Operator

Metanor Resources Inc.

Terms

20% Stream

Acquisition Date

2011 / Jan / 14

Bachelor Lake is a greenstone hosted, structurally controlled alkalic-magmatic gold deposit that was host to a producing mine during the 1980’s. Metanor Resources acquired the property in 2004 and undertook major upgrades to the existing mine and mill infrastructure including the installation of a carbon-in-pulp process plant as well as shaft development work.

The Bachelor Lake mine reached commercial production in 2013 as a long-hole underground mining operation with mill capacity of 700 tpd. It has since produced close to 200,000 ozs of gold and the mill has averaged recoveries of between 96% and 98% since its commissioning. The Bachelor Lake deposit remains open in several directions and exploration diamond drilling is ongoing in order to replace the mined ounces of gold. As part of that effort, Metanor has been developing an access ramp towards mineralized zones allowing for exploration and development on additional levels.

Metanor plans to increase production at Bachelor to 50 kozs of gold per year and to increase the mill capacity to 2,400 tpd in order to accommodate ore from the company’s Barry project, located 100 km from the Bachelor mill.

Recent Activities

January 2018
Underground exploration has extended the known depth of the Moroy veins to more than 100 vertical metres. Highlights include 3.9 metres of 7.0 g/t gold from 346.6 metres.

December 2017
The 2018 goals for the Bachelor project include increasing gold production to 50 kozs, accessing and developing the Moroy deposit, exploring Bachelor and Moroy at depth as well as regional exploration in the Bachelor camp.

November 2017
The Bachelor mine produced 23,983 ounces during the first nine months of 2017. Exploration results were released from the Moroy deposit including 41.8 g/t gold over 1.2 metres from 375.3 metres.

Bachelor Lake

 

Bachelor Lake Royalty Map
Bachelor Lake Royalty Map