Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Melkior Resources Inc. (MKR – TSX Venture) announced assay results from six new holes from the 2011 diamond drill program on its 100% owned Carscallen gold project, located 5 kilometres west of the Timmins Gold Deposit and recent Thunder Creek gold discovery. All holes intersected multiple intervals of anomalous gold mineralization; the highlight was hole CAR-71-2011, which intersected one of the widest, high-grade gold intercepts to date from the property and returned 13.25 metres at 5.10 g/t gold from the Shenkman Zone at a vertical depth of 200 metres. The current drill program intersected a second mineralized quartz porphyry dyke proximal to the Shenkman Zone which provides an additional target for future testing. Hole CAR-67-2011 tested the ZamZam Zone and the remaining five holes tested the Shenkman Zone. Assays from seven holes of the recently completed program are still pending.
