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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 the Barry project, including new high-grade results of 7.4 g/t Au over 4.4 metres, 7.1 g/t Au over 4.2 metres, 9.4 g/t Au over 2.9 metres and 8.2 g/t Au over 2.6 metres. These new drill holes were designed to expand the deposit westerly and at depth, which continues to demonstrate strong continuity to the mineralized system.
Highlights from new drillholes include:
? MB-18-195 from 226.8 m. to 238.4 m. 3.7 g/t Au over 11.6 m
Including 226.8 m. to 231.2 m. 7.4 g/t Au over 4.4 m.
Sheared basalt zones with, quartz stockwork, 2% pyrite multiple VG grains.
? MB-18-191 from 193.8 m. to 198.0 m. 7.1 g/t Au over 4.2 m.
Massive basalt with local shearing, quartz-carbonate stringers, chlorite-carbonate alteration and 1-2% pyrite.
? MB-18-194 from 151.4 m. to 154.0 m. 8.2 g/t Au over 2.6 m.
Basalt host with quartz stockwork, chlorite-carbonate-biotite-albite alteration and 1% pyrite.
Highlights of the last 10 drill holes that intersected multiple shears include:
Hole # From (m) To (m) Length (m) Grade Au (g/t)
MB-18-186 156.8 161.0 4.2 2.8
including 156.8 157.6 0.8 10.5
213.6 216.4 2.8 4.9
239.1 240.9 1.8 3.9
MB-18-187 178.0 179.7 1.7 9.8
196.5 197.1 0.6 3.3
MB-18-188 145.5 147.6 2.1 7.4
293.5 294.5 1.0 16.3
305.6 307.2 1.6 3.8
MB-18-189 143.3 144.3 1.0 3.0
169.6 171.5 1.9 4.2
179.3 180.3 1.0 3.0
202.3 206.8 4.5 2.2
220.0 220.6 0.6 5.7
341.9 344.0 2.1 3.8
MB-18-190 232.0 233.8 1.8 2.6
370.5 373.5 3.0 2.3
MB-18-191 193.8 198.0 4.2 7.1
207.5 210.4 2.9 9.4
264.0 265.6 1.6 3.1
285.8 287.9 2.1 5.0
MB-18-193 336.8 337.3 0.5 6.0
MB-18-194 151.4 154.0 2.7 8.2
183.5 186.5 3.0 4.3
231.3 231.9 0.6 7.4
MB-18-195 215.5 217.0 1.5 3.5
226.8 238.4 11.6 3.7
including 226.8 231.2 4.4 7.4
MB-18-196 231.5 232.6 1.1 5.9
264.3 264.8 0.5 7.1
318.5 321.5 3.0 2.6
*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-18-186 330 -63 372 443399 5425906 399
MB-18-187 330 -67 402 443675 5426023 402
MB-18-188 330 -53 687 443966 5426072 395
MB-18-189 330 -62 354 443455 5425902 400
MB-18-190 280 -65 420 443675 5426023 402
MB-18-191 330 -47 366 443455 5425901 400
MB-18-192 307 -81 369 443581 5426064 407
MB-18-193 330 -57 462 443466 5425780 396
MB-18-194 330 -68 486 443828 5426178 397
MB-18-195 359 -63 444 443495 5425923 400
MB-18-196 330 -53 525 443911 5426122 395
The development of the Barry ramp is progressing on schedule with approximately 300 metres of 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: phamelin@metanor.ca
2872, Sullivan Rd, suite 2
Val-d'Or, QC J9P 0B9
Two maps accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/b1cbc7d2-0906-4b86-aaac-c463d5a6f622
http://www.globenewswire.com/NewsRoom/AttachmentNg/cc633588-51ea-40ed-81ff-9dbc0e1f8c3d
https://resource.globenewswire.com/Resource/Download/66f69adc-2f2b-4ce0-bb83-e01cadc53216?size=1
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