Apr 28, 2010 08:15 ET
Metanor Pours 100th Gold Bar
VAL-D'OR, QUEBEC, CANADA--(Marketwire - April 28, 2010) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is very pleased to announce that it poured its 100th gold dore bar. At its 100% owned Bachelor Lake Mill. The ore comes from the very promising Barry open-pit gold mine. The mill initially started operating at 450 short tons per day (tpd) capacity and in the last two years has had three capacity upgrades. Firstly, to 700 metric tpd, then subsequently to 800 metric tpd and recently to 1,200 metric tpd capacity. The mill is currently operating at close to 1,100 metric tpd slowing increasing to full capacity with a 94-95% recovery rate.
The decision to increase the capacity of the mill was due in part to the continuing remarkable results of the 20,000 meter drilling campaign on the Barry property. This drilling campaign that was conducted during 2009-2010 and confirmed the significant gold potential of the property. (Reference: the following press releases 2008-2010).
January 13, 2010 = 3.42 g/t over 22.4 m |
January 7, 2010 = 3.49 g/t over 45.6 m |
September 24, 2009 = 9.24 g/t over 33.0 m |
June 11, 2009 = 10.4 g/t over 7.65 m |
April 14, 2009 = 48.9 g/t or 5.19 g/t (cut to 34.28 g/t) over 12.27 m |
April 14, 2009 = 4.86 g/t over 27.0 m |
September 18, 2008 = 6.12 g/t over 37.8 m |
The Barry open pit is located 10 km from the Windfall property presently owned by Eagle Hill Exploration (EAG - V) which recently announced very promising drilling results, further demonstrating the potential of a new Quebec mining camp in the Barry-Urban township.
An independent firm is currently performing a recalculation of the Barry property resources. This study will permit Metanor to produce a new report NI 43-101 originally forecasted for the end of this month. The report should be available on SEDAR by the end of May 2010. Mr. André Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.
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