Profile
An eye toward the future
Metanor Resources Inc. is a Canadian based advanced stage exploration company with five gold properties, four in Quebec and one in Ontario, located in the heart of historically prolific mining areas. The properties Bachelor Lake/Hewfran, Barry, and Dubuisson contain a total of about 1.6 million ounces of gold (NI 43-101, all categories).
The Bachelor Lake fully functional 1,200 tpd (tons per day) Mill and Mine infrastructure would probably have a replacement cost of over $150,000,000 and take 3 years to build.
Beginning in 2012, the Bachelor Lake Mine and Mill will ramp up to 60,000 oz. annual production using only 800 tpd of the total capacity of 1,200 tpd.
Metanor Resources Inc. has been a gold producer since 2007 when it began mining the Barry open-pit deposit and milling ore at the Bachelor Lake mill. Cash flow generated by the mining of the Barry deposit allowed Metanor to conduct underground development and exploration work on the Bachelor Lake property at the same time.
The recent 43-101 at Barry showed an avg grade of 1.3 g/t for all categories, and the original resource of 100,000 oz (all categories) has increased tremendously to almost 800,000 oz. In 2010, major work was completed on the Bachelor Lake property including installing a new 10-foot hoist, raising the headframe, hiring a contractor to carry out shaft repairs, preparing and installing equipment for sinking the shaft, and setting up new administrative buildings and new bunkhouses.
The shaft sinking of 536 feet was completed at the end of July 2011 and on budget, including the development of the 2 shaft stations (Levels 13 – 14).
Metanor is now conducting the change-over to lateral development, to be in full production in the third quarter of 2012, and is also preparing a strategic plan for the Barry property.
Metanor’s three other sites have an excellent future as outlined in this website under ‘Properties’.
Mission and Values
Our values drive our actions
At Metanor Resources, we believe in sustainable economic development backed by safe, profitable and socially responsible practices.
Our mission is to support development projects underway as we maximize the mining potential of sites already in operation. We aim to offer investors exceptional returns thanks to the historically high price of gold, the main ore that we mine.
We draw on the proven expertise of recognized specialists and act with integrity at all times. Constantly on the lookout for new growth opportunities, we set priorities and always strive to respect them.
With health and safety a top concern, we work closely with our peers to guarantee our employees and the community the safest conditions possible. To offer future generations a healthy and enhanced environment, we diligently assess the impact of all our activities and take steps to minimize our ecological footprint.
These values drive our actions and influence our decision-making as we manage the opportunities and responsibilities of a serious company working in today’s mining industry.
