TSX VENTURE EXCHANGE = MTO
VAL-D'OR, QC, Nov. 28 /CNW Telbec/ - Metanor Resources Inc. (MTO: TSX-V)
is pleased to provide an update concerning the Bulk Sampling of 40,000 tons of
material executed at the Barry deposit.
Metanor initiated bulk sampling of the Barry deposit in the northeast
extremity of the stripped area where extensions of the original stripped zone
exposed two sheared and mineralized volcanic rocks injected with a well
developed quartz vein system and separated by a 15m wide block of waste
material composed of massive andesite. In order to evaluate the nature and the
quality of the deposit of Barry, it was proposed to take a bulk sampling from
the first bench over a thickness of 3m along the Main Zone.
In the first sector, between the sections 12+10 E and 11+50 E, the main
mineralized zone has an average thickness of 10,7m and is separated from the
southern zone by a band of sterile andesite. In this sector the best gold
value obtained by channel sampling is on the line 11+85 E with an intersection
of 4.84 g/t Au over 29.7m. In the second sector, between the sections 11+50 E
and 9+95 E the two gold-bearing zones meet and the average thickness of the
mineralized zone is increased at 26.7m. The best intersections obtained by
channel sampling in this sector are: 5.58 g/t Au over 15.3m (L1155 E),
4.92 g/t Au over 23.55m (L1145 E), 4.94 g/t Au over 31.1m (L1052 E) and
5.59 g/t Au over 19.82m (L995 E). The results of the systematic sampling of
the mineralized zone, carried out with a line spacing of 5m, indicate a good
distribution of gold through the mineralized zone and show the continuity of
the gold bearing zones. Considering the constant thickness of the main zone
and constant distribution of gold contents over a distance of more than 150m,
the continuation of the Bulk Sampling will be done only in mill-feed material.
On the northern side of the main mineralized zone, the stripped area was
extended in order to expose the extension towards the south-west of a
gold-bearing zone which had been partially sampled and having returned
intersections of 4.37 g/t Au over 6.4m on the line 1045 E and 10.04 g/t Au
over 3.7m on the line 1015 E. A new channel sample on the line 1025 E and
located between the 2 preceding ones, returned an intersection of 5.10 g/t Au
over 12m, and confirms the potential of this gold-bearing zone. The results of
some other channel sample taken in this sector are still pending.
An evaluation of the mineral resources close to surface by using the
existing channel sampling combined with those of 2007, indicates that
approximately 40,000 metric tons of material will be excavated from the first
bench over a thickness of 3m and that less than 15,000 tons of sterile
material will have been broken.
The mineralization of the Barry Deposit is characterized by a system of
quartz-carbonate-albite veins associated with sheared zones oriented at
060(degrees) and with a dip of 60-70(degrees) towards south-east. Free gold is
frequent and located in tension fractures within host rocks and veins. The
association of the gold bearing zones with sub-verticals sheared zones rather
than sub-horizontal ones leads us to modify the method of mining that deposit
what will make it possible to obtain a waste:ore ratio much lower than
expected compared to the original scenario. The extension of the gold-bearing
zones is already open towards the north-east and the south-west and the
association of the gold bearing zones with vertical sheared structures allows
to consider the extension of all mineralized zones at depth and thus a
significant increase in the mineral resources. This possibility was only
partially tested with previous exploration work.
Approximately 13,000 tons of mill-feed materials were already crushed at
the Barry site. Muck samples taken in this crushed material returned gold
values between 6 g/t Au and 19 g/t Au and reaching 29.4 g/t Au and 56.2 g/t
Au. With the significant widening of the mineralized zones towards south-west,
the progress of the work will be done only in the mill-feed material during
the next weeks and that will allow acceleration of Bulk Sampling as well as
transport of mill-feed and eventual storage at the Bachelor site.
All the samples were collected on lines perpendicular to the strike of
mineralized zones dipping 60 to 70 degrees to the southeast. The width of
these intersections obtained on surface represents approximately 85 to 90% of
the true width of mineralized zones. All the samples were sent to ALS Chemex
laboratory in Val-d'Or for analysis by fire assay (A.A.) with gravimetric
finish on all the samples greater than 3 g/t Au.
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 Systèmes Géostat 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).
Mr. André Tremblay, P Eng. is the qualified person pursuant to National
Instrument 43-101 and supervised the technical information presented in the
The TSX Venture Exchange does not accept any responsibility for the
adequacy or the accuracy of the press release.
For further information:
For further information: Serge Roy, President, (819) 825-8678, Fax.:
(819) 825-8224, firstname.lastname@example.org, www.metanor.ca; Renmark Financial
Communications Inc.: Jason Roy, email@example.com; Jen Power,
firstname.lastname@example.org, (514) 939-3989, Fax: (514) 939-3717,