Metanor Produces 2,354 Ounces in May and Intersects 5.58 g/T Over 21 M

 

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VAL-D'OR, QUEBEC -- (Marketwired) -- 06/06/13 -- Ressources Metanor Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide an update on the development activities underway at its Bachelor project.

Metanor produced 2,354 ounces of gold during the month of May. The ounces produced in May came from development ore and also some from stopes for a total of 16,685 tonnes of ore at a combined grade of 4,53 grams / tonne with a 96,9% recovery. During the month, the mill processed 794 tonnes in one day, exceeding the maximum theoretical capacity of 775 tonnes per day as published in the 2011 Prefeasibility study.

Ore development on level 14 began in May; 1,974 tonnes at a diluted grade of 6.8 grams per tonne were excavated from the Main and B veins. The average ore thickness of the veins extracted during the month was over 6 m on this level.

Metanor purchased two electrics scooptrams one of which is already on site, and will be operational in early July to excavate the larger stopes. In addition, Metanor awarded a contract to the mining contractor CMAC Thyssen to execute additional long hole drilling to increase the stoping ore in the coming months. The contractor will begin its production drilling contract next week.

Metanor continues the underground drilling program of the "Main", "A", "A-1" and "B" veins, from various levels of the mine. As mentioned in the April 29 and May 29, 2013 press releases available on Sedar, the company is actively verifying the lateral extensions of these veins. Since then, the drilling progressed in the western extension of the mine on level 13 and on level 14.

The table below summarize the significant intersections obtained in these structures in the last few weeks:

-------------------------------------------------------------------------Hole            From (m)      To (m) Width (m)(i)    Grade Au        Zone                                                        (g/T)            -------------------------------------------------------------------------13-069            118.87      121.31         2.44        3.81        Main-------------------------------------------------------------------------13-071            103.63      106.73          3.1        2.22        Main-------------------------------------------------------------------------13-071            130.45      131.06         0.61        4.95        Main-------------------------------------------------------------------------13-073             38.83       59.98        21.15        5.58        Main                                                                  and A-1-------------------------------------------------------------------------14-001             30.17       32.18         2.01        5.54         A-1-------------------------------------------------------------------------14-001             63.78       65.08          1.3        8.90           B-------------------------------------------------------------------------14-001             99.06      100.61         1.55       20.10        Main-------------------------------------------------------------------------

(i) : Core length

Metanor is encouraged by the progress made to date regarding the project ramp up, and by the drilling results obtained in all the campaign at Bachelor. The latest drilling completed on level 13 and 14 demonstrates again, and significantly, the extension of the mineralized structures going west, and potentially increases the available resource.

The true width is approximately 50% of the core length obtained in diamond drill holes 13-069 and 071. The true width is 80% for the hole 13-073 and 90% for the hole 14-001. 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.

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.

244,111,066 outstanding shares

Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Ronald Perry, Vice-President
514-262-8286
[email protected]

 

Source: Marketwired (June 6, 2013 - 1:47 PM EDT) 

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