https://www.miningweekly.com

Metanor lifts FY gold production, sales

23rd October 2017

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – TSX-V-listed Metanor Resources produced 34 853 oz of gold for the year ended June 30, a 4.19% increase on the 33 450 oz produced in the prior financial year.

The company, which operates the Bachelor mine, in Quebec, achieved gold sales of $60.68-million at an average realised price of $1 657/oz for the financial year under review.

Metanor, which also has several exploration projects under way, spent $5.59-million on exploration and evaluation expenditures during the financial year, compared with $4.05-million in the prior financial year.

At the Bachelor mine, exploration drilling had continued in the Hewfran sector to verify the extension of the Hewfran stopes below level 14 and further west on level 8. An additional drill was mobilized in May to further explore below level 16 in the main vein.

In the next few months, Metanor will undertake underground exploration drilling at the Moroy structure south of the mine.

Meanwhile, at its Barry project, also in Quebec, Metano drilled 17 815 m during the 2017 financial year. This included the drilling of 9 955 m from 22 holes at the United pits area. “These holes have intersected several gold zones associated with shear zones, located in the southeast sector of the pits,” the company noted in a statement on Friday.

The average thickness of all intersected shears ranged from a half meter to over 9 m. Gold grades ranged from 1.5 g/t to 14.8 g/t.

The company reported a net and comprehensive loss of $404 245 for the year under review, compared with a loss of $7.32-million during the same period last year.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Projects

Showroom

SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.099 0.163s - 106pq - 2rq
Subscribe Now