Melkior Resources Inc told investors it was reviewing data to define additional targets to explore at its Val D’Or project in Quebec as it posted the latest sample assay results.
The junior explorer said it had now received all 705 sample results from the near 1,500 metre (m), 2021 drill campaign, which was aimed at investigating the geology in the western extension of four mineralized showings outside the property.
"Most of the magnetic structures are oriented E-W and can be followed over long distances. Existing historic mineralization appear to be continuous over those structures and were found at similar relative position in holes from the 2021 campaign," said Melkior in a statement.
Combining historic results with those of 2021 showed that the anomalous zones tended to be parallel to the magnetic lineament, it added.
READ: Melkior Resources says Kirkland Lake Gold set to start another drill program on the Carscallen gold property in Ontario
"It is therefore possible that additional mineralization is present along the lineament and such structures should be investigated with more drilling. West of the 2021 drilling is an open area with the continuity of the structures and the area shows good targets for mineralized extensions," said the company.
Among the highlight results, one hole returned 176 parts per billion (ppb) gold over 1m and 430ppb gold over 0.75m, from a depth of 86m to 87.75m.
Another hole showed several zinc and copper values ranging from 1600 parts per million (ppm) to 3110 ppm zinc and 833 ppm copper over length of 0.7m, the firm reported.
Another hole, sunk in a magnetic low, returned 1.47 grams per ton (g/t) silver over 13m, starting from a depth of 64.5m in a brecciated zone in an altered andesite.
Melkior’s flagship Carscallen project in Ontario is being advanced by Kirkland Lake Gold through a $110M option/joint venture agreement, while its White Lake project is being advanced by Barrick Gold through a $4M option/joint venture agreement.
Melkior owns 100% of the Val D’Or and Maseres projects in Quebec. Kirkland Lake Gold currently owns around 6% of Melkior.
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