Metco Resources Inc.: Resources Update of the Orphee Deposit
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MONTREAL, CANADA--(Marketwire - Feb. 7, 2008) - Metco Resources Inc, ("Metco") (TSX VENTURE:MKO) is pleased to announce the release of an NI 43-101 compliant resource update on the Orphee Deposit, located in the Lebel-sur-Quevillon mining camp. The resource update dated Feb 6, 2008, was prepared by Scott Wilson Roscoe Postle Associates Inc. ("Scott Wilson RPA"), of Toronto. The resource update forms an integral part of the Orphee Pre-Feasibility Study being prepared by Scott Wilson RPA, who are responsible for geology, diamond drilling programs and mineral resource estimation, and GENIVAR Limited Partnership ("Genivar"), a Quebec City engineering firm, responsible for mining methods, mineral reserve estimates, metallurgy, infrastructure and economic evaluation. The Orphee Deposit is held in a 50:50 joint venture with Breakwater Resources Ltd. ("Breakwater").
The mineral resources of the Orphee Deposit were re-estimated by Scott Wilson RPA and stand at:
Indicated category: 607,000 tonnes @ 6.6% Zn, 0.44% Cu, 14 g/t Ag and 0.12 g/t Au
Inferred category: 276,000 tonnes @ 7.0% Zn, 0.79% Cu, 13 g/t Ag and 0.08 g/t Au
The mineral resources were estimated utilizing the following assumptions:
- Metal prices: Zn: US $1.12/lb, Cu: US $2.55/lb, Ag: US $12.00/oz;
- Exchange rate: Can $ 1.09 per US $;
- Cut-off NSR of $80/t.
The previous historical mineral resource estimate for the Orphee deposit included inferred resources of 1,800,000 tonnes @ 4.25% Zn, 0.54% Cu and 11.75 g/t Ag. The historical mineral resources, estimated by Cambior Inc. in 1998, were classified as inferred resources in accordance with NI 43-101 following a review of the description of the methodology and drill hole spacing used, by Yvan Bussieres, eng, and Donald Theberge, eng, M.B.A. (Technical Qualification Report NI 43-101 on "Les proprietes du secteur Lebel-sur-Quevillon, Quebec" dated November 15th, 2005 and filed on SEDAR).
The corporate strategy of Metco is to search for, acquire, explore, and develop mining properties with a high potential for base metals throughout Canada. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Florent Gauthier, P.Eng. is the qualified person who has reviewed the content of this news release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Metco Resources Inc.
Florent Gauthier
President
514-875-6279
514-954 9673 (FAX)
info@metco.ca
or
SOLAK Communications
Francois Kalos
450-993-0828
kalos@solak.ca