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Metanor Resources Inc. (the "Company" or "Metanor") (TSX-V: MTO) is pleased to announce drill results from the on-going drill campaign at Barry, including new high-grade results of 15.7 g/t Au over 2.4 metres, 14.6 g/t Au over 1.8 metres, 12.2 g/t Au over 2.7 metres and 14.2 g/t Au over 1.2 metres. These new drill holes were designed to infill the South-Eastern portion at depth and to test the felsic intrusive on the western extent of the deposit. Current drilling has demonstrated the continuity and predictability of its shear-hosted gold deposit for over 1.1 km in strike length.
Highlights from new drillholes include:
MB-18-185 from 113.5 m. to 125.6 m. 5.0 g/t Au over 12.1 m
Including 113.5 m. to 115.9 m. 15.7 g/t Au over 2.4 m.
Including 120.6 m. to 122.0 m. 13.3 g/t Au over 1.4 m
Sheared basalt zones with silica-sericite-biotite alteration, quartz stockwork, 2% pyrite and 6% pyrrhotite.
MB-18-184 from 330.6 m. to 332.4 m. 14.6 g/t Au over 1.8 m.
Massive basalt with quartz-carbonate stringers, chlorite-carbonate-biotite alteration and 1% pyrite.
MB-18-176 from 387.0 m. to 389.7 m. 12.2 g/t Au over 2.7 m.
Quartz feldspar porphyry host in contact with basalt displaying chlorite-sericite alteration, 1% pyrite and visible gold grains.
MB-18-167 from 323.1 m. to 324.2 m. 14.2 g/t Au over 1.1 m.
Basalt host proximal to contact with felsic porphyry with breccia textures, numerous quartz-carbonate veinlets and 1% pyrite.
MB-18-173 from 376.2 m. to 380.2 m. 5.7 g/t Au over 4.0 m.
Including 376.2 m. to 377.4 m. 14.2 g/t Au over 1.2 m.
Fine-grained basalt with small visible shears, quartz-carbonate veinlets and 1% pyrite.
MB-18-175 from 476.2 m. to 478.0 m. 7.5 g/t Au over 1.8 m.
Intermediate basalt host with tuffaceous textures, sericite-silica alteration, multiple visible shears with quartz-carbonate veinlets and 1% pyrite.
Highlights of the last 24 drill holes that intersected multiple shears include:
Hole # From (m) To (m) Length (m) Grade Au (g/t)
MB-18-161 227.2 231.5 4.3 5.6
MB-18-162 286.0 286.5 0.5 5.1
401.4 402.4 1.0 6.1
MB-18-163 134.8 135.4 0.6 3.6
410.6 412.8 2.2 3.3
MB-18-164 116.7 117.3 0.6 5.5
120.8 124.7 3.9 3.6
MB-18-165 160.0 160.8 0.8 7.2
438.8 440.5 1.7 3.5
MB-18-166 97.0 98.3 1.3 3.1
139.7 141.5 1.8 5.5
275.4 277.3 1.9 7.5
MB-18-167 323.1 324.2 1.1 14.2
625.2 626.1 0.9 5.0
MB-18-168 210.2 212.2 2.0 2.8
MB-18-169 53.8 54.3 0.5 10.8
57.8 58.4 0.6 4.0
74.5 75.5 1.0 7.5
MB-18-170 41.5 42.9 1.4 5.1
302.5 304.8 2.3 5.2
357.9 360.3 2.4 2.5
438.8 440.2 1.4 3.9
MB-18-171 352.7 355.3 2.6 3.4
MB-18-172 281.1 282.9 1.8 4.9
346.0 346.5 0.5 5.7
383.0 385.0 2.0 3.3
388.0 393.2 5.2 2.9
613.0 614.0 1.0 3.2
617.7 620.0 2.3 5.0
MB-18-173 261.3 263.3 2.0 2.3
376.2 380.2 4.0 5.7
including 376.2 377.4 1.2 14.2
460.3 463.6 3.3 3.1
465.6 466.4 0.8 6.1
MB-18-175 274.1 275.1 1.0 3.1
393.0 394.3 1.3 5.7
476.2 478.0 1.8 7.5
MB-18-176 387.0 389.7 2.7 12.2
418.7 419.2 0.5 3.5
MB-18-177 231.5 232.0 0.5 6.6
426.7 427.7 1.0 6.6
MB-18-178 79.0 80.0 1.0 3.4
MB-18-179 319.9 321.1 1.2 5.4
