STEP OUT DRILLING EXTENDS MAIN ZONE AT DEPTH AND INTERCEPTS 21.2 G/T AU OVER 1.7 METER AT BARRY PROJECT

February 27th, 2018 – Val-d’Or, Quebec, Canada: Metanor Resources Inc. (“Metanor”) (TSX – V: MTO) is pleased to announce new high-grade results of 21.2 g/t Au over 1.7 metres, 31.5 g/t Au over 1.1 meters and 24.7 g/t Au over 1.5 metres at the Barry project. Metanor has also extended the main shear zone at depth with grades of 6.4 g/t Au over 5.1 metres and 3.9 g/t Au over 12.0 metres.

 

Metanor continues to advance the exploration of the Barry project by expanding known shear zones at depth and along strike through its surface drilling campaign. The program has a total of 3 diamond drill rigs, 2 drilling on the Barry project and 1 drill rig exploring other targets in the camp.

 

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 shear zones. These structures are open in all directions.

 

Highlights of drill intercepts in high-grade shear zones include:

 

 

  • MB-17-142             from 184.9 m. to 186.6 m.                2 g/t Au over 1.7 m.

Strong shear zone in altered basalt along felsic intrusive contact. Numerous quartz veinlets with ~10% pyrite.

 

  • MB-17-143             from 180.1 m. to 181.6 m.                7 g/t Au over 1.5 m.

Sheared and altered basalt with ~15% pyrite, pyrrhotite and folded quartz veining with VG.

 

  • MB-17-52 ext        from 163.0 m. to 164.1 m.                5 g/t Au over 1.1 m.

Altered and sheared basalt containing numerous quartz veinlets and ~5% fine pyrite.

 

  • MB-18-152            from 257.0 m. to 262.1 m.                4 g/t Au over 5.1 m.

Silicified sheared basalt with VG and ~6% fine pyrite – pyrrhotite.

 

Highlights of the last 12 drill holes intercepting multiple shears are as follows:

 

# Hole

From (m)

To (m) Length (m)

Grade Au(g/t)

MB-17-141

198.0

199.0 1.0 16.9
209.0 212.0 3.0

4.5

478.0

479.4

1.4

5.0
MB-17-142

142.0

143.0 1.0 8.0
184.9 186.6 1.7

21.2

MB-17-143

180.1

181.6 1.5 24.7
226.5 227.5 1.0

4.4

MB-17-144

148.0

149.0 1.0

7.2

MB-17-145

146.0

147.0 1.0

12.7

MB-17-146

56.0

57.0 1.0

6.5

63.5

64.5 1.0

5.4

387.0

389.3 2.3

3.1

MB-18-148

459.0

471.0 12.0

3.9

MB-18-149

337.2

338.9 1.7

6.3

MB-18-150

650.4

650.9 0.5

17.8

MB-18-151

137.7

138.2 0.5

8.8

MB-18-152

257.0

262.1 5.1

6.4

MB-17-52 ext

142.0

142.5 0.5

16.9

163.0 164.1 1.1 31.5

 

 

Hole location:

 

Hole Number

Azimuth

Dip Length (m) UTM East UTM North

Elevation

MB-17-141

335

-66 486 443956 5426321

400

MB-17-142

330

-49 453 443775 5426201

400

MB-17-143

330

-43 429 443810 5426195

395

MB-17-144

330

-46 324 444044 5426450

395

MB-17-145

330

-65 423 443995 5426306

400

MB-17-146

330

-52 462 443809 5426295

400

MB-18-148

330

-55 1002 444363 5426065

400

MB-18-149

330

-55 477 444550 5426172

400

MB-18-150

330

-55 1100 444550 5426172

400

MB-18-151

330

-56.5 510 444140 5426419

395

MB-18-152

330

-57 475 444188 5426336

395

MB-17-52 ext

330 -45 400 443981 5426403

394

 

Plan view of the Barry project:

 

 

 

 

 

 

 

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.  Theses 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 mining 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 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 proceeding with an underground bulk sample program.

 

Lastly, the Corporation wishes to add to the press release issued December 28, 2017 regarding the completed private placement.  In addition to the insider participation described, three insiders of Metanor participated in the non-brokered private placement for aggregate proceeds of $40,800.

 

Qualified Persons

 

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.

 

– 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

PR-2018-02-18-Barry.pdf
Size: 398.06 KB Format: PDF