Melkior Resources drilling Beschefer East Project, Quebec
Melkior Resources Inc. [TSXV: MKR; OTC: MKRIF] has begun its winter drill campaign at the Beschefer East Project located in the Northern Abitibi greenstone belt in Quebec approximately 4.5 km northeast of B-14, and 13km on trend northeast of B26 and 17km east of the Selbaie Mine.
On June 14, 2023, the company entered into an option agreement on the Beschefer East Project to earn 100% over three years from SOQUEM Inc.
Highlights: A six-hole winter drill program with a total of 1,050 drill metres is under way at the Beschefer East Project. This drill program will test new targets identified from a biogeochemical gold-copper anomalous region that was identified using the black spruce tree bark sampling method. This target was selected for testing, considering the strong overlap between metal signatures and ground Induced Polarization (IP) grid. The target area spans 800 metres in a region previously untested by drilling.
The target area spans 800 metres in a region previously untested by drilling. Individual drill holes ranges in depth from 150 to 200 metres.
The primary objective of t his drill program is to test the new targets identified from the biogeochemical gold-copper anomalous region. It was previously identified using the black spruce tree bark sampling method.
This target was selected for testing, considering the strong overlap between metal signatures and the ground Induced Polarization (IP) grid. A line cutting and data acquisition survey was recently completed, east of the target area. The company has received the preliminary data. The three 1.5 km IP lines completed will give insight into the possibility to expand the target zone.
MMI, Bark & High-Resolution Magnetic Programs: In preparation for the drill program the company completed an MMI, tree bark sampling and a high-resolution magnetic program with the following highlights: Five new gold-copper targets were identified using the black spruce tree bark sampling method.
Three copper-lead-zinc targets were identified using the mobile metal ion sampling method. There has been limited historical drilling on the new targets identified, as the majority of historical drilling has been focused on the basalt and tuff geological units while the anomalies presented are located primarily in felsic rocks.
The company executed a quality high-resolution airborne magnetic survey which confirmed trends over these strategic targets.
A total of 518 MMI samples were collected over two unique grids at Beschefer East, while 1,780 black spruce tree bark samples were collected using 100m X 100m spacing across the entire sampling grid.
The helicopter-borne survey was carried out by Prospectair, based out of Gatineau, Québec and totaled 968 line-km. The magnetometer used for the survey consisted of a non oriented (strap-down) optically-pumped Cesium split-beam sensor (Geometrics G-822A).
An area of 34 km2 was covered by using a line spacing of 50 metres and N150 Azimut to optimize the clarity and detail of subtle structures. In addition, the company completed two infill blocks covered with lines every 50 metres, but offset by 25 metres to the main blocks.
Genex Update: On January 1, 2025, the company and International Explorers & Prospectors Inc. appointed an arbitral tribunal to determine the parties’ rights and obligations under their option agreement dated April 19, 2022, in respect of the Genex Project. The parties are working toward setting a hearing date, which is expected to be scheduled June 2025 or later this year.
Stock Options: Subject to regulatory approval, the company approved the granting of 1,200,000 incentive stock options to directors and an officer of the company. The options are exercisable at an exercise price of $0.08 per share for a period of up to five years.
Melkior’s flagship projects include the Carscallen Project, the Beschefer East Project, the Genex Project and the Val-d’Or Project. These projects are strategically located in the Abitibi Greenstone Belt, known for hosting significant gold and base metal deposits.
SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec.