Allana Potash Confirms Shallow Potash Mineralization and Releases Drill Results
TORONTO, ONTARIO--(Marketwire - June 15, 2010) - Allana Potash Corp. (TSX VENTURE:AAA) ("Allana" or the "Company") is pleased to announce confirmation of shallow potash mineralization on its Ethiopian Potash Project. Analytical results have been received and evaluated for holes DK-10-01 and DK-10-02. The highlight of these results is hole DK-10-02 which intersected 25.8 % KCl over 5.50 metres including 34.8 % KCl over 2 metres. These two holes, along with hole DK-10-03, are situated in the northwestern portion of Allana's claim block and were targeted to confirm historic drill results and test the extension of the Musley Deposit to the northeast.
Hole DK-10-02 was drilled vertically and is collared east of Parsons holes 226 and 270. Hole DK-10-02 intersected strong potash mineralization yielding 25.8% KCl over 5.5 metres (drilled width) from 150.10 metres to 155.65 metres, including 34.8% KCl over 2 metres (drilled width) from 150.10 metres to 152.10 metres. This zone is interpreted to be the upper portion of the Houston Formation and additional X-Ray Diffraction (XRD) work is ongoing to determine the potash mineralogy. The confirmation of strong potash mineralization in this hole extends the Musley Deposit approximately 750 metres to the northeast and the deposit remains open to expansion in that direction. Other potash intervals returned lower values, typically less than 5% KCl.
Drill hole DK-10-01 was drilled vertically and is located between Parsons holes 236, 226, 159, and 232. Historic drilling in this northern extension of the Musley Deposit shows isolated zones of low grade potash mineralization surrounded by higher grade potash zones. The potash zone intersected in DK-10-01 returned low potash values, KCl values are less than 5% and it is interpreted that this hole also intersected a similar isolated zone of weak potash mineralization. Sand and silt intersected immediately below the potash zone suggests a localized influx of sediment into this part of the basin which may have eroded, or inhibited, potash mineralization.
Hole DK-10-03 has been logged, sampled and samples are in transit to the Saskatchewan Research Council Laboratory in Saskatoon. Drilling is continuing at hole DK-10-04 in the centre part of the basin south of the Crescent Carnallite Deposit. Additional sampling has been completed on other prospective horizons in hole DK-10-01 and these samples are also en route to Saskatoon. As mentioned above, mineral species identification is also in progress for holes 1 and 2 as selected samples have been chosen for XRD analysis to determine the mineralogy of the complex potash and evaporite minerals.
Farhad Abasov, President and CEO, commented: "We are very pleased with the confirmation of the shallow potash mineralization in this part of our property. Both holes confirm past drilling results done by Parsons in the 1950s and 1960s. It is encouraging to see very good potash grades in DK-10-02. With continuing drilling and planned seismic programs the management expects to determine targets for the Phase II 10,000-meter drilling campaign in the southern part of our potash project."
About Allana Potash Corp.
Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally with its major focus on a previously explored potash property in Ethiopia with NI 43-101-compliant Inferred Mineral Resource of over 100 million tonnes of potash mineralization (Sylvite and Kainite) with a composite grade of 20.8 % KCl (see News Release Sept. 17, 2008). Allana has approximately 116.5 million shares outstanding and trades on the TSX-Venture exchange under the symbol "AAA".
Quality Control and Quality Assurance
Allana employees follow standard operating and quality assurance procedures intended to ensure that all sampling techniques and sample results meet international reporting standards. Procedures for handling core samples begin with securing the potash-bearing HQ-NQ-sized core at the drill site in plastic poly-tubing which is then thermally sealed. Core is placed in plastic core boxes and transported to Allana's camp for geological logging, geotechnical logging and photographing. Significant intervals are dry cut in half using a specially modified tungsten carbide bladed band-saw. Half core samples are then double bagged and thermally sealed prior to transporting to Addis Ababa by Allana personnel. In this initial phase, halite blanks are randomly inserted into the sample stream at a rate of 1 in 20 and sent for analysis with the core samples. The remaining core is re-sealed in plastic poly-tubing and the core boxes secured at Allana's exploration camp. Upon arrival in Addis Ababa core samples are stored at Allana's small warehouse facility and then taken to the Ethiopian Ministry of Mines & Energy where permission is obtained to export the samples. The bagged samples are then carefully packed into boxes and shipped via DHL to the Saskatchewan Research Council in Saskatoon. This sampling procedure was initiated by ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH, Allana's potash consulting firm, supervised by Allana's Ethiopian based Project Manager Jason Wilkinson, M.Sc., and periodically reviewed by Allana's Senior Vice President of Exploration, Peter J. MacLean, Ph.D., P. Geo.
