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Richmont Mines Inc.
Summary
| Project: | Beaufor Mine | |
|---|---|---|
| Deposit: | Beaufor Mine | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/31/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 31-1-2017: Richmont Mines Inc. announces a Resource Estimation report for its Beaufor Mine deposit at the Beaufor Mine project. 2016 Mineral Reserves and Resources have decreased. Richmont Mines Inc. (TSX: RIC) (NYSE: RIC) ("Richmont" or the "Corporation" | |
| Resources: | (Reserve, P+P): 203500t @ 6.86g/t Au for 44920oz Au contained at project | |
| CP/QP: | [Resources]: Bernard Salmon, M. Louis Nkoy (Internal) | |
| ABSTRACT: | Richmont Mines Inc. (TSX: RIC) (NYSE: RIC) ("Richmont" or the "Corporation"), announces updated Mineral Reserves and Resources as of December 31, 2016. Mineral Reserves at the cornerstone Island Gold Mine in Ontario increased by 34% (net of depletion) to 752,200 ounces of gold, at an increased grade of 9.17 g/t gold. At the Beaufor Mine, 2016 Mineral Reserves and Resources have decreased as 2016 delineation and exploration drilling was unable to offset mining depletion and converted resources. Additionally, following a reassessment of all resource blocks, certain low-grade, currently uneconomic resource blocks located in the upper part of the mine were removed. 2017 delineation drilling will focus on extending the reserve blocks inside the Q Zone, both at depth and laterally. Exploration drilling will focus on identifying potential new veins in the vicinity of the known reserves and resources. Drilling will also focus on testing the expansion potential of the higher grade Q Zone at depth. | |
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