.Metanor Produces 2,236 oz of Gold in January at i
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.Metanor Produces 2,236 oz of Gold in January at its Bachelor Project
VAL-D'OR, QUEBEC--(Marketwire - Feb. 7, 2013) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to release an update regarding the current development of its Bachelor project.
Metanor produced 2,236 oz. of gold in January, compared to 1,718 oz. in December, bringing the total production since July 2012 to 10,111 oz. of gold. The ounces produced in January come from 13,871 tonnes of ore grading 5.18 grams per tonne recovered at 96.8%. This 30% increase of ounces in one month is related to the start up of more production stopes in January. The average monthly grade was lower than December because of the mining of one stope at a lower grade. The average monthly grade in February is expected to be higher than January.
The average tonnage in January was 447 tonnes per day (Tpd) compared to 275 Tpd in December. The commissioning of new stopes in the coming weeks will allow the company to step up its production, and eventually start its commercial production. Metanor will publish a press release regarding its production update between March 6th and 14th 2013.
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. Maintaining a low risk profile through a strong operating team, sound financial management, and operating in secure jurisdictions like Quebec are key priorities for Metanor's management team.
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".
237,650,916 outstanding shares
Contact Information:
Ronald Perry
Vice-President
514-262-8286
rperry@metanor.ca
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