VAL-D'OR, Quebec, June 14, 2018 (GLOBE NEWSWIRE) -- Metanor Resources Inc. (the “Company” or "Metanor") (TSX-V: MTO) is pleased to announce drill results from the on-going drill campaign at Barry, including new high-grade results of 15.7 g/t Au over 2.4 metres, 14.6 g/t Au over 1.8 metres, 12.2 g/t Au over 2.7 metres and 14.2 g/t Au over 1.2 metres. These new drill holes were designed to infill the South-Eastern portion at depth and to test the felsic intrusive on the western extent of the deposit. Current drilling has demonstrated the continuity and predictability of its shear-hosted gold deposit for over 1.1 km in strike length.
Highlights from new drillholes include:
|MB-18-185||from||113.5 m. to 125.6 m.||5.0 g/t Au over 12.1 m|
|Including||113.5 m. to 115.9 m.||15.7 g/t Au over 2.4 m.|
|Including||120.6 m. to 122.0 m.||13.3 g/t Au over 1.4 m|
|Sheared basalt zones with silica-sericite-biotite alteration, quartz stockwork, 2% pyrite and 6% pyrrhotite.|
|MB-18-184||from||330.6 m. to 332.4 m.||14.6 g/t Au over 1.8 m.|
|Massive basalt with quartz-carbonate stringers, chlorite-carbonate-biotite alteration and 1% pyrite.|
|MB-18-176||from||387.0 m. to 389.7 m.||12.2 g/t Au over 2.7 m.|
|Quartz feldspar porphyry host in contact with basalt displaying chlorite-sericite alteration, 1% pyrite and visible gold grains.|
|MB-18-167||from||323.1 m. to 324.2 m.||14.2 g/t Au over 1.1 m.|
|Basalt host proximal to contact with felsic porphyry with breccia textures, numerous quartz-carbonate veinlets and 1% pyrite.|
|MB-18-173||from||376.2 m. to 380.2 m.||5.7 g/t Au over 4.0 m.|
|Including||376.2 m. to 377.4 m.||14.2 g/t Au over 1.2 m.|
|Fine-grained basalt with small visible shears, quartz-carbonate veinlets and 1% pyrite.|
|MB-18-175||from||476.2 m. to 478.0 m.||7.5 g/t Au over 1.8 m.|
|Intermediate basalt host with tuffaceous textures, sericite-silica alteration, multiple visible shears with quartz-carbonate veinlets and 1% pyrite.|
Highlights of the last 24 drill holes that intersected multiple shears include:
|Hole #||From (m)||To (m)||Length (m)||Grade Au (g/t)|
|*Stated lengths are core width as drilled, true widths vary and average between 70 and 95 percent of drilled widths.|
|Hole #||Azimuth||Dip (º)||Length (m)||UTM East||UTM North||Elevation (m)|
The development of the Barry ramp is progressing on schedule with approximately 130 metres of ramp advancement to date. The ramp will provide access to both underground drill bays and extraction of the bulk sample program in Q4 2018.
Quality Control and Reporting Protocols
Metanor estimates that the actual thicknesses of the mineralized intersections are between 70% and 95% 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 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.
The Barry Project
The Barry project is located in the Urban-Barry camp, 110 km east from the city of Lebel-sur-Quévillon, and 110 km south of the Bachelor mill. 624,414 tonnes of ore grading 2.2 g/t Au for 43,970 ounces were extracted from three small pits between 2008 and 2010. A drilling campaign is underway at the Barry property to increase mineral resources below the pits in multiple high-grade shear zones and to proceed with an underground bulk sample program. The gold mineralization at the Barry project is structurally controlled and is hosted in a sheared basalt containing quartz-carbonate-albite veins with pyrite. Metanor has identified three main sub-vertical shear zones and approximately ten secondary lower dipping tension veins. These structures are open in all directions.
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
2872, Sullivan Rd, suite 2
Val-d'Or, QC J9P 0B9
A map accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b8a761cf-0de3-45dd-9c48-3716f697f535