Metanor Resources Inc.

Metanor Resources Inc.

July 02, 2015 09:23 ET

Metanor Intersects 6.82 g/t Over 8.7 Meters at Bachelor Mine

VAL-D'OR, QUEBEC--(Marketwired - July 2, 2015) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to present an update of the exploration activity at Bachelor Mine. The drill located on level 6 has intersected 6.82 g/t over 8.7 meters. The 2 drill holes intersected the veins between levels 6 and 8. The results are in the table below:

Hole No. From
Au grade
6-141 119.33 123.52 4.2 9.23 8-H-14, B Zone
145.21 146.91 1.7 4.43 8-H-14, A Zone
6-145 118.57 120.80 2.2 8.02 8-H-14, B Zone
124.14 132.85 8.7 6.82 8-H-14, A Zone

*Core length

These new results demonstrate the existence of two distinct veins located near each other. The A zone is dipping near 55 degrees, and the B zone is dipping near 90 degrees. The results continue to expand the dimension of the 8-H-14 (See the longitudinal section for the holes location). The 2 drills on level 6 continue their exploration activities and results will be published as they become available.

On the surface, a fifth drill began its exploration activities on July 1st. The goal of this surface campaign is to follow-up with the geophysical work completed in the fall 2014 on properties surrounding the Bachelor camp that generated targets to drill. The first targeted area is a property east of the mine.

The true width is between 50 and 85% of the core length obtained in diamond drill holes. The cap-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.

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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.

356,557,733 outstanding shares

Qualified Person

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.

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