VAL-D’OR, QUÉBEC–(Marketwired – June 13, 2016) – Metanor Resources Inc. (« Metanor ») (TSX VENTURE:MTO) is pleased to announce the results of the surface diamond drilling campaign on the Moroy property located 1 km from the Bachelor mill.
To date, approximately 14,600 meters of drilling have been completed on the Moroy property as part of the ongoing 60,000 meter drilling campaign intended to increase the mineral resource in this area.
All of the drill holes contain gold and some have intersected up to three different gold intersections. The drilling campaign continues while interpretations are underway to evaluate the structural controls associated with the gold zones.
The details of the intersections obtained from the drill holes are described in the table below:
| Hole N0. | from (m) | to (m) | length (m)* | grade Au (g/t) | Zone |
| MO-16-128 | 238.4 | 240.8 | 2.4 | 4.7 | South |
| MO-16-129 | 155.2 | 156.9 | 1.7 | 3.6 | New Zone |
| MO-16-131 | 442.9 | 448.0 | 5.1 | 3.1 | South |
| MO-16-132 | 170.9 | 176.7 | 5.8 | 2.4 | New Zone |
| MO-16-139 | 66.5 | 75.9 | 9.4 | 1.6 | South |
| MO-16-145 | 106.5 | 107.0 | 0.5 | 2.9 | South |
| MO-16-146 | 322.7 | 325.2 | 2.5 | 3.1 | New Zone |
| MO-16-146 | 561.6 | 572.5 | 10.9 | 2.5 | New Zone |
| MO-16-147 | 104.2 | 108.0 | 3.8 | 1.4 | South |
| MO-16-148 | 188.9 | 191.1 | 2.3 | 3.9 | South |
| Mo-16-149 | 218.0 | 220.9 | 2.9 | 2.1 | South |
| MO-16-150 | 186.6 | 189.7 | 3.1 | 3.0 | South |
| MO-16-151 | 209.2 | 212.0 | 2.8 | 1.5 | South |
| MO-16-152 | 181.9 | 183.1 | 1.2 | Low value | South |
| MO-16-153 | 208.4 | 211.6 | 3.2 | 6.1 | South |
| MO-16-154 | 203.2 | 206.0 | 2.8 | Low value | South |
| MO-16-155 | 203.6 | 205.0 | 1.4 | 2.1 | South |
| MO-16-156 | 92.5 | 94.6 | 2.1 | 4.9 | South |
| MO-16-156 | 178.6 | 185.5 | 6.9 | 1.6 | New Zone |
| MO-16-157 | 210.1 | 211.4 | 1.4 | 4.0 | South |
| MO-16-158 | 15.8 | 19.3 | 3.6 | 3.9 | South |
| MO-16-159 | 13.3 | 27.2 | 13.8 | 6.9 | South |
| MO-16-161 | 312.3 | 315.1 | 2.8 | 6.5 | New Zone |
| MO-16-162 | 84.0 | 90.7 | 6.7 | 2.3 | New zone (O’Brien) |
| MO-16-163 | 61.5 | 62.5 | 1.0 | 2.0 | South |
| MO-16-164 | 249.4 | 250.9 | 1.6 | 9.2 | New Zone |
| MO-16-165 | 54.9 | 55.8 | 1.0 | 9.8 | New Zone |
| MO-16-165 | 368.9 | 374.4 | 5.5 | 6.5 | New Zone |
| MO-16-166 | 249.1 | 256.4 | 7.3 | 2.3 | South |
| MO-16-166 | 381.1 | 392.1 | 11.0 | 4.2 | New Zone |
| Including | 382.6 | 385.4 | 2.7 | 6.6 | New Zone |
| Including | 390.2 | 392.1 | 1.8 | 11.2 | New Zone |
| MO-16-167 | 53.1 | 54.1 | 1.0 | 2.3 | South |
| MO-16-168 | 128.4 | 133.1 | 4.6 | Low value | South |
| MO-16-169 | 146.0 | 162.7 | 16.7 | 1.9 | New Zone |
| Including | 149.7 | 152.4 | 2.7 | 3.3 | New Zone |
| Including | 154.3 | 156.2 | 1.9 | 3.3 | New Zone |
| Including | 161.6 | 162.7 | 1.1 | 8.4 | New Zone |
| MO-16-171 | 96.1 | 99.0 | 2.9 | 1.7 | South |
| MO-16-172 | 538.9 | 540.2 | 1.3 | 1.1 | South |
| * | Core length |
Metanor estimates that the mineralized intercepts’ true thicknesses are about 60 to 80% of the drill cores. A capping of 31 g/t was used or 1 Au ounce. Metanor 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 insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. All statements in this discussion, other than those of historical fact, that address future exploration drilling, exploration activities and projected exploration, including costs and other estimates upon which such projections are based, and events or developments that the company expects, are considered forward-looking statements. Although the Company believes the expectations expressed in these 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 forward-looking statements.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
431,439,449 outstanding shares
A map is available at the following address: http://media3.marketwire.com/docs/160613_MTO_map.pdf
Ronald Perry
Vice-president
514-262-8286
rperry@metanor.ca