339.2 341.2 2.0 7.8
MB-18-180 390.0 392.4 2.4 7.3
517.2 518.0 0.8 4.5
697.7 699.8 2.1 5.3
MB-18-181 62.2 65.3 3.1 3.0
294.5 296.0 1.5 3.0
MB-18-182 43.3 44.5 1.0 5.0
MB-18-183 93.3 95.3 2.0 5.7
102.7 103.3 0.6 6.2
MB-18-184 281.4 282.2 0.8 15.3
330.6 332.4 1.8 14.6
410.9 412.5 1.6 5.7
MB-18-185 98.8 101.5 2.7 6.2
113.5 125.6 12.1 5.0
including 113.5 115.9 2.4 15.7
including 120.6 122.0 1.4 13.3
*Stated lengths are core width as drilled, true widths vary and average between 70 and 95 percent of drilled widths.
Drillholes locations:
Hole # Azimuth Dip (º) Length (m) UTM East UTM North Elevation (m)
MB-18-161 330 -53 675 444286 5426361 395
MB-18-162 330 -46 426 444238 5426449 395
MB-18-163 330 -50 465 444280 5426468 392
MB-18-164 330 -50 432 444148 5426491 393
MB-18-165 330 -45 477 444214 5426397 391
MB-18-166 330 -49 333 444105 5426489 393
MB-18-167 330 -56 705 444326 5426385 390
MB-18-168 330 -48 375 444189 5426339 391
MB-18-169 330 -56 621 444014 5426549 395
MB-18-170 330 -65 504 444166 5426265 391
MB-18-171 330 -69 477 444254 5426324 391
MB-18-172 330 -54 804 444164 5426174 392
MB-18-173 330 -60 600 443616 5426103 400
MB-18-175 330 -65 600 443579 5426065 400
MB-18-176 330 -45 516 444331 5426311 390
MB-18-177 330 -57 654 444337 5426158 391
MB-18-178 330 -72 450 443517 5426100 400
MB-18-179 330 -54 561 444383 5426292 390
MB-18-180 330 -52 810 444300 5426137 391
MB-18-181 330 -60 450 443517 5426100 400
MB-18-182 330 -49 462 443460 5426084 402
MB-18-183 330 -49 324 443434 5426037 400
MB-18-184 330 -74 450 443460 5426084 402
MB-18-185 330 -53 261 443355 5426008 400
The development of the Barry ramp is progressing on schedule with approximately 130 metres of ramp advancement to date. The ramp will provide access to both underground drill bays and extraction of the bulk sample program in Q4 2018.
Quality Control and Reporting Protocols
Metanor estimates that the actual thicknesses of the mineralized intersections are between 70% and 95% 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 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.
The Barry Project
The Barry project is located in the Urban-Barry camp, 110 km east from the city of Lebel-sur-Quevillon, and 110 km south of the Bachelor mill. 624,414 tonnes of ore grading 2.2 g/t Au for 43,970 ounces were extracted from three small pits between 2008 and 2010. A drilling campaign is underway at the Barry property to increase mineral resources below the pits in multiple high-grade shear zones and to proceed with an underground bulk sample program. The gold mineralization at the Barry project is structurally controlled and is hosted in a sheared basalt containing quartz-carbonate-albite veins with pyrite. Metanor has identified three main sub-vertical shear zones and approximately ten secondary lower dipping tension veins. These structures are open in all directions.
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
A map accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b8a761cf-0de3-45dd-9c48-3716f697f535
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