Metanor Resources (TSX VENTURE:MTO): Drilling Campaign of 25,000 Meters to Continue to Grow the Resource at Barry
VAL-D'OR, QUEBEC--(http://www.investorideas.com/ gold and mining stocks blog ) - Sept. 23, 2010) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) and its exploration team are pleased to announce a drilling campaign of 25,000 meters on the Barry property.
The purpose of this drill campaign is to increase the known resource considerably. Operating and extracting ore from the Barry pit and the past drill campaign have enabled Metanor to have a very good comprehension of the geological structure and the continuity of the gold bearing zones. Moreover, strong intensity anomalies other than those of the Barry pit, where resources of several million tonnes were recently announced (Press Release dated September 21,2010), were discovered east and west of the pit by an induced polarization (IP) survey executed by Abitibi Geophysique of Val d'Or in 2009.(Press Release dated February 24, 2010)
New Resources calculated on approximately only 3% of the entire Barry property:
These indices demonstrate the potential to rapidly increase the resources at Barry.
The present gold corridor (pit) is nearly 1 km long with a width of approximately 140 m and up to depths ranging from 75m to 125m. The Barry pit is still open in all directions.
This drilling campaign will target these strong anomalies to the East and West with the goal of extending the gold zone more than 5 km. Further, Metanor would drill around the present 1 km corridor (pit) and also below 125 m.
Metanor and all its team have great confidence in the future of the Barry property and its potential in becoming a major deposit in the Quebec mining industry.
Mr. André Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.
Shares issued: 133 595 947
The purpose of this drill campaign is to increase the known resource considerably. Operating and extracting ore from the Barry pit and the past drill campaign have enabled Metanor to have a very good comprehension of the geological structure and the continuity of the gold bearing zones. Moreover, strong intensity anomalies other than those of the Barry pit, where resources of several million tonnes were recently announced (Press Release dated September 21,2010), were discovered east and west of the pit by an induced polarization (IP) survey executed by Abitibi Geophysique of Val d'Or in 2009.(Press Release dated February 24, 2010)
New Resources calculated on approximately only 3% of the entire Barry property:
| Indicated Resources | 2007** | 2010 | % Increase | |
| Tonnes | 385,000 | 7,701,000 | 1,900% | |
| Ounces Au | 52,300 (4.23g/t) | 309,500 (1.25g/t) | 491% | |
| Inferred Resources | ||||
| Tonnes | 966,000 | 10,411,000 | 977% | |
| Ounces Au | 126,600 (4.07g/t) | 471,950 (1.41g/t) | 272% | |
| ** announced by Press Release May 8, 2007 | ||||
The present gold corridor (pit) is nearly 1 km long with a width of approximately 140 m and up to depths ranging from 75m to 125m. The Barry pit is still open in all directions.
This drilling campaign will target these strong anomalies to the East and West with the goal of extending the gold zone more than 5 km. Further, Metanor would drill around the present 1 km corridor (pit) and also below 125 m.
Metanor and all its team have great confidence in the future of the Barry property and its potential in becoming a major deposit in the Quebec mining industry.
Mr. André Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.
Shares issued: 133 595 947
The TSX Venture Exchange neither their regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact
Metanor Resources Inc.
Ronald Perry
Vice-President
514-262-8286
rperry@metanor.ca
Metanor Resources Inc.
Ronald Perry
Vice-President
514-262-8286
rperry@metanor.ca
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