VAL-D’OR, Quebec, April 19, 2018 (GLOBE NEWSWIRE) — Metanor Resources Inc. (the “Company” or “Metanor”) (TSX-V:MTO) is pleased to announce drill results from the on-going drill campaign at the Barry project, including new high-grade results of 15.8 g/t Au over 1.5 metres and 12.3 g/t Au over 1.3 metres. These new results have extended the deposit 100 metres to the east and 75 metres at depth, demonstrating the continuity and predictability of its shear-hosted gold deposit.
Highlights from new drillholes include:
|• MB-17-54 ext||from 158.1 m to 159.6 m||15.8 g/t Au over 1.5 m|
|Biotite-sericite altered basalt with quartz stockwork and 3-5% pyrite|
|• MB-18-155||from 406.0 m to 406.5 m||18.1 g/t Au over 0.5 m|
|Quartz veining zone in altered basalt with 5% pyrrhotite, 3% pyrite and 3% chalcopyrite|
|• MB-18-156||from 387.2 m to 394.5 m||4.0 g/t Au over 7.3 m|
|Including 387.2 m to 388.5 m||12.3 g/t Au over 1.3 m|
|Strong biotite-sericite-chlorite-hematite altered basalt with quartz carbonate veining and 2% pyrite|
|• MB-18-157||from 676.0 m to 680.0 m||5.5 g/t Au over 4.0 m|
|Strong carbonatization-silicification zone in the altered basalt with quartz carbonate veining and 1.5% pyrite|
Highlights of the last 7 drill holes that intersected multiple shears follow:
|# Hole||From (m)||To (m)||Length (m)||Grade Au (g/t)|
|MB-18-158||no significant results|
|*Stated lengths are core width as drilled, true widths vary and average between 60 and 80 percent of drilled widths.|
|Hole Number||Azimuth||Dip||Length (m)||UTM East||UTM North||Elevation|
Metanor continues to rapidly advance the exploration of the Barry project by expanding known shear zones at depth and along strike through its surface drilling campaign with 3 diamond drill rigs on the Barry project.
The Company anticipates that the development of the decline for the bulk sample will accelerate in the coming days as milder weather is expected. To date, over 40 metres of development has been completed.
Plan view of the Barry project is available at https://resource.globenewswire.com/Resource/Download/c09a0296-547a-44a4-9622-0a4caf826367
Quality Control and Reporting Protocols
Metanor estimates that the actual thicknesses of the mineralized widths 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-Quévillon, and 110 km south of the Bachelor mill. 624,414 tonnes of ore grading 2.2 g/t 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 shear zones. These structures are open in all directions.
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
email: [email protected]
2872, Sullivan Rd, suite 2
Val-d’Or, QC J9P 0B9