NR - Metanor Intersects 29.63 g/t Over 4.42m
posted on
Jan 21, 2013 09:40AM
Metanor (MTO-V) is a new Canadian Gold Producer located in Quebec. It reached commercial production on December 1, 2013 and will produce 50,000 oz in calender 2014 with a present all-in cash cost of $1,018US.
http://www.marketwire.com/press-release/metanor-intersects-2963-g-t-over-442m-1479-g-t-over-1402m-1919-g-t-over-848m-its-bachelor-tsx-venture-mto-1747673.htm
January 21, 2013 08:30 ET
VAL-D'OR, QUEBEC--(Marketwire - Jan. 21, 2013) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to release an update regarding the current drilling program at its Bachelor project.
Following the bulk sampling program of 5,000 tonnes in July (Refer to press release dated July 12th 2012), the company did significant progress in developing its underground infrastructure required to eventually begin its commercial production. In November 2012, the company began its long hole stoping activities in certain stopes, allowing the increase in monthly production (Refer to press release dated December 11th, 2012).
In parallel, Metanor continues the underground drilling program of the «Main» «A» and «B» veins, from various levels of the Bachelor mine. Recently, the company focused at verifying the lateral extensions of these veins on level 13:
The table below summarize the significant intersections obtained:
Drill hole | From (m) | To (m) | Width (m) * | Grade g/t Au | Zone |
East Sector | |||||
13-040 | 23.80 | 27.07 | 3.27 | 8.01 | A |
13-041 | 34.32 | 37.19 | 2.87 | 12.95 | A |
13-042 | 54.71 | 63.19 | 8.48 | 19.19 | A |
13-043 | 77.75 | 81.90 | 4.15 | 5.56 | A |
13-044 | 60.05 | 65.13 | 5.08 | 2.77 | A/P |
13-045 | 75.47 | 80.04 | 4.57 | 8.56 | A/P |
13-046 | 92.69 | 97.11 | 4.42 | 29.63 | P |
13-047 | 96.01 | 100.61 | 4.60 | 5.73 | P |
13-048 | 122.04 | 122.38 | 0.34 | 8.53 | P |
13-049 | 87.08 | 89.18 | 2.10 | 3.79 | P |
13-050 | 90.40 | 91.24 | 0.84 | 9.20 | A/P |
13-050A | 77.08 | 80.22 | 3.14 | 4.79 | A/P |
West Sector | |||||
13-051 | 3.60 | 4.75 | 1.15 | 18.50 | B |
18.29 | 21.18 | 2.89 | 14.70 | P | |
13-052 | 8.56 | 10.52 | 1.96 | 14.54 | B |
13-053 | Verify the hanging wall going south | Nil | |||
13-054 | 1.77 | 7.19 | 5.43 | 5.87 | B |
13-055 | 8.72 | 11.66 | 2.94 | 12.44 | B |
34.53 | 48.55 | 14.02 | 14.79 | P |
* : All intercepts represent the true core length
Metanor is very encouraged by the progress realized to date in regards to the production ramp up of its Bachelor Project, and by the results obtained in its diamond drilling campaigns. The last drilling campaign realized on level 13 allowed the extension of the veins 100 meters east, and 60 meters west of the existing ore zones on level 13. The company immediately decided to develop a drift toward the new sectors. A diamond drill was relocated to level 12 to continue the drilling of the new sectors at an higher elevation.
The true width is approximately 90% of the core length obtained in diamond drill holes targeting the western sector. The true width is approximately 70% of the core length obtained in diamond drill holes targeting the eastern sector. The samples were assayed by fire-assay at the Metanor assay lab. The quality control program of the assay results (QA QC) adopted by Metanor includes a minimum of 10% of controlled assays being conducted as well as verification by an independent external assay lab.
Ghislain Morin, President & CEO stated, "We are very pleased to see our current resource extending east and west. These are additional ounces accessible through a short 40 meters drift. This drift will also allow us to increase our geological knowledge of the ore body, and potentially add more resource."
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. Maintaining a low risk profile through a strong operating team, sound financial management, and operating in secure jurisdictions like Quebec are key priorities for Metanor's management team.
Qualified Person
Pascal Hamelin, P.Eng, Vice-president of Operations, is the Qualified Person under Regulation 43-101 responsible for reviewing and approving the technical information contained in this news release.