Allana is utilizing SRC's Potash ICP Analysis package designed for multi-element analysis of potash samples. Upon arrival at SRC Geoanalytical Laboratories core samples are jaw crushed to 60 % @ -2mm and 100 g sub sample is split out using a riffler and transferred to vials. The subsample is pulverized to 90 % @ -106 microns using a puck and ring grinding mill to create a pulp. The grinding mills are cleaned between groups using Quintus quartz. The pulp is then transferred to a labelled plastic snap top vial. An aliquot of pulp is placed in a test-tube with 15 ml of 30 degrees C DI water. The sample is shaken. The soluble solution is then analyzed by ICP-OES. The method is suitable for the soluble analysis of commercial potash (Sylvite). The soluble solution is then analysed by ICP-MS. In addition samples are analysed for FeO (wt%), Br and Cl by MS, plus insoluables. SRC Geoanalytical Laboratories has been certified by the Standards Council of Canada (SCC) to conform to the requirements of ISO/IEC 17025:2005 (CAN-P-4E).
Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is a Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information presented in this release.
Forward-Looking Statement
Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the effect and estimated timeline of the drilling and assay results on the Company; the estimation of mineral reserves and mineral resources; the timing and amount of estimated future exploration; costs of exploration; capital expenditures; success of exploration activities; permitting time lines and permitting; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; and title disputes or claims. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Allana Potash Corp.
Farhad Abasov
President and CEO
+1-416-309-2691
fabasov@allanapotash.com
NEITHER THE 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
Merc Releases Further Gold Intersections at BIF Island Zone
TORONTO, ONTARIO--(Marketwire - June 15, 2010) - Merc International Minerals Inc. ("Merc") (TSX VENTURE:MRK) is pleased to report results today for fourteen new drill holes from its 2010 Winter Drill Program on its Damoti Lake Gold Project in the Northwest Territories. Drill results include the final eleven holes at the BIF Island Zone, and three holes at the Granite Showing located between the BIF Island and Horseshoe Zones.
Sectional drilling at the BIF Island Zone has confirmed a strong core of gold mineralization that conforms to the general plunge of the fold structure. The limits and expansion opportunities of this mineralized zone will be further evaluated in the coming months. The eleven BIF Island holes represent the remaining holes drilled at this location over the current program, and include the following highlights: 4.89 grams per tonne gold over 7.55 meters, including 15.10 grams per tonne gold over 1.50 meters in hole D10-402, and 12.97 grams per tonne gold over 1.50 meters, including 26.30 grams per tonne gold over 0.50 meters in D10-403B. Several reconnaissance holes, aided by geophysical data, were laid out away from known mineralization in order to explore for extensions along strike and down plunge. Drilling of these sections was successful in helping to validate a new geological model for gold mineralization, one that will evolve as Merc continues to explore Damoti's fertile stratigraphy.
"We are extremely pleased with our drilling results to date. Since initiating our first program in July 2009, Merc has repeatedly intersected both high-grade gold mineralization and broader zones of significant values, all within the near-surface environment. Exciting opportunities exist for additional discoveries at depth, along strike, and in similar structures lateral to those hosting known mineralization. All remain to be tested. If successful, these ongoing initiatives will add significant value to the entire Damoti Lake Gold Project," said Dr. Michael Byron, President and CEO of Merc.
