Mr. Pascal Hamelin reports
METANOR DRILLS NEW HIGH GRADE ZONES AT BARRY PROJECT
Metanor Resources Inc. is providing an update on its continuing surface drilling program at the Barry project in the Urban-Barry camp. Several new gold-bearing shear zones have been identified below and outside of the Barry pit area as highlighted by drill hole MB-17-76 which intersected 9.9 grams per tonne over four metres at over 200 m below the Barry pit. Two primary gold-bearing settings are the focus of this program being subvertical high-grade shear/vein systems and broader mineralized felsic intrusive contact zones near surface. The current program has attained its two main objectives of outlining new high-grade gold-bearing shear zones and in increasing pit resources near surface.
A new shear structure named South zone is located 75 m south of the pit and shows continuity over 300 m along strike and 250 m vertically. A minimum of five parallel shear zones have been identified so far and remain open along strike and to depth. Highlights of the drill intercepts in the quartz veins associated with the shear zones include:
- MB-17-70: 5.1 g/t Au over 8.0 m, from 296.9 m to 304.9 m;
- MB-17-72: 9.7 g/t Au over 4.0 m, from 135.3 m to 139.3 m;
- MB-17-74: 5.3 g/t Au over 8.0 m, from 344.0 m to 352.0 m;
- MB-17-76: 9.9 g/t Au over 4.0 m, from 365.0 m to 369.0 m.
The high-grade gold-bearing zones are associated with quartz-pyrite veins in narrow shear structures. These shear zones generally host high gold grades in narrow (one to five m) widths as compared with the broadly mineralized lower-grade zones that were mined in the past by open-pit methods. These shear zones were recognized this year as having substantial potential to add new resources outside of the proposed pit as described in the preliminary economic assessment published in September, 2016. The next portion of the company's drill campaign at the Barry project will focus on identifying and defining more high-grade shear zones in and around the Barry pit area.
Drilling results also identified the extension of a gold-bearing zone of over 250 m in length near surface and southwest of the proposed preliminary economic assessment pit design. This gold-bearing zone is located at and near the contact of a mineralized felsic intrusive with mafic volcanic rocks. The associated mineralized zone generally consists of a combination of assays varying between 0.5 and 30.0 g/t over broader widths. Highlights of the near-surface intrusive contact are as follows:
- MB-17-49: 11.5 g/t Au (9.0 cut) over 4.0 m, from 171.6 m to 175.6 m;
- MB-17-50: 2.7 g/t Au over 9.5 m, from 139.0 m to 148.5 m;
- MB-17-51: 2.5 g/t Au over 14.5 m, from 109.5 m to 123.5 m;
- MB-17-61: 4.0 g/t Au over 15.1 m, from 26.3 m to 41.4 m.
Two drill rigs are currently operating around the Barry project while a third drill begins this week in the Moss area located halfway between the Barry project, and the Windfall deposit belonging to Osisko Mining. Since the beginning of the year, a total of 41 holes have been drilled at the Barry project. During the month of May, the company increased the Barry camp in size to accommodate for three drill rigs. Also in May, the company began the permitting process for the construction of a larger permanent camp to accommodate a larger work force to further increase the number of drill rigs, and afterward begin the construction phase of the underground and/or pit project.
The table presents the details of the drill intercepts.
