VAL-D'OR, QUÉBEC--(Marketwired - April 20, 2016) - Editors Note: There is a map associated with this Press Release.
Metanor Resources Inc. (« Metanor ») (TSX VENTURE:MTO) is pleased to announce the drilling results for the new zone on the Moroy property located 1 km from the Bachelor mill.
The drilling from the last few weeks allowed to define the extension of the gold structure from surface down to 650 m deep; the structure was intercepted by drill holes at depth of 50, 100, 400, 600, and 650 meters, see section below.
These first 3,800 meters of the drill campaign also allowed the confirmation of a sub-vertical structure ranging between 1 and 5 meters. Moreover, the drill campaign in 2015 confirmed the presence of a gold structure 570 m long east to west.
| Hole No. |
from (m) |
to (m) |
length
(m)* |
grade
Au (g/t) |
| MO-16-103b |
332.0 |
332.9 |
0.8 |
2.1 |
| MO-16-103b |
429.4 |
429.8 |
0.4 |
3.4 |
| MO-16-103b |
527.1 |
527.4 |
0.3 |
12.6 |
| MO-16-103b |
544.3 |
545.9 |
1.6 |
6.9 |
| MO-16-103b |
554.0 |
556.4 |
2.4 |
2.5 |
| MO-16-106 |
44.6 |
47.5 |
2.9 |
2.6 |
| MO-16-107 |
29.6 |
33.0 |
3.4 |
3.7 |
| MO-16-108 |
39.4 |
42.7 |
3.3 |
1.2 |
| MO-16-114 |
25.5 |
27.1 |
1.6 |
5.3 |
| MO-16-116 |
103.7 |
106.8 |
3.1 |
2.8 |
| MO-16-117 |
35.6 |
37.8 |
2.2 |
6.9 |
| MO-16-119 |
85.3 |
87.6 |
2.2 |
0.2 |
| MO-16-121 |
71.3 |
72.9 |
1.6 |
0.6 |
| MO-16-122 |
32.1 |
33.6 |
1.5 |
2.4 |
| MO-16-124 |
17.0 |
19.0 |
2.1 |
3.8 |
| MO-16-130 |
606.9 |
608.0 |
1.1 |
2.7 |
| MO-16-131 |
444.5 |
447.0 |
2.5 |
5.5 |
| MO-16-133 |
10.7 |
12.0 |
1.3 |
9.1 |
| MO-16-135 |
8.3 |
14.8 |
6.6 |
3.8 |
| including |
9.1 |
10.6 |
1.5 |
12.2 |
| MO-16-136 |
30.5 |
31.3 |
0.8 |
5.2 |
| MO-16-138 |
28.0 |
28.3 |
0.3 |
2.8 |
| MO-16-139 |
8.3 |
14.8 |
6.6 |
1.8 |
| including |
9.1 |
10.6 |
1.5 |
9.2 |
| MO-16-139 |
73.6 |
75.1 |
1.5 |
2.0 |
| MO-16-140 |
84.0 |
87.4 |
3.4 |
6.7 |
| MO-16-141 |
117.6 |
118.1 |
0.6 |
2.2 |
| MO-16-141 |
160.2 |
160.8 |
0.6 |
2.7 |
| MO-16-144 |
57.8 |
58.4 |
0.6 |
3.7 |
| MO-16-144 |
79.6 |
80.5 |
0.9 |
5.2 |
| MO-16-144 |
160.9 |
161.5 |
0.6 |
2.2 |
*Core length
Meanwhile, the 2016 drilling campaign expected to total 60,000 meters is progressing. A first drill is focusing on the zones near surface, from 0 to 150 m deep, at a drill spacing of 25 m between each hole so mineral resources may be defined at the end of the campaign. A second drill rig will target the same structure at depths ranging between 150 and 300 m and a third drill rig, expected to begin in May, will aim to define the lateral extensions to the east and to the west.
Metanor estimates that the mineralized intercepts' true thicknesses reach 70 to 95% of the drill cores. A capping of 31 g/t was used or 1 Au ounce. The Company uses a rigorous, industry-standard, QA/QC program. The samples were assayed by fire-assay at the Metanor assay lab. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. 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 ALS-certified assay laboratory in Val-d'Or, Québec. Results of the spot checks were consistent with those reported.
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 and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than those of historical fact, that address future exploration drilling, exploration activities and projected exploration, including costs and other estimates upon which such projections are based, and events or developments that the company expects, are considered forward-looking statements. Although the Company believes the expectations expressed in these 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 forward-looking statements.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
429,961,649 outstanding shares.
To view the maps associated with this press release, please visit the following link: http://file.marketwire.com/release/1051364e.pdf