METANOR EXTENDS EXPLORATION DRILLING AT THE NEW BART ZONE INTERSECTING 18.9 G/T AU OVER 1.6 METRE IN A HIGH-GRADE SHEAR ZONE

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)
BEO-17-79 151.0 151.5 15.6 0.5
189.7 190.2 119.0 0.5
BEO-17-80 150.4 152.0 18.9 1.6
BEO-17-83 8.0 8.5 6.4 0.5
BEO-17-84 134.6 135.1 3.1 0.5
BEO-17-85 190.6 191.3 5.5 0.7
BEO-17-89 105.0 105.5 18.7 0.5

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.”

Drillhole locations:

Hole # Azimuth Dip Length (m) UTM East UTM North Elevation
BEO-17-79 360 -60 369 440339 5426294 400
BEO-17-80 360 -90 174 440390 5426404 400
BEO-17-81 360 -85 150 440340 5426404 400
BEO-17-82 360 -45 198 440365 5426400 400
BEO-17-83 360 -45 201 440560 5426390 400
BEO-17-84 360 -85 321 440300 5426350 400
BEO-17-85 360 -45 207 440300 5426350 400
BEO-17-86 335 -45 252 440190 5426575 400
BEO-18-87 360 -45 174 440090 5426390 400
BEO-18-88 360 -45 123 440190 5426505 400
BEO-18-89 360 -65 111 440300 5426270 400
BEO-18-92 360 -50 205 439866 5426219 407

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.

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.

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