Metanor Resources (MTO.V) has now completed almost 15,000 meters of drilling at Moroy, which means the company has now drilled almost a quarter of the 60,000 meters it intended to drill to come up with an initial resource estimate at Moroy. This part of the drill program was focused on evaluating the structural controls of the gold zones which could be interesting considering the drill bit seems to have intersected no less than three different gold zones.
The grades in the drill holes are acceptable with for instance 2.4 meters of 4.7 g/t and 10.9 meters at 2.5 g/t, but these intervals don’t come anywhere near the average grade of the nearby Bachelor Lake mine where Metanor is processing ore with an average head grade of 5-6 g/t. Fortunately there were also some higher grade intervals at Moroy with 1.6 meters of 9.2 g/t, one meter of almost 10 g/t and almost 2 meters of 11.2 g/t gold, so it could be very interesting to see what kind of model a structural geologist could come up with.
Metanor has been halted, and we’re waiting to see why.