12:12 PM EDT, 04/29/2025 (MT Newswires) -- Melkior Resources ( MKRIF ) was last seen up 95% after the company on Tuesday reported high-grade gold mineralization in its 1,200-meter, five-hole, winter drilling program at its Carscallen gold property in northern Ontario.

The company said best results from the program included 77.4 grams per tonne of gold over 6.9 meters at the 1010 South Zone.

"The newly discovered bonanza grade mineralization at the 1010 Gold Zone, together with our high-grade gold prospects at Zamzam, Jowsey and Shenkman gold showings, truly attest to the upside potential of the area for significant mineral discoveries," said Director Jim Deluce. "Our next step is to review the intercept in more detail to determine follow-up holes to expand on this high-grade intercept."

The company's shares were last seen up $0.105 to $0.215 on the TSX Venture Exchange.

Price: 0.22, Change: +0.11, Percent Change: +95.45