Metanor Intersects 5.7 g/t Au over 13.7 metres at Moroy

VAL D’OR, Quebec, July 18, 2018 (GLOBE NEWSWIRE) — Metanor Resources Inc. (the “Company” or “Metanor”) (TSX-V:MTO) is pleased to announce drill results from the on-going underground drill campaign at the Moroy zone, including new high-grade results of 5.7 g/t Au over 13.7 metres, 16.5 g/t Au over 2.6 metres and 6.0 g/t Au over 6.8 metres. These new results establish both a high-grade component and add large volume to the western extent of the Moroy Zone.   Highlights from new drill holes include:

  • MY18-074
from 142.4 m. to 156.1 m. 5.7 g/t Au over 13.7 m.
     
Intermediate volcanic host, locally brecciated, moderate to strong pervasive hematite alteration, trace of pyrite.
 
  • MY18-076
from 110.4 m. to 113.0 m. 16.5 g/t Au over 2.6 m.
     
Intermediate volcanic host, strongly fractured, weak to moderate pervasive hematite alteration, trace of pyrite.
     
  • MY18-073
from 130.6 m. to 137.4 m. 6.0 g/t Au over 6.8 m.
     
Intermediate volcanic host, weak pervasive hematite alteration, also in veinlets, and 1-2% disseminated pyrite

Highlights of the last 8 drill holes that intersected gold mineralization are listed below:

Hole # From (m) To (m) Length (m) Au g/t
MY18-071       Tr
MY18-072 116.8 119.7 2.9 1.8
& 126.6 127.6 1.0 10.3
MY18-073 130.6 137.4 6.8 6.0
MY18-074 119.8 122.9 3.1 7.3
& 142.4 156.1 13.7 5.7
MY18-075 166.6 170.0 3.4 11.2
MY18-076 110.4 113.0 2.6 16.5
& 144.8 149.8 5.0 8.2
MY18-077 157.1 168.3 11.2 5.1
Including 166.4 168.3 1.9 9.8
MY18-078 84.6 86.1 1.5 8.2
& 148.7 153.4 4.7 13.0

*Stated intervals are core lengths as drilled, true thicknesses vary and average between 65% to 80% of core lengths.

Drillholes information:

Hole # UTM – East UTM – North UTM – Elev Length (m) Azimuth Dip
MY18-071 417110 5482819 -128 550 191 14.5
MY18-072 417110 5482819 -128 560 181 21
MY18-073 417110 5482819 -128 600 178 25.5
MY18-074 417110 5482819 -128 560 172 22
MY18-075 417110 5482819 -128 600 164.5 25
MY18-076 417110 5482819 -128 550 164.5 21.5
MY18-077 417110 5482819 -128 620 157.5 25.5
MY18-078 417110 5482819 -128 560 157.5 21.5

Metanor continues to explore at the Moroy zone with 1 underground diamond drill rig completing 50 ft step outs. The first part of the ore sill and haulage drift is now complete and the ore drift will be pushed eastward along strike.  Metanor has also completed two raises up to sub-level two. The consistent results out of the Moroy zone will add a valuable component to the Bachelor Mine moving forward and will provide additional ore for daily gold production.

Quality Control and Reporting Protocols

Metanor estimates that the actual thicknesses of the mineralized intersections are between 65% and 80% of the core lengths. No capping grade is used at this stage.  The Company uses a rigorous QA-QC analytical program according to industry standards. The analytical results were done by pyroanalysis (A.A.) at the mine laboratory. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance.  The company’s QA-QC analytical verification program requires that a minimum of 5% of the samples be audited at an independent laboratory. These audit assays were sent to ALS laboratory located in Val-d’Or, Quebec. The results of the audits are consistent with those obtained.

About the Bachelor Mine

The Bachelor Mine produces gold from a mineralized sub-vertical narrow vein system. The Moroy zone is a south-parallel system to the Bachelor mine. New development and drill programs are currently being conducted on the Moroy zone. Mine methods used are long-hole mining with rail-track access from a vertical shaft, and the new sub-level sector 14 is accessible from a ramp system. The ore is processed on site at the Bachelor processing plant using the activated carbon process. The mill is on site and accessible by a paved road.

Qualified Persons

Pascal Hamelin, P. Eng., President and COO, is the Qualified Person under NI 43-101, who is 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 as “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.

For more information, please contact:
Pascal Hamelin, President & COO
Telephone: 819-825-8678
email: phamelin@metanor.ca
2872, Sullivan Rd, suite 2
Val-d’Or, QC J9P 0B9

Maps associated with this press release are available at 

http://www.globenewswire.com/NewsRoom/AttachmentNg/8b6f691b-ae3f-491f-aec6-08adda4bc62b

http://www.globenewswire.com/NewsRoom/AttachmentNg/3bd23143-7712-4092-8720-f159aea24c7b

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