Metanor Resources (MTO.V) has announced more drill results from its underground drill program at Bachelor Lake, Québec where it’s drilling with no less than four drill rigs drilling approximately 2,500 meters per month. Drilling has now confirmed the A-vein (which was encountered during the construction of a development drift) is extending between levels five and six. Of interest are the intercepts of in excess of 10 meters grading 9.5g/t and 4.6 meters containing over half an ounce of gold per tonne of ore.
At the Hewfran zone, drilling continues to intercept interesting intersections such as 3 meters at 13.1 g/t gold and 3.6 meters at 7.2g/t. This bodes well for a further expansion of the current resource estimate which will result in a longer mine life.
Meanwhile, Metanor has also announced it produced over 12,600 ounces of gold in the first quarter of this year, and the company seems to be fully on track to produce in excess of 50,000 ounces of gold in 2014. We are very happy to see the feed grade and recovery rate remain stable, resulting in a predictable operating cash flow.
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Disclosure: The author holds a long position in Metanor Resources. Metanor is a sponsor of the website. Please see our disclaimer for current positions.
