METANOR DISCOVERS A SUB-VERTICAL SHEAR ZONE EAST OF THE BARRY PIT NEAR SURFACE AND CONFIRMS THE EXTENSION OF THE WEST ZONE IN THE BARRY PIT

March 8th, 2017 – Val-d’Or, Quebec, Canada: Metanor Resources Inc. (“Metanor”) (TSX – V: MTO) is pleased to provide an update on its ongoing surface drilling program at the Barry project in the Urban-Barry camp.  Sixteen holes have been drilled so far this year, totalling 2,730 meters, towards the south-east and south-west of the Barry pit.

 

Highlights:

 

  • The drill holes MB-17-42 and MB-17-43 identified the mineralized sub-vertical shear structure.

 

  • The holes MB-17-29 to MB-17-38 drilled south-east of the pit allowed for the increase in size of the mineral envelope to the west associated to the pit.

 

Many narrow shear structures with gold mineralization, were encountered by the two drill holes MB-17-42 and MB-17-43.The discovery of higher grade mineralization (3.1 to 13.6 g/t over thickness near 2 meters) associated with the shear structures, provides the opportunity to define and extend narrow panels which may lead to a more selective mining method.

 

The eleven holes drilled to the south-east allowed for the expansion of the west zone in all directions, and the limits have not been determined by the recent drilling.  The gold bearing sector is located on the hanging wall of a felsic intrusive.  Elsewhere in the deposit, the gold presence is largely associated with the intrusive.  This relation is also mentioned in the Windfall deposit located 12 km to north-east.

 

The three holes MB-17-39, 40, and 41 were drilled along the mineralized zone with the objective to confirm the continuity and distribution of the gold structure, and to collect sufficient core material for metallurgical testing of this new zone.  The drill holes followed the gold structure, and only a few segments of intrusive rock interrupted the gold grade.

 

The two holes MB-17-37 and 38 were drilled to extend the mineralized zone at depth beneath the central pit.  The table below presents the details of the drill intercepts.  The plan presents the location of the drill holes.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other than  holes MB-17-39, 40, and 41 that were drilled along the vein, the mineralized intercepts true thicknesses are 75% to 90% of the drill core intercepts reported.  No assays were capped because none were above 30 g/t.

 

The drill campaign continues under the supervision of M. Claude Gobeil, exploration manager of Metanor at the Barry project with the collaboration of GoldMind Geoservices Inc.

 

Quality Control and Reporting Protocols

 

Metanor 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 Barry Project

 

The Barry project is located in the Urban-Barry mining camp, 110 km east from the city of Lebel-sur-Quévillon.  624,414 tonnes of ore grading 2.2 g/t for 43,970 ounces were extracted 3 pits between 2008 and 2010.  A positive preliminary economic assessment was published in 2016 demonstrating the economic potential of the open pit mine extracting gold.  A drill campaign is underway on the Barry property to increase mineral resources, and eventually proceed with a prefeasibility study.

 

Qualified Persons

 

Pascal Hamelin, P. Eng., Vice-president of Operations, is the Qualified Person under NI 43-101, responsible for reviewing and approving the technical information contained in this news release.

 

Claude Duplessis, Ing., of Goldminds Geoservices Inc., is the independent qualified person under NI 43-101 who has prepared and reviewed the technical information contained in this 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:
Ronald Perry, Vice-president
Telephone: 514-262-8286
email: rperry@metanor.ca
2872, chemin Sullivan, suite 2

Val-d’Or, QC J9P 0B9

 

 

 

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