February 6, 2006 MÉTANOR STARTS DRILLING ON WAHNAPITEI PROPERTY (SUDBURY) GOLD AND PLATINUM-PALLADIUM
Val-d'Or, February 6, 2006 - Métanor Resources Inc. « Métanor » is pleased to announce the start of a short diamond drilling program on its Wahnapitei property (Sudbury). The program is planned to test selected mineralized horizons as well as other IP anomalies defined by a previous survey. By completing the program, the Company will have incurred the required expenditures in order to gain a 90% interest in the property.
The property was recently increased in size by way of staking of two adjacent blocks totaling approximately 111 hectares, in order to cover the southwesterly and easterly extensions of the highly prospective mineralized zones which are coincident with the IP anomlaies.
Gold mineralization on the Wahnapitei property (trench zone) appears as lenses of semi-massive to massive pyrite associated with a NE shear zone (060o-070o) within an albitized quartzite, and as quartz-carbonate-pyrite-free gold veins in a conjugate system of tension veins striking NW (315o).
Selected samples (chips) taken along the NE shear zone gave values ranging from 2.0 to 41.4 g/t Au and assays reaching 0.58% Cobalt and 0.59% Nickel (quartzite sample with 5% pyrite and 25.50 g/t Au). Gold intersections reaching 16.9 g/t Au / 3.7m were obtained from channel samples (previous work). Multi-element assaying of certain portions of the mineralized zones cut by drilling confirmed the presence of Nickel and Cobalt in appreciable amounts. The best drill intersections to date are:
14.3 g/t Au over 5.9 m (SH-88-05) including 19.7 g/t Au, 0.108 % Co, 0.069 % Ni / 3.2 m
10.0 g/t Au over 4.3 m (SH-88-09) including 7.7 g/t Au, 0.175 % Co, 0.141 % Ni / 1.1 m
14.1 g/t Au over 4.6 m (SH-88-15) including 8.0 g/t Au, 0.361 % Co, 0.238 % Ni / 1.7 m
An Induced Polarisation survey (IP) completed on grid lines covering the entire property resulted in the definition of twelve (12) conductive zones within a 600 metre wide zone. The anomalies strike NE and are sub-parallel to the trench zone, and four of these are high-chargeability conductive zones. The previous drill program confirmed the association of significant sulphides with each of the IP conductors that were tested. It also confirmed the presence of platinum-palladium (PGM group) associated with pyrrhotite mineralization in gabbro and quartz-diorite units. The best values were obtained west of the trench zone (0.088 g/t Pt and 0.106 g/t Pd over 1.10m in drill hole MW-04-01) and southwest of the trench zone (0.142 g/t Pt and 0.226 g/t Pd over 2.05m in drill hole MW-04-08, and 0.141 g/t Pt and 0.165 g/t Pd over 3.95m in drill hole MW-04-09).
This type of mineralization is the same as at Falconbridge Ltd's Nickel Rim South deposit located less than 5 km to the southwest of the Wahnapitei property. At Nickel Rim, Falconbridge has released resource figures of 13.2 million tonnes grading 1.7% Nickel, 3.5% Copper, 0.04% Cobalt, 0.8 g/t Gold, 1.9 g/t Platinum and 2.2 g/t Palladium (press release ? March 11, 2004).
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