ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

MKR Melkior Resources Inc

0.095
0.005 (5.56%)
Last Updated: 18:09:10
Delayed by 15 minutes
Share Name Share Symbol Market Type
Melkior Resources Inc TSXV:MKR TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.005 5.56% 0.095 0.09 0.10 0.095 0.09 0.09 34,000 18:09:10

Melkior Increases the Launay Gold Property

25/04/2014 3:00pm

Marketwired Canada


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Melkior Resources Inc.
Jens E. Hansen
President and CEO
613.721.2919
613.680.1091 (FAX)
info@melkior.com
www.melkior.com

1 Year Melkior Resources Chart

1 Year Melkior Resources Chart

1 Month Melkior Resources Chart

1 Month Melkior Resources Chart