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Metanor (MTO-V) is a new Canadian Gold Producer located in Quebec. It reached commercial production on December 1, 2013 and will produce 50,000 oz in calender 2014 with a present all-in cash cost of $1,018US.

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Message: Metanor Intersects 19.1 g/t Au over 3.6 metres at the Bachelor Mine down-plunge of Main Vein

 

2018-05-29 12:34:31 PM ET (GlobeNewswire)
   
   

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: phamelin@metanor.ca

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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