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Core Length(i)
Drill Hole From (m) To (m) (m) Au (gpt)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
D10-399 38.00 38.50 0.50 3.72
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141.00 154.35 13.35 0.92
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141.00 142.00 1.00 3.94
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including 141.00 141.50 0.50 6.27
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D10-399B 156.00 179.00 23.00 1.35
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including 156.00 156.50 0.50 5.69
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including 163.50 164.00 0.50 3.29
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including 172.00 179.00 7.00 2.83
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including 172.00 173.00 1.00 5.47
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including 175.50 179.00 3.50 3.41
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including 178.00 179.00 1.00 6.46
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including 178.00 178.50 0.50 9.78
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D10-400 193.00 199.50 6.50 1.14
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198.00 199.00 1.00 2.53
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including 198.50 199.00 0.50 4.06
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D10-400B 197.00 197.50 0.50 2.00
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D10-401 40.00 41.00 1.00 1.84
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D10-402 53.95 61.50 7.55 4.89
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including 54.50 55.10 0.60 7.38
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including 57.50 59.00 1.50 15.10
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including 60.90 61.50 0.60 5.67
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63.75 64.65 0.90 2.22
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D10-402B test magnetic anomaly - no iron formation
intersected
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D10-403 43.00 43.50 0.50 2.26
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78.00 78.50 0.50 12.50
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86.50 87.50 1.00 2.14
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119.25 119.75 0.50 2.89
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D10-403B 24.25 25.75 1.50 2.13
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64.00 81.50 17.50 1.45
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including 79.50 81.00 1.50 12.97
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including 80.50 81.00 0.5 26.30
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113.50 115.00 1.50 3.98
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including 113.50 114.00 0.50 7.36
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125.75 126.50 0.75 6.97
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D10-404 104.00 105.50 1.50 8.08
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including 104.50 105.00 0.50 15.15
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D10-424 BIF Island Extension - iron formation intersected,
no values greater than 0.5 g/t Au
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(i) Lengths are reported as core lengths. True widths are not known at this
time.
The BIF Island Zone, an area of folded iron formation similar to the Horseshoe Zone, is located 3.5 kilometers northeast along strike from the Horseshoe Zone. Drilling at BIF commenced on March 19, 2010 (March 24, 2010 news release) as part of a 10,000 meter program to extend known mineralization at BIF, as well as within the Horseshoe North and Red Mountain Zones, and to test other targets identified by the recently completed ground geophysical surveys (March 4, 2010 news release). Initial drill results were reported in a May 08, 2010 news release in which holes intersected broad zones of gold mineralization containing high-grade cores. For additional information on drill hole locations and Merc's drill program please visit Merc's website www.mercinternational.ca.
Three holes were drilled at the Granite showing to test mineralized areas of iron formation 1,500 metres northeast of the Horseshoe Zone. Although the holes were drilled below several surface showings with associated favorable geophysical responses, they failed to return significant mineralization.
Quality Control
Merc International Minerals Inc. has implemented a quality-control program to ensure best practice in the sampling and analysis of the drill core. NQ-size drill core is saw cut and half the drill core is sampled in standard intervals not exceeding 1.5 metres in length while core from the main mineralized horizons or core displaying visible gold or significant sulfides are sampled in greater detail generally not exceeding 1 metre in length. The remaining half core is stored in a secure location.
Core samples are transported in security-sealed bags for analyses at ALS Chemex Assay Laboratory, Vancouver, BC. ALS Chemex is an ISO 9001:2000 certified laboratory. Gold assaying is done by a fire assay - atomic absorption spectrometry method on a 30-gram charge of a 1,000 gram pulp. Samples returning values exceeding 3 gpt Au are re-checked by fire assay with a gravimetric finish. Pulp and metallics assaying for gold is conducted on the entire pulverized sample for all samples within the main mineralized horizons and those samples with visible gold or significant sulfides.
As part of its QA/QC program, Merc International Minerals Inc. inserts external gold standards (low to high grade) and blanks every 20 samples. This is in addition to the standards, blanks and pulp duplicates inserted by ALS Chemex. In addition, samples of pulps have been collected from ten percent of all samples analyzed and will be submitted to a second independent laboratory for comparison purposes.
The Damoti Lake Gold Project is being supervised by William Waychison, M.Sc.A., P.Geo., the Qualified Person (QP) for this project.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. Merc disclaims any intention or obligation to revise or update such statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Merc International Minerals Inc.
Dr. Michael Byron
705-560-2382
705-560-0765 (FAX)
info@mercinternational.ca
www.mercinternational.ca
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.
Melkior Continues to Intersect High-Grade Gold Mineralization in Timmins; Identifies Porphyry Style Mineralization
OTTAWA, ONTARIO--(Marketwire - June 15, 2010) - Melkior Resources Inc. ("Melkior") (TSX VENTURE:MKR)
-- 16.04 g/t Gold over 1.25 metres from Zam Zam Zone
-- 26.10 g/t Gold over 0.95 metres and 10.90 g/t over 0.50 metres from
Shenkman Zone
-- Broad intercepts of porphyry hosted mineralization include 0.60 g/t gold
over 22.60 metres
Melkior Resources Inc. ("Melkior") (TSX VENTURE:MKR) is pleased to announce results for the most recently completed three holes on its 100% owned Carscallen Gold Project located in West Timmins, Ontario, Canada. The results include high-grade gold intercepts from both the Zam Zam and the Shenkman Zones, further demonstrating the continuity of both zones. Melkior has also begun to identify broad zones of anomalous gold mineralization hosted by porphyry intrusions on the Carscallen Project. An additional 8 holes, totalling 2,540 metres are currently being logged and assayed.
