VAL-D'OR, QUEBEC
-- (Marketwired)
-- 08/15/14
Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide this update on the ongoing underground drilling program at the Bachelor Mine.
Four drills are currently active underground which has resulted in over 5,500 meters of drilling per month in the last 4 months, of which an average of 1,600 meters per month was exploration drilling. Since the last drilling update released March 31st 2014, Metanor has drilled the "A" vein, Hewfran East, and the "B" vein and the results are summarized in the table below. Results from the forth drill, on level 14, are now being compiled.
The drill results in the "B" vein on level 10 confirm the expansion of the vein above level 10 up to level 8. The drilling in the "A" vein also confirmed the expansion of that vein between level 6 and 10. The drilling in the Hewfran zone allowed the discovery of a parallel vein south of the Hewfran East vein on level 8. Some results identified by a question mark cannot be linked to an existing vein, and are being interpreted by the geologists. All these new zones are being added to the original resource published in 2011. Because of the proximity of the "A" vein to our current infrastructure, the mining of this vein will start in the coming months.
The table below summarizes the significant intersections obtained for these sectors:
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Grade Au
Hole No From (m) To (m) Length (m) (g/T) Zone
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10-022 46.4 47.6 1.1 5.69 B vein
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10-026 28.0 29.1 1.0 10.55 B vein
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10-033 56.3 58.5 2.3 22.75 B vein
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10-034 7.6 7.9 0.3 10.2 ?
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10-034 49.6 51.0 1.4 7.9 B vein
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10-035 38.2 39.6 1.4 11.0 B vein
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10-039 45.7 50.2 4.4 4.19 B vein
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10-044 49.0 53.6 4.6 2.99 B vein
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10-045 49.5 51.0 1.5 7.96 B vein
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10-047 67.9 69.3 1.4 14.8 B vein
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10-048 22.3 24.8 2.5 4.44 ?
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10-048 31.7 34.5 2.8 7.91 A vein
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10-049 31.4 34.8 3.4 11.23 A vein
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10-050 17.6 19.5 1.8 4.88 A vein
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11-053 119.5 120.4 0.9 3.31 A vein
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11-053 130.4 131.1 0.7 2.45 A vein
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11-054 129.0 133.0 4.1 32.31 A vein
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11-054 146.9 147.3 0.5 8.54 ?
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11-056 126.2 129.2 3.0 7.57 A vein
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11-057 15.8 16.4 0.6 4.27 ?
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6A-35 171.5 172.5 1.0 6.1 A vein
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6A-36 164.7 166.5 1.8 10.1 A vein
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6A-37 90.2 93.2 3.0 7.2 A vein
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6A-40 164.5 170.3 5.8 7.6 A vein
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6A-41 155.3 159.0 3.7 9.5 A vein
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6A-42 169.4 171.7 2.3 12.0 A vein
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6A-44 144.0 145.7 1.7 5.4 A vein
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6A-46 174.8 181.1 6.4 12.0 A vein
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6A-46 193.9 197.6 3.7 4.8 A vein
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6A-47 150.6 150.9 0.3 3.8 A vein
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6A-48 171.4 172.6 1.2 27.8 A vein
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6A-49 150.1 155.7 5.6 6.5 A vein
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6A-50 147.1 149.0 1.9 9.7 A vein
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6A-51 148.6 149.4 0.8 10.1 A vein
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6A-52 150.7 153.5 2.8 2.0 A vein
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6A-53 148.6 150.3 1.7 3.78 A vein
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6A-53 152.6 154.7 2.1 19.43 A vein
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6A-54 149.3 153.3 4.0 4.5 A vein
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6A-55 156.7 159.0 2.3 8.7 A vein
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6A-56 192.0 192.4 0.3 24.68 A vein
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6A-57 151.3 153.1 1.8 14.42 A vein
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6A-57 157.6 159.1 1.5 8.21 A vein
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6A-58 147.5 153.1 5.6 7.2 A vein
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6A-60 172.9 175.3 2.4 7.4 A vein
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6A-62 169.8 171.0 1.2 5.9 A vein
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6A-63 167.9 171.7 3.8 9.66 A vein
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6A-69 208.2 212.6 4.4 7.03 A vein
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6A-69 221.0 222.9 2.0 7.94 A vein
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6A-70 209.3 216.2 6.9 4.89 A vein
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6A-72 199.8 205.1 5.3 5.98 A vein
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6A-75 96.2 97.4 1.3 5.17 ?
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6A-75 217.9 221.0 3.2 3.62 A vein
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6A-80 192.7 193.8 1.0 3.45 ?
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6A-80 215.0 222.6 7.6 5.31 A vein
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6A-83 208.7 210.1 1.4 4.61 ?
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6A-83 214.3 215.5 1.2 8.63 ?
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6A-83 220.4 226.7 6.3 8.84 A vein
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6A-79 220.9 227.1 6.2 4.99 A vein
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6A-79 157.6 159.1 1.5 8.21 A vein
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8-024 76.0 78.1 2.1 6.7 Hewfran East
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8-025 8.5 10.0 1.5 22.3 ?
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8-025 15.2 17.7 2.5 7.36 Hewfran South
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8-026 12.2 13.7 1.5 5.78 Hewfran South
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8-032 12.0 15.0 3.0 7.02 Hewfran South
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8-029 2.0 7.2 5.2 10.22 Hewfran South
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8-030 0.9 5.7 4.8 9.12 Hewfran South
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12-174 57.5 58.8 1.2 6.1 Zone E
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True core length.
The true width is between 60 and 80% of the core length obtained in diamond drill holes. The cap-off grade used in the analysis is 51.5 g/T or 1.5 oz Au. The samples were assayed by fire-assay at the Metanor assay lab. The quality control program of the assay results (QA QC) adopted by Metanor includes a minimum of 10% of controlled assays being conducted as well as verification by an independent external assay lab.
About Metanor
Metanor is a Canadian based gold mining company with a focus on adding value per share through efficient production, exploration, and development of it properties.
Qualified Person
Pascal Hamelin, P.Eng, 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.
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in forward-looking statements.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
296,557,733 outstanding shares
Contacts:
Ronald Perry
Vice-President
514-262-8286
rperry@metanor.ca
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