VAL D'OR, QUEBEC--(Marketwire - Feb. 19, 2009) - Metanor Resources Inc. ('the Company') (TSX VENTURE:MTO) is pleased to provide the following update on its present operations. With respect to milling operations, during December 2008, the company began its effort to gradually raise the operating capacity of the mill at the Bachelor Lake Complex, modifications and new motors have been installed and Serge Roy, Chairman and CEO and Ghislain Morin, President and COO are both pleased to report that "As of today, the mill is currently operating at an increased capacity of over 800 tons per day (tpd), an increase of 15% in efficiency, all at a minimal cost. With these modifications in place and an ongoing efficiency improvement plan, we feel our continued expansion of the mill will get us to 1000tpd very quickly." Further, the company has poured more than 20,000 oz. of gold to date.
Metanor has commenced work to go underground at Bachelor Lake towards the development of the Hewfran section via level 6 and 8 where there are proven reserves. The shaft rehabilitation is in process, the shaft is totally dewatered to 1,700 feet. A crew is diligently working on changing the guides, wall and hand plates, refurbishing the rock catcher and landry. Further, they are also changing stairs in the man-ways. Ron Perry, Treasurer stated "This development will enable Metanor to better manage the grade going to the mill, extend mine life, manage cash flow and continue exploring our properties. By being able to mix high grade underground Bachelor/Hewfran ore with lower grade Barry ore provides the Company with greater flexibility in controlling its overall costs as well as its revenue stream".
78,957,782 outstanding shares |
