|By Marketwired .||
|August 20, 2013 09:22 AM EDT||
VAL-D'OR, QUEBEC -- (Marketwired) -- 08/20/13 -- Ressources Metanor Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide this update on the development activities underway at its Bachelor project.
Metanor produced 2,822 ounces of gold during the month of July. The ounces produced in July came from development and stope ores for a total of 17,403 tonnes of ore at a combined grade of 5.21 grams / tonne with a 96.9% recovery. The grade went up to 5.21 in July, from 5.16 in June, after the commencement of the mining of stope 13-0-02 in the last few days of July, according to preliminary estimates. For instance, the mill produced over 166 oz. per day, during six separate days in the beginning of August, indicating a grade of 7.29 g/t for those days. The actual grade contribution of this stope will be established once the reconciliation of the August production in completed in early September. The tonnage in July is lower when compared to the tonnage in June (20 031 tonnes). This can be attributed to the blasting in early July of a stope which generated larger fragments which in turn slowed down hoisting for a few days. However, fragmentation from blasts which occurred in the last 2 weeks of July generated far better results.
The development on level 10 began in July. The mining activities continued on level 14, 13, 12 and 11 in July. On level 13, the development continued toward the west zone of the mine where an enlargement of the "Main" vein was identified. The long hole production drilling continued in July in three different stopes to eventually have three active stopes. This increase in active stopes will enable the company to increase the tonnage milled per month.
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.
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.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Ronald Perry, Vice-President