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News Breaks | | | | November 26, 2012 | | 09:31 EDT |  | RIC | Richmont Mines upgraded to Buy from Hold at Desjardins
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News For RIC From The Last 14 Days Check below for free stories on RIC the last two weeks. |
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| June 19, 2013 | | 08:37 EDT |  | RIC | Richmont Mines announces successful W Zone bulk sample
Richmont Mines announces a successful completion of the bulk sampling phase for its W Zone Gold Project, located in Val-d'Or, Quebec. As a result, the corporation has made a decision to proceed to the commercial production phase of the Project. Development of the W Zone to date, from which material was used to complete the 7,700 tonne bulk sample, has confirmed the corporation's understanding of the mineralized zone. Similarly, average mineralized widths were validated during development, and mill recovery rates and metallurgical results from this phase correlated with the corporation's expectations. In addition, results derived from both development and milling confirm the project's estimated reserves. Specifically, as at December 31, 2012, the W Zone Gold Project had estimated Probable Reserves of 132,251 tonnes at a grade of 7.21 g/t for 30,680 Au ounces. Monthly tonnage levels from the W Zone are expected to exceed 60% of the projected 6,000 tonne per month commercial production level over the 3 month period of July, August and September, during which a total of approximately 3,000 ounces of non-commercial gold are forecasted to be produced. The project is expected to transition into commercial production at the beginning of October, and is expected to add approximately 3,000 Au ounces to the corporation's 2013 projected gold production of 65,000 ounces, bringing Richmont's revised 2013 gold production forecast to 68,000 ounces. | |
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