Metanor Resources Inc.
TSX VENTURE : MTO

Metanor Resources Inc.

October 07, 2013 09:26 ET

Metanor Initiates a 15,000 Meter Drill Program at Barry

VAL-D'OR, QUEBEC--(Marketwired - Oct. 7, 2013) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to announce the beginning of a surface drilling program totaling 15,000 meters on the Barry property. This drilling campaign will be performed by Orbit Garant Drilling Services Inc (TSX VENTURE:OGD) of Val d'Or. A drilling program totaling 15,000 m has been announced on the Bachelor property (press release of September 23, 2013).

The drilling program on the property Barry is designed to investigate Induced Polarization (IP) anomalies detected during surveys conducted between 2009 and 2011 and covering the whole blocks of claims (Barry United, Barry Center, Barry West Extension and Barry East Extension). Between 2009 and 2011, a total of 247 km of Induced Polarization (IP) surveys detected 153 new anomalies or extensions of the anomalies discovered during the previous surveys on all of these properties .

On the Barry West Extension property, a series of strong IP anomalies oriented north-east have been detected over a width of 1.5 km and may coincide with deformation zones containing disseminated to massive sulphides in the volcanic units and associated sills. The best gold intersection obtained in this sector where historical work has been done was 10.36 g/t Au over 1.5 m.

On the Barry United property, several IP anomalies of high intensity have been detected at the south-west and north-east extremities of the property and each represents a very promising environment for the search of mineralized zones of the same type as those of the Barry mine.

A series of strong IP anomalies detected at the south-western edge of the property, over a width of 1.6 km may coincide with deformation zones containing disseminated to massive sulphides in the volcanic units and associated sills. These anomalies have been defined up to the western boundary of the property to approximately 6.5 km of the Barry deposit. In the eastern sector of the property, several medium-to-high intensity IP anomalies have been defined up to the east end of the property. These IP anomalies, forming of continuous or segmented lineaments are associated to a major deformation corridor (Mazere fault), oriented N060° which is more than 6 km long.

At the north-eastern end of the Barry United property, a series of IP anomalies oriented to the north-east has been detected in a deformation corridor of approximately 400m in width. These anomalies are found in a very promising environment for the search of mineralized zones of the same type as those occurring at the Barry mine. These anomalies may also represent the extensions of the mineralized zones on to the adjacent property owned by Eagle Hill Exploration Corporation and having recently returned a gold-bearing intersection of 7.47 g/t Au over 14.20 m associated with a shear zone which the extension is estimated at 7.5 km long.(Press Release dated August 24, 2011).

On the Barry SE Extension property, a series of very strong IP anomalies oriented N060° has been detected on a width of 600 m in a deformation corridor which crosses the eastern part of the claims block over a distance of approximately 3km. These series of very strong IP anomalies, located approximately 2.5 km to the south of the Barry deposit, could represent the extensions to the south-west of mineralized zones intersected on the adjacent property held by Bonterra Resources which announced an intersection of 2.84 g/t Au over 31 m, including 18.16 g/t Au over 4.5 m (Press Release of August 8, 2011).

These geophysical surveys have permitted us to complete the IP coverage on the entire Barry properties and to extend the conductive zones over a distance of more than 13 km. These high intensity anomalies have the same signature as those which are associated with the mineralized zones at the Barry mine (Main zone, zone 43, Center zone and zone 48). The geophysical targets that will be investigated during this drilling campaign are all considered as very promising and should allow us to define new mineralized structures that could lead to the discovery of new gold deposits on the property.

About Metanor

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.

Qualified Person

Mr. André Tremblay, VP Exploration, is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the 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.

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