Bulk Sampling has begun at the Barry Open Pit
October 10th , 2007 - Val-d'Or, Quebec, Canada: Metanor Resources Inc. (MTO: TSX-V) is pleased to announce the beginning of a bulk sampling at the Barry deposit. The bulk sample is designed to determine the main economic parameters of the deposit. The first blasted area in the northeast extremity of the Barry deposit produced mill-feed material which will be carried to the Bachelor site.
Metanor initiated bulk sampling of the Barry deposit with a 2,700 tons blast covering an area of 22m X 15m in the northeast extremity of the stripped area. A wide mineralized quartz vein occurring in this area returned 10.74 g/t Au over 2.5m in channel samples and a total of 545 tons of this material was extracted as mill-feed to be sent to the Bachelor site. A second blast covering an area of 12m X 22m in mineralized zones immediately to the west totalled 2,400 tons of mill-feed material evaluated at 4.10 g/t Au using channel samples across these mine
ralized structures on surface. Four northwest striking lines 5m spaced were channel sampled and returned intersections of 4.0 g/t Au over 10m, 4.15 g/t Au over 9.8m, 3.05 g/t Au over 10.9m and 7.05 g/t Au over 5.3m.
Approximately 5,100 tons of material was broken in the first two blasted areas resulting in 2,150 evaluated tons of waste and 2,950 evaluated tons of mill-feed. The waste will be stored on a separate waste pile established at the Barry site and this mill-feed will be transported to the Bachelor site. A total of 2,950 tons of mill-feed material was produced after the first and the second blast and it represents approximately 58% of the broken material. The grade of this mill-feed material was calculated using channel sampling at 4.33 g/t Au. Transportation of this material to the Bachelor site should be initiated early this week.
The Barry property is located in the Urban-Barry belt, approximately 65 kilometres south-east of the Bachelor Lake
Mine and consists of 206 claims covering 3276 hectares. The Gold Resources for the Barry deposit were re-evaluated by Syst�mes G�ostat International Inc. in compliance with NI 43-101 and are now estimated with a 2 g/t Au Cut-off at 385,000 mt at 4.23 g/t Au (52,300 oz) of indicated resources and 966,000 mt at 4.07 g/t Au (126,600 oz) of inferred resources (Press release of may 8, 2007).
Metanor is presently working to rehabilitate the surface installations, including the Mill and the tailings. Internal components of the initial circuit including the crusher, ball mill and conveyors carrying the material up to the ore bin are ready to proceed with the material from Barry. Intense work is being executed on site to complete rehabilitation of the other internal components of the mill during the next weeks.
Metanor is fully satisfied with all the work already completed on the Bachelor and the Barry projects and the work progre
ss is according to the originally planned schedule. Intense surface sampling is continuing at the Barry deposit and other blasts are already in preparation.
Mr. Andr� Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.
The TSX Venture Exchange does not accept any responsibility for the adequacy or the accuracy of the press release.
For further information please contact:
FOR FURTHER INFORMATION PLEASE CONTACT:
SERGE ROY, PRESIDENT
TEL. : 819-825-8678
E-MAIL : INFO@METANOR.CA
2872, CHEMIN SULLIVAN, BUREAU 2.
VAL-D'OR (QU�BEC)
J0Y 2N0
RENMARK FINANCIAL COMMUNICATIONS INC.
JASON ROY: JROY@RENMARKFINANCIAL.COM
JEN POWER: JPOWER@RENMARKFINANCIAL.COM
TEL: (514) 939-3989
FAX: (514) 939-3717
WWW.RENMARKFINANCIAL.COM
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Metanor Resources Inc.
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EXPLORATION STAGE |
CODE : MTO.V |
ISIN : CA59138Q1037 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Metanor is a gold and palladium exploration company based in Canada. Metanor holds various exploration projects in Canada. Its main exploration properties are NELLIGAN, OPINACA, VASSAN, WAHNAPITEI, BARRY, BACHELOR LAKE / HEWFRAN and DUBUISSON in Canada. Metanor is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 36.4 millions as of today (US$ 28.1 millions, € 23.9 millions). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.37, and its lowest recent point on January 29, 2016 at CA$ 0.03. Metanor has 62 820 000 shares outstanding. |