VAL-D'OR, QUEBEC--(Marketwired - Mar 8, 2017) -
Editors note - There is a map associated with this release.
Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide an update on its ongoing surface drilling program
at the Barry project in the Urban-Barry camp. Sixteen holes have been drilled so far this year, totalling 2,730 meters, towards
the south-east and south-west of the Barry pit.
Highlights:
- The drill holes MB-17-42 and MB-17-43 identified the mineralized sub-vertical shear structure.
- The holes MB-17-29 to MB-17-38 drilled south-east of the pit allowed for the increase in size of the mineral envelope to
the west associated to the pit.
Many narrow shear structures with gold mineralization, were encountered by the two drill holes MB-17-42 and MB-17-43.The
discovery of higher grade mineralization (3.1 to 13.6 g/t over thickness near 2 meters) associated with the shear structures,
provides the opportunity to define and extend narrow panels which may lead to a more selective mining method.
The eleven holes drilled to the south-east allowed for the expansion of the west zone in all directions, and the limits have
not been determined by the recent drilling. The gold bearing sector is located on the hanging wall of a felsic intrusive.
Elsewhere in the deposit, the gold presence is largely associated with the intrusive. This relation is also mentioned in the
Windfall deposit located 12 km to north-east.
The three holes MB-17-39, 40, and 41 were drilled along the mineralized zone with the objective to confirm the continuity and
distribution of the gold structure, and to collect sufficient core material for metallurgical testing of this new zone. The drill
holes followed the gold structure, and only a few segments of intrusive rock interrupted the gold grade.
The two holes MB-17-37 and 38 were drilled to extend the mineralized zone at depth beneath the central pit. The table below
presents the details of the drill intercepts. The plan presents the location of the drill holes.
| Hole N° |
from (m) |
to (m) |
length (m)* |
Grade Au (g/t) |
| MB-16-25 |
282.4 |
288.9 |
6.5 |
1.6 |
| MB-17-29 |
34.8 |
69.9 |
35.1 |
1.0 |
| including |
34.8 |
41.5 |
6.7 |
2.3 |
| including |
51.7 |
53.3 |
1.6 |
5.1 |
| including |
66.6 |
69.9 |
3.3 |
1.5 |
| MB-17-30 |
64.4 |
67.0 |
2.6 |
1.9 |
|
126.5 |
130.8 |
4.3 |
2.2 |
|
174.1 |
178.5 |
4.4 |
3.3 |
| MB-17-31 |
53.7 |
62.5 |
8.8 |
1.3 |
| MB-17-32 |
17.6 |
20.7 |
3.1 |
2.0 |
|
170.1 |
176.7 |
6.6 |
2.5 |
| MB-17-33 |
13.7 |
14.7 |
1.0 |
1.4 |
| MB-17-34 |
55.2 |
57.2 |
2.0 |
0.7 |
| MB-17-35 |
141.7 |
180.0 |
38.3 |
1.2 |
| including |
149.0 |
157.0 |
8.0 |
3.6 |
| including |
149.0 |
153.0 |
4.0 |
5.4 |
| including |
160.0 |
164.4 |
4.4 |
1.6 |
|
234.5 |
236.5 |
2.0 |
2.5 |
| MB-17-36 |
56.0 |
64.0 |
8.0 |
0.9 |
| including |
61.7 |
64.0 |
2.3 |
2.6 |
|
84.2 |
97.4 |
13.2 |
1.6 |
| including |
92.7 |
97.4 |
4.7 |
3.8 |
|
130.7 |
132.5 |
1.8 |
2.4 |
| MB-17-37 |
49.3 |
50.8 |
1.5 |
2.5 |
|
140.3 |
143.3 |
3.0 |
6.4 |
|
184.2 |
188.2 |
4.0 |
3.3 |
|
195.3 |
195.8 |
0.5 |
11.2 |
| MB-17-38 |
132.7 |
134.9 |
2.2 |
6.5 |
|
147.2 |
164.0 |
16.8 |
1.0 |
|
195.9 |
196.6 |
0.7 |
4.9 |
|
224.8 |
232.2 |
7.4 |
3.0 |
| including |
230.1 |
232.2 |
2.1 |
9.4 |
|
339.4 |
341.0 |
1.6 |
2.0 |
| MB-17-39 |
3.0 |
76.2 |
73.2 |
1.1 |
| MB-17-40 |
8.0 |
8.5 |
0.5 |
11.6 |
|
29.7 |
38.7 |
9.0 |
3.6 |
| MB-17-41 |
3.7 |
118.3 |
114.6 |
1.6 |
| including |
22.9 |
23.9 |
1.0 |
2.4 |
| including |
33.3 |
75.0 |
41.8 |
2.8 |
| including |
33.3 |
49.3 |
16.2 |
4.9 |
| including |
69.7 |
75.0 |
5.3 |
4.4 |
| including |
83.9 |
86.1 |
2.2 |
4.5 |
| including |
97.1 |
99.6 |
2.5 |
9.8 |
| including |
108.2 |
111.0 |
2.9 |
3.7 |
| MB-17-42 |
75.8 |
76.3 |
0.5 |
3.8 |
|
104.9 |
106.6 |
1.7 |
5.4 |
|
116.8 |
118.7 |
1.9 |
6.9 |
| MB-17-43 |
11.1 |
13.9 |
2.8 |
5.1 |
|
59.2 |
117.0 |
57.8 |
0.7 |
| including |
66.3 |
70.5 |
4.2 |
3.1 |
| including |
116.0 |
117.0 |
1.0 |
13.6 |
Other than holes MB-17-39, 40, and 41 that were drilled along the vein, the mineralized intercepts true thicknesses are 75% to
90% of the drill core intercepts reported. No assays were capped because none were above 30 g/t.
The drill campaign continues under the supervision of M. Claude Gobeil, exploration manager of Metanor at the Barry project
with the collaboration of GoldMind Geoservices Inc.
Quality Control and Reporting Protocols
Metanor employs 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.
About The Barry Project
The Barry project is located in the Urban-Barry mining camp, 110 km east from the city of Lebel-sur-Quévillon. 624,414 tonnes
of ore grading 2.2 g/t for 43,970 ounces were extracted 3 pits between 2008 and 2010. A positive preliminary economic assessment
was published in 2016 demonstrating the economic potential of the open pit mine extracting gold. A drill campaign is underway on
the Barry property to increase mineral resources, and eventually proceed with a prefeasibility study.
Qualified Persons
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.
Claude Duplessis, Ing., of Goldminds Geoservices Inc., is the independent qualified person under NI 43-101 who has prepared
and reviewed the technical information contained in this release.
Cautionary and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements".
The potential quantity and grade is conceptual in nature as there has been insufficient exploration to define a mineral resource
and it is uncertain if further exploration will result in the target being delineated as a mineral resource. 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.
To view the map associated with this release, please visit the following link: http://file.marketwire.com/release/barry.jpg