VAL-D'OR, QUEBEC--(Marketwired - July 11, 2013) - Ressources Métanor Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide an update on the development activities underway at its Bachelor project.
Metanor produced a record of 3,215 ounces of gold during the month of June. The ounces produced in June came from development and stope ores for a total of 20,031 tonnes of ore at a combined grade of 5.16 grams / tonne with a 96.8% recovery. During the month, the mill processed 807 tonnes in one day on two occasions, exceeding the maximum theoretical capacity of 775 tonnes per day as published in the 2011 Prefeasibility study.
The development on levels 14 and 11 continued in June. On level 13, the development began toward the west zone of the mine where we identified an enlargement of the 'Main' vein. The long hole production drilling continues in July in three different stopes which will create three active stopes. Since the beginning of 2013, the company has operated with only one to two active stopes. This increase in active stopes will permit the company to increase the tonnage milled per month toward an eventual commercial production.
About Metanor
Metanor is a Canadian based gold mining company with a focus on adding value per share through efficient production, exploration, and development of it properties.
Qualified Person
Pascal Hamelin, P.Eng, Vice-president of Operations, is the Qualified Person under NI 43-101 responsible for reviewing and approving the technical information contained in this news release.
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in forward-looking statements.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
277,716,066 outstanding shares
Contact Information:
514-262-8286
rperry@metanor.ca