Venture Exchange TSX-V: MTO
Shares issued: 57,199,624
VAL-D'OR, QC, May 31 /CNW Telbec/ - Metanor Resources Inc. "Metanor" (TSX-V:MTO) announces the hiring of Mr. Claude Imbeault as General Manager-Operations of the Bachelor Lake-Barry Complex. By doing so, Metanor is happy to add to its qualified management team which will concentrate on the development of its projects, targeting to be a profitable gold producer in the short term.
Mr. Imbeault is a known professional active in the mining industry for almost 40 years, namely involved in the production startup of numerous mining projects. Mr. Imbeault was recently general manager of Camroc, a mining development division of Cambior-Iamgold with a hundred employees. Further, he acquired expertise as superintendent of the Chimo and Pierre Beauchemin mines (Cambior), and also the Lake Shortt mine (Minnova) and Montauban mine (Muscocho).
Metanor started working on the rehabilitation and construction of access roads between the Barry and Bachelor Mill sites. This work will shorten the trucking distance by a 10 %, thus minimizing transportation costs between the two properties.
Metanor also significantly boosted the resources of the Barry Gold Deposit which were recently re-evaluated by Yann Camus, P. Eng. from Systemes Geostat International Inc. in compliance with NI 43-101. Indicated Resources rose nearly 50 % to an estimated 52,300 oz Au (385,000 t at 4.23 g/t Au) compared to 35,500 oz Au previously. Inferred Resources rose nearly 90 % to 126,600 oz Au (966,000 t at 4.07 g/t Au) compared to 67,600 oz Au previously. This resource re-evaluation is incorporating all recent drill results performed by Murgor (summer 2006) extending the mineralized zones almost 300 meters in a southwesterly direction. This resource re-evaluation was performed with a 2 g/t Au Cut-off and using the inverse distance method. A major portion of the resources are at, or near surface and are considered open-pitable, thereby reducing operating costs significantly.
Metanor is actually working to rehabilitate its 500 tpd gold mill on the Bachelor Property to raise its capacity to 750 tpd. Repairs to the gold mill infrastructure have been recently completed, Metanor has just initiated refurbishing work on internal components (mechanical and electrical). All of this work is currently within budget and on schedule.
Exploration work will be initiated this summer on the recently acquired properties surrounding the Bachelor Lake property, where numerous anomalies were identified.
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