(via TheNewswire)
Highlights:
16.8 gpt Gold over 1.5 meters, including 49.6 gpt Gold over 0.5 meters in CAR-22-31
CAR-22-31 successfully extended the strike extent of the
CAR-22-31 successfully extended the strike extent of theShenkman Zone by 100 meters to the southShenkman Zone by 100 meters to the southCAR-22-27 increases the total strike extent of the gold system to 2.5 kilometers across the Zamzam and Shenkman Zones (Between CAR-22-27 and CAR-20-06)
CAR-22-29 is one of the deepest gold intercepts in the 1010
North Zone , confirming the continuity of the gold-bearing structures at depth
Program Highlights:
The Carscallen Gold Project lies within the township of Carscallen, approximately 25 kilometers southwest ofTimmins, Ontario and borders theGenex Project which Melkior has under option from International ExplorersProspectors Inc. It is comprised of 344 claim units covering 60 square kilometers with 100% ownership by Melkior.The Phase 3 drill program consisted of 6,283 meters.
The Phase 3 drill program was designed to follow up on 2021-Q4’s program and was planned with holes targeting the deep
Shenkman Zone and NorthZam Zam Extension. Additional holes were drilled in the Mystery and 1010 Zones.CAR-22-25was drilled in the southern portion of the Shenkman and targeted a higher-grade northwest trending corridor of gold mineralization. Significant assays from this drill hole include 4.42 gpt Au over 0.5 meters and6.75 gpt Au over 1.5 metersfrom 329.2 to 330.7 meters, including 18.30 gpt Au over 0.5 meters. In addition, a strong zone of mineralization between 515 and 525 meters was intersected with sulphide-enriched quartz-carbonate veins. Assays from this zone include8.49 gpt Au over 0.5 meters,8.10 gpt Au over 0.5 metersand8.49 gpt Au over 0.5 meters
CAR-22-28was collared approximately 100 meters south-west of CAR-22-25, Following up on the encouraging results. Significant intersects include4.93 gpt Au over 0.5 meters, 14.5 gpt Au over 0.5 meters, 4.15 gpt Au over 0.5 meters, and 4.49 gpt Au over 1 meter including 7.92 gpt Au over 0.5 meters.
CAR-22-31,collared approximately 100 meters southwest of drill hole CAR-22-28 on the southern portion of the
Shenkman Zone , intersected16.8 gpt Au over 1.5 metersfrom 395 to 396.5 meters, including49.6 gpt Au over 0.5 metersCAR-22-27was drilled approximately 450 meters north of the
Zam Zam Zone and intercepted8.29 gpt Au over 0.5 meterswithin a 30 cm quartz vein hosting elevated pyrrhotite, pyrite and minor chalcopyrite. The new intercept is also 100 meters north and along the projected strike from a similar 30 cm quartz vein seen in CAR-21-19 that assayed 5.85 gpt Au over 1.5 meters. This has significant implications for exploration north of theZam Zam Zone as these intercepts are situated where no significant drilling has been completed to the north and at depth.CAR-22-29was collared to target an elevated IP chargeability response on the 1010
North Zone . This drill hole encountered two significant sulphide veins at 100.2 meters which returned 2.29 gpt Au over 0.7 meters, and at 194.5 meters which returned8.19 gpt Au over 1.5 meters,including19.5 gpt Au over 0.6 meters. Both veins occurredwithin carbonatized granodiorites and are described as significant clusters of coarse subhedral pyrite. Thisis one of the deepest gold intercepts in the 1010 North zone and suggests continuity downdip of gold-bearing structures at depth.
