Canadian Mining Journal

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GOLD: Richmont drills new high grade zone at Island Gold



2017 drilling program at the Island Gold mine, including the latest high grade discovery.

ONTARIO – Toronto’s Richmont Mines, owner of the Island Gold mine 80 km northeast of Wawa, has drilled new high grade mineralization in the eastern lateral extension. Hole GD-640-05 returned 20.6 g/t gold over 11.3 metres of core. Hole GD-640-04, located about 150 metres above hole -05, returned 7.39 g/t gold over 3.27 metres.

“In the eastern lateral extension, drilling has identified a new mineralized zone in the down plunge extension of a high grade trend that was identified in 2016. This new area is located only 500 metres east and below the new resource blocks, which indicates that the structure could continue at depth,” said CEO Renaud Adams, CEO.

Richmont successfully increased resources and grades by systematic infill and delineation drilling. Last year reserves grew 34% (net of depletion) to 752,200 oz. of gold at an average grade of 9.17 g/t. Inferred resources increased by 30% (net of conversion) to 993,700 oz. of gold at a grade of 10.18 g/t.

Visit www.Richmont-Mines.com for additional details about the Island Gold mine.