03:02:12 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Metanor Resources Inc (2)
Symbol MTO
Shares Issued 79,617,654
Close 2017-10-13 C$ 0.75
Market Cap C$ 59,713,241
Recent Sedar Documents

Metanor Resources drills 3 m of 27.8 g/t Au at Barry

2017-10-16 08:26 ET - News Release

Mr. Pascal Hamelin reports

METANOR EXTENDS EXISTING SHEAR ZONE DOWN TO 400 METRES TO THE EAST, 27.8 G/T AU OVER 3 METRES AT BARRY

Metanor Resources Inc. has released drill results from its continuing surface drilling program at the Barry project. Pursuant to the results released Aug. 28, 2017 (see press release available at SEDAR), an additional 24 holes have been drilled for a total of 11,163 metres.

The reduced spacing between the latest drill holes has enabled the differentiation of many gold-bearing shear zones in the area east of the pits. Each of these new holes has crossed shear zones. The direction of these gold-bearing shears is parallel to the axis of elongation of the pits, and two inclinations are identified: the first one being at 45 to 55 degrees which is parallel to the inclination of the felsic intrusion known on the surface and the other shears show an inclination between 75 degrees and 85 degrees to the south. The gold zones remain open in all directions.

The analytical results of 12 drilling intercepts have been received and are presented in the table.

                                   BARRY DRILL RESULTS
 
Hole                 From (m)            To (m)        Length (m)    Grade Au (g/t)

MB-17-100              147.3             148.8               1.5               2.7
MB-17-101              122.0             124.0               2.0               5.9
                       137.0             138.0               1.0               4.4
                       231.0             234.0               3.0               2.0
MB-17-102              199.0             203.0               4.0               8.4
                       358.0             360.0               2.0               5.5
MB-17-103              178.0             178.7               0.7              35.1
                       302.5             303.5               1.0               3.9
                       334.1             336.0               1.9               3.4
MB-17-104              138.8             140.3               1.5               6.2
                       208.8             209.3               0.5               8.2
MB-17-105              134.2             135.8               1.6               3.9
                       139.2             141.6               2.4               6.0
                       413.0             416.0               3.0               5.1
MB-17-106              196.0             197.0               1.0               5.2
                       233.0             235.0               2.0               7.0
MB-17-107              172.0             175.0               3.0               3.5
MB-17-108              193.0             198.0               5.0               5.9
                       512.0             515.0               3.0               4.1
MB-17-109              117.0             123.0               6.0               5.3
MB-17-110              166.7             168.2               1.5               6.7
                       208.2             214.6               6.4               3.1
                       238.7             239.4               0.7              15.7
                       243.1             243.6               0.5              30.5
                       495.0             498.6               3.6               2.6
MB-17-111              305.7             308.7               3.0              27.8

The drill program continues to the west and at depth under the pits area with two drills. Recently, a third rig began drilling approximately 1.0 kilometre northeast of the mining lease to follow up on a geophysical aerial survey completed during the summer 2017 indicating large anomalies on the east side of the Urban-Barry camp.

Quality control and reporting protocols

Metanor estimates that the actual thicknesses of the mineralized intersections are between 70 and 95 per cent of the core lengths. No capping grade is used at this stage. The company uses a rigorous quality assurance/quality control 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 Goldminds QA/QC analytical verification program requires that a minimum of 5 per cent of the samples be audited at the independent ALS laboratory located in Val d'Or, Que. The results of the audits are consistent with those obtained.

About the Barry project

The Barry project is located in the Urban-Barry mining camp, 110 km east from the city of Lebel-sur-Quevillon. Six hundred twenty-four thousand four hundred fourteen tonnes of ore grading 2.2 grams per tonne for 43,970 ounces were extracted from three small pits between 2008 and 2010. A drill campaign is under way at the Barry property to increase mineral resources below the pits in high-grade shear zones and, eventually, proceed with an underground bulk sample, before completing 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.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.