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Richmont Mines Inc.
Summary
| Project: | Island Gold Mine | |
|---|---|---|
| Deposit: | Island Gold Mine | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 7/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-7-2017: Richmont Mines Inc. announces an Exploration/Drilling Update report for its Island Gold Mine deposit at the Island Gold Mine project. Drilling results incl. 4.90m @ 261.46g/t Au from 188.60m. TORONTO, July 27, 2017 /CNW Telbec/ - Richmont Mines | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Daniel Adam (Internal) | |
| ABSTRACT: | TORONTO, July 27, 2017 /CNW Telbec/ - Richmont Mines Inc. (TSX: RIC) (NYSE: RIC) ("Richmont" or the "Corporation"), is pleased to provide an update on its strategic exploration drilling program currently underway at the cornerstone Island Gold Mine. Recent exploration drilling has intersected high-grade, wide mineralization in the down plunge extension of the main Island Gold deposit with Hole MH8-4 intersecting 19.85 g/t gold over 8.4 metres (true width). "Our deep directional drilling further confirms the continuation of high-grade, wide zones located in the down plunge extension of the main deposit and we see significant potential to increase mineral resources at depth. Concurrently, we are very encouraged with the results reported from the eastern lateral extension of the main deposit where we anticipate adding near-mine resources that could be incorporated into the current mine plan," stated Renaud Adams, CEO. He continued, "As our ongoing drilling continues to demonstrate the resource potential of the Island Gold deposit, we remain confident that we will extend the mineralized resource blocks located outside the Expansion Case PEA area with quality high-grade ounces. Over the balance of the year we will continue to advance our disciplined drilling program with an overall focus on identifying the next million ounces of gold resources located outside the PEA." The successful 2016 deep drilling program identified a new large inferred resource block of 760,000 tonnes at a grade of 9.53 g/t gold (containing approximately 230,000 ounces, assays capped at 70 g/t gold) in the down plunge extension, located between the 1,050 and the 1,300 metre levels. The main objective of the 2017 deep directional exploration drilling program is to prove the high-grade extension of the new resource block to a minimum vertical depth of 1,500 metres. Results to date include three significant intercepts (Table 1) (All results are reported with estimated true widths and assays capped at 70 g/t gold.): | |
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