Metanor Resources Inc.
TSX VENTURE : MTO

Metanor Resources Inc.

May 19, 2016 08:39 ET

Metanor Intersects 2.3 g/t Au Over 60m on Surface at the Barry Project

VAL-D'OR, QUÉBEC--(Marketwired - May 19, 2016) - Metanor Resources Inc. (« Metanor ») (TSX VENTURE:MTO) is pleased to announce the complete results from the diamond drilling campaign recently completed at the Barry property located 116 km from the Bachelor mill. A total of 1,370 meters were drilled during this campaign.

Recent highlights:

  • 2.3 g/t Au over 60m in hole MB-16-11, east extension of the main pit;
  • 1.3 g/t Au over 55m in hole MB-16-10, east extension of the main pit.

Including:

  • 4.6 g/t Au over 18m in hole MB-16-11;
  • 3.7 g/t Au over 12m in hole MB-16-10.

These last results, from holes MB-16-10 and MB-16-11, confirm the extension of the main pit to the south-east, with grades and thicknesses favorable to open pit extraction.

The drill campaign of spring 2016 at Barry met its objectives; to extend the mineralized zones and to validate zones at higher grades in the new mineralisation model proposed by Claude Duplessis, Ing., the qualified person from Goldminds Geoservices. The next step is to estimate the mineral resources from the new interpretation. Metanor is currently considering an additional drill campaign of 15,000m on the extensions of the pits due to the potential of a major pit.

Ghislain Morin, president and chief executive officer, declared: « We are very happy with the results of this campaign and we will rapidly take the required steps to validate the restart of operations on the Barry property.

Complete results of the spring 2016 program at Barry:

Hole No. from
(m)
to
(m)
length
(m)*
grade Au
(g/t)
Note
MB-16-01 95 109 14 1.5 2
Including 103 109 6 3.0 2
MB-16-02 22 30 8 0.8 2
MB-16-03 43 46 3 3.4 2
MB-16-04 1.6 6 4.4 2.1 3
MB-16-04 17 27 10 2.5 3
MB-16-05 38 52 14 2.8 2
MB-16-05 63 71 8 1.7 2
MB-16-06 28 58 30 1.8 3
Including 28 41 13 3.6 3
MB-16-07 58 78 20 0.8 3
Including 69 78 9 1.3 2
MB-16-08 36 63 27 1.6 2
Including 36 41 5 5.4 2
MB-16-09 28 32 4 1.0 2
MB-16-09 54 59 5 1.5 2
MB-16-09 79 84 5 2.1 2
MB-16-09 140 143 3 3.2 2
MB-16-10 5 60 55 1.3 1
Including 5 9 4 2.2 1
Including 33 40 7 3.7 1
Including 50 60 10 1.2 1
MB-16-11 18 78 60 2.3 1
Including 18 32 14 2.6 1
Including 37 49 12 1.6 1
Including 60 78 18 4.6 1
MB-16-12 7 40 33 1.9 2
Including 16 40 24 2.4 2
Including 22 40 18 3.1 2
Including 22 30 8 4.4 2
Including 35 39 4 4.9 2
MB-16-12 50 59 9 1.2 2
Including 50 53 3 2.2 2
MB-16-13 33 37 4 1.2 2
MB-16-13 43 51 8 4.1 2
MB-16-14 21 61 40 2.1 2
Including 52 61 9 5.4 3
MB-16-15 101 126 27 0.9 2
Including 101 106 5 2.2 2
Including 110 119 10 0.9 2
* Core length
Note: 1. New results
2. Results published May 11, 2016
3. Results published April 27, 2016

GoldMinds estimates that the mineralized intercepts' true thicknesses are 85 to 95% of the drill cores. No capping was used. A rigorous, industry-standard, QA/QC program is in place. 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 independent quality control program of the assay results (QA/QC) adopted by GoldMinds includes a minimum of 5% of controlled core & assays being conducted by an independent ALS-certified assay laboratory in Val-d'Or, Québec. Actual QA/QC results demonstrate results can be disclosed and relied upon

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.

Claude Duplessis, P. Eng., from GoldMinds Geoservices Inc. is the independent Qualified Person under NI 43-101 which has prepared and reviewed 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.

Two maps of the Barry Project are available at the following address: http://media3.marketwire.com/docs/160519_MTO_BarryProject_Map.pdf

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