Significant Assay Table:
Hole-ID | From | To | Length | Au |
CAR‐21‐23 | 588.16 | 590.2 | 2.04 | 2.60 |
596 | 596.5 | 0.5 | 3.59 | |
CAR‐22-24 | 633 | 633.5 | 0.5 | 1.59 |
635 | 635.6 | 0.6 | 2.39 | |
CAR‐22-25 | 324.5 | 325 | 0.5 | 4.42 |
329.2 | 330.7 | 1.5 | 6.75 | |
Incl. | 329.7 | 330.2 | 0.5 | 18.3 |
515.5 | 516 | 0.5 | 8.49 | |
522 | 522.5 | 0.5 | 8.1 | |
525 | 525.5 | 0.5 | 8.49 | |
CAR‐22-26 | 191.25 | 191.75 | 0.5 | 2.6 |
209.5 | 210 | 0.5 | 1.69 | |
464 | 464.5 | 0.5 | 8.36 | |
CAR-22-27 | 341.7 | 342.2 | 0.5 | 8.29 |
CAR-22-28 | 251 | 251.5 | 0.5 | 4.93 |
254.5 | 255 | 0.5 | 2.31 | |
272.5 | 273 | 0.5 | 14.5 | |
290.5 | 291 | 0.5 | 4.15 | |
476 | 476.5 | 0.5 | 2.27 | |
501.5 | 502.5 | 1.0 | 4.49 | |
Incl. | 502 | 502.5 | 0.5 | 7.92 |
CAR-22-29 | 100.2 | 100.9 | 0.7 | 2.29 |
194.5 | 196 | 1.5 | 8.19 | |
Incl. | 195.4 | 196 | 0.6 | 19.5 |
CAR-22-31 | 287.5 | 288 | 0.5 | 2.32 |
292 | 292.5 | 0.5 | 9.96 | |
301.2 | 302 | 0.8 | 2.29 | |
307.5 | 309 | 1.5 | 2.07 | |
395 | 396.5 | 1.5 | 16.8 | |
Incl. | 396 | 396.5 | 0.5 | 49.6 |
443.5 | 444.1 | 0.6 | 23.1 | |
0.0 | ||||
CAR-22-32 | 735 | 737 | 2.0 | 1.13 |
739 | 739.5 | 0.5 | 1.17 | |
0.0 |
* Stated lengths are core lengths as drilled. Truewidths are estimated to be 80% of reported core length intervals.
Newly Targeted High-Grade Corridor:
A new interpretation was modelled with
Datamine software to outline the higher grade (25g/t) gold veins to produce a grade shell for drill targeting.Preliminary modelling identified a high-grade corridor trending 40 degrees northeast, with an approximate width of 75 meters and a strike length of 375 meters. The high-grade corridor is located in the
Shenkman Zone and was targeted in holes 25, 28, 31 and 32 using a 310-drill azimuth.This strategy proved successful with encouraging intercepts in drill holes CAR-22-25, CAR-22-28, and CAR-22-31. CAR-22-031 was successful in expanding this corridor to the southwest intercepting49.6 gpt Au over 0.5 meters. Further drilling is needed to refine this model.
Plan View:
Click Image To View Full Size
Hole ID | Easting UTM | Northing UTM | Length (m) | DIP | Azimuth |
CAR‐22‐23 | 5358266 | 452216 | 786 | -54 | 240 |
CAR‐22‐24 | 5358245 | 452286 | 777 | -54 | 240 |
CAR‐22‐25 | 5357737 | 451868 | 600 | -70 | 310 |
CAR‐22‐26 | 5357431 | 451994 | 546 | -55 | 310 |
CAR‐22‐27 | 5359103 | 451533 | 450 | -50 | 240 |
CAR‐22‐28 | 5357692 | 451826 | 702 | -70 | 310 |
CAR‐22‐29 | 5357761 | 450946 | 462.5 | -60 | 120 |
CAR‐22‐30 | 5357577 | 450725 | 402 | -55 | 90 |
CAR‐22‐31 | 5357566 | 451812 | 801.9 | -60 | 310 |
CAR‐22‐32 | 5357767 | 452158 | 756 | -60 | 320 |
The drill program was managed by Agnico Eagle. The drill core was split with half core sent to Actlabs in
Carscallen Next Steps:
Building on the 2022 drill campaign, one of the stronger areas for further investigation is the area between CAR-21-19 and CAR-22-27 for infill drilling. The 300meter gap between CAR2118 and CAR2119 should also be investigated to build upon the values seen in CAR2118. Uppercut and undercut drilling would also be warranted for both drill holes.
Further recommendations would entail exploring the northwest-southeast higher-grade corridor trending at a 310-degree azimuth by expanding drilling to the northwest to test the
Zam Zam Zone and the gap between the Shenkman and theZam Zam Zone . In addition, consideration for expanding on the downdip extension of an intercept of 8.19 gpt Au over 1.5 meters from 194.5 to 196 meters, including 19.5 gpt Au over 0.5 meters in the 1010North Zone , would be recommended with an undercut drill hole.
Qualified Person
All technical information in this press release has been reviewed and approved by
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E-mail: info@melkior.com
Tel: 226-271-5170
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This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Companywithin the meaning of applicable securities laws, including statements with respect to the Company’s future plans of Carscallen. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to obtain all requisite approvals, including approval of the
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