July 05, 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 underground drill campaign at the Moroy zone, including new high-grade results of 8.4 g/t Au over 5.5 metres, 11.0 g/t Au over 4.0 metres and 10.7 g/t Au over 4.4 metres. These new results demonstrate the high-grade continuity to the Moroy Zone along strike to the east.
Highlights from new drillholes include:
- MY18-063 from 140.2 m. to 145.7 m. 4 g/t Au over 5.5 m.
Intermediate volcanic rock, moderate-pervasive hematite alteration with local weak epidote alteration, 0.5% to 1% disseminated fine pyrite.
- MY18-054 from 87.8 m. to 92.2 m. 7 g/t Au over 4.4 m.
Sheared intermediate volcanic rock, weak to moderate pervasive hematite alteration, trace disseminated fine pyrite
- MY18-070 from 140.5 m. to 144.5 m. 0 g/t Au over 4.0 m.
Intermediate volcanic rock, moderate to strong pervasive hematite alteration, 0.5-1% disseminated fine pyrite
Highlights of the last 36 drill holes that intersected gold mineralization are listed below:
|Hole #||From (m)||To (m)||Length (m)||Au g/t|
*Stated intervals are core lengths as drilled, true thicknesses vary and average between 65% to 80% of core lengths.
|Hole #||UTM – East||UTM – North||UTM – Elevation||Length (m)||Length (ft)||Azimuth||Dip|
Metanor continues to explore at the Moroy zone with 1 underground diamond drill rig completing 50 ft step outs. The first part of the ore sill and haulage drift is now complete and the ore drift will be pushed eastward along strike. Metanor has also completed two raises up to sub-level two. This development into the Moroy zone will provide additional ore for daily gold production.
Section Look East:
Quality Control and Reporting Protocols
Metanor estimates that the actual thicknesses of the mineralized intersections are between 65% and 80% 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’s 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 Bachelor Mine produces gold from a mineralized sub-vertical narrow vein system. The Moroy zone is a south-parallel system to the Bachelor mine. New development and drill programs are currently being conducted on the Moroy zone. Mine methods used are long-hole mining with rail-track access from a vertical shaft, and the new sub-level sector 14 is accessible from a ramp system. The ore is processed on site at the Bachelor processing plant using the activated carbon process. The mill is on site and accessible by a paved road.
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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Val-d’Or, QC J9P 0B9
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