Barry
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On November 4, 2010, Metanor received from SGS-Geostat final results of the Mineral Resource Estimation for its very promising Barry Open Pit.
Resources were evaluated at 7 701 000 Tonnes averaging 1,29 g/t Au uncapped (1,25 g/t Au capped) and containing 309 500 oz. of indicated resources. Further, there are 10 411 000 Tonnes averaging 1,65 g/t Au uncapped (1,41 g/t Au capped) containing 471 950 oz of inferred resources. The cut-off grade was 0,5 g/t and capping was 35 g/t.
This resource estimation included Metanor’s 2009-2010 drilling campaigns as well as the historical drill holes and the different channel samplings made by Metanor in 2008 and 2009 (approx. a total of 40 000 m of drilling since its discovery). This calculation is based primarily on the following approximate size of the pit (125m wide x 100m deep x 1 000m long). Gold bearing zones start at surface and were intercepted at depth at over 400m deep.
Based on geophysical anomalies detected to the south west and north east of the open pit strike length of the deposit was estimated at potentially 4 km (4 000m) long and it is still open in all directions. Together with its many other anomalies the Barry property has the possibility and potential of significant additional resources.
|
Tonnes (metric) |
Grade (g/t Au) |
Contained ounces |
|
|---|---|---|---|
| Indicated resources | 7 701 000 | 1,29 | 309 500 |
| Inferred resources | 10 411 000 | 1,65 | 471 950 |
