VAL-D'OR, QUEBEC--(Marketwired - Feb. 6, 2014) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide this update on the ongoing underground drilling program at Bachelor aimed at defining new resources to the west between levels 13 and 14.
Pursuant to the latest drill results justifying the development of new stopes in that sector, Metanor will immediately begin the development of a raise in order to develop sub-levels for these new stopes. The development going west on level 14 is still continuing in the mineralized structure and results will soon be available (see press release of January 23rd).
The table below summarizes the significant intersections obtained in the last few weeks for this sector:
||Grade Au (g/T)
||M + blend (between M and E)
The true width is 50 to 95% of the core length obtained in diamond drill holes in the E vein, and 10 to 40% in the Main and B veins. The large variability in these percentages depends of the angle between the boreholes and the different structures. The cut-off grade used in the analysis is 51,5 g/T or 1,5 oz Au. The samples were assayed by fire-assay at the Metanor assay lab. 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 external assay lab.
Metanor is a Canadian based gold mining company with a focus on adding value per share through efficient production, exploration, and development of it properties.
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 Language and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such 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 in forward-looking statements.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.