VAL-D'OR, QUEBEC--(Marketwire - May 19, 2011) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) and its exploration team are pleased to announce encouraging results of its 2010 diamond drilling program on the new potential gold zone (Zone 3) commencing at surface situated only 2.5 km from the Bachelor lake mill.
A prospecting program carried out over 4 main targets defined by Diagnos brought to light a promising new gold structure on either side of the access road to the Bachelor property, only 2.5 km from the Bachelor Lake mill. When this new mineralized zone was sampled, the best results from grab samples were 11.05 g/t Au (sample # 867355), 11.03 g/t Au (sample # 867356) and 14.80 g/t Au (sample # 867359). The zone was mechanically stripped, exposing, over a length of about 50 m, a quartz-tourmaline-pyrite vein in a shear zone trending east–west to east-southeast.
Metanor carried out a program of 22 diamond drill holes totalling 1587.5 m to test the potential of shallow, lateral extensions of this new discovery. The holes, drilled along sections at 10-15 m intervals, investigated the gold zone over a horizontal distance of 250 m, from the surface to a maximum vertical depth of 80 m. They all intersected the shear zone hosting the gold mineralization over a width ranging from a few metres to 25 m. The amount of pyrite in the quartz-tourmaline veins varied from 2% to 75%, the best gold intersections being associated with pyrite-rich zones. The best intersections were 1.60 g/t Au over 0.95 m (HW-10-02), 2.42 g/t Au over 2.40 m (HW-10-03), 8.48 g/t Au over 2.65 m (HW-10-05), 2.06 g/t Au over 1.05 m (HW-10-10), 2.10 g/t Au over 1.15 m (HW-10-12) 4.04 g/t Au over 0.95 m (HW-10-17) and 1.42 g/t Au over 8.5 m, including 3.87 g/t Au over 2.50 m (HW-10-22).
This east-southeast to east–west trending gold zone is located approximately 2.5 km west of the Bachelor mine and confirms the presence of gold-bearing structures west of the fault that cuts the main zone of the Bachelor Mine.
Since the best gold intersections were obtained in quartz-tourmaline veins containing significant amounts of pyrite, an IP survey is being planned to trace the extensions of this new gold zone, especially in the area leading toward the Bachelor mine.
Analyses were performed by fire assay at the Bachelor Mine laboratory with eventual verification of some samples at the ALS Assay Laboratory in Val-d'Or, Quebec.
About Metanor
Metanor is a Canadian based gold mining company with a focus on adding value per share through efficient exploration, and development of it properties. Maintaining a low risk profile through a strong operating team, sound financial management, and operating in secure jurisdictions like Quebec are key priorities for Metanor's management team.
Qualified Person
Mr. André Tremblay, P Eng. 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. Factors that could cause actual results to differ materially from those in forward-looking statements include, metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.
Shares issued: 201,686,865
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Contact Information:
Andre Tremblay
VP Exploration
819-825-8678
819-825-8224 (FAX)
info@metanor.ca
www.metanor.ca