Metanor Resources (
TSX: V.MTO,
Forum) celebrated today as the company released more results related to the targeting of a large anomaly recently discovered during its on-going drill program at its Bachelor Lake property located in Le Sueur Township, approximately 225 kilometres northeast of Val d’Or, Quebec, Canada.
According to the news release, a surface drill located 925 metres south of the Bachelor Mine intersected 10.1 g/t gold over 26.2 metres of drill cores assayed from hole MO-15-14. Over the next week, the second rig will continue to drill around this hole with a series of short holes to better define the azimuth and dip of the vein and to verify its dimension. True width cannot be determined at this time.
This drill campaign is a follow-up on holes drilled in 2013 and a geophysical survey carried out in fall 2014 in the region surrounding the Bachelor Mine.
Trading was halted yesterday by the IIROC in anticipation of this news and was resumed four hours agoa when the company released its results.
Metanor Resources was in the news recently when
the Quebec-based miner announced another intersection of 7.2 g/t gold over 8.1 metres at Bachelor Mine a week ago.
Shares jumped 33.33% on the news to $0.06 per share.
Currently there are 357.0m outstanding shares with a market cap of $21.4 million.