Initial Drill Results Confirm Gold Mineralization Continuity at Carscallen Gold Project
News related to:Melkior Resources Inc · 2 min read
Melkior Resources Inc. has announced initial assay results from its 2026 winter diamond drill program at the Carscallen Gold Project, located approximately 25 kilometers west of Timmins, Ontario. The program, which involved 10 diamond drill holes totaling 3,136 meters, aimed to test the vertical and lateral extensions of known mineralized zones and evaluate additional targets across the property.
The assays from the first two holes, MKR-26-001 and MKR-26-002, confirm the down-plunge continuity of gold mineralization within the 1010 South structural corridor and extend the mineralized system to approximately 280 meters vertical depth. Specifically, hole MKR-26-001 returned 2.91 grams per tonne (g/t) gold over 2.89 meters, including 9.17 g/t gold over 0.90 meters. Hole MKR-26-002 yielded 2.52 g/t gold over 2.60 meters, with a higher-grade interval of 6.33 g/t gold over 0.93 meters.
These results support the interpreted down-plunge extension of known high-grade mineralization, particularly in relation to a high-grade shoot intersected in hole MKR-24-002, which returned 77.4 g/t gold over 6.9 meters, including 445 g/t gold over 1.2 meters, approximately 180 meters below the nearest historical drilling.
The company has also commenced a fully funded surface exploration program, including geological and structural mapping, prospecting, and systematic rock sampling. To date, 178 rock samples have been collected and submitted for analysis. Partial assay results totalling 100 of 178 samples were received and will be integrated with current drilling data to support future exploration planning.
With assays pending from eight additional drill holes and ongoing surface exploration, the company continues to advance its understanding of the broader Carscallen mineralized system and its exploration potential. The company is committed to creating shareholder value through disciplined, technically driven exploration and the systematic evaluation of high-potential mineral assets.
The assay results were analyzed by AGAT Laboratories Ltd., an independent ISO/IEC 17025 accredited laboratory, using a 50-gram fire assay with atomic absorption finish. Samples returning elevated values were reanalyzed using gravimetric methods, where appropriate. The Company's quality assurance and quality control program includes the insertion of certified reference materials, blanks, and field duplicates at regular intervals within the sample stream. Review of QA/QC data indicates acceptable accuracy and precision of analytical results reported herein.
The Carscallen Gold Project is part of Melkior Resources Inc.'s core portfolio, anchored by the Carscallen Gold Project, located in the heart of the Timmins Gold Camp, one of Canada's most productive gold districts. The Company also holds the Beschefer East, Genex, and Val-d'Or projects, all strategically positioned within the highly prospective Abitibi Greenstone Belt, a world-renowned mining region that hosts numerous significant gold and base metal deposits.
Leveraging a combination of modern exploration techniques, geological expertise, and a strong treasury, Melkior continues to advance its projects with the objective of making new discoveries and unlocking value across its portfolio.