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Message: Melkior Drills Eldorado at Timmins

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Melkior Drills Eldorado at Timmins

posted on Jan 13, 11 08:06AM (Log in to use the IP Check tool) ^[?]

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OTTAWA, ONTARIO--(Marketwire - Jan. 13, 2011) - Melkior Resources Inc. (TSX VENTURE:MKR) is pleased to announce that drilling on its 100% owned Eldorado property commenced January 6th 2011. The objective of the drill program is to test time domain electromagnetic (VTEM) targets defined in 2008. These will be tested for the possible presence of nickel-copper mineralization. A total of 6 holes will be drilled for approximately 1020 metres.

The 2008 VTEM survey mapped several linear trending anomalies, as well as isolated anomalies with magnetic support. The interpreted conductors trend in the northeast and east west directions and are characterized by variable size and conductance. Most of the detected EM anomalies are either associated with or controlled by magnetic lineaments suggesting a metallic nature of the EM response. It is believed to possibly contain komatiite Kambalda style nickel copper sulphide mineralization.

The Eldorado project is located approximately 25 kilometres southeast of Timmins, Ontario. The project consists of 384 unpatented mining claim units totalling 6144 hectares. Eldorado is road accessible and located 2 kilometres north of Liberty Mines Inc. Redstone mine, which is in commercial production and 2 kilometres northwest of Liberty's McWatter mine, which is in pre-production. The drilling will serve the dual purposes of testing high priority geophysical targets and of satisfying assessment requirements to maintain the property in good standing.

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. The Carscallen gold project remains Melkior's key exploration project.