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Richmont Mines Inc.
Summary
| Project: | Island Gold Mine | |
|---|---|---|
| Deposit: | Island Gold Mine | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/29/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Active Mining & Production | |
| Report details: | 29-5-2017: Richmont Mines Inc. announces a PEA report for its Island Gold Mine deposit at the Island Gold Mine project. PEA results incl. post-tax NPV(5%) of US$335, 8yr mine plan. In a press release dated May 29, 2017, Richmont Mines Inc. (“Richmont” or | |
| Resources: | (Reserve, P+P): 2.551Mt @ 9.17g/t Au for 752.2koz Au contained at project | |
| CP/QP: | [Resources]: Daniel Adam, Raynald Vincent (Soutex Inc.;Internal) | |
| ABSTRACT: | In a press release dated May 29, 2017, Richmont Mines Inc. (“Richmont” or the “Corporation”) announced the results of an Expansion Case Preliminary Economic Assessment (“PEA”) completed on the Island Gold Mine, located in Northern Ontario, Canada. This report conforms to National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”). The objective of the Expansion Case PEA was to consider the most cost and capital effective strategy to mine the portion of the mineral resources that are located within the main area of interest over four mining horizons, to a maximum depth of 1,000 metres below surface, using the current mine infrastructure. For the purpose of clarity, the entire Expansion Case PEA study has been included in Section 24 of this report. Resource and Reserve estimates as at the end of 2016 (publicly disclosed by Richmont Mines Inc. in the NI 43-101 report “Technical Report on the Mineral Reserve and Resource Estimates as of December 31, 2016 for the Island Gold Mine” March 17, 2017) wer This report provides a description of the overall work completed, as well as the parameters used for the PEA study and for the estimation of the Island Gold Mine Mineral Resources and Mineral Reserves as of December 31, 2016. The purpose of this report is to support the disclosure contained in the May 29, 2017 PEA press release that incorporate the 2016 Mineral Resource and Mineral Reserve estimates. Historical details, geological information (local and regional) and general information relevant to the Island Gold Mine are also described within the report. e used as the basis of the PEA study. | |
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