(via TheNewswire)
Highlights:
Results from seven holes drilled in the 4,194-meter drill program at the
Genex Project .GEN-22-12 intersected3.35% Cu, 0.46g/t Au and 9.6 g/t Ag over 6.0 metres, extending the shaft zone to the south.Mineralization encountered in GEN-22-12 is hosted in volcanogenic sulfides, opening a new southward down-dip satellite zone.
GEN-22-07 intercepted 27.3 metres of zinc-rich mineralization, including1.11% Zn over 8.1 metres. This stringer zone mineralization extends the Genex structure to the southwest.
These results, combined with our first batch announced on
March 16 th, (GEN-22-01: 0.96% Cu and 0.22g/t Au over 27.0 metres, including2.29% Cu and 0.32g/t Au over 7.78 metres) demonstrate the expansion potential to the north and south of the historical Genex Deposit.
Program highlights includeGEN-22-12,intersecting3.35% Cu, 0.46g/t Au and 9.6 g/t Ag over 6.0 metres,possibly extending the
Program Details:
These 7 holes total 980 metres, with lengths between 75 and 218 metres, located at the margin of the composite grade shell modelled using Leapfrog software (see news release dated
Genex South and Southwest Extension:
A series of five holes were drilled to cover the possible southward continuity of the Genex system using 50 metres spacing drilled following northwest or southwest azimuths to crosscut a known geophysical conductor. The drill grid covered a target strike length of about 200 metres.
The Company made a new VMS (volcanogenic massive sulfide) lens discovery in hole GEN-22-12 possibly extending the zone to the south. The new mineralization consists of massive chalcopyrite-pyrite lenses hosted by volcanic tuffs from 106 to 117.5 metres. A volcanic contact at 33 metres marks a clear change from sericite to chlorite contact alteration. The copper mineralized interval of 3.35% over 6.1 metres is associated with gold (0.46 g/t), cobalt (0.025%,) with minor silver (9.6 g/t).
GEN-22-07 intersected close to the surface a sphalerite stringer zone hosted in polygenic breccia about 70 metres westward and quasi-along strike with hole GEN-22-12. The best-mineralized interval intercepted 1.1% zinc over 8.1 metres from 50.2 to 58.3 metres with anomalous gold at 0.3 g/t. The alteration system associated is heterogenous with moderate carbonate throughout the section. The best zinc grades with anomalous gold are hosted within a strong sericite overprint.
GEN-22-08 and GEN-22-09 cut the same carbonate altered and locally brecciated andesitic flow apart from having a metric felsic marker intercepted, respectively at 79.65m and 95.8 metres. A metric copper-silver grade of 0.84% Cu and 12.8 g/t Ag was obtained from hole GEN-22-08 in this environment.
Surface Footprint
Holes GEN-22-10, and GEN-22-13 were drilled about 30 metres east of the shaft area to test the near surface up-dip extension of the Genex structure. The strong brecciation, sericite alteration and pyritization observed in the first 30 metres from surface returned 0.5% and 0.86% copper over 2.5 metres from hole GEN-22-13.
A summary of drill results is reported in Table 1:
Hole ID | From (m) | To (m) | Length (m) | Cu (%) | Gold (g/t) | Ag (g/t) | Zn (%) | Co (%) |
GEN-22-07 | 14.2 | 24 | 9.8 | - | - | - | 0.84 | - |
40.8 | 58.3 | 17.5 | - | - | - | 0.625 | - | |
Including | 50.2 | 58.3 | 8.1 | - | 0.3 | - | 1.11 | - |
99 | 100 | 1 | - | 0.52 | - | - | - | |
GEN-22-08 | 22.65 | 35.15 | 12.5 | - | - | - | 0.7 | - |
60.5 | 62 | 1.5 | - | - | 12.8 | - | - | |
GEN-22-09 | 84.1 | 86.1 | 2 | 0.83 | 12.2 | |||
GEN-22-10 | 22 | 26.3 | 4.3 | - | 0.3 | - | - | - |
Including | 25 | 26.6 | 1.6 | - | - | - | 0.59 | - |
Including | 47 | 51.1 | 4.1 | - | - | - | 0.43 | - |
GEN-22-11 | No significant assays | |||||||
GEN-22-12 | 106 | 112 | 6 | 3.35 | 0.46 | 9.6 | - | 0.025 |
116 | 117.5 | 1.5 | 0.4 | - | - | 1.23 | - | |
GEN-22-13 | 29 | 31.5 | 2.5 | 0.51 | 0.86 | |||
Note 1: Stated lengths are core lengths as drilled. True width for holes are unknown at this stage of work.
Note 2: Compared to previous releases, the reporting of individual metal grades is utilized to better represent local high-grade portions of the mineralization and to better model the geometry for follow-up drilling.
Drill Hole Coordinates
DDH_No | UTMnad83_East | UTMnad83_North | Azimuth | Dip | Length |
GEN-22-07 | 458773 | 5370091 | 330 | -74 | 105 |
GEN-22-08 | 458773 | 5370091 | 150 | -85 | 103 |
GEN-22-09 | 458648 | 5370058 | 60 | -75 | 200 |
GEN-22-10 | 458815 | 5370155 | 60 | -65 | 150 |
GEN-22-11 | 458848 | 5370061 | 330 | -60 | 218 |
GEN-22-12 | 458813 | 5370122 | 150 | -66 | 129 |
GEN-22-13 | 458813 | 5370122 | 60 | -66 | 75 |
The field program was run by SL Exploration, and the drill core was split with half sent to AGAT in
Qualified Person
All technical information in this press release has been reviewed and approved by
About
ON BEHALF OF THE BOARD
For more information, please contact:
E-mail:info@melkior.com
Tel:226-271-5170
The reader is invited to visit Melkior's web sitewww.melkior.com.
Neither
Cautionary Note Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release, and include statements with respect to the anticipated timing of the Agreement and payments thereunder and statements with respect to the non-43-101 compliant resource estimates on the property to be acquired by the Company. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the
Copyright (c) 2023 TheNewswire - All rights reserved.
Copyright (c) 2023 TheNewswire - All rights reserved., source