Melkior Resources Inc. (TSXV: MKR | OTCQB: MKRIF | CSE reference: PNG) has reported initial assay results from its 2026 winter diamond drill program at the wholly owned Carscallen Gold Project, located approximately 25 kilometres west of Timmins, Ontario. The first two holes of a 10-hole, 3,136-metre program confirm down-plunge continuity of gold mineralisation within the 1010 South structural corridor, extending the system to approximately 280 metres vertical depth. Investors may be watching closely as assays from eight additional drill holes remain pending.

Key Points

  • Melkior Resources Inc. (TSXV: MKR | OTCQB: MKRIF) explores gold projects in Ontario and Québec, with Carscallen as its core asset
  • Holes MKR-26-001 and MKR-26-002 confirm gold mineralisation continuity within the 1010 South Zone to approximately 280 metres depth
  • MKR-26-001 returned 2.91 g/t Au over 2.89 m, including 9.17 g/t Au over 0.90 m; MKR-26-002 returned 2.52 g/t Au over 2.60 m, including 6.33 g/t Au over 0.93 m
  • Assays from eight remaining drill holes and 78 surface rock samples are outstanding

Drill Results Extend the 1010 South Zone at Carscallen Toward Greater Depth

The two initial holes intersected mineralised shear-hosted quartz-carbonate veins associated with sulphide alteration, consistent with the structural setting previously identified at Carscallen. The company states the higher-grade intervals are interpreted to extend the plunge of a high-grade shoot intersected in earlier hole MKR-24-002, which returned 77.4 g/t Au over 6.9 m, approximately 180 metres below the nearest historical drilling. Mineralised structures are described as remaining open both laterally and at depth, which the disclosure suggests supports ongoing target expansion within the 1010 Zone corridor.

Property-Wide Winter Program Targets Multiple Zones Across the Timmins Gold Camp

Beyond the 1010 Zone, the 2026 winter program drilled targets along the ZamZam-Jowsey corridor and at the Northwest Prospect, reflecting the company's strategy to evaluate Carscallen as a property-scale gold system. Melkior also reports that a fully funded surface exploration program is underway, encompassing geological and structural mapping, prospecting, and systematic rock sampling. To date, 178 rock samples have been collected and submitted for analysis, with partial results received from 100 of those samples. The company states these results will be integrated with current drilling data to refine structural controls and generate additional drill targets.

QA/QC Standards and Independent Verification Underpin Reported Assay Integrity

Core samples were delivered in sealed bags to AGAT Laboratories Ltd., an independent ISO/IEC 17025 accredited facility, for preparation and gold analysis by 50-gram fire assay with atomic absorption finish. Elevated samples were reanalysed using gravimetric methods where appropriate. The company's quality assurance and quality control program includes certified reference materials, blanks, and field duplicates inserted at regular intervals. The technical disclosure was reviewed and approved by Martin Ethier, P.Geo., a qualified person as defined under National Instrument 43-101.