VAL D'OR, Quebec, July 18, 2018 (GLOBE NEWSWIRE) -- Metanor Resources Inc. (the “Company” or "Metanor")
(TSX-V:MTO) is pleased to announce drill results from the on-going underground drill campaign at the Moroy zone, including new
high-grade results of 5.7 g/t Au over 13.7 metres, 16.5 g/t Au over 2.6 metres and 6.0 g/t Au over 6.8 metres. These new results
establish both a high-grade component and add large volume to the western extent of the Moroy Zone. Highlights from new
drill holes include:
|
|
from 142.4 m. to 156.1 m. |
5.7 g/t Au over 13.7 m. |
| |
|
|
Intermediate volcanic host, locally brecciated, moderate
to strong pervasive hematite alteration, trace of pyrite.
|
| |
|
|
from 110.4 m. to 113.0 m. |
16.5 g/t Au over 2.6 m. |
| |
|
|
Intermediate volcanic host, strongly fractured, weak to
moderate pervasive hematite alteration, trace of pyrite.
|
| |
|
|
|
|
from 130.6 m. to 137.4 m. |
6.0 g/t Au over 6.8 m. |
| |
|
|
| Intermediate volcanic host, weak pervasive hematite
alteration, also in veinlets, and 1-2% disseminated pyrite |
Highlights of the last 8 drill holes that intersected gold mineralization are listed below:
|
Hole # |
From (m) |
To (m) |
Length (m) |
Au g/t |
|
MY18-071 |
|
|
|
Tr |
|
MY18-072 |
116.8 |
119.7 |
2.9 |
1.8 |
| & |
126.6 |
127.6 |
1.0 |
10.3 |
|
MY18-073 |
130.6 |
137.4 |
6.8 |
6.0 |
|
MY18-074 |
119.8 |
122.9 |
3.1 |
7.3 |
| & |
142.4 |
156.1 |
13.7 |
5.7 |
|
MY18-075 |
166.6 |
170.0 |
3.4 |
11.2 |
|
MY18-076 |
110.4 |
113.0 |
2.6 |
16.5 |
| & |
144.8 |
149.8 |
5.0 |
8.2 |
|
MY18-077 |
157.1 |
168.3 |
11.2 |
5.1 |
|
Including |
166.4 |
168.3 |
1.9 |
9.8 |
|
MY18-078 |
84.6 |
86.1 |
1.5 |
8.2 |
| & |
148.7 |
153.4 |
4.7 |
13.0 |
*Stated intervals are core lengths as drilled, true thicknesses vary and average between 65% to 80% of core
lengths.
Drillholes information:
|
Hole # |
UTM - East |
UTM - North |
UTM – Elev |
Length (m) |
Azimuth |
Dip |
|
MY18-071 |
417110 |
5482819 |
-128 |
550 |
191 |
14.5 |
|
MY18-072 |
417110 |
5482819 |
-128 |
560 |
181 |
21 |
|
MY18-073 |
417110 |
5482819 |
-128 |
600 |
178 |
25.5 |
|
MY18-074 |
417110 |
5482819 |
-128 |
560 |
172 |
22 |
|
MY18-075 |
417110 |
5482819 |
-128 |
600 |
164.5 |
25 |
|
MY18-076 |
417110 |
5482819 |
-128 |
550 |
164.5 |
21.5 |
|
MY18-077 |
417110 |
5482819 |
-128 |
620 |
157.5 |
25.5 |
|
MY18-078 |
417110 |
5482819 |
-128 |
560 |
157.5 |
21.5 |
Metanor continues to explore at the Moroy zone with 1 underground diamond drill rig completing 50 ft step outs.
The first part of the ore sill and haulage drift is now complete and the ore drift will be pushed eastward along strike.
Metanor has also completed two raises up to sub-level two. The consistent results out of the Moroy zone will add a valuable
component to the Bachelor Mine moving forward and will provide additional ore for daily gold production.
Quality Control and Reporting Protocols
Metanor estimates that the actual thicknesses of the mineralized intersections are between 65% and 80% of the
core lengths. No capping grade is used at this stage. The Company uses a rigorous QA-QC analytical program according to
industry standards. The analytical results were done by pyroanalysis (A.A.) at the mine laboratory. Blanks, duplicates and
certified reference standards are inserted into the sample stream to monitor laboratory performance. The company’s QA-QC
analytical verification program requires that a minimum of 5% of the samples be audited at an independent laboratory. These audit
assays were sent to ALS laboratory located in Val-d'Or, Quebec. The results of the audits are consistent with those obtained.
About the Bachelor Mine
The Bachelor Mine produces gold from a mineralized sub-vertical narrow vein system. The Moroy zone is a
south-parallel system to the Bachelor mine. New development and drill programs are currently being conducted on the Moroy zone.
Mine methods used are long-hole mining with rail-track access from a vertical shaft, and the new sub-level sector 14 is accessible
from a ramp system. The ore is processed on site at the Bachelor processing plant using the activated carbon process. The mill is
on site and accessible by a paved road.
Qualified Persons
Pascal Hamelin, P. Eng., President and COO, is the Qualified Person under NI 43-101, who is 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 as "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.
For more information, please contact:
Pascal Hamelin, President & COO
Telephone: 819-825-8678
email: phamelin@metanor.ca
2872, Sullivan Rd, suite 2
Val-d'Or, QC J9P 0B9
Maps associated with this press release are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/8b6f691b-ae3f-491f-aec6-08adda4bc62b
http://www.globenewswire.com/NewsRoom/AttachmentNg/3bd23143-7712-4092-8720-f159aea24c7b
