Welcome To The Metanor Resources HUB On AGORACOM

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 8.4 g/t Au over 5.5 metres at Moroy

 

 
2018-07-05 09:15:13 AM 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 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: phamelin@metanor.ca

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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