Metanor Resources Inc./Barry Pit is Growing: Encouraging Positive Preliminary Results
Fri Jun 20, 8:45 AM
ca.news.finance.yahoo.com
VAL-D'OR, QUEBEC, CANADA--(Marketwire - June 20, 2008) - "Metanor" (TSX VENTURE: MTO.V) is pleased to announce encouraging positive preliminary results from its current diamond drilling campaign on the Barry Property.
Resources for the actual East pit have been calculated for the Main Zone and Zone 43 to a depth of 25m and include resources of the West pit between 25 and 50m at depth. The diamond drilling program of 2008 is designed to prove certain resources and to add resources in the extensions of the mineralized zones and at depth.
The Barry gold deposit is hosted by the NE-trending Murgor shear which extends over a 13 km strike length on the property. Gold mineralization is mainly associated with 4 main mineralized zones: the Main Zone (section 900-1200E), Zone 45 (675E-825E), Zone 48 (330E-475E) and Zone 43 (750E-1150E) being located approximately 80m south of the Main Zone. All these zones coincide with IP anomalies. High chargeability anomalies were delineated all along the Murgor shear and most of them located to the NE need to be tested during the exploration program.
From April 1st to June 16, 2008, Metanor has completed 77 diamond drill holes (ddhs) totaling 8,825 meters. This 15,000 meter drilling campaign is aimed at outlining new extensions of the known mineralized zones. It allowed establishing that the Barry deposit gold mineralization is closely associated to granodiorite dykes. Zone 45 was extended approximately 115m to the southwest with Hole-MB-08-287 which intersected a mineralized zone with disseminated pyrite over 30m. Diamond drill holes testing the Zone 45 at shallow depth intersected several closely spaced mineralized zones over a width of up to 70m. Visible gold was observed in certain holes. In the West zone area (Zone 45) extensions of mineralized zones were intersected close to surface and indicate the up-dip continuity of that zone and new resources. Diamond drill holes (262 and 263) on a section between the West Pit (Zone 45) and the East Pit (Main and 43) intersected mineralized zones joining these 2 pits.
Most of these holes will be totally assayed for gold. Due to the presence of pyrite in most of the intersected structures it was decided to locate gold bearing structures first for a systematic assaying of all these zones. Eventually more than 6,000 samples will be necessary to evaluate these holes and presently only approximately 10% of the results have already been obtained. Most of them are still pending but very interesting results were obtained in the first batches indicating that most of these zones are gold bearing and could allow increasing resources.
Assay results from the first 8 ddhs show significant gold intersections that either confirm the known mineralized zone (West Zone) or define their possible extensions (West Gap and South Gap).
DDH 259, 260, 261 and 266A confirmed mineralization continuity across the West Zone. DDH 262, 263 and 267 outlined significant gold intersections between Main and West Zones (West Gap). DDH 275 outlined possible mineralization extension between the Main Zone and the southern No 43 Zone (South Gap).
Table 1 Current assay results from Barry Property spring 2008 diamond drill campaign.
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DDH From To Dist. Au
(m) g/mt
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259 40.5 41.5 1 5.63
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259 54 55.5 1.5 9.20
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259 58.5 60 1.5 5.10
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259 96 97.5 1.5 2.66
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260 30 31.5 1.5 5.70
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260 31.5 33 1.5 4.10
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260 43.5 45 1.5 2.85
------------------------------------------------------------
260 84 85.5 1.5 10.2
------------------------------------------------------------
260 87 88.3 1.3 1.22
------------------------------------------------------------
261 42 46.5 4.5 3.85
------------------------------------------------------------
261 85.9 87.15 1.25 3.45
------------------------------------------------------------
266A 6.5 9 2.5 13.12
------------------------------------------------------------
266A 44 45 1 2.10
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266A 56.5 57.2 0.7 9.60
------------------------------------------------------------
266A 60 61.5 1.5 2.39
------------------------------------------------------------
266A 81.05 82.5 1.45 3.98
------------------------------------------------------------
266A 87 88.5 1.5 2.11
------------------------------------------------------------
266A 90 91.5 1.5 2.58
------------------------------------------------------------
266A 95.5 96 0.5 6.55
------------------------------------------------------------
262 88.5 90 1.5 2.31
------------------------------------------------------------
262 120 121.25 1.25 19.40
------------------------------------------------------------
262 194.5 195.7 1.2 2.66
------------------------------------------------------------
263 92 93 1 2.46
------------------------------------------------------------
263 106.5 108 1.5 2.89
------------------------------------------------------------
267 19.75 21 1.25 5.25
------------------------------------------------------------
267 37.5 40.5 3 3.4
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267 44.3 46.5 1.1 2.6
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275 86.9 88.5 1.6 10.85
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Further results, approximately 90% of the samples, are pending and will be made available as soon as they are received in the near future. The first phase of the drilling program successfully filled the gaps connecting all the known zones and will allow increasing the area of mining the open pit. Phase 2 of the drilling program will be targeted at greater depth and testing high priority IP anomalies in the prolongation of the known zones and testing Zone 51 located and extending to the northwest.
The on-site Barry exploration program is conducted under the supervision of Mr. Mathieu Piche Ph. D., Geo, and qualified person as defined by National Instrument 43-101. Metanor has implemented and adheres to a strict Quality Assurance/Quality Control program which includes mineralized standards and blanks for each batch of samples. Assay samples are taken from split drill core. Analyses are either performed at the Bachelor Mine laboratory, Techni-lab S.G.B. Abitibi inc. in Sainte-Germaine Boule, Quebec or at ALS-Chemex in Val-d'Or, Quebec, accredited laboratories.
Mr. Andre Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.
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Contacts
Serge Roy, CEO
Metanor Resources Inc.
819-825-8678
info@metanor.ca
www.metanor.ca |
