METANOR INTERSECTS 5.0 G/T AU OVER 12.1 METRES AT BARRY

June 14, 2018 – Val-d’Or, Quebec, Canada: Metanor Resources Inc. (the “Company” or “Metanor”) (TSX – V: MTO) is pleased to announce drill results from the on-going drill campaign at Barry, including new high-grade results of 15.7 g/t Au over 2.4 metres, 14.6 g/t Au over 1.8 metres, 12.2 g/t Au over 2.7 metres and 14.2 g/t Au over 1.2 metres. These new drill holes were designed to infill the South-Eastern portion at depth and to test the felsic intrusive on the western extent of the deposit. Current drilling has demonstrated the continuity and predictability of its shear-hosted gold deposit for over 1.1 km in strike length.

 

Highlights from new drillholes include:

 

  • MB-18-185             from 113.5 m. to 125.6 m.                 0 g/t Au over 12.1 m

Including      113.5 m. to 115.9 m.                15.7 g/t Au over 2.4 m.

Including      120.6 m. to 122.0 m.                13.3 g/t Au over 1.4 m

 

Sheared basalt zones with silica-sericite-biotite alteration, quartz stockwork, 2% pyrite and 6% pyrrhotite.

 

  • MB-18-184             from 330.6 m. to 332.4 m.                 6 g/t Au over 1.8 m.

Massive basalt with quartz-carbonate stringers, chlorite-carbonate-biotite alteration and 1% pyrite.

 

  • MB-18-176             from 387.0 m. to 389.7 m.                 2 g/t Au over 2.7 m.

Quartz feldspar porphyry host in contact with basalt displaying chlorite-sericite alteration, 1% pyrite and visible gold grains.

 

  • MB-18-167             from 323.1 m. to 324.2 m.                2 g/t Au over 1.1 m.

Basalt host proximal to contact with felsic porphyry with breccia textures, numerous quartz-carbonate veinlets and 1% pyrite.

 

  • MB-18-173             from 376.2 m. to 380.2 m.                  7 g/t Au over 4.0 m.

Including       376.2 m. to 377.4 m.               14.2 g/t Au over 1.2 m.       

 

Fine-grained basalt with small visible shears, quartz-carbonate veinlets and 1% pyrite.

 

  • MB-18-175             from 476.2 m. to 478.0 m.                 5 g/t Au over 1.8 m.

Intermediate basalt host with tuffaceous textures, sericite-silica alteration, multiple visible shears with quartz-carbonate veinlets and 1% pyrite.

 

Highlights of the last 24 drill holes that intersected multiple shears include:

 

Hole #

From (m)

To (m) Length (m)

Grade Au (g/t)

MB-18-161

227.2

231.5 4.3

5.6

MB-18-162

286.0

286.5 0.5

5.1

401.4

402.4 1.0

6.1

MB-18-163

134.8

135.4 0.6

3.6

410.6

412.8 2.2

3.3

MB-18-164

116.7

117.3 0.6 5.5
120.8 124.7 3.9

3.6

MB-18-165

160.0

160.8 0.8

7.2

438.8

440.5 1.7

3.5

MB-18-166

97.0

98.3 1.3 3.1
139.7 141.5 1.8

5.5

275.4

277.3 1.9

7.5

MB-18-167

323.1

324.2 1.1

14.2

625.2

626.1 0.9

5.0

MB-18-168

210.2

212.2 2.0

2.8

MB-18-169

53.8

54.3 0.5 10.8
57.8 58.4 0.6

4.0

74.5

75.5 1.0

7.5

MB-18-170

41.5

42.9 1.4 5.1
302.5 304.8 2.3

5.2

357.9

360.3 2.4 2.5
438.8 440.2 1.4

3.9

MB-18-171

352.7

355.3 2.6

3.4

MB-18-172

281.1

282.9 1.8 4.9
346.0 346.5 0.5

5.7

383.0

385.0 2.0 3.3
388.0 393.2 5.2

2.9

613.0

614.0 1.0 3.2
617.7 620.0 2.3

5.0

MB-18-173

261.3

263.3 2.0 2.3
376.2 380.2 4.0

5.7

including

376.2

377.4 1.2

14.2

460.3

463.6 3.3 3.1
465.6 466.4 0.8

6.1

MB-18-175

274.1

275.1 1.0 3.1
393.0 394.3 1.3

5.7

476.2

478.0 1.8

7.5

MB-18-176

387.0

389.7 2.7 12.2
418.7 419.2 0.5

3.5

MB-18-177

231.5

232.0 0.5 6.6
426.7 427.7 1.0

6.6

MB-18-178

79.0

80.0 1.0

3.4

MB-18-179

319.9

321.1 1.2 5.4
339.2 341.2 2.0

7.8

MB-18-180

390.0

392.4 2.4

7.3

517.2

518.0 0.8 4.5
697.7 699.8 2.1

5.3

MB-18-181

62.2

65.3 3.1 3.0
294.5 296.0 1.5

3.0

MB-18-182

43.3

44.5 1.0

5.0

MB-18-183

93.3

95.3 2.0

5.7

102.7

103.3 0.6

6.2

MB-18-184

281.4

282.2 0.8 15.3
330.6 332.4 1.8

14.6

410.9

412.5 1.6

5.7

MB-18-185

98.8

101.5 2.7

6.2

113.5

125.6 12.1

5.0

including

113.5

115.9 2.4

15.7

including

120.6

122.0 1.4

13.3

 

 

*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-18-161

330

-53 675 444286 5426361

395

MB-18-162

330

-46 426 444238 5426449

395

MB-18-163

330

-50 465 444280 5426468

392

MB-18-164

330

-50 432 444148 5426491

393

MB-18-165

330

-45 477 444214 5426397

391

MB-18-166

330

-49 333 444105 5426489

393

MB-18-167

330

-56 705 444326 5426385

390

MB-18-168

330

-48 375 444189 5426339

391

MB-18-169

330

-56 621 444014 5426549

395

MB-18-170

330

-65 504 444166 5426265

391

MB-18-171

330

-69 477 444254 5426324

391

MB-18-172

330 -54 804 444164 5426174

392

MB-18-173

330

-60 600 443616 5426103

400

MB-18-175

330

-65 600 443579 5426065

400

MB-18-176

330

-45 516 444331 5426311

390

MB-18-177

330

-57 654 444337 5426158

391

MB-18-178

330

-72 450 443517 5426100

400

MB-18-179

330

-54 561 444383 5426292

390

MB-18-180

330

-52 810 444300 5426137

391

MB-18-181

330

-60 450 443517 5426100

400

MB-18-182

330

-49 462 443460 5426084

402

MB-18-183

330

-49 324 443434 5426037

400

MB-18-184

330

-74 450 443460 5426084

402

MB-18-185

330

-53 261 443355 5426008

400

 

The development of the Barry ramp is progressing on schedule with approximately 130 metres of ramp advancement to date.  The ramp will provide access to both underground drill bays and extraction of  the bulk sample program in Q4 2018.

 

Section View along MB-18-185:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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-Quévillon, 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.

 

– 30 –

 

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

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