BARRY DRILL RESULTS
Hole From (m) To (m) Length (m) Grade Au (g/t)
MB-17-42 (ext.) 444.6 446.6 2.0 4.5
464.5 465.8 1.3 2.5
MB-17-44 52.4 53.3 0.9 7.9
61.4 62.2 0.85 9.2
MB-17-45 40.6 41.2 0.6 3.0
192.8 193.3 0.5 3.1
MB-17-46 68.5 69.5 1.0 2.7
204.3 207.3 3.0 1.9
MB-17-47 93.0 94.0 1.0 4.2
169.6 172.3 2.7 4.4
MB-17-48 72.3 73.0 0.7 6.7
112.3 118.4 6.1 1.7
MB-17-49 71.7 72.5 0.8 3.6
114.0 114.8 0.8 5.2
144.0 145.0 1.0 8.0
171.6 175.6 4.0 11.5 (9.0 cut)
MB-17-50 53.1 62.5 9.4 2.1
139.0 148.5 9.5 2.7
MB-17-51 109.0 123.5 14.5 2.5
MB-17-53 48.6 49.6 1.0 3.0
66.9 67.6 0.7 3.9
69.6 70.5 0.9 3.4
MB-17-54 44.9 47.2 2.3 2.2
MB-17-59 233.7 234.7 1.0 4.3
252.5 256.1 3.6 1.4
260.0 261.2 1.2 7.6
329.9 332.7 2.8 3.5
MB-17-60 296.0 302.4 6.4 2.0
522.6 524.7 2.1 6.4
MB-17-61 26.3 41.4 15.1 4.0
93.3 96.3 3.0 3.7
MB-17-62 11.7 12.4 0.7 5.0
51.0 53.6 2.6 1.9
102.2 102.7 0.5 4.9
MB-17-63 16.3 25.7 9.0 1.0
MB-17-64 63.8 65.3 1.5 5.6
MB-17-65 32.1 35.0 2.9 1.4
96.7 98.7 1.0 2.5
MB-17-67 32.0 38.0 6.0 2.2
MB-17-69 35.0 35.9 0.9 2.8
MB-17-70 222.0 223.0 1.0 2.5
233.0 237.0 4.0 2.7
291.0 304.9 13.9 3.3
MB-17-71 64.3 67.0 2.7 1.3
85.3 86.7 1.4 4.6
122.7 125.6 2.9 2.1
140.7 141.7 1.0 31.8
151.8 153.2 1.4 2.8
MB-17-72 65.5 66.3 0.8 3.2
90.4 91.1 0.7 2.6
102.0 103.9 1.9 3.8
135.3 139.3 4.0 9.7 (8.7 cut)
186.0 186.7 0.7 18.0
MB-17-73 156.0 158.3 2.3 2.1
182.4 185.0 2.6 4.9
MB-17-74 310.8 312.2 1.4 2.8
344.0 352.0 8.0 5.3 (4.8 cut)
MB-17-75 150.6 153.1 2.5 1.8
165.0 167.0 2.0 3.4
355.3 357.8 2.5 5.1
MB-17-76 239.0 241.0 2.0 2.8
365.0 369.0 4.0 9.9
429.0 430.0 1.0 4.4
MB-17-77 471.5 473.0 1.5 6.7
526.8 528.6 1.8 2.7
>582.0 Assays pending
MB-17-78 47.5 48.5 1.0 3.9
169.0 174.0 5.0 3.0
205.0 205.5 0.5 3.0
350.0 354.0 4.0 2.5
415.9 418.1 2.2 5.4
* Core length.
Quality control and reporting protocols
Metanor estimates that the mineralized intercepts true thicknesses are 70 per cent to 85 per cent of the drill core intercepts reported. Grades were capped at 31 g/t. Metanor employs 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 (QA/QC) 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.
About the Barry project
The Barry project is located in the Urban-Barry mining camp, 110 kilometres east from the city of Lebel-sur-Quevillon. Six hundred twenty-four thousand four hundred fourteen tonnes of ore grading 2.2 g/t for 43,970 ounces were extracted from three pits between 2008 and 2010. A positive preliminary economic assessment was published in 2016 demonstrating the economic potential of the open-pit mine extracting gold. A drill campaign is under way on the Barry property to increase mineral resources and eventually proceed with a prefeasibility study.
Qualified persons
Pascal Hamelin, PEng, president and chief operating officer, is the qualified person under National Instrument 43-101, responsible for reviewing and approving the technical information contained in this news release.
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