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Market: TSX-V
Sector: Gold Mining
Epic: TSX-V:MTO
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Web Site: Metanor Resources
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Metanor Resources

Metanor Resources

Metanor Resources is engaged in the exploration and development of mining properties with a view towards their commercial operations, with the specific focus on the development of gold deposits. MTO owns three mining properties located in Québec and hold an option to acquire a property located in Sudbury, Ontario
Thursday, November 20, 2008

Metanor Resources Inc. – Discovers a new gold bearing zone

by Sam Kiri company news image

Canadian Venture listed Metanor Resources Inc. (MTO: TSX-V) has discovered a new gold bearing zone following a stripping campaign carried out on its Hewfran property, located in Quebec. Hewfran comprises 38 claims covering an area of 683 hectares, and is immediately located to the west of the Bachelor Mine. The Hewfran property was explored during the Eighties by two underground galleries starting from the Bachelor Mine (levels 6 and 8) and had many diamond drilling holes (on the surface and underground). The geological units and the extensions of the mineralized zones of the Bachelor Mine are present on this block of claims.

The new gold bearing zone corresponds to a broad zone of intermediate to mafic volcanic rocks strongly hematized, fractured and injected of quartz-carbonate-pyrite veins. The West Zone was exposed over a horizontal distance of approximately 40 meters and a thickness reaching 6 meters. The new gold bearing mineralized zone is intersected by a second north east striking sheared gold bearing mineralized zone. The two orientations of the mineralized structures of the West Zone correspond to those of the A zone and the Main zone of the Bachelor mine.

Grab and chip samples taken along the East-West mineralized zone returned values reaching 7.21 g/t Au and the grab and chip samples taken along the north east striking sheared zone returned values reaching 17.5 g/t Au. A channel sample taken at the intersection of these two sheared and mineralized structures returned a value of 2.62 g/t Au over 6.0m including 5.20 g/t Au over 2.5m. Grab samples taken in the prolongation more to the south of the hematized sheared zone returned gold values varying between 10.30 g/t and 24.30 g/t Au.

The discovery of this new gold bearing zone on surface is an important development as it warrants new exploration programs of all the area located close to surface and immediately to the west of the old Bachelor mine. A drilling campaign has just begun in this sector and the MTO is hopeful that the results of this exploration program should significantly increase the resources of this gold bearing zone.





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