Melkior Increases the Launay Gold Property
April 25 2014 - 10:00AM
Marketwired
Melkior Increases the Launay Gold Property
OTTAWA, ONTARIO--(Marketwired - Apr 25, 2014) - Melkior
Resources Inc. ("Melkior")
(TSX-VENTURE:MKR)(PINKSHEETS:MKRIF)(FRANKFURT:MEK) has acquired 53
new claims by map designation covering 23.64 square kilometres in
Launay Township located 40 km west of Amos, Quebec. Launay project
now totals 136 claims and 56.31 square kilometres.
Under the terms of an option and joint-venture agreement signed
with Beaufield Resources Inc. ("Beaufield") in November 2013,
Beaufield has the option to earn an interest of up to 50% in the
Launay project by incurring exploration expenditures aggregating
$1,250,000 over five years, Beaufield will earn 10% interest for
each $250,000 of exploration expenses. To date Beaufield has earned
a 10% interest in the Launay Gold Project. Melkior is the operator
on the Project.
The Launay gold project covers the Launay granitic intrusion
which hosts a gold mineralized trend approximately 3 kilometres
long. The new claims cover volcanic rocks which surround the Launay
altered granite and are adjacent to Melkior's Launay Gold project
and Royal Nickel's Dumont Nickel property. This prospective area
has received little exploration activity in the past and will form
part of the Melkior-Beaufield joint venture.
Melkior considers the Launay property to have significant
potential for a large tonnage gold deposit in an area with
excellent infrastructure. Recent drilling by Melkior on Zone 75 has
indicated wide intersections of gold mineralization:
- 3.92 g/t gold over 13.40 metres in hole LAY-15-2013 (January
13th, 2014 news release)
- 6.20 g/t Gold over 10.5 metres in hole LAY-20-2013 (February
18th, 2014 news release)
- 4.04 g/t gold over 15.52 metres in hole LAY-21-2013 (March
18th, 2014 news release)
Please refer to the Melkior website for the location of the
expanded Launay property.
About the Launay Gold Project:
The Project is located in the active Abitibi Greenstone belt
approximately 70 kilometres northeast of Rouyn-Noranda and 80
kilometres northwest of Val d'Or. It is accessible via highway 111,
30 kilometres west of Amos where all accommodations, supplies and
services are available. Power and rail lines cross the property.
The property consists of 136 claims or 56 square kilometres. The
gold occurs in altered, mineralized granite which has been traced
for at least 3 kilometres. Two zones have seen limited near surface
drilling namely Zone 75 and the Principal Zone. The area remains to
be fully explored along strike and at depth. There is potential for
a significant open pit gold resource.
About Melkior:
Melkior is an exploration company with active gold exploration
projects in West Timmins, Ontario and Launay, Quebec.
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.
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.
Melkior Resources Inc.Jens E. HansenPresident and
CEO613.721.2919613.680.1091info@melkior.comwww.melkior.com
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