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12/14/10

Mining PRs and the Ottotrans™, Part 32


Today it's the turn of our old pal Metanor (MTO.v).

This is what they wrote:

VAL-D'OR, QUEBEC--(Marketwire - Dec. 14, 2010) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO - News) is pleased to provide an update on its activities at the Bachelor Lake Gold Project.
BACHELOR LAKE MINE
As mentioned in the press release dated October 4th, Metanor is beginning to sink the shaft another 600 ft to develop two new levels. These 2 levels will provide access to the lower portion of the mine's 43-101 resource and allow the completion of a bulk sample targeted at 5,000 tonnes.
On November 3rd, the mining contractor brought their shaft sinking equipment to switch from rehabilitation to sinking mode. As of December 13th, the commissioning is nearly completed and on schedule. The first blast, at the shaft bottom, is planned before year-end.
In parallel, the project team is progressing on the Pre-feasibility Study at Bachelor Lake Gold Project. Metanor has selected Stantec Inc. (TSX: STN - News) as an Independent Consultant to complete the Pre-Feasibility Study in collaboration with Metanor's project team. Before year-end, the company is planning to release the pre-feasibility numbers including the reserves for this project.
BACHELOR LAKE-POTENTIAL NEW ZONE (DIAGNOS Target)
Due to the recent excellent grab samples, Metanor initiated a stripping campaign and has removed minor surface overburden to access the structure on both sides of the main road to the mill. The structure which is visible now is close to 300 feet long by about 30 feet wide and is still open in all directions. Further, a diamond drill rig is presently on site and has commenced a 1,000m drilling campaign on this promising new zone only 3 km from the Bachelor Lake Mill. Results are pending and should be released before year-end.


And this it what it means:

VAL-D'OR, QUEBEC--(Marketwire - Dec. 14, 2010) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO - News) is pleased to provide an update on its activities at the Bachelor Lake Gold Project. We are currently spending the last chunk of money raised in the latest of a never-ending sucession of dilutive financings at a really good rate of knots and will be able to run the usual bullshit smoke and mirrors operation on you suckers once the results are in and our PR company puts together a flashy news release or two. Give it a month or two for our latest round of to da moon Alice pump jobs and we'll then run yet another dilutive financing on your hapless tushes, but don't worry 'bout that cos you can always come and visit us. We're really nice guys and you get to eat poutine once the tour is over.