VAL-D'OR, QUÉBEC--(Marketwired - Oct. 10, 2014) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to announce that it has produced 11,598 ounces of gold during the quarter ended September 30th 2014.
A total of 56,949 tonnes of ore at a feed grade of 6.53 grams / tonne were processed during the quarter with a 97% recovery rate.
Metanor maintains its projections for the current fiscal year at 50,000 ounces of gold.
The exploration drilling during this quarter lead to the discovery of the extension of the «B» vein above level 10 (See the press release dated August 15th 2014 for the detailed results).
Ghislain Morin, president and chief executive officer, and Serge Roy, executive chairman of the board, declared: « Production at the Bachelor Mine is meeting expectations all the while giving us new zones to mine such as the «B» vein above the level 10. »
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.
296,557,733 outstanding shares
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Contact Information:
514-262-8286
rperry@metanor.ca