Metanor Resources Announces 1,079 Ounces of Gold Poured in a Week at Bachelor Mine
Metanor Resources Inc. announced of Val D’Or, Quebec announced what it termed a “record gold pour of 1,079 ounces” last week. This output represents a week's worth of production from the Metanor’s Bachelor Mine or a little over 200 oz. per day.
“We are very proud of the continuous efforts provided by all our employees and their contribution towards Metanor's goal of attaining commercial production responsibly and in a secure environment,” said Ghislain Morin, President and CEO.
Metanor reached commercial production at Bachelor Mine on November 2, having operated for a period of 60 consecutive days prior to that, at over 80% of its theoretical mill capacity with an average of 629 tonnes per day.
During the 60 day period in September and October 2013, the mill processed 37,743 tonnes of ore. Metanor indicated it plans to maintain the milling rate over 18,500 tonnes per month producing close to 10,000 ounces per quarter.
The company anticipates that its operating cash cost will be near $1,000 per ounce in the next months, and forecasts a decrease in the operating cost once in full production. Metanor expects to produce over 40,000 ounces for the year ending June 30th, 2014.
The company maintains its objective of increasing the production at its Bachelor Mine toward 713 tonnes per day, as established in the prefeasibility study published in April 2011. Also, the company continues to drill underground in order to maintain its gold inventory at Bachelor Mine.
At the time of Metanor’s coming into production on November 2, 2013 Ghislain Morin, president and chief executive officer, and Serge Roy, executive chairman of the board, released a statement saying: “To reach commercial production at Bachelor Mine is an important milestone for the company that we can proudly take credit for. We want to personally thank all our employees, suppliers, financial partners such as Sandstorm, Ressource Québec and our shareholders, as well as members of the Cree Communities and James Bay communities for their effort and support.”
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. Its Bachelor Mine Property is located near Val D’Or, Quebec.
Pascal Hamelin, P.Eng, Vice-president of Operations, is the Qualified Person under NI 43-101 responsible for reviewing and approving the technical information released by Metanor. The information released by Metanor contains 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.
For more information
Ronald Perry, Vice-President
514-262-8286
rperry@metanor.ca
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