Melkior Surveys for Copper-Molybdenum in the Otish
OTTAWA, ONTARIO, Aug 26, 2008 (MARKET WIRE via COMTEX News Network) --
Melkior Resources Inc., ("Melkior") (TSX VENTURE: MKR), has completed an airborne helicopter magnetometer-spectrometer survey totalling 2464 line kilometres over its 100% owned Otish copper-molybdenum properties. The properties, totalling approximately 330 claims or 16,000 hectares, are located 270 kilometres north of Chibougamau, Quebec. They are approximately 40 kilometres west of the uranium exploration properties which Melkior sold to Otish Energy (NR December 19, 2007). Melkior retains an interest in the uranium prospects via a 1% Net Smelter Return Royalty (NSR).
The surveyed claims adjoin the MacLeod Lake copper-molybdenum property of Western Troy Capital Resources Inc. (WRY) on which WRY is undertaking a feasibility study. The objective of Melkior's airborne survey is to map the contact of gneissic rocks with granodiorite as it extends onto the Melkior claims. This contact controls the WRY deposits. WRY has given Melkior permission to overfly the MacLeod Lake deposits and to integrate this data with the current survey which will permit both companies to establish the geophysical signature of the deposits and will facilitate the search for similar signatures and new deposits.
The preliminary airborne geophysical data has been received. Targets for ground examination have been selected and an initial ground geological and sampling program is underway.
The potential for a new mine by Western Troy will bring access and infrastructure to an area previously remote and under explored. Development of diamond, uranium and gold prospects in the region is also anticipated.
As a policy, Melkior acquires and explores land positions in developing exploration areas of Ontario and Quebec. This policy is demonstrated by Melkior's active projects at MacLeod Lake, Timmins, Geraldton and Mc Faulds Lake.
This news release was prepared by Jens E. Hansen, P. Eng., President, Melkior Resources Inc., a Qualified Person under NI 43-101.
The TSX Venture Exchange (TSX-V) has not reviewed and does not accept 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 regulations. Melkior undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.
Contacts: Melkior Resources Inc. Jens E. Hansen, P. Eng., President 613-721-2919 613-680-1091 (FAX) melkior@rogers.com www.melkior.com
SOURCE: Melkior Ressources Inc.
mailto:melkior@rogers.com http://www.melkior.com
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