March 01, 2018 08:32 ET
VAL-D’OR, QUEBEC–(Marketwired – March 1, 2018) – Metanor Resources Inc. (the “Company” or “Metanor”) (TSX VENTURE:MTO) is pleased to announce new high-grade intercepts including 18.9 g/t Au over 1.6 metres at the new Bart zone, located 3.5 km west of the Barry Project in the Urban-Barry Camp, 110 km south of the Bachelor mill.
Metanor began drilling the Bart zone in late 2017 and will continue to drill during the 2018 campaign. The company has now completed 12 holes for a total of 2,985 metres. The holes were designed to test historical gold grades, such as 23.8 g/t Au over 4.4 metres and 11.8 g/t Au over 6.5 metres. These drillholes were completed by Oracle in the 1990’s. From this recent drilling the exploration team has been able to identify and confirm gold-bearing shears/veins within the mafic intrusive host.
Highlights of drill intercepts in high-grade shear zones include:
- BEO-17-79 from 189.7 m to 190.2 m 119.0 g/t Au over 0.5 m
Quartz veining with +/-50 grains of visible gold within sheared gabbro
- BEO-17-80 from 150.4 m to 152.0 m 18.9 g/t Au over 1.6 m
Silicified zone with 2 % fine pyrite
Highlights of the first 12 drill holes on the Bart Zone:
|Hole #||From (m)||To (m)||Au g/t||Length (m)|
Greg Gibson, Interim CEO stated “With these new high-grade intercepts on the New Bart Zone, it strengthens the belief that the Urban-Barry camp is part of a much larger system that is still yet to be fully exploited.”
|Hole #||Azimuth||Dip||Length (m)||UTM East||UTM North||Elevation|
Plan view of the Barry project: http://media3.marketwire.com/docs/1107359_Fig1.jpg
Detailed plan view of the Bart zone: http://media3.marketwire.com/docs/1107359_Fig2.jpg
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 New Bart Zone
The New Bart Zone is located within the Barry claim package, 3.5 km West of the Barry project. The host rock is composed of alternating basalt/andesite and gabbro/diorite packages that contain gold-bearing shear zones and quartz veins.
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.