Metanor Resources Inc.
TSX VENTURE : MTO

Metanor Resources Inc.

September 06, 2016 10:51 ET

Metanor Discovers New Gold Structures on its Moroy Property

VAL-D'OR, QUEBEC--(Marketwired - Sept. 6, 2016) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide the results of its exploration drilling program recently completed on the Moroy property, located 1 km from the Bachelor mill.

The drilling program aimed to test: i) the lateral and vertical extensions of the «South zone», ii) the continuity of a second structure intersected at depth by the hole MO-16-181, and located approximately 100 meters to the south, and iii) the east contact of the O'Brien intrusive. This program allowed the discovery of a second structure, the continuity to the west of the «181 Structure or Extreme south» and, at least two corridors altered with gold mineralization, were intersected by the drilling program. The only drill hole, MO-16-211, targeting the East contact of the O'Brien intrusive intersected 3.55 g/t Au over 3.66 meters in the lateral extension of historical intersects. The diagram below shows the different structures in relation to the O'Brien intrusive. The 3D modeling aiming to confirm the shape of the different zones, to identify the structural controls and to locate the higher grade enrichment is underway.

The details of the intersections obtained from the drill holes completed in the past weeks are described in the table below:

Hole N° from (m) to (m) length (m)* grade Au (g/t) Zone
MO-16-142 183.49 184.31 0.82 2.54
MO-16-142 188.21 188.82 0.61 2.40 ?
MO-16-142 211.29 212.11 0.82 1.10 ?
MO-16-142 227.47 233.84 6.37 4.68 South
MO-16-157 388.86 390.11 1.25 0.99 Extreme South
MO-16-181 386.27 387.34 1.07 2.07 ?
MO-16-181 462.29 466.65 4.36 6.21 Extreme South
MO-16-181 497.89 498.87 0.98 3.58 New
MO-16-184 363.17 370.48 7.32 1.43 South?
MO-16-184 481.28 481.89 0.61 2.12 South?
MO-16-185 367.89 370.03 2.13 2.35 South?
MO-16-185 486.00 486.89 0.88 9.80 ?
MO-16-185 498.74 507.80 9.05 2.98 Extreme South
MO-16-186 414.44 416.81 2.38 1.13 ?
MO-16-186 434.89 436.78 1.89 6.57 Extreme South
MO-16-187 18.47 20.30 1.83 1.77 New
MO-16-187 63.79 65.93 2.13 1.68 New
MO-16-187 151.42 152.49 1.07 1.14 South
MO-16-188 16.43 17.22 0.79 6.92 New
MO-16-189 62.39 63.25 0.85 1.19 New
MO-16-189 74.89 79.55 4.66 0.67 New
MO-16-190 60.96 83.58 22.62 2.30 New
MO-16-191 140.21 147.22 7.01 1.13 South
MO-16-192 37.04 44.52 7.48 2.11 New
MO-16-192 123.46 124.80 1.34 1.70 South
MO-16-193 44.59 47.43 2.83 1.24 New
MO-16-193 75.01 75.71 0.70 2.64 South
MO-16-194 130.33 130.94 0.61 0.70 Displaced zone?
MO-16-195 189.89 190.80 0.91 1.47 Displaced zone?
MO-16-196 22.62 23.23 0.61 5.06 New
MO-16-196 31.70 32.61 0.91 8.41 New
MO-16-196 37.61 40.66 3.05 1.54 New
MO-16-196 64.37 67.03 2.65 1.51 South
MO-16-197 116.64 117.92 1.28 3.49 South?
MO-16-197 316.38 318.06 1.68 2.04 Extreme South
MO-16-198 141.24 142.86 1.62 3.20 South?
MO-16-198 211.44 216.87 5.43 1.34 Extreme South
MO-16-200 156.73 157.03 0.30 2.64 Extreme South?
MO-16-200 182.82 183.18 0.37 2.20 Extreme South
MO-16-201 174.65 174.96 0.30 2.00 Extreme South
MO-16-204 190.93 194.58 3.66 3.12 South?
MO-16-205 489.05 490.88 1.83 2.99 Extreme South
MO-16-208 225.55 226.98 1.43 2.03 Extreme South
MO-16-208 242.62 243.90 1.28 0.72 Extreme South
MO-16-211 35.05 36.27 1.22 1.33 O'Brien
MO-16-211 59.74 63.40 3.66 3.55 O'Brien
(*) Core length

Metanor estimates that the mineralized intercepts' true thicknesses reach 40 to 70% 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 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.

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.

A map is available at the following address: http://media3.marketwire.com/docs/Metanor%20-%20Map.pdf

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