METANOR COMPLETES MOROY ACCESS AND INTERCEPTS 50.9 G/T AU OVER 4.8M

April 9, 2018 – Val-d’Or, Quebec, Canada: Metanor Resources Inc. (“Metanor”) (TSX – V: MTO) is pleased to announce that the ongoing underground development at level 11 of the Bachelor mine successfully reached the two known Moroy veins, while returning significant intercepts such as 50.9 g/t Au over 4.8 metres, and 5.6 g/t Au over 4.4 metres, and extending the continuity of the structures in all directions.

 

These ongoing results continue to confirm the company’s theory that there is parallel system to depth, and helps our team better understands the system.

 

Greg Gibson, Chairman, and Interim CEO stated: “Reaching the Moroy zones is an important milestone in our rebuilding strategy.  With this new development, we will be able to significantly increase our production profile.  Coupled with the initiation of the Barry decline, we now move toward our mill expansion project, which is the only permitted and operating facility in the extremely prospective Urban Barry camp.”

 

The drill hole results to date in the Moroy sector are presented in the table below:

 

Hole #

From (m)

To (m) *Length ( m)

Grade Au(g/t) uncapped

Sector
MY17-012

305.5

306.5 1.0

0.4

MY18-015

264.3

265.9

1.6

4.5

M1
MY18-017

147.3

147.9 0.6

28.7

M2
MY18-017

266.3

270.7 4.4

5.6

M1
MY18-018

132.6

134.9 2.3

4.5

M2
MY18-018

201.5

203.7 2.2

6.1

MY17-019

125.0

126.0 1.0

7.5

M2
MY18-020

126.1

126.7 0.6

4.9

M2
MY18-020

202.4

203.8 1.4

8.5

MY18-020

243.1

244.7 1.6

8.6

M1
MY17-021

219.3

221.5 2.2

2.0

M2
MY17-021

341.5

342.4 0.9

2.5

M1

MY17-022

245.8 249.4

3.6

2.6

MY17-022

500.1

511.6 11.5

0.5

MY18-027 Pending assay results
MY18-028

238.0

239.4 1.4

2.5

MY18-028

250.5

253.0 2.5

6.3

MY18-028

290.5

294.5 4.0

3.0

M1
MY18-029 Pending assay results
MY18-032

104.6

106.6 2.0

9.2

MY18-032

271.3

272.9 1.6

2.0

M1
MY18-034

256.3

257.0 0.7

19.0

M1
MY18-034

264.6

269.4 4.8

50.9

M1
Including

264.6

265.2 0.6

342.0

 

The exploration drilling at Moroy will continue with two drill rigs from the existing drill bays on  level 11 with a focus to define the extension of Moroy at depth and along strike.

 

Plan view of level 11

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Longitudinal view of Moroy

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quality Control and Reporting Protocols

 

Metanor estimates that the mineralized intercepts true thicknesses are 70% to 90% of the drill core intercepts reported in the Moroy veins. Grades were uncapped at Moroy. The Company employs a rigorous, industry-standard, QA/QC program. The samples were assayed by fire-assay at the Metanor assay lab.  Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. The quality control program of the assay results (QA/QC) adopted by Metanor includes a minimum of 10% of controlled assays being conducted as well as verification by an independent ALS-certified assay laboratory in Val-d’Or, Québec. Results of the spot checks were consistent with those reported.

 

About The Bachelor Mine

 

The Bachelor mine extracts gold from a series of sub-vertical narrow veins using an underground long-hole mining method with access through conventional track drifts from a vertical shaft, and the new sector below level 14 is accessed from a ramp system.  The ore is processed on site in a mill using carbon in pulp to separate the gold from the ore.  All the lodging facilities are on site, connected to the power grid, and accessible from a paved highway.

 

 

Qualified Persons

 

Pascal Hamelin, P. Eng., President and COO, is the Qualified Person under NI 43-101, 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 “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, chemin Sullivan, suite 2

Val-d’Or, QC J9P 0B9

 

 

 

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