Mr. Ghislain Morin reports
METANOR INTERSECTS 2.3 G/T AU OVER 60M ON SURFACE AT THE BARRY PROJECT
Metanor Resources Inc. has released the complete results from the diamond drilling campaign recently completed at the Barry property located 116 kilometres from the Bachelor mill. A total of 1,370 metres were drilled during this campaign.
Recent highlights:
-
2.3 grams per tonne gold over 60 metres in hole MB-16-11, east extension of the main pit;
- 1.3 grams per tonne gold over 55 metres in hole MB-16-10, east extension of the main pit.
Including:
-
4.6 grams per tonne gold over 18 metres in hole MB-16-11;
-
3.7 grams per tonne gold over 12 metres in hole MB-16-10.
These last results, from holes MB-16-10 and MB-16-11, confirm the extension of the main pit to the southeast, with grades and thicknesses favourable to open-pit extraction.
The drill campaign of spring 2016 at Barry met its objectives: to extend the mineralized zones and to validate zones at higher grades in the new mineralization model proposed by Claude Duplessis, Ing, the qualified person from GoldMinds Geoservices Inc. The next step is to estimate the mineral resources from the new interpretation. Metanor is currently considering an additional drill campaign of 15,000 metres on the extensions of the pits due to the potential of a major pit.
Ghislain Morin, president and chief executive officer, declared, "We are very happy with the results of this campaign and we will rapidly take the required steps to validate the restart of operations on the Barry property."
COMPLETE RESULTS OF THE SPRING 2016 PROGRAM AT BARRY
Hole No. From To Length (i) Grade Note
(m) (m) (m) Au
(g/t)
MB-16-01 95 109 14 1.5 2
Including 103 109 6 3.0 2
MB-16-02 22 30 8 0.8 2
MB-16-03 43 46 3 3.4 2
MB-16-04 1.6 6 4.4 2.1 3
MB-16-04 17 27 10 2.5 3
MB-16-05 38 52 14 2.8 2
MB-16-05 63 71 8 1.7 2
MB-16-06 28 58 30 1.8 3
Including 28 41 13 3.6 3
MB-16-07 58 78 20 0.8 3
Including 69 78 9 1.3 2
MB-16-08 36 63 27 1.6 2
Including 36 41 5 5.4 2
MB-16-09 28 32 4 1.0 2
MB-16-09 54 59 5 1.5 2
MB-16-09 79 84 5 2.1 2
MB-16-09 140 143 3 3.2 2
MB-16-10 5 60 55 1.3 1
Including 5 9 4 2.2 1
Including 33 40 7 3.7 1
Including 50 60 10 1.2 1
MB-16-11 18 78 60 2.3 1
Including 18 32 14 2.6 1
Including 37 49 12 1.6 1
Including 60 78 18 4.6 1
MB-16-12 7 40 33 1.9 2
Including 16 40 24 2.4 2
Including 22 40 18 3.1 2
Including 22 30 8 4.4 2
Including 35 39 4 4.9 2
MB-16-12 50 59 9 1.2 2
Including 50 53 3 2.2 2
MB-16-13 33 37 4 1.2 2
MB-16-13 43 51 8 4.1 2
MB-16-14 21 61 40 2.1 2
Including 52 61 9 5.4 3
MB-16-15 101 126 27 0.9 2
Including 101 106 5 2.2 2
Including 110 119 10 0.9 2
(i) Core length
Notes:
1. New results
2. Results published May 11, 2016
3. Results published April 27, 2016
GoldMinds estimates that the mineralized intercepts' true thicknesses are 85 per cent to 95 per cent of the drill cores. No capping was used. A rigorous, industry-standard, quality assurance/quality control program is in place. 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 independent quality control program of the assay results (QA/QC) adopted by GoldMinds includes a minimum of 5 per cent of controlled core and assays being conducted by an independent ALS-certified assay laboratory in Val d'Or, Que. Actual QA/QC results demonstrate results can be disclosed and relied upon.
Qualified persons
Pascal Hamelin, PEng, vice-president of operations, is the qualified person under NI 43-101, responsible for reviewing and approving the technical information contained in this news release.
Claude Duplessis, PEng, from GoldMinds Geoservices Inc., is the independent qualified person under NI 43-101 who has prepared and reviewed the technical information contained in this news release.
We seek Safe Harbor.
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