QUEBEC - METANOR RESOURCES of Val d'Or, Que., has received preliminary economic assessments of its Barry and Bachelor Lake properties. The report was prepared by GEOSTAT INTERNATIONAL.
At the Bachelor Lake project, site of a former gold mine near Desmaraisville, indicated and inferred resources are approximately 843,000 tonnes at a grade of 7.2 g/t Au. Additional work is required to replace the existing hoist, deepen the shaft, and conduct underground exploration and infill drilling. The work carries a projected capital expense of $18.8 million.
At the Barry gold project, 65 km southeast of the Bachelor Lake property, indicated resources are 415,000 tonnes grading 4.05 g/t Au and inferred resources are another 1.1 million tonnes grading 3.78 g/t Au. In preparation for open pit mining, bulk sampling will be performed. Additional infill drilling and surface evaluation are also required. The cost of these programs will be approximately $3.6 million. Expanding the Bachelor mill to accommodate Barry ore (to 625 t/d from 450 t/d) will cost about $5.2 million.
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