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Monday, January 22, 2018 Derek Macpherson

Metanor Continues to Hit High-Grades at Barry

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Metanor Resources Inc. (TSXV:MTO) has reported drill results from its Barry project located in the Urban Barry Camp of Ontario, 110km south of the company’s Bachelor mill. The company highlighted new high-grade intercepts including 14.3g/t Au over 4.6m and 10.4 g/t Au over 4.5m, which has expanded the size of the known mineralization and further confirms the continuity of the deposit. The shear zones now span in excess of 1,500m along strike and 440m at depth (Figure 1). The deposit remains open in all directions and has significant exploration potential with multiple tensional veins within the existing shear hosted system already identified. The company has completed 49,000m of drilling in 2017 on the targeted shear structures, that are planned be followed up this year with additional exploration. Metanor is on track to increase the size of the Barry camp to better accommodate a larger exploration program in Q1 2018, which is expected to include a 10,000 tonne bulk sample from a decline from the existing pit. We expect further results from the ongoing drill programs at both Barry and Bachelor to be important near-term catalysts for the company.  read more


Thursday, January 18, 2018 Derek Macpherson

Metanor Extends Moroy Veins at Bachelor

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Metanor Resources Inc. (TSXV:MTO) reported drill results from its underground exploration activities at the Bachelor Mine, where the company is targeting the Moroy zone. The company highlighted drilling intersections including 7 g/t Au over 3.9m and 7.4 g/t Au over 2.7m, which intersected gold-bearing veins in the Moroy zone. The drilling enabled the company to extend the Moroy veins to depth by over 100 vertical meters indicating that the zone now extends from surface to a depth of below 600m. This near infrastructure target is likely to materially extend the mine-life. In addition to the positive results from exploration, the Bachelor operation has the only permitted and operating mill in the Urban Barry Camp, which is likely the most active gold camp in the world. The company is currently considering potential plans for mill expansion at Bachelor. We expect further results from the ongoing drill programs at both Barry and Bachelor to be important near-term catalysts for the company. read more


Saturday, January 06, 2018 Derek Macpherson

Site Visit: Urban Barry a New Gold Camp, Bonterra’s Tent Pitched, Building the Fire

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We view Bonterra Resources Inc. (TSXV:BTR) as having the potential to put together a sizeable high-grade resource in one of Canada’s most active exploration camps. On December 7th we visited Bonterra’s Gladiator Project in the Urban Barry Camp in the Abitibi Greenstone Belt, located approximately 170 km NE of Val-d’Or and 125 km SW of Chibougamau in the Urban, Barry and Bailly townships of Québec. read more


Friday, December 01, 2017 Derek Macpherson

MTO Steps Up Exploration in FQ1 2018

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Metanor Resources Inc. (TSXV:MTO) reported financial and operating results for the quarter ended September 30, 2017 (FQ1 2018). Gold production at Bachelor compared to the previous quarter remained relatively stable at 7,293 oz, while cash costs increased to C$1,243 from C$1,134 (Figure 1). The company ended the quarter with C$11.3 in gross revenues, selling 7,047 oz Au. Cash at the end of the quarter was C$12.7 million, a decrease over FQ4 2017 of C$19.4 million. As well net income decreased from C$1.8 million, representing a net loss of ~C$5.0 million in FQ1 2018, and -C$4.4 million in operating cash flows, down from ~C$401k in Q4 2017 and ~C$2.95 million in Q3 2017 (Figure 2). This was primarily driven by a significant increase in exploration spending (10,965m completed at Bachelor and Barry, respectively). We expect further results from the ongoing drill programs at both Barry and Bachelor to be important near-term catalysts for the company, as exploration continues.  read more


Wednesday, November 22, 2017 Derek Macpherson

RCKS Charts: MTO, OSK, SEK & ECR

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In this edition of RCKS Charts, Keith has evaluated Metanor Resources Inc.(TSXV:MTO), Osisko Mining Inc. (TSX:OSK), Secova Metals Corp. (TSXV:SEK) and Cartier Resources Inc. (TSXV: ECR). read more


Thursday, November 16, 2017 Derek Macpherson

MTO Intersects High Grade Gold at Barry

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Metanor Resources Inc. (TSXV:MTO) has reported results from its ongoing drilling program at the Barry gold deposit, which identified multiple gold-bearing zones through four drilling intercepts including 14.5 g/t Au over 2m and 5.8 g/t Au over 4.3m. The company has now identified gold-bearing structures in every sector of the deposit, which reflects the potential to expand the size and confirm the continuity of gold mineralization in these structures. The structures currently cover a total strike length of 900m and a depth of 550m, which continues to make this project very attractive for future underground extraction. We expect further results from the ongoing drill programs at both Barry and Bachelor to be important near-term catalysts for the company.  read more


Thursday, November 02, 2017 Derek Macpherson

MTO Intersects High Grade Gold at Bachelor

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Metanor Resources Inc. (TSXV:MTO) has reported results from its ongoing underground drilling program at the Bachelor Mine. In September 2017, Metanor developed its first diamond drill bay on an exploration drift that was developed form the Bachelor Mine to the south on level 11 (Figure 1). The objective of drilling was to test the extension of the Moroy vein at depth, results returned 41.6 g/t Au over 1.2m (Figure 2). Drilling will continue from this development for the following months as the company continues development south along the exploration drift towards the Moroy veins. Drift development is expected to reach the new veins in January 2018. We expect further results from the ongoing drill programs at both Barry and Bachelor to be important near-term catalysts for the company.  read more


Monday, October 23, 2017 Derek Macpherson

RCKS 5th Annual Fall Mining Showcase Presenter Preview

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On Thursday October 26, 2017, Red Cloud Klondike Strike Inc. will be hosting its 5th Annual Fall Mining Showcase. The event features presentations from 18 companies, including a themed breakfast and lunch presentation from industry leaders. For more details, please visit our event page. In this post, we provide a brief preview on the 18 presenting companies and 19 banner participants that will be in attendance.  read more


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