Drill Results:
ZAM ZAM ZONE - CAR-42-2010: The hole was part of a series of parallel deep holes to test the Zam Zam zone at depth. The quartz-pyrite vein system, typical of the Zam Zam Zone, was intersected at 563.15 metres to 563.65 metres and returned 16.04 g/t gold over 1.25 metres (Table 1) confirming the continuity of the zone to depth.
Table 1: Significant Results from hole CAR-42-2010.
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Core
From To length Gold
Hole # (metres) (metres) (metres) (g/t) Host Rock
-----------------------------------------------------------------------
CAR-42-2010 Vesicular mafic
531.65 536.00 4.35 1.24 volcanic
-----------------------------------------------------------------------
Including 535.30 536.00 0.70 5.95 Pyrite stringers
-----------------------------------------------------------------------
CAR-42-2010 Mafic volcanic
562.40 563.65 1.25 16.04 rock
-----------------------------------------------------------------------
Including 5cm thick quartz-
pyrite vein, 10%
563.15 563.65 0.50 39.8 pyrite
-----------------------------------------------------------------------
CAR-42-2010 Semi massive
682.20 682.90 0.70 1.17 pyrite vein
-----------------------------------------------------------------------
Shenkman Zone - CAR-46-2010: Surface prospecting and structural measurements on the Shenkman Zone indicate the Zone is potentially controlled by a north-west to south-east oriented fold structure. The mineralized vein system is oriented at 040 degrees, dipping vertical. CAR-46-2010 was drilled at an azimuth of 310 degrees and a dip of -50 degrees, with a final core length of 254 metres. The hole intersected the high-grade Shenkman Zone at a down-depth of 98.85 metres returning an intercept of 26.10 g/t gold over 0.95 metres. In addition drilling has identified a mineralized quartz-feldspar porphyry unit (QFP) which returned 0.40 g/t gold over 5.55 metres at a depth of less than 20 metres. The presence of anomalous gold mineralization over broad widths is a significant development for the future potential of the project.
Table 2: Significant results from hole CAR-46-2010.
--------------------------------------------------------------------------
Core
From To length Gold
Hole # (metres) (metres) (metres) (g/t) Host Rock
--------------------------------------------------------------------------
CAR-46-2010 QFP + pyrite
23.25 28.80 5.55 0.40 stringers
--------------------------------------------------------------------------
Including 23.25 24.05 0.80 1.04
--------------------------------------------------------------------------
CAR-46-2010 Granite (pyrite
63.65 64.15 0.50 1.48 stringers)
--------------------------------------------------------------------------
CAR-46-2010 Granite (thick
quartz-pyrite
98.85 99.80 0.95 26.1 veins)
--------------------------------------------------------------------------
CAR-46-2010 Granite (pyrite
111.00 111.50 0.50 1.21 stringers)
--------------------------------------------------------------------------
CAR-48-2010: CAR-48-2010 was drilled at an azimuth of 310 degrees and a dip of -50 degrees, with a final core length of 320 metres. The hole is located approximately 150 metres east-south-east of CAR-46-2010 and was designed to test the intersection between the Shenkman QFP a recently identified east-west shear zone. The nearby Timmins Mine is located near the intersection of a prominent fold structure and an east-west trending shear system - the Bristol Fault. The hole intersected several QFP dykes; two of them contain pyrite stringers with low gold values (0.24g/t over 27.10 metres and 0.60g/t over 22.65 metres). Gold is also hosted in thin quartz pyrite veins. Table 3 summarizes the results. A narrow pyrite-rich vein in the lower dyke returned a high-grade intercept of 10.90 g/t gold over 0.50 metres.
