Metanor Resources Inc.
TSX VENTURE : MTO

Metanor Resources Inc.

November 15, 2016 09:22 ET

Metanor Intersects 4.25 g/t Au Over 16.7 Meters at Barry

VAL-D'OR, QUEBEC--(Marketwired - Nov. 15, 2016) - Metanor Resources Inc. ( "Metanor") (TSX VENTURE:MTO) is pleased to announce preliminary results from its 10,000 meter drilling campaign currently underway at the Barry project near the old pits. This drill program, targeting the area covered by the mining lease, aims to delineate the extensions to the west, south-west, and to validate the geometry of the mineralized materials north of the regional shear Urban-Barry. Results from 13 new drill holes are reported in this press release.

The holes 16, 19, 20, 21, and 22 were drilled north of the existing pits. The holes 17 and 18 were drilled to west of the pits, and the holes 23 to 28 were drilled to the south-west of the pits. See attached diagram.

Highlights:

  • 4.14 g/t over 3.6 meters in MB-16-17,
  • 4.25 g/t over 16.7 meters in MB-16-24 including 11.89 g/t over 4.8 meters,
  • 1.30 g/t over 15.45 meters in MB-16-26 including 2.18 g/t over 6.85 meters,
  • 2.33 g/t over 16.8 meters in MB-16-27 including 3.58 g/t over 8 meters,
  • 2.27 g/t over 16.6 meters in MB-16-28 including 3.67 g/t over 5.5 meters.

The table of the drill holes coordinates is the following:

Drill hole UTM - East UTM - North UTM - Elevation Azimuth Dip Length
MB-16-16 443603.38 5426450.19 408.98 330.0 -45 63.0
MB-16-17 443430.39 5426342.89 407.40 330.0 -45 138.9
MB-16-18 443408.11 5426299.84 405.71 330.9 -44.7 102.0
MB-16-19 443544.53 5426449.90 409.30 330.0 -50 123.0
MB-16-20 443507.57 5426510.67 408.54 330.0 -45 75.0
MB-16-21 443469.91 5426481.57 411.26 330.0 -45 87.0
MB-16-22 443488.00 5426452.00 412.00 330.0 -45 81.0
MB-16-23 443583.10 5426090.22 400.47 330.0 -45 126.0
MB-16-24 443517.09 5426100.34 401.79 330.0 -45 255.0
MB-16-25 443517.09 5426100.34 401.79 330.0 -80 123.0
MB-16-26 443459.27 5426099.45 402.77 330.0 -45 66.0
MB-16-27 443388.47 5426019.83 401.57 330.0 -45 243.0
MB-16-28 443443.00 5426028.00 401.00 330.0 -65 264.0

The holes 16, 19, 20, 21, and 22 that were drilled to the north tend to demonstrate that the mineralization may not be oriented the same way north of the pits. Hole 20 did not intersect the gold intersected by hole 19. The holes 16, 21, and 22 did not intersect significant values. Additional holes in a different direction should be drilled to validate this possibility.

The holes 17 and 18 drilled to the West intersected interesting mineralization near surface in relation to the presence of a porphyry intrusive below another porphyry. This sector is open to the West and at depth.

The holes 23 to 28 located south-West from the pits intersected the mineralization on the contact of the intrusive. Only hole 25 did not intersect mineralization because it was too shallow, and it should be extended eventually. These new holes confirm the extension of a zone at least 250 meters along strike by 200 meters along dip direction. The zone is open in all direction.

Drill results:

Drill hole From To Length Au
(m) (m) (m) g/t
MB-16-17 24.00 27.60 3.60 4.14
MB-16-17 34.00 36.30 2.30 2.07
MB-16-17 82.00 83.50 1.50 1.60
MB-16-17 131.00 133.00 2.00 2.50
MB-16-18 93.40 97.90 4.50 0.69
MB-16-19 26.80 29.70 2.90 1.15
MB-16-19 70.70 72.00 1.30 1.31
MB-16-19 108.60 110.60 2.00 1.91
MB-16-23 80.20 83.40 3.20 1.22
MB-16-24 61.20 64.60 3.40 0.81
MB-16-24 187.00 203.70 16.70 4.25
including 191.20 196.00 4.80 11.89
MB-16-26 36.15 53.20 15.45 1.30
including 36.15 43.00 6.85 2.18
MB-16-27 101.70 126.00 16.80 2.33
including 118.00 126.00 8.00 3.58
MB-16-28 89.40 92.50 3.10 1.01
MB-16-28 118.50 136.50 16.60 2.27
including 122.10 127.60 5.50 3.67
MB-16-28 158.00 162.80 4.80 3.38

*Core length (true thickness at 90%), assay uncut

A map of Barry Gold Deposit is available at the following link: http://media3.marketwire.com/docs/542_e.pdf

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.

About Metanor

Metanor is a Canadian based gold mining company with a focus on the added value of action by the operation, diligent exploration and development of its properties.

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, Ing., of Goldminds Geoservices Inc., is the independent qualified person under NI 43-101 who has prepared and reviewed the technical information contained in this 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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