Metanor Resources (MTO.V) has announced it found several intercepts of high-grade gold at its Barry project in Québec, Canada. The company has completed a program consisting of 38 drill holes for a total of in excess of 12,000 meters with as main purpose to investigate no less than 153 induced polarisation targets. All of the holes were drilled at a 1-7 kilometer distance from the Barry deposit, and the results are quite good.
At the Gold Hawk Zone, Metanor intersected 5.6 meters at in excess of 0.8oz/t at a depth of less than 200 meters. At the Moss zone, the drillers intercepted 7.8 meters at 5.18g/t gold which is also very nice. The other results weren’t as exciting because either the average gold grade was a bit low or the intercepts were relatively short. However, this drill program will have provided Metanor with a lot of useful information which could (and will) be used for another drill program at Barry. That being said, the market seems to care only about the producing Bachelor Lake project, and now the Barry drill program has been concluded, we hope the company will fully focus on increasing the resources at Bachelor Lake again.
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Disclosure: The author holds a long position in Metanor Resources. Metanor is a sponsor of the website. Please see our disclaimer for current positions.
