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Metanor Resources Inc. (the "Company" or "Metanor") (TSX-V:MTO) is pleased to announce drill results from the on-going underground drill campaign at the Bachelor Mine, including new high-grade results of 19.1 g/t Au over 3.6 metres, 12.0 g/t Au over 4.0 metres and 6.4 g/t Au over 21.8 metres. These new results have extended the deposit 183 metres or 600 feet below the lowest working level at Bachelor Mine and demonstrate the southeasterly plunging continuity to the deposit. Highlights from new drill holes include:
? 14-238 from 37.2 m. to 40.8 m. 19.1 g/t Au over 3.6 m.
Intermediate volcanic host with hematite-epidote alteration and 2-5 % pyrite mineralization.
? E18-234 from 361.5 m. to 365.5 m. 12.0 g/t Au over 4.0 m.
Intermediate Volcanic host with hematite-sericite alteration and 1- 2 % pyrite finely disseminated and forming stringers.
? 14-239 from 34.3 m. to 56.1 m. 6.4 g/t Au over 21.8 m.
Intermediate Volcanic host with hematite-epidote-carbonate alteration and 2 - 5 % pyrite. Possible structure perpendicular to the Main vein. Further drilling required to confirm the structure.
Highlights of the last 37 drill holes that intersected gold mineralization are listed below:
Hole # From (m) To (m) Length (m) Au g/t Zone
14-238 37.2 40.8 3.6 19.1 16-00-01
57.5 59.5 2.0 7.1
14-239 34.3 56.1 21.8 6.4
68.6 69.8 1.2 5.9
14-240 59.0 59.5 0.5 5.1
14-241 69.4 70.6 1.2 0.5
14-242 68.5 70.6 2.0 5.9
74.4 82.2 7.8 4.9
14-243 74.7 76.7 2.0 6.5
14-244 74.8 76.6 1.8 4.5
14-245 79.0 90.2 11.3 4.5
14-246 85.7 87.0 1.3 2.3
14-247 81.6 82.3 0.8 0.9
14-256 70.1 71.6 1.5 0.4
14-257 Trace
14-258 85.1 85.5 0.5 1.9
14-235 172.7 176.8 4.2 4.5 16-00-04
14-232 150.8 152.0 1.2 5.6 16-00-06
14-233 164.5 165.6 1.1 10.3
14-236 183.9 186.4 2.5 0.7
E17-170 420.7 424.4 3.7 4.7 Explo
deep
E17-171 495.7 497.6 1.8 3.7
E17-172 438.9 439.5 0.7 4.4
E17-174 Trace
E17-203 521.7 522.4 0.7 1.2
E17-204A 419.7 421.5 1.8 2.1
E17-205 382.5 383.5 1.1 5.5
E17-211 498.6 509.5 10.8 0.4
E17-212 Trace
E17-213 405.2 407.6 2.4 0.8
E17-218 375.2 379.0 3.9 6.4
E17-219A 362.3 363.8 1.5 8.4
E17-220 492.3 495.9 3.6 0.4
E17-221 475.5 476.2 0.7 3.7
E17-222 Trace
E17-223 Trace
E17-224 Trace
E18-225 343.3 345.8 2.5 6.0
E17-226 Trace
E18-234 361.5 365.5 4.0 12.0
*Stated intervals are core lengths as drilled, true thicknesses vary and average between 65% to 80% of core lengths.
