Metalore progressing with Deep, High Pressure Gas Targets & Premier/Centerra deal
Metalore Resources Ltd. (MET/TSX) is optimistic about the progress and likelihood of locating and developing deep, high pressure Natural Gas production within the established infrastructure of its existing “stand alone” gas operations. The Company’s Petroleum Consultant has just submitted a detailed Summary Report specifically identifying one high priority and one secondary area as potential targets within Metalore’s extensive land holding in South-Western Ontario.
In a press release dated February 5, 2015, Premier Gold Mines Ltd. has announced that a multi-hundred million dollar deal had been reached with Centerra Gold Mines Inc. for Centerra to acquire 50% interest in Premier’s “Trans-Canada” project and develop the “Hardrock” parcel to production. This deal would have important implications for Metalore. We hold various interests with Premier in a large number of claims, traversing a 35 mile swath, across five townships, within the Trans-Canada Gold Trend Project, including the “Brookbank” and two other 43-101 Gold Resources (Cherbourg & Fox Ear) adjoining either side of the “Brookbank”.
Total revenues (primarily from gas production) for the 9 month period (April 1 – December 31, 2014), was $655,180, yielding Net Revenue of $313,102, or $0.18 per share, compared to $745,590, yielding $74,958, or $0.04 per share during the corresponding previous year. For the three month quarter (October 1 – December 31) Net Income was $27,599, compared to $33,316 for the previous period, $0.02 per share both years.
For further information, view the Company’s quarterly report on SEDAR, or phone:
George Chilian, CEO and Director at 519 428-2464 or
Michael Dehn, Director at 416 301-4949.
Neither the TSX, its Regulation Services Provider (as that term is defined in the policies of the TSX ) accepts responsibility for the adequacy or accuracy of this release.
Contact
Metalore Resources Ltd.
George Chilian, 519 428-2464
CEO and Director
or
Michael Dehn, 416 301-4949
Director