Metanor Resources Inc.
TSX VENTURE : MTO

Metanor Resources Inc.

October 06, 2016 09:42 ET

Metanor Intersects 12.0 g/t Au Over 3.9 M in a New Sector of the Bachelor Mine

VAL-D'OR, QUEBEC--(Marketwired - Oct. 6, 2016) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide this update on its underground exploration and definition drilling program at Bachelor Mine. Several zones are currently being drilled:

Hole N° from (m) to (m) length (m)* grade Au (g/t) Zone
6-233 73.8 75.5 1.6 7.5 6-H-14
6-234 80.0 82.3 2.3 8.1
6-235 74.7 76.2 1.5 10.6
6-236 70.1 71.6 1.5 5.7
6-266 77.9 80.5 2.6 2.2
6-267 77.9 78.5 0.6 2.2
6-268 82.9 84.8 1.9 6.3
6-251 83.1 84.8 1.6 14.2
6-241 121.4 123.3 1.9 5.9 6-H-12
6-242 117.1 118.7 1.6 9.0
6-243 116.0 118.9 2.9 5.7
6-246 105.9 108.8 2.9 12.1
6-264 114.5 116.6 2.0 3.1
6-265 105.9 108.8 2.9 12.1
6-223 28.3 39.9 11.6 7.1 8-H-06
6-224 16.0 19.1 3.1 4.9
6-225 13.4 15.9 2.5 5.7
6-226 12.0 13.0 1.0 2.7
6-227 32.9 37.3 4.4 9.3
6-252 42.8 44.2 1.4 4.2
6-253 47.1 48.0 0.9 5.2
6-254 48.8 50.3 1.6 5.9
E16-075 66.0 67.1 1.1 7.4 12-H-10
E16-076 64.0 66.8 2.7 6.3
E16-077 76.1 78.3 2.2 4.7
E16-078 61.9 62.5 0.6 7.4
E16-079 46.3 50.4 4.1 10.3
E16-080 59.4 60.9 1.6 5.6
E16-082 62.8 66.7 3.9 12.0
E16-083 57.9 60.1 2.1 3.7
14-140 97.2 105.3 8.1 11.8 15-00-03
14-141 63.0 66.5 3.5 6.0
and 103.5 108.3 4.8 7.7
14-143 32.6 35.1 2.4 7.8
and 41.8 44.9 3.1 10.6
14-145 27.7 30.0 2.3 6.5 15-00-01 and 15-E-01
and 46.3 48.0 1.7 5.3
14-146 28.9 33.5 4.6 4.1
and 86.3 97.8 11.5 3.5
14-147 44.7 45.3 0.6 5.7
14-148 56.6 58.6 2.0 3.3
14-150 40.4 45.7 5.3 11.5
14-151 49.2 52.3 3.0 16.2
14-152 34.6 37.0 2.4 18.0
14-160 29.3 29.9 0.6 3.3
14-161 14.6 15.9 1.3 5.2
and 29.4 30.5 1.1 7.2
(*) Core length

Current and future drilling program

Drill #1 (current):

  • Sector 15-0-01 and 15-E-01: Drilling the extension of these stopes at depth toward level 15 of the mine.

Drill #1 (planned):

  • Sector 6-H-14: drilling upper section of this stope toward surface to better define the current resource.
  • Sector 15-0-04: exploration drilling to assess the potential of this sector below the old stope 14-0-04.
  • Sector 6-H-12 Up: exploration drilling to increase the resource following the high grade obtained above the stope being developed

Drill #2 (current):

  • Sector 8-H-06: Drilling to assess the potential to the west below the stope 6-H-04 presently being mined.

Drill #2 (planned):

  • Sector 6-B-06 and 8-B06: exploration drilling to assess the potential in this sector of the B vein.

Drill #3 (current):

  • Sector 12-H-10: exploration drilling to increase the resource below stope 10-H-10 currently being developed. We plan to drill below level 12 of the mine following the positive results obtained in this drill program. This sector is open at depth.

Metanor estimates that the mineralized intercepts' true thicknesses reach 60 to 65% 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.

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