Metanor Intersects 10.4 g/t Au Over 8.8 m at Bachelor Mine - VAL-D'OR, QUEBEC--(Marketwired - June 30, 2016) -
Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide this update on its underground exploration drilling program at Bachelor Mine. The development of a ramp below level 14 toward level 15 in the Main vein allowed the construction of a drill station well positioned to define additional resources below level 14. The drilling began in early June.
The details of the intersections obtained from the drill holes are described in the table below:
Hole No from (m) to (m) length (m)* grade Au (g/t) Zone 14-117 16.3 21.1 4.8 4.1 Main And 31.0 34.9 3.9 4.9 Main 14-118 21.5 30.3 8.8 10.4 Main 14-119 24.1 25.0 0.9 2.1 Main 14-130 101.6 107.2 5.7 5.5 Main (*) Core length
The mining development continues toward the recently drilled sectors, and mining will commence in the coming month.
Metanor estimates that the mineralized intercepts' true thicknesses reach 60 to 65% of the drill cores. A capping of 31 g/t was used or 1 Au ounce. The Company uses a rigorous, industry-standard, QA/QC program. The samples were assayed by fire-assay at the Metanor assay lab. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. 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 ALS-certified assay laboratory in Val-d'Or, Québec. Results of the spot checks were consistent with those reported.
Qualified Persons
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 and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements".
The potential quantity and grade is conceptual in nature as there has been ---- developments may differ materially from those forward- blooking statements.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Ronald Perry Vice-president 514-262-8286 rperry@metanor.ca
The gold market is showing some early signs of recovery mostly driven by the drop in long term interest rates and rise in the risk aversion in the markets.
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