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or Name
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Metanor Resources Inc
Symbol MTO
Shares Issued 436,194,249
Close 2016-10-05 C$ 0.07
Market Cap C$ 30,533,597
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Metanor drills 8.1 m of 11.8 g/t Au at Bachelor

2016-10-06 09:53 ET - News Release

Mr. Ronald Perry reports

METANOR INTERSECTS 12.0 G/T AU OVER 3.9 M IN A NEW SECTOR OF THE BACHELOR MINE

Metanor Resources Inc. is providing an update on its underground exploration and definition drilling program at the Bachelor mine. Several zones are currently being drilled.

From (m)          To (m)             Length (m)(i)    Grade Au (g/t)              Zone

73.8               75.5                       1.6               7.5             6-H-14
80.0               82.3                       2.3                                  8.1
74.7               76.2                       1.5                                 10.6
70.1               71.6                       1.5                                  5.7
77.9               80.5                       2.6                                  2.2
77.9               78.5                       0.6                                  2.2
82.9               84.8                       1.9                                  6.3
83.1               84.8                       1.6                                 14.2
121.4             123.3                       1.9               5.9             6-H-12
117.1             118.7                       1.6                                  9.0
116.0             118.9                       2.9                                  5.7
105.9             108.8                       2.9                                 12.1
114.5             116.6                       2.0                                  3.1
105.9             108.8                       2.9                                 12.1
28.3               39.9                      11.6               7.1             8-H-06
16.0               19.1                       3.1                                  4.9
13.4               15.9                       2.5                                  5.7
12.0               13.0                       1.0                                  2.7
32.9               37.3                       4.4                                  9.3
42.8               44.2                       1.4                                  4.2
47.1               48.0                       0.9                                  5.2
48.8               50.3                       1.6                                  5.9
66.0               67.1                       1.1               7.4            12-H-10
64.0               66.8                       2.7                                  6.3
76.1               78.3                       2.2                                  4.7
61.9               62.5                       0.6                                  7.4
46.3               50.4                       4.1                                 10.3
59.4               60.9                       1.6                                  5.6
62.8               66.7                       3.9                                 12.0
57.9               60.1                       2.1                                  3.7
97.2              105.3                       8.1              11.8           15-00-03
63.0               66.5                       3.5                                  6.0
103.5             108.3                       4.8                                  7.7
32.6               35.1                       2.4                                  7.8
41.8               44.9                       3.1                                 10.6
27.7               30.0                       2.3               6.5           15-00-01
                                                                           and 15-E-01
46.3               48.0                       1.7                                  5.3
28.9               33.5                       4.6                                  4.1
86.3               97.8                      11.5                                  3.5
44.7               45.3                       0.6                                  5.7
56.6               58.6                       2.0                                  3.3
40.4               45.7                       5.3                                 11.5
49.2               52.3                       3.0                                 16.2
34.6               37.0                       2.4                                 18.0
29.3               29.9                       0.6                                  3.3
14.6               15.9                       1.3                                  5.2
29.4               30.5                       1.1                                  7.2

(i) Core length.

Current and future drilling program

Drill No. 1 (current):

  • Sector 15-0-01 and 15-E-01 -- drilling the extension of these stopes at depth toward level 15 of the mine.

Drill No. 1 (planned):

  • Sector 6-H-14 -- drilling upper section of this stope toward surface to better define the current resource;
  • Sector 15-0-04 -- exploration drilling to assess the potential of this sector below the old stope 14-0-04;
  • Sector 6-H-12 up -- exploration drilling to increase the resource following the high grade obtained above the stope being developed.

Drill No. 2 (current):

  • Sector 8-H-06 -- drilling to assess the potential to the west below the stope 6-H-04 presently being mined.

Drill No. 2 (planned):

  • Sector 6-B-06 and 8-B06 -- exploration drilling to assess the potential in this sector of the B vein.

Drill No. 3 (current):

  • Sector 12-H-10 -- exploration drilling to increase the resource below stope 10-H-10 currently being developed; the company plans to drill below level 12 of the mine following the positive results obtained in this drill program; this sector is open at depth.

Metanor estimates that the mineralized intercepts' true thicknesses reach 60 per cent to 65 per cent of the drill cores. A capping of 31 grams per tonne was used, or one gold ounce. The company uses a rigorous, industry-standard, quality assurance/quality control 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 adopted by Metanor includes a minimum of 10 per cent of controlled assays being conducted, as well as verification by an independent ALS-certified assay laboratory in Val d'Or, Que. Results of the spot checks were consistent with those reported.

Qualified persons

Pascal Hamelin, PEng, vice-president of operations, is the qualified person under National Instrument 43-101, responsible for reviewing and approving the technical information contained in this news release.

We seek Safe Harbor.

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