Drillholes information:
Hole # Azimuth Dip Length (ft) Length (m) UTM East UTM North Elevation
14-232 203 -32 560 171 416952.2 5483434.1 -296.6
14-233 209.5 -34 600 183 416952.0 5483434.3 -296.7
14-235 179 -37.5 660 201 416953.0 5483433.5 -297.2
14-236 203 -40 650 198 416952.2 5483434.1 -297.0
14-238 208 -30.3 275 84 417084.0 5483307.7 -366.5
14-239 217 -35.2 300 91 417083.8 5483307.8 -366.6
14-240 203 -37.3 300 91 417084.2 5483307.7 -366.7
14-241 191.5 -39.5 310 95 417084.5 5483307.6 -366.7
14-242 225.5 -39.4 335 102 417083.7 5483308.0 -366.6
14-243 213 -40.7 325 99 417084.0 5483307.9 -366.6
14-244 203 -42.8 335 102 417084.2 5483307.8 -366.7
14-245 232.5 -41.7 360 110 417083.6 5483308.2 -366.7
14-246 220.5 -45.1 360 110 417084.0 5483308.2 -366.6
14-247 208 -46.5 360 110 417084.3 5483308.1 -366.7
14-256 191.5 -45.5 325 99 417084.6 5483308.0 -366.7
14-257 184 -49 360 110 417084.8 5483308.0 -366.7
14-258 197 -50 360 110 417084.5 5483308.0 -366.7
E17-170 170 -48 2800 854 417002.4 5483560.2 -295.7
E17-171 154 -40 2000 610 417002.4 5483560.2 -295.7
E17-172 209 -52 1977 603 417002.4 5483560.2 -295.7
E17-174 239 -37 2000 610 417002.4 5483560.2 -295.7
E17-203 161 -47 1751.5 534 417002.4 5483560.2 -295.7
E17-204A 159 -36.7 1600 488 417002.4 5483560.2 -295.7
E17-205 182 -44.5 1450 442 417002.4 5483560.2 -295.7
E17-211 167.5 -50.5 1800 549 417002.4 5483560.2 -295.7
E17-212 204 -41.5 1450 442 417002.4 5483560.2 -295.7
E17-213 153 -35 1700 518 417002.4 5483560.2 -295.7
E17-218 167.5 -38 1400 427 417002.4 5483560.2 -295.7
E17-219A 164 -31 1350 412 417002.4 5483560.2 -295.7
E17-220 161 -45 1700 518 417002.4 5483560.2 -295.7
E17-221 150.5 -36 1760 537 417002.4 5483560.2 -295.7
E17-222 334 -30 900 274 416480.8 5483279.9 -293.0
E17-223 6 -50 875 267 416480.8 5483279.9 -293.0
E17-224 54 -51 1050 320 416480.8 5483279.9 -293.0
E18-225 182 -39 1400 427 417002.4 5483560.2 -295.7
E17-226 233 -32 1500 457 417002.4 5483560.2 -295.7
E18-234 198.5 -39 2095 639 417002.4 5483560.2 -295.7
Metanor continues to explore at Bachelor Mine with 2 underground diamond drill rigs drilling into the new Moroy zone. The diamond drilling in the Main vein will resume at depth once the Main ramp reaches the lower mineralized horizon.
Quality Control and Reporting Protocols
Metanor estimates that the actual thicknesses of the mineralized intersections are between 65% and 80% of the core lengths. No capping grade is used at this stage. The Company uses a rigorous QA-QC analytical program according to industry standards. The analytical results were done by pyroanalysis (A.A.) at the mine laboratory. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. The company's QA-QC analytical verification program requires that a minimum of 5% of the samples be audited at an independent laboratory. These audit assays were sent to ALS laboratory located in Val-d'Or, Quebec. The results of the audits are consistent with those obtained.
About the Bachelor Mine
The Bachelor Mine produces gold from a mineralized sub-vertical narrow vein system. Methods used are long-hole mining with rail-track access from a vertical shaft, and the new sub-level sector 14 is accessible from a ramp system. The ore is processed on site at the Bachelor processing plant using the activated carbon process. The mill is on site and accessible by a paved road.
Qualified Persons
Pascal Hamelin, P. Eng., President and COO, is the Qualified Person under NI 43-101, who is responsible for reviewing and approving the technical information contained in this news release.
Cautionary and Forward-Looking Statements
This press release includes certain statements that may be deemed as "forward-looking statements". The potential quantity and grade is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. All statements in this discussion, other than those of historical fact, that address future exploration drilling, exploration activities and projected exploration, including costs and other estimates upon which such projections are based, and events or developments that the company expects, are considered forward-looking statements. Although the Company believes the expectations expressed in these forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Pascal Hamelin, President & COO
Telephone: 819-825-8678
email: [email protected]
2872, Sullivan Rd, suite 2
Val-d'Or, QC J9P 0B9
Fig. 1 accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/44235f74-b728-469d-ba56-7b75351b559c
Fig. 2 accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/20e7edc2-6618-4cf4-bf6a-e0305c938954
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