VAL-D'OR, QUEBEC--(Marketwired - March 31, 2014) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide this update on the ongoing underground drilling program at Bachelor Mine.
Four diamond drills are presently operating underground with over 2,500 metres drilled per month. On March 13th, the company issued the results from the drill located on level 14. Today, Metanor releases the results from the other three drills located on levels 5, 8, and 12. The results from the exploration drilling on level 5 confirms the extension of the «A» vein north of the shaft between levels 5 and 6 where the vein was identified from the drift development on these levels.
The drillings completed on levels 8 and 12 allow better definition and increase the resources in the Hewfran East and Main zones for production in the coming months.
The table below summarizes the significant intersections obtained in the last few weeks for these sectors:
| Hole No |
From (m) |
To (m) |
Length (m) |
Grade Au (g/T) |
Zone |
| 5A-63 |
81.7 |
84.6 |
2.9 |
4.3 |
A |
| 5A-69 |
63.7 |
65.4 |
1.7 |
4.2 |
A |
| 5A-70 |
69.2 |
72.5 |
3.4 |
5.0 |
A |
| 5A-72 |
64.9 |
67.9 |
3.0 |
4.4 |
A |
| 5A-73 |
67.9 |
78.0 |
10.1 |
9.5 |
A |
| 5A-74 |
76.8 |
79.3 |
2.5 |
5.7 |
A |
| 5A-75 |
72.0 |
81.3 |
9.4 |
4.1 |
A |
| 5A-76 |
85.0 |
89.6 |
4.6 |
17.3 |
A |
| 5A-78 |
92.2 |
99.2 |
7.0 |
8.9 |
A |
| 8-001 |
56.4 |
60.0 |
3.6 |
7.2 |
Hewfran East |
| 8-002 |
57.9 |
60.0 |
2.1 |
5.6 |
Hewfran East |
| 8-003 |
63.3 |
65.0 |
1.7 |
16.4 |
Hewfran East |
| 8-004 |
72.1 |
75.1 |
3.0 |
13.1 |
Hewfran East |
| 8-005 |
64.7 |
66.8 |
2.1 |
9.7 |
Hewfran East |
| 8-006 |
63.0 |
65.2 |
2.2 |
10.0 |
Hewfran East |
| 8-007 |
76.2 |
78.4 |
2.2 |
4.3 |
Hewfran East |
| 8-008 |
59.8 |
60.8 |
1.0 |
11.1 |
Hewfran East |
| 12-211 |
28.5 |
36.2 |
7.7 |
8.9 |
Main |
| 12-213 |
29.8 |
34.8 |
5.0 |
16.3 |
Main |
|
53.4 |
55.4 |
2.0 |
5.4 |
? |
| 12-215 |
28.5 |
30.0 |
1.5 |
6.4 |
? |
|
51.5 |
54.4 |
2.9 |
11.3 |
Main |
| 12-216 |
50.1 |
54.5 |
4.4 |
8.1 |
Main |
| 12-218 |
33.1 |
35.8 |
2.7 |
11.8 |
Main |
| 12-219 |
28.4 |
32.4 |
4.0 |
12.2 |
Main |
| 12-221 |
23.5 |
26.0 |
2.5 |
16.7 |
Main |
| 12-223 |
28.0 |
29.2 |
1.2 |
4.8 |
Main |
| 12-224 |
19.3 |
21.5 |
2.2 |
5.3 |
Main |
| 12-225 |
28.0 |
28.8 |
0.8 |
5.9 |
Main |
| 12-227 |
15.8 |
18.8 |
3.0 |
15.8 |
Main |
True core length.
The true width is between 50 and 80% of the core length obtained in diamond drill holes. The cut-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.
267,266,066 outstanding shares