ONTARIO – Richmont Mines of Montreal has published the latest resource numbers for its Island Gold gold mine 83 km northeast of Wawa. Using a gold price of US$1,225/oz, at the 2013 year end the Island Gold mine has proven and probable reserves of 733,347 tonnes averaging 6.09 g/t Au and containing143,506 oz of gold.
The mine also had a measured resource of 28,087 tonnes at 5.57 g/t Au, an indicated resources of 255,660 tonnes at 7.23 g/t, and an inferred resource of 362,858 tonnes at 7.09 g/t.
The Island Gold property also contains the Island Deep resource. This area of mineralization includes 456,013 indicated tonnes grading 9.81 g/t Au and 3.20 million inferred tonnes at 9.29 g/t. The Deep area contains an estimated 1.12 million oz of gold.
The Island Gold mine has produced over 225,000 oz of gold since October 2007. A video of the Island Deep project and various reports are available at Richmont-Mines.com.