Melkior Resources Inc. (TSX-V:MKR) revealed that first-phase drilling had begun in early October this year at its Genex gold-copper project in Timmins, Ontario as the explorer published a completed 3D model of mineralization, which was historically drilled at the property.
Based on the model, which represents the project's historical database of around 330 holes collared for around 69,000 metres (m), Melkior said it had completed a first geological interpretation and found strong targets supported a first drill phase of 3,000 metres (m).
So far, 1,500m have been completed and first batches of samples sent to the lab.
"The 3D model supports the potential to delineate a polymetallic open-pitable resource while targeting a near-surface multi-lense volcanogenic sulphide source and gold enrichment trends," the company told investors.
READ: Melkior Resources expands current drill program at Carscallen project in Ontario
Gold and base metal zones are modelled to a vertical depth of 300m, 300m down dip and 500 metres along strike, while the Genex Zone is open in all directions, it added.
The company's Phase 1 drill program included 14 holes over around 1,800m of drilling.
These holes are designed to infill areas within the historical Genex mine and test extension targets focusing on the area south of the historical zones, said Melkior.
This southern limit drilling will target extending historical results such as 1.96 grams per ton (g/t) gold-equivalent over 39m from one hole, and 2.36 g/t gold-equivalent over 26.8m in another.
Melkior Resources is an exploration stage firm and its flagship Carscallen project is being advanced by Kirkland Lake Gold (Now Agnico Eagle Mines) through a $110 million option/joint venture agreement.
The company is also focused on advancing its Genex, Val D'Or, White Lake and Maseres projects. Agnico Eagle Mines currently owns around 6% of the company.
Contact the author at giles@proactiveinvestors.com