ONTARIO – Partners RICHMONT MINES of Montreal and PATRICIA MINING of Toronto have boosted resources at their Island Gold project 85 km northwest of Wawa. The property is believed to host proven and probable reserves of 1.0 million t at 8.6 g/t Au. In the resources categories, the project has 454,705 t at 10.3 g/t Au (measured and indicated) and 610,728 t at 10.9 g/t Au (inferred). In all categories, there may be over 600,000 contained ounces of gold.
The complete NI 43-101 report will be filed the week of May 28 on SEDAR (www.Sedar.com).
Richmont and Patricia have raised resource numbers twice in the past year. The latest numbers for contained gold are 30% above the figures released in April 2007. The April figures were 250% over those released previously based on drilling done to the end of June 2006.
The Island Gold CIP mill was started in September 2006, to treat ore from the underground exploration project. The first gold dor bar, weighing 530 oz, was poured on Nov. 15, 2006.