Table 3: Significant Results from hole CAR-48-2010
--------------------------------------------------------------------------
Core
From To length Gold
Hole # (metres) (metres) (metres) (g/t) Host Rock
--------------------------------------------------------------------------
CAR-48-2010 65.50 66.50 1.00 0.94 QFP
--------------------------------------------------------------------------
CAR-48-2010 Pyrite-
122.30 122.80 0.50 1.14 carbonate vein
--------------------------------------------------------------------------
CAR-48-2010 Quartz-pyrite
138.50 139.00 0.50 1.88 vein
--------------------------------------------------------------------------
CAR-48-2010 Quartz-pyrite-
161.50 162.00 0.50 1.91 chlorite vein
--------------------------------------------------------------------------
CAR-48-2010 199.40 226.50 27.10 0.24 QFP
--------------------------------------------------------------------------
Including 224.00 225.30 1.30 1.01
--------------------------------------------------------------------------
CAR-48-2010 QFP + pyrite
stringers and
264.50 287.15 22.65 0.60 veins
--------------------------------------------------------------------------
Including 273.65 276.15 2.50 1.51
--------------------------------------------------------------------------
Including Quartz-pyrite
285.00 285.50 0.50 10.9 vein
--------------------------------------------------------------------------
Significance and moving forward:
Recent drilling has focussed on proving the depth continuity of the Zam Zam and Shenkman Zones on the Carscallen Gold Project and on better understanding the geological controls on these two high-grade gold systems. The recent identification of mineralized quartz-feldspar porphyry intrusions located proximal to a zone of folding and a strong east-west faulting is significant in a regional context as the majority of significant gold deposits in the Timmins camp are located within or proximal to porphyritic intrusions along east-west trending structural corridors. These east-west trending systems typically act as conduits for the gold-bearing fluids with the margins and interiors of the porphyry bodies acting as traps. Additional drilling with continue to test both the East-West fault system and the nearby porphyry bodies.
Since the 20,000 metre program commenced on July 2009 (Press Release July 8th, 2009), a total of 44 holes comprising 11347.50 metres have been drilled and reported to date. 83 % of the holes have hit gold mineralization greater than 1g/t gold from near surface to depths of 500 vertical metres. The presence of gold has been encountered in the granite as well as the mafic volcanic and its contact with grades ranging from 0.60 g/t over 22.65 metres (CAR-48-2010) to 107.5 g/t over 0.55 metres (CAR-45-2010, Press Release May 20th, 2010). Drilling is now reaching a systematic 500 metre vertical depth.
Melkior is extremely encouraged by the ongoing successes and will continue to drill and concurrently will update its 3-D geological model. The knowledge gained to date will help direct progressively deeper drilling once the modelling of all current data has been completed. Structures observed at Zam Zam and now at Shenkman are an encouraging indicator for greater widths and greater accumulation of gold within the 1.2 kilometre long Zam Zam Shenkman structure. It should be noted that the north and south strike extends remain open beyond the 1.2 km explored to date. The depth extent below 500 metres remains to be explored.
Surface prospecting is currently being undertaken to explore outside the main area of current and ongoing focus.
Quality Assurance / Quality Control
Core processing included descriptive logging and systematic sampling for analysis. The drill core was sawed in half, with one half delivered to a commercial laboratory and the other half retained for future reference, gold assays were performed at ALS CHEMEX Laboratories in Val d'Or, Quebec. The processed samples were submitted to a standard Fire Assay with AA technique (Au-AA-23) and Inductively Coupled Plasma Emission Spectroscopy (ME-ICP-41) on a 30 gram sub-sample. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol.
This Press Release was prepared by Jens E. Hansen, P.Eng, President of Melkior Resources Inc, Qualified Persons under National Instrument 43-101.
About Melkior:
Melkior is a junior exploration company with active exploration projects in West Timmins and the Mc Faulds "Ring of Fire" areas of Ontario. Melkior also holds a 49% interest in the Delta Kenty nickel-copper-platinum-palladium deposit in Ungava and has several other gold properties in Ontario and Quebec.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Melkior Resources Inc.
Jens E. Hansen, P. Eng.
President
613-721-2919
613-680-1091 (FAX)
melkior@rogers.com
www.melkior.com
Temex significantly increases the gold resource estimate - Juby Main Zone, Shining Tree Area, Ontario
Canada NewsWire
TSX-V:TME; FWB:TQ1
TORONTO, June 15 /CNW/ - Temex Resources Corp. (TSX-V: TME, FWB: TQ1) ("Temex" or "the Company") announces the completion of an updated National Instrument 43-101 ("NI 43-101") resource estimate on the Juby Main Zone, located on the 100%-owned Juby Lease Property, Shining Tree area. The updated mineral estimate significantly increases Temex's gold resources for the project. The Juby Lease Property consists of one mining lease containing the Juby Main Zone. The Main Zone occurs over a strike length of 2.4 kilometres, and hosts a current metal inventory of 614,000 ounces gold in the Indicated category and 602,000 ounces of gold in the Inferred resource category.
