Melkior Resources Inc has announced results from 3,684 meters (m) of drilling at the Carscallen project near Timmins, Ontario, which included 13.4 grams per tonne (g/t) gold over 2.0m in hole CAR-21-20.
The exploration company said the drill program is being operated by Agnico Eagle Mines as part of a $110 million strategic investment and partnership.
“We continue to demonstrate the expansion potential of the high-grade gold-bearing zones within an approximately 2.5 km by 1.2 km, NNW-SSE corridor,” Melkior Resources CEO Jonathon Deluce said in a statement.
READ: Melkior options 100% of the Genex gold-copper project near Timmins, Ontario
“We look forward to commencing our Phase 3 drill program during Q2,” Deluce added.
Melkior noted hole CAR-21-19 successfully extended the mineralized trend 350m northwest of the Zam Zam Zone, which has resulted in identifying multiple high-grade gold-bearing zones.
The company added that a minimum of 4,200m of drilling at Carscallen is currently budgeted for the remainder of the year, which is expected to resume during the second half of 2022.
As well, Melkior said a historical geophysics review is underway to assist with exploration targeting, and a field program is being planned for this summer with a second phase of soil sampling, trenching and field mapping being considered.
Melkior Resources is an exploration stage resource company with its flagship Carscallen project located 25 km from Timmins, Ontario, being advanced by Agnico Eagle Mines through a $110 million option/joint venture agreement.
The firm is also focused on advancing its Val D’Or, White Lake and Maseres projects.
Contact Sean at sean@proactiveinvestors.com