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February 25, 2013
08:00 EDTRICRichmont Mines adds new high-grade inferred mineral resources of 508K Au ounces
Richmont Mines announces a first inferred mineral resource estimate for the C Zone at depth at its operating Island Gold Mine near Wawa, Ontario. New C Zone inferred mineral resource estimate of 1.5M tonnes grading 10.73 g/t Au for 508,000 ounces. The C Zone is sub-vertical, at depths of between 450 metres and 1,000 metres, and appears to be an extension of the areas currently being mined. The mineral resource has been drilled on an approximate 50 m x 50 m pattern, with 55 drill hole intercepts, about 60% of which contained visible gold; The average true width of the new C Zone at depth is estimated at 4.5 metres, compared to an average of 2.7 metres above the 400 metre level; and Preliminary metallurgical testing on representative samples have shown high recovery rates.
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September 15, 2014
08:33 EDTRICRichmont Mines commences additional deep exploration drilling at Island Gold
Richmont Mines announced that it is commencing an additional exploration drilling program from surface to test part of the down plunge projection of the Island Gold deposit. This is in addition to the remaining budgeted 2014 exploration and definition drill programs currently underway from underground. The new program will consist of four diamond drill holes for approximately 4,800 metres at an estimated cost of $0.5M. The Island Gold Mine, near Wawa Ontario, has produced over 300,000 ounces of gold from above the 400 metre level, and is expected to produce over 40,000 ounces this year. The corporation commenced more intensive drilling at depth below the mine in 2011 with favourable results driving an expanded drilling program through 2012. In February 2013, the first estimate was announced for a new 508,000 ounce inferred resource grading 10.73 g/t Au directly below the existing Island Gold Mine. Additional drilling in 2013 resulted in a doubling of this resource estimate one year later in January to 1.1M ounces grading 9.3 g/t Au. The deposit remains open along strike and at depth, which presents good potential for expanding the resource through additional exploration. As this new deposit is immediately beneath the operating mine, Richmont has extended the mine ramp to its current depth of 625 metres, which is in the upper 125 metres of the new zone.
September 10, 2014
07:27 EDTRICPrecious Metals Summit Conferences
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