Melkior Resources Inc. Discovers New High-Grade Gold Zone

Melkior Resources Inc., a discovery company specializing in the acquisition and exploration of Canadian mining properties, has announced a significant new high-grade gold discovery at its Carscallen Gold Property. This discovery was made during a 1,200-meter winter drill program, which has identified a new high-grade zone with notable gold concentrations.

Key Findings from the Drill Program

The drill program revealed a gold concentration of 77.4 grams per ton (g/t) over a 6.9-meter interval. Notably, the highest grade gold interval discovered was 445 g/t Au over 1.2 meters. This discovery is part of the N-S trend, 1010 gold-mineralized structural zone, located approximately 1 kilometer southwest of the Shenkman Zone. The Shenkman Zone is known for previous discoveries, including 51.9 g/t gold over 3.7 meters and 23.5 g/t gold over 8 meters.

Strategic Location and Impact

The Carscallen Gold Property, where the discovery was made, is situated about 25 kilometers west of the City of Timmins, Ontario. The strategic location and the results of the drill program are expected to enhance the property’s potential for further exploration and development.

Market Reaction

Following the announcement, Melkior Resources Inc.’s shares experienced a surge in investor interest. This reaction is attributed to the current high gold prices and the potential for significant returns from the newly discovered high-grade zone. The discovery has particularly excited investors, given the company’s focus on uranium, nickel, and gold exploration.

Company Overview

Melkior Resources Inc. is listed on the TSX Venture Exchange and trades in Canadian dollars (CAD). As of April 28, 2025, the company’s close price was 0.23 CAD, with a market capitalization of 3,330,000 CAD. Despite a negative price-to-earnings ratio of -732.98, the recent discovery has positively influenced investor sentiment.

For more information about Melkior Resources Inc. and its operations, interested parties can visit their website at www.melkior.com .