VAL-D'OR, QUEBEC--(Marketwired - Sep 22, 2015) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide this update on its exploration drilling program, from the surface, in the area surrounding the Bachelor Mine. A surface drill located 925 meters south of the Bachelor Mine has intersected 10.1 g/t over 26.2 meters of drill cores assayed. The drilling continues in the same hole since there are more potential targets at depth. This result is part of a drill campaign that is a following up from holes drilled in 2013 and a geophysical survey completed in the fall 2014 in the region surrounding Bachelor Mine. See the press release published March 12, 2015 for more details.
Initially, hole MO-15-08 was drilled in August. See the attached plan for the collar location. Following the results obtained from this first hole, a geophysical survey using a hole to hole - Induced polarization (H2H IP) method was conducted in the first hole, and indicated a large anomaly in the area. A second surface drill rig was brought in to drill hole MO-15-14. The location of the second hole targeted the large anomaly.
The results are in the table below:
| Hole No |
From
(m) |
To
(m) |
length
(m)* |
Au grade
capped
(g/t) |
Remark |
| MO-15-08 |
605.0 |
606.0 |
1.0 |
26.8 |
Hematized sheared Tuf - 2% Pyrite (Py) |
| |
611.8 |
613.3 |
1.5 |
7.5 |
Hematized sheared Tuf - 2% Py |
| MO-15-14 |
6.4 |
32.6 |
26.2 |
10.1 |
Hematized sheared Tuf - 1 to 4% Py, visible gold at 10.2 m |
In the next coming days, the second rig will continue to drill around this hole MO-15-14 to complete a series of short holes, to better define the azimuth and dip of this vein and to verify its dimension. The future results will be published as they become available in the coming weeks. The first surface drill rig continues to drill the other anomalies identified in 2014 in the region surrounding Bachelor Mine.
The true width of the vein cannot be determined at this point from the core obtained in Diamond drill holes. More holes are required to define the direction and dip of the vein. The cap-off grade used in the analysis is 31 g/T or 1 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.
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.
A map is available at the following address: http://media3.marketwire.com/docs/1026003_Fig.jpg.