Melkior Resources (V.MKR) commences drilling at Launay and stocks jump 16%

Gaalen Engen Gaalen Engen, Stockhouse.com
0 Comments| November 20, 2013


Melkior Resources (TSX-V:MKR, StockForum), an exploration stage company engaged in the acquisition and exploration of mining properties in Quebec and Ontario, announced today that the company had begun drilling at it Launay gold project based in the Abitibi Greenstone Belt in Quebec.

 

Beaufield Resources has teamed with Melkior for 10% interest to fund the currently announced drilling program at Launay.

 

The company news release stated, “The program will concentrate on Zone 75 where previous drill holes collared in gold mineralization intersected 1.83 g/t gold over 46.35 metres (hole LAY-08-2012) and 1.20 g/t gold over 21.09 metres (hole ML-87-87) (refer to press releases May 24th, 2013 and August 30th, 2012.).”

 

It detailed further, “Melkior has compiled and accurately positioned all historical drilling as well as surface work. The 9 definition holes of this program are based on the 2012 and historical drill data.”

 

And finally summing up, “Based on the drilling Melkior and Beaufield will mutually determine if the information is adequate to prepare a resource calculation.”

 

Melkior Resources was in the news recently when it announced drilling at Carscallen gold project.

 

Shares rose 16.67% on the news to $0.04 per share.

 

Currently there are 122,922,870 shares outstanding with a market cap of $4.3 million.


Tags: INDUSTRIAL METALS & MINERALS PRICE ACTION SHARE MINING AND ENERGY

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