Thursday, 13th March 2008 (1663 views)

Exploration firm Metanor Resources has acquired new properties with "strong gold potential" near the Barry gold deposit in northern Quebec, the company has announced.

The company said it acquired the block of claims after surface sampling carried out in 2007 returned "excellent" results. It added that "very encouraging" preliminary results have been returned from ongoing bulk sampling at the property, while another recent study had identified a number of potential gold and copper targets.

Overall, the new property comprises 112 mining claims over approximately 2,920 hectares that are divided into two blocks - one to the south-east and one to the north-east of the existing Barry deposit.

The south-east block covers volcanic units situated within the same system that hosts the Lake Rouleau deposit, which has resources of 544,000 tonnes graded at 7.2 g/t gold.

Meanwhile, the north-eastern claim block includes 82 claims attached to the southern tip of the Barry property. Metanor said it covers several aeromagnetic anomalies associated with the south-western extensions of volcanic and intrusive horizons that have returned "many" gold showings.

The Barry deposit sits within the Urban-Barry greenstone belt around 65 kilometres south-east of the Bachelor Lake gold mine. Its resources are estimated at 35,500 ounces of gold in the indicated category and 67,600 ounces of gold in the inferred category.

 

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