Canadian Mining Journal

News

GOLD: Island mine racks up record near-15M oz in Q2

ONTARIO – Richmont Mines of Montreal says its Island gold mine near Wawa produced a record setting 14,997 oz of gold during Q2 2015. Average daily mill throughput was 787 t/d.



ONTARIO – Richmont Mines of Montreal says its Island gold mine near Wawa produced a record setting 14,997 oz of gold during Q2 2015. Average daily mill throughput was 787 t/d.

Add to the Island output that from the Beaufor, Monique and W Zone mines in Quebec, and the company produced a record total of 26,314 oz. Sales of 27,566 oz pushed quarterly revenue to a record $40.6 million. The average realized price per oz of gold was US$1,194.

Richmont says the excellent results from the Island mine were due to two factors. One, ongoing improvements at the mine have boosted average daily ore production to 759 tonnes. And two, ore from the Goudreau zone and development below 400 metres combined to boost recovered ore grades.

Development work at the Island mine advanced with the main access ramp reaching a depth of 700 metres as at June 30, on plan and on budget. The 620 metre level exploration-definition drift has been extended to a total length of 478 metres, and the underground exploration drilling campaign to test the eastern down-plunge of the research envelope was initiated in early June.

Information about all of Richmont’s gold mines and projects is available at Richmont-Mines.com