Page 40 Page 40 MLEN SPRING 2020 By Kevin V incent It will come as no surprise to any one in northeastern Ontario mining circles that KL Gold now has its fn gerprints on W est T immins On the heels of a terrifc exploration news release in early May Melkior Re sources announced that Kirkland Lake Gold had agreed to invest 1 million into Melkior s Carscallen Project It s a region that KL Gold President T ony Makuch is intimately familiar with The west T immins gold region is home to the Lakeshore Gold Mine now operated by Pan Ameri can Silver a mine that Makuch helped build from the ground up many years ago W e are extremely proud to an nounce this landmark equity invest ment and potential jointventure agreement with one of the world s most respected gold mining com panies said Jonathon Deluce Chief Executive Ofcer of Melkior Resources W e believe this may provide our shareholders with the upside of dis covery with limited share dilution to advance the property Kirkland Lake Gold CEO T ony Makuch was President and CEO of Lake Shore Gold from 2008 until its acquisi tion by T ahoe Resources in 2016 The operation was later acquired again by Pan American Silver which shares a 9km border with our Carscallen gold project added De luce The market liked the announce ment as well Melkior s share price rose from 27 cents to as much as 1 by the middle of the month Under terms of the deal Kirk land can acquire an option on the Carscallen Property which is 25 kms west of T immins KL Gold will have the right to earn up to a 50 interest in the Property over a fve year period as long as they spend money on exploration Upon com pletion of the earn in and formation of a joint venture Kirkland would retain the right to acquire an addi tional 25 interest in the property over a subsequent fve year period Mr Makuch and his technical team have a comprehensive understand ing of the geological setting within the T immins gold camp which we felt as a board made this the perfect ft said Deluce W e will continue to focus on advancing our other assets while providing updates as they come available at the Carscal len Project W e want to thank our longstanding shareholders as we look forward to welcoming Kirkland Lake Gold as a strategic partner upon completion of the fnancing The news however didnt stop there On May 21 just days after the KL Gold announcement Melki or released more drilling numbers that took it into a world other than gold silver copper and zinc Melkior said it believes it has dis covered a new VMS volcanogenic massive sulphide hosted environ ment in Carscallen in its recent drill program The discovery occurred approxi mately 264 meters south of the current deep drilling program initi ated in early March of 2020 The third drill hole CAR2006 tested a misealamasse MALM con ductor and encountered strong chalcopyrite copper sphalerite zinc mineralization described as clots and disseminations as well as arsenopyrite pyrite and pyrrho Melkior gets KL Gold vote of confdence