Highlights:
<<
- Metal Inventory in the Indicated category is 614,000 ounces gold
grading 1.36 g/t at 0.50 g/t cut-off;
- Metal Inventory in the Inferred category is 602,000 ounces gold
grading 1.14 g/t at 0.50 g/t cut-off;
- 220% increase in Inferred resources from 186,000 ounces to 414,000
ounces gold grading 1.91 g/t gold at 1.0 g/t cut-off grade;
- Deposit remains wide open at depth and along strike.
>>
Maudore: an Exceptional 239.0 g/t Gold Intercept Over 1.5 Meters From the Midway Area
Filing Services Canada Inc.
FSC / Press Release
Maudore: an Exceptional 239.0 g/t Gold Intercept Over 1.5 Meters From the Midway Area
Montreal, Quebec CANADA, June 15, 2010 /FSC/ - Maudore Minerals Ltd. (MAO - TSX Venture, MAOMF - OTCBB, M6L - FWB), reports more high grade gold drilling results including the best intercept reported in the last four years of drilling: 239.0 g/t Au over 1.5 meters (estimated true width of 1.1 m) at a depth of less than 200 metres. Four rigs continue drilling the project, focusing primarily on expanding the area between the property's two known mineralized zones. Maudore's Comtois Project is situated near Lebel-sur-Quevillon, north of Val-d'Or, Quebec, Canada.
"While we've reported numerous very high grade gold intercepts before, including six holes above 150 g/t," said CEO Ron Shorr, "this 239 gram per tonne intercept is the best of any reported since drilling began in 2006. It is located in the Midway Area, between the Bell and Osborne mineralized zones. The location supports our theory of a mineralized trend linking Osborne and Bell (Osbell) with excellent potential for high grade gold mineralization. All the holes in this report will not be included in the revised N.I. 43-101 resource calculation anticipated in the next several weeks, and therefore will not be reflected in the revised resource estimate."
New Drilling Highlights
Midway Area
The newly opened Midway Area, located between the Bell and Osborne resource areas, provided high grade gold intervals. Five of the new holes are located in the Midway Area (refer to Table and illustration on composite longitudinal section and plan view). It is noteworthy that, as in previous drill hole releases, several holes reported multiple intercepts, indicating that the mineralization system is possibly growing both at depth and laterally.
The new results include numerous high grade intercepts. Results from Section 1750mE are especially notable, with 3 holes intercepting over 14 g/t Au:
COM-10-348 - an exceptionally high grade interval of 239 g/t Au over 1.5m along with 17.0 g/t Au over 1.5m, 250 meters further down the hole.
COM-10-350 - 48.4 g/t Au over 1.5m within 11.0 g/t over 7.4m.
COM-10-336 - 14.9 g/t Au over 0.6m.
West Osborne Area
Drill intersections on the margins of the Osborne area indicate that it remains open to extend to the east (toward the Midway) and west. Six holes on the western fringe of the Osborne Area returned high grades including: COM-10-331 - 19.8 g/t Au over 1.3m; COM-10-344 - 16.8 g/t Au over 0.6m; COM-10-349 - 7.8 g/t Au over 1.5m as well as 7.4 g/t Au over 1.0m and COM-10-333A - 7.4 g/t Au over 1.3m.
Osborne Area at Depth
An intercept of 15.0 g/t Au over 0.9m (COM-10-329A) at 640 meters in the main zone of the resource confirms the depth potential of the Osborne area, the location of the bulk of our present resource. Previous deep drilling of this area in 2007 returned 77.3 g/t Au over 0.5m within 6.8 g/t over 6.5m.
43-101 Resource Estimate Update
The revised resource estimate currently being finalized will incorporate drill results up to February 15. Thus none of the drill holes reported in this release and only some of those in the prior release (March 24, 2010) will be included in that calculation. Although we believe we may be on track for a June deadline for revised resource numbers, but delays are still possible. Current drilling directed at exploration of the Midway and surrounding zones provides strong indications of a substantial potential future resource.
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