The area near Timmins, in northern Ontario, has always been and remains gold-rich; the city of about 40,000 residents dubs itself, “The City with a Heart of Gold”.
On Wednesday, one of those more-prominent residents, Melkior Resources Inc. (TSX-Venture:MKR) saw fit to tell the world about a new gold surface grab sample on the Denton property within an area of historic trenching that assayed 9.59 grams per ton gold (g/t Au) and 6.6 g/t silver (Ag).
The area is located approximately 60 kilometres north of Highway 101. This new showing was taken in mid-summer 2019 and is located approximately two kilometres east and 1,500 metres south of an earlier grab sample that assayed 3.9 g/t gold, and approximately 4,800 metres southwest of the Shenkman, Zam Zam and Jowsey Zones.
Melkior adds that planning is currently underway to initiate a drill program in Carscallen Township commencing in mid-October.
Shares sprouted half a cent, or 20%, as the clock approached noon ET on Wednesday, to three cents on 112,000
