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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 Moroy zone, including new high-grade results of 8.4 g/t Au over 5.5 metres, 11.0 g/t Au over 4.0 metres and 10.7 g/t Au over 4.4 metres. These new results demonstrate the high-grade continuity to the Moroy Zone along strike to the east.
Highlights from new drillholes include:
-- MY18-063 from 140.2 m. to 145.7 m. 8.4 g/t Au over 5.5 m.
Intermediate volcanic rock, moderate-pervasive hematite alteration with local weak epidote alteration, 0.5% to 1% disseminated fine pyrite.
-- MY18-054 from 87.8 m. to 92.2 m. 10.7 g/t Au over 4.4 m.
Sheared intermediate volcanic rock, weak to moderate pervasive hematite alteration, trace disseminated fine pyrite
-- MY18-070 from 140.5 m. to 144.5 m. 11.0 g/t Au over 4.0 m.
Intermediate volcanic rock, moderate to strong pervasive hematite alteration, 0.5-1% disseminated fine pyrite
Highlights of the last 36 drill holes that intersected gold mineralization are listed below:
Hole # From (m) To (m) Length (m) Au g/t
MY18-023 Tr
MY18-024 Tr
MY18-025 Tr
MY18-026 Tr
MY18-027 Tr
MY18-029 Tr
MY18-030 376.2 377.8 1.6 8.5
MY18-031 Tr
MY18-035 250.2 251.0 0.8 11.3
& 272.1 273.0 0.9 2.7
MY18-036 Tr
MY18-037 417.7 419.1 1.4 3.8
MY18-038 234.8 237.2 2.4 6.1
& 424.2 426.7 2.5 7.2
MY18-039 437.9 439.5 1.6 6.5
MY18-040 206.1 207.4 1.3 2.5
& 439.8 441.4 1.6 0.3
MY18-041 TR
& 257.2 257.8 0.6 4.9
MY18-042 367.8 368.9 1.1 6.0
& 428.1 430.7 2.6 0.5
MY18-043 441.6 442.3 0.7 12.6
MY18-044 445.7 446.5 0.8 0.3
MY18-053 122.0 123.3 1.4 10.3
MY18-054 87.8 92.2 4.4 10.7
& 115.9 116.5 0.6 8.1
MY18-055 123.9 125.3 1.4 3.5
MY18-056 130.3 131.4 1.2 1.5
MY18-057 131.1 133.0 1.9 5.4
MY18-058 137.7 139.3 1.6 3.5
MY18-059 121.0 124.3 3.2 5.1
MY18-060 98.2 99.4 1.2 4.5
& 124.4 126.8 2.4 6.4
MY18-061 Tr
MY18-062 61.5 63.0 1.4 4.6
& 142.7 145.6 2.9 6.4
MY18-063 140.2 145.7 5.5 8.4
MY18-064 138.0 140.0 2.0 5.6
MY18-065 134.6 139.7 5.1 4.3
including 134.6 136.2 1.6 7.5
& 104.1 108.0 3.9 7.6
MY18-066 Tr
MY18-067 135.6 140.6 5.1 6.0
MY18-068 149.2 152.4 3.2 4.5
MY18-069 144.0 145.7 1.7 6.1
MY18-070 140.5 144.5 4.0 11.0
*Stated intervals are core lengths as drilled, true thicknesses vary and average between 65% to 80% of core lengths.
Drillholes information:
Hole # UTM - East UTM - North UTM - Elevation Length (m) Length (ft) Azimuth Dip
MY18-023 417143 5483135 -130.5 409 1340 197 -11
MY18-024 417143 5483135 -130.5 366 1200 200.5 -29
MY18-025 417143 5483135 -130.5 366 1200 188 -44
MY18-026 417143 5483135 -130.5 457 1500 203 -19
MY18-027 417143 5483135 -130.5 396 1300 211 -47.5
MY18-029 417143 5483135 -130.5 366 1200 153 -42
MY18-030 417143 5483135 -130.5 442 1450 145.5 -16
MY18-031 417143 5483135 -130.5 463 1520 153 -5.2
MY18-035 417094 5482959 -129.3 295 966 146.5 3.3
MY18-036 417094 5482959 -129.3 296 970 143.7 3.3
MY18-037 417143 5483135 -130.5 454 1490 157.5 1
MY18-038 417143 5483135 -130.5 462 1515 153.5 1
MY18-039 417143 5483135 -130.5 491 1610 147.5 1
MY18-040 417143 5483135 -130.5 508 1665 143.5 1
MY18-041 417143 5483135 -130.5 540 1770 136 1
MY18-042 417143 5483135 -130.5 497 1630 161 6.5
MY18-043 417143 5483135 -130.5 505 1655 157.5 6.5
MY18-044 417143 5483135 -130.5 524 1720 151 6.5
MY18-053 417110 5482819 -128.4 152 500 154.5 8.5
MY18-054 417110 5482819 -128.4 149 490 161.5 9
MY18-055 417110 5482819 -128.4 152 500 147 8
MY18-056 417110 5482819 -128.4 145 475 168.5 8.5
MY18-057 417110 5482819 -128.4 162 530 141 7.5
MY18-058 417110 5482819 -128.4 168 550 136 7.5
MY18-059 417110 5482819 -128.4 160 525 157.5 13.5
MY18-060 417110 5482819 -128.4 159 520 164.5 14
MY18-061 417110 5482819 -128.4 155 510 172 14
MY18-062 417110 5482819 -128.4 174 570 144.5 13
MY18-063 417110 5482819 -128.4 178 583 154.5 17.5
MY18-064 417110 5482819 -128.4 174 570 161.5 18
MY18-065 417110 5482819 -128.4 171 560 168.5 18
MY18-066 417110 5482819 -128.4 168 550 176 17.5
MY18-067 417110 5482819 -128.4 160 525 148.5 14
MY18-068 417110 5482819 -128.4 175 575 148.5 18.5
MY18-069 417110 5482819 -128.4 204 670 204 16
MY18-070 417110 5482819 -128.4 195 640 191 22.5
Metanor continues to explore at the Moroy zone with one underground diamond drill rig completing 50 ft step outs. The first part of the ore sill and haulage drift is now complete and the ore drift will be pushed eastward along strike. Metanor has also completed two raises up to sub-level two. This development into the Moroy zone will provide additional ore for daily gold production.
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. The Moroy zone is a south-parallel system to the Bachelor mine. New development and drill programs are currently being conducted on the Moroy zone. Mine 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
Maps accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/807a26c5-38cf-4bfd-b3cb-d7b30e3dd184
http://www.globenewswire.com/NewsRoom/AttachmentNg/8d8c3ca7-9c34-4978-8ff4-0de116b81c71
https://resource.globenewswire.com/Resource/Download/66f69adc-2f2b-4ce0-bb83-e01cadc53216?size=1
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