August 28th, 2017 – Val-d’Or, Quebec, Canada: Metanor Resources Inc. (“Metanor”) (TSX – V: MTO) is pleased to provide this update on its ongoing surface drilling program at the Barry project located in the Urban-Barry camp. Over the past three months, the focus has been on verifying the extension of several gold bearing shear zones identified below and located outside the Barry pit area. The current program has attained its main objective of outlining the high-grade gold bearing shear zones. Since the last press release issued June 8th, 2017, 21 holes have been drilled and assayed and they have all intersected multiple shears at various depth.
The shears are now showing continuity over 600 metres along strike, and 400 metres vertically. A minimum of 5 parallel shear zones have been identified so far while remaining open along strike and at depth. Highlights of drill intercepts in the quartz-pyrite veins associated to the shear zones include:
- MB-17-83 from 313.0 m to 322.0 m 4.8 g/t Au over 9.0 m
- MB-17-88 from 473.4 m to 480.6 m 6.2 g/t Au over 7.2 m
- MB-17-99 from 389.3 m to 397.5 m 7.1 g/t Au over 8.2 m
- MB-17-99 from 487.0 m to 492.5 m 9.4 g/t Au over 5.5 m
The upcoming phase of the drill campaign at the Barry project will continue to focus on identifying and extending more high-grade shear zones. Two drill rigs are currently on site. A third drill is dedicated to the Moss area located halfway between the Barry project and the Windfall deposit belonging to Osisko Mining. In addition, Metanor is following through the permit issuing process for the construction of a larger permanent camp to accommodate an increased workforce allowing for the beginning of ramp excavation construction to access underground multiple shear zones.
Plan view of the Barry project:
The table below presents the details of the drill intercepts:
|Hole N°||From (m)||To (m)||Length (m)*||Grade Au (g/t)||Location|
|265.7||268.7||3.0||2.3||SHR, COI (Footwall)|
|299.0||299.5||0.5||9.3||COI (Footwall), VG|
|207.2||207.7||0.5||4.8||Vqtz, COI (Hangingwall)|
|152.8||155.0||2.2||5.3||SHR, COI (Footwall)|
|MB-17-85||223.1||226.2||3.1||8.1||SHR, COI (Footwall)|
|MB-17-86||189.0||192.0||3.0||3.2||SHR, COI (Footwall)|
|MB-17-88||160.9||166.4||5.5||4.4||SHR, COI (Footwall)|
|342.4||347.4||5.0||2.5||SHR, COI (Footwall)|
|MB-17-94||127.0||130.0||3.0||1.8||COl (hanging wall)|
|320||472||Pending assay results|
|360.0||458.0||Pending assay results|
Quality Control and Reporting Protocols
Metanor estimates the mineralized intercepts true thicknesses are 65% to 75% of the drill core intercepts reported. Grades were capped at 31 g/t. Metanor uses 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. All the positive assays from the company assay lab are incorporated in the minimum 10% sent to the independent lab. Spot checks results were consistent with those reported.
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 from 3 pits between 2008 and 2010. A positive preliminary economic assessment was published in 2016 demonstrating economic potential of the open pit mine gold extraction. A drill campaign is underway at the Barry property to increase mineral resources below the pit, and eventually, proceed with an underground bulk sample, before completing a prefeasibility study.
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.
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For more information, please contact:
Pascal Hamelin, President & COO
2872, Sullivan Rd, suite 2
Val-d’Or, QC J9P 0B9
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