Record Production at Bachelor Mine; Metanor Produces 5,202 Ounces of Gold in May
June 5, 2014 (Source: Marketwired) — Metanor Resources Inc. (“Metanor”) (TSX VENTURE:MTO) is pleased to announce that it has produced 5,202 ounces of gold in May.
A total of 21,361 tonnes of ore at a feed grade of 7.81 grams / tonne were processed during the month of May with a 97.0% recovery rate.
The feed grade at the mill continuously increased in the last few months with the beginning of the extraction on level 14, particularly the stope 14-0-03. This grade increase is triggered by certain sectors of the mine with higher grades, and above all, an improvement of our underground ore dilution control by our teams at the mine.
Ghislain Morin, President and Chief Executive Officer, and Serge Roy, Executive Chairman of the board both stated that: « This production record at the mine shows us the quality of our ore resources, as well as the efficiency of our teams, infrastructures, and equipments allowing us to maximise the gold extraction. »
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.
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.
296,557,733 outstanding shares
Raj Shah has been a member of the InvestorIntel.com team for the last nearly 9 years. Recruited from Merrill Lynch, he has over 13 years’ ... <Read more about Raj Shah>