2013-02-27 14:03:25 -
Ottawa, Ontario CANADA, February 27, 2013 /FSC/ - Melkior Resources Inc. (MKR - TSX Venture), held its Annual General Meeting in Ottawa on February 21, 2013. Of the 119.5 million outstanding shares a total of 39.62% were voted. Four directors were re-elected; Jens Hansen, President and CEO, Norman Farrell Chairman and Founder of the Company, Lee Barker and Dan Wolfus. The votes in favour of management exceeded 99%
A corporate overview and plan was presented by Jens Hansen.
The West Timmins Carscallen gold property remains Melkior's key asset. Approximately 33,000 metres have been drilled and seven gold zones discovered within an area of approximately 4 square kilometres. The zones all outcrop and two, the ZamZam and Shenkman zones have been
drilled to a depth of approximately 400 metres. Grab samples taken on surface assay up to over 800 g/t gold and widths increase at depth with drill hole intersections of up to 5.10 g/t gold over 13.25 metres. Approximately 95% of the holes drilled encountered gold greater than 0.5 g/t in multiple zones and with varying widths. Data interpretation suggests the zones may converge at depth. Current plans include determining near surface resource potential and to define targets for a continuation of deep drilling.
The Kenty Lake (49%) nickel, copper, platinum group element property and the Launay gold property have been owned by Melkior since 1986. At Launay a gold horizon has been traced for at least 3 kilometres.
Recent shallow drilling was carried out to determine the near surface potential. Plans include compiling all data to determine the next steps.
The Kenty Lake property in Ungava is an important nickel, copper, PGE asset. A high grade nickel resource was calculated in the 1990's. This resource is open at depth. A new zone grading 99.77m 0.64% nickel and 0.26% copper was discovered in 2004. There are two nickel operations within 100 kilometres of the property. The plan is to discuss moving forward with third party partners.
Melkior holds a key land position in the Mc Faulds "Ring of Fire" nickel-chromite belt and in the Beardmore Long Lac gold camp. Both properties have long term value. Federal Minister Clement recently emphasized the national importance of the Ring of Fire, "This will be a project of national significance for decades".
Melkior is in a favourable financial and technical position to advance current projects and to examine new opportunities that may become available in the current exploration environment.
For complete data on Melkior's properties please refer to the Company website: www.melkior.com
This news release has been prepared by Jens Hansen P. Eng President of Melkior Resources Inc.
For more information:
Melkior Resources Inc.
3208 Richmond Road
Ottawa Ontario K2H 5B6
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.
This press release is available in PDF. Please click on the following link to view the PDF file:
Source: Ressources Melkior Inc. (TSXV MKR) www.melkior.com
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