Featured Article January 22, 2013:
Metanor Crosses Threshold;
Entering Steady-State Gold Production
and Cash Flow Positive Status
The now ongoing ramp-up toward Metanor's 5000 oz Gold per month run rate target is expected to be accomplished this 2013 utilizing 2/3 capacity.
Metanor Resources Inc.
(MTO.V) (MEAOF.PK) (M3R.F)
Gold Production with Exceptional Cash Flow & Resource Growth
MTO.V possesses two projects of significance located in stable, mining friendly Quebec that together have 1.6 Million oz Gold in all categories and the potential to take MTO.V to near mid-tier producer status:
1) Bachelor Mine & Mill, Quebec:
Metanor successfully completed a bulk sample of its high-grade Bachelor ore and is now undergoing a ramp-up in production that is targeting a run rate of 5,000 ounces gold per month (60,000 oz per annum) achieved this 2013 at an estimated cash cost of ~US$464/oz gold (2011 pre-feasibility by Stantec) using 2/3 capacity of the 1200 TPD mill. Bachelor is a very rich underground mine with grades upwards of 26 g/t gold with an average grade of 7.38 g/t gold (fully diluted using long hole). MTO has identified zones at Bachelor that Mining MarketWatch Journal anticipates will contribute to rapid resource growth and an extension of mine life closer to 10+ years.
2) Barry Gold Project, Quebec (located ~65 km from Bachelor): The 100% owned Barry property resource estimate now sits at 309,500 oz Gold of Indicated Resources (7,701,000 t at 1.25 g/t Au) and 471,950 oz gold of Inferred Resources (10,411,000 t at 1.41 g/t Au) and is wide open for large resource growth expansion. The current 1km strike at Barry is potentially 13km, there are in excess of 150 anomalies outside the pit area. Metanor has found the gold system at Barry and only needs to now track it. The Barry deposit is a 10M+ ounce target; the independent international professional geological firm SGS Geostat has identified Metanor’s Barry deposit as comparable in potential to rival other multi-million ounce deposits such as Osisko's Malartic gold deposit & Detour Gold's Detour deposit.