex deposit to cover the “claim post” trend where copper-gold-zinc values were obtained from historical blasted trenches and sporadic short diamond drill holes. The chip sampling of bedrock and excavation walls, totaling 79 samples, was accompanied by the sampling of float blocks of close origin. The grab samples totaled 24 samples for this phase. Sampling highlights include the following:
Phase 1 Prospecting Highlights - Chip samples from outcrop and trench walls*
10 rock chip samples yielded greater than 1% copper, with 4 samples above 2% copper
Sample F213816 assayed 3.1% copper, 1.44 g/ gold, 50.1 g/t silver
Sample F213572 assayed 12.6% copper, 4.48 g/t gold, 24.4 g/t silver, 0.047% cobalt
9 rock chip samples yielded greater than 1% zinc, with 3 samples around 2% zinc
Sample F213533 assayed 1.0% copper, 2.7% zinc
Phase 1 Prospecting Highlights - Grab samples from float*
5 rock grab samples on float blocks yielded greater than 1% copper, with two samples above 5%
Sample F213671 assayed 7.5% copper, 2.3 g/t gold, 0.036% cobalt
Sample F213569 assayed 5.3% copper, 2.1 g/t gold, 0.046% cobalt
10 rock grab samples on float blocks yielded greater than 1% zinc, with 2 samples around 10% zinc
Sample F213508 assayed 0.2% copper, 10.7% zinc, 5.46 g/t gold, 22.5 g/t silver
Sample F213512 assayed 0.6% copper, 13.1% zinc
5 rock grab samples on float blocks yielded 1 g/t gold with the highest result of 43.9 g/t gold
Sample F213516 assayed 0.095 % copper, 0.7% zinc, 43.9 g/t gold, 23.8 g/t silver
*See full table in Schedule A
This sampling is preliminary and cannot be comparable to a measured sampling such as a channel sampling or a drill hole.
Figure 1 (Gold Results > 1 g/t Au)
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Figure 2 (Copper Results > 5% Cu)
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Figure 3 : Highlight Sample
Figure 3 : Highlight Sample
Phase 1 Prospecting Summary of Claim Post Target
During the Phase 1 Prospecting Program, a series of 103 samples were collected through chip sampling on outcrops and historical trenches/blast sites focused on extension targets related to the claim post trend, located between 100 and 250 metres north and north-east from the historical Genex “C” Zone.
This first phase aimed at documenting the historical sampled sites around the historical underground working, assessing the indication of gold mineralization, and determining the geological environment in conjunction with geophysics.
The main northern target being tested is a strong conductor and chargeability anomaly of northeast orientation, which coincides with a high metal signal.
As indicated by Sample F213508 (Figure 3) coming from a blasted float block, the claim post mineralization is mainly in the form of foliated volcanic rocks of mafic composition. Alteration assemblages are varied and can be classified as: sericite-quartz, chlorite, carbonate rich and silicified.
Mineralization observed by the teams was primarily comprised of disseminated chalcopyrite, sphalerite, and pyrite.
Schedule A & Table 1: Phase 1 Sampling Highlights
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QA/QC
Rock samples were sent to AGAT in
Qualified Person
All technical information in this press release has been reviewed and approved by
About
ON BEHALF OF THE BOARD
For more information, please contact:
E-mail:info@melkior.com
Tel:226-271-5170
The reader is invited to visit Melkior's websitewww.melkior.com.
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