VAL-D'OR, QUEBEC--(Marketwired - Sept. 4, 2013) - Metanor Resources Inc. ("Metanor") (News - Market indicators) is pleased to provide this update on the current drilling program and exploration drifting at its Bachelor project.
Metanor is continuing the underground drilling program of the « Main », « A » and « E » veins, from various levels of the mine. Also, drifts are being developed to access future stopes from and between levels 10 and 14.
East Extension: Metanor continues to drill the mineralized structure (Main and A veins) in the east sector of mine. A recent drill hole completed from level 13 intersected the junction between the two veins at approximately 15 meters below level 12. The drill hole intersected the mineralization over 12.55 meters at a grade of 17.66 g/T (The true ore thickness of the two structure is estimated at 8 meters).
The table below summarize the intersections obtained in these structures:
| Hole |
From (m) |
To (m) |
Width (m)* |
Au Grade (g/T) |
Zone |
| |
|
|
|
|
|
| 13-082 |
92.22 |
104.77 |
12.55 |
17.66 |
A & Main |
| Inluding |
92.22 |
100.58 |
8.36 |
20.6 |
A |
| And |
100.58 |
104.77 |
4.19 |
11.8 |
Main |
* : Core length
The West Extension:
In the last few weeks, a drift was excavated in the «E» vein and in the extension west of the «E» vein. In total, over 160 meters of drifts were excavated. The structure within the «E» vein was developed over 91 meters. Economical grades were intersected over 60 meters of drifts averaging a diluted grade of 4,94 g/T (1258 Metric Tonnes). A section of that same drift averaged 8,17 g/T diluted over 22 meters.
The development in that sector is now progressing in the west extension of the Bachelor veins system offset by the «E» vein. To date, 70 meters of drifting were completed in the ore structure. The average diluted grade for that development was 4,05 g/T (1711 metric tonnes). The mineralization thickness encountered varied between 2,4 meters and 15,9 meters. The drifting progress still continues in the ore. This is a new sector that was unknown until recently. The «E» as well as the west extension veins were identified through drill holes (holes 13-061 to 74 and 13-095 to 100) completed from level 13 (See previous press release:24-08-13, 06-06-13, 29-05-13, and 29-04-13).
Exploration drifts are also being prepared on level 12, 13, and 14 to continue the exploration of these new structures which are not included in the current mineral resource ( 43-101 technical Report published April 26 2011 on SEDAR) of the Bachelor Project.
Metanor is very encouraged by the results to date in the exploration of these new gold structures and by the progress made in the project ramp up. These new results show the significant extension of the veins and consequently the increase in the available resource.
Ghislain Morin, President and CEO, stated that "We are very excited over the discovery of these new zones where the significant thickness is up to 15 meters in some areas and is so close to our current infrastructure. The next resource-reserve compilation will be very interesting."
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.
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.
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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