Maudore signs custom milling agreement with Abcourt Mines Inc. to treat mine production from Elder Mine
MONTREAL, Aug. 16, 2013 /CNW Telbec/ - Greg Struble, President and CEO of Maudore Minerals Ltd. (MAO: TSX-Venture; MAOMF: US OTC; M6L: Frankfurt Exchange) and its subsidiary, Aurbec Mines Inc., is pleased to announce a recently signed Agreement with Abcourt Mines Inc., an exploration and development company with strategically located properties in northwestern Quebec, to treat Elder Mine mineralized material at Aurbec's Sleeping Giant Mill.
The Elder mine is located near Rouyn-Noranda, Quebec, and the mineralized material will be transported by truck to Aurbec's Sleeping Giant Mill, which is located about 80 km north of Amos, Quebec. The Agreement is in effect for six months and it may be extended if both parties agree.
Aurbec has applied for environmental permits and authorizations to store and process the Elder mineralized material at Sleeping Giant and a Certificate of Authorization is expected soon. Shipment of mineralized material will start when this permit is obtained.
About Maudore Minerals Ltd.
Maudore is a Quebec based junior gold company with milling operations and more than 23 exploration projects, of which five are at an advanced stage toward development with reported current and historical resources. The Company's projects span some 120 kilometers, east-west, of the underexplored Northern Volcanic Zone of the Abitibi Greenstone Belt and cover a total area of 144,000 hectares (1,440 km2) with the Sleeping Giant Processing Facility within trucking distance of key development projects
Cautionary Statement Regarding Forward-Looking Statements
This release and other documents filed by the Company contain forward-looking statements. All statements that are not clearly historical in nature or that necessarily depend on future events are forward-looking, and the words "intend", "anticipate", "believe", "expect", "estimate", "plan" and similar expressions are generally intended to identify forward-looking statements. These forward-looking statements include, without limitation, performance and achievements of the Company, business and financing plans, business trends and future operating revenues. These statements are inherently uncertain and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, financial related risks, unstable gold and metal prices, operational risks including those related to title, significant uncertainty related to inferred mineral resources, operational hazards, unexpected geological situations, unfavourable mining conditions, changing regulations and governmental policies, failure to obtain required permits and approvals from government authorities, failure to obtain any required approvals of the TSXV or from shareholders, failure to obtain any required financing, failure to complete any of the transactions described herein, increased competition from other companies many of which have greater financial resources, dependence on key personnel and environmental risks and the other risks described in the Company's continuous disclosure documents.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Maudore Minerals Ltd.
More by this Source
Maudore Interprets Data Identifying Gold Discovery East of Sleeping Giant Mine
Jan 27, 2014, 10:19 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.