VAL-D'OR, QUEBEC, CANADA--(Marketwire - Nov. 16,2011) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased toprovide another update of its activities at the Bachelor Lake Project.
Based on the encouraging results obtained to date onthe Hewfran/Bachelor Project, Metanor Resource has extended its drillingcampaign in the Hewfran West. Since its last press release (ref. press releasedisclosed on October 13th 2011), an additional 1,300 meters ofdrilling was completed from surface in the Hewfran West sector. These additionalholes were adjacent to those holes mentioned in the previous press release.Metanor obtained the results of three (3) additional completed drill holes,which are as follows:
The drilling still targeted mainly the Hewfran AWest zone between 100 and 330 meters below the surface which is located 850meters west from the Bachelor Lake mine shaft. This structure already containsresources (indicated and inferred; ref.: Technical Report NI 43-101 Stantec,Feb. 2011) and is accessible from a drift located on level 6 at Bachelor LakeMine. The holes all intersected their target and the alteration type andmineralization associated to the presence of gold were observed at differentdegrees in all the drill holes completed as of now, and over a lateral distanceof 150 meters. The structure is open in all directions (at depth and laterally).The next focus of the campaign is to verify the extension going west of thatzone. Based on the results to date, Metanor is very confident to increase theresources in this sector.
Metanor Resources is actively continuing itsdrilling program from surface and intend to extend its exploration program onthe Hewfran East sector once the drilling is completed on the Hewfran-Westsector. The Hewfran-East sector is located between Bachelor and the Hewfran-Westsector. Moreover, in the coming days, Metanor will begin the undergrounddrilling of the Main and B veins from level 15 at the Bachelor Lake Mine.
The true width is approximately 90% of the corelength obtained in diamond drill holes. The samples were assayed by fire-assayat the Metanor assay lab. With the quality control program of the assay results(QA QC) adopted by Metanor, a minimum of 10% of controlled assays beingconducted as well as verification by an independent external assay lab.
About Metanor
Metanor is a Canadian based gold mining company witha focus on adding value per share through efficient exploration, and developmentof it properties. Maintaining a low risk profile through a strong operatingteam, sound financial management, and operating in secure jurisdictions likeQuebec are key priorities for Metanor's management team.
Qualified Person
Pascal Hamelin, P.Eng, Vice-president and GeneralManager of Operations, is the Qualified Person under NI 43-101 responsible forreviewing and approving the technical information contained in this newsrelease.
Cautionary Language and Forward-LookingStatements
This press release includes certain statements thatmay be deemed "forward-looking statements". All statements in this discussion,other than statements of historical facts, that address future explorationdrilling, exploration activities, anticipated metal production, internal rate ofreturn, estimated ore grades, commencement of production estimates and projectedexploration and capital expenditures (including costs and other estimates uponwhich such projections are based) and events or developments that the Companyexpects, are forward looking statements. Although the Company believes theexpectations expressed in such forward looking statements are based onreasonable assumptions, such statements are not guarantees of futureperformance, and actual results or developments may differ materially from thosein forward-looking statements. Factors that could cause actual results to differmaterially from those in forward-looking statements include, metal prices,exploration successes, continued availability of capital and financing, andgeneral economic, market or business conditions. Accordingly, readers should notplace undue reliance on forward-looking statements.
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