Concentrator ?? Has been looked at Metallurgical Study
Development work and exploration in recent years on Barry has helped significantly increase
resources; the Barry deposit now contains an indicated resource of 7,701,000 tonnes grading 1.29
g/t Au for a total of 309,000 ounces of gold, and an inferred resou
rce of 10,411,000 tonnes grading
1.65 g/t Au for a total of 431.950 ounces of gold. Since the high cost of transporting material to the
Bachelor mill reduces the deposit’s potential, the concept of building a concentrator on site,
allowing the deposit to b
e mined with high tonnage and low grade, was developed in 2010.
The
Company has therefore begun to investigate the concept of a traditional concentrator, as well as a
new concentration method developed by Nichromet Exploration Inc. (Nichromet). A first tes
t on a
20-
kilogram ore sample from Barry has shown that the process developed by Nichromet, which
starts with a concentration stage, followed by a controlled oxidation stage and finally a chlorination
step, would be effective. A sample of 100 additional kilograms of representative ore was
subsequently used to apply the Knelson concentration process industrially. Nichromet will provide
Metanor with more precise results once analysis of the additional 100 kilograms has been
completed. Metanor is still awaiting the final results of this study.
Further meetings are scheduled at Nichromet’s Thetford Mines pilot plant, at which time more
discussions will take place on the structure of an eventual business relationship between Metanor
and Nichromet Extration Inc.
, which could eventually lead to the construction of a Nichromet plant
on the Barry property in the near future to achieve mid
-tier status sooner.
Nichromet Extraction has developed a new technology using halogens for gold extraction at
atmospheric pressu
re. This process has been successfully piloted and has shown a fast recovery
exceeding 95% with no liquid or gaseous emission and no need for tailings treatment or disposal
sites. The Nichromet system is an environmentally friendly process as it is a clos
ed loop system using
a salt solution. Therefore, the tailings from the Nichromet process will be devoid of any significant
content of base metals which can generate toxic lixiviates. The Company has been recently awarded
patents for its sulfide process in the United States of America. The issue of patents by the US
Government is a strong endorsement of the originality of the Nichromet process both from a
chemistry standpoint as well as an economic standpoint: the process can recover precious metals in
a thr
ee-
hour cycle as opposed to a 40
-hour cycle for cyanide. Patents for its sulfide process have also
been issued in Cuba, Guatemala, and Peru. Patents are pending in Chile, Mexico, Canada, Indonesia,
Philippines, and the Dominican Republic (pr
January 13, 2
011).