GOLD: Richmont steps up work at Island Gold

ONTARIO – Montreal's Richmont Mines is accelerating and expanding development work at its Island Gold mine 83 km northeast of Wawa. The target is the inferred resource estimated to contain 1.1 million oz of gold below the current workings.

Richmont has chosen Manroc to undertake the $10-million ramp development into the Lower zone. The ramp will be extended from the 635 metre level to a depth of 660 metres by the end of 2014, and to a depth of 735 metres by November 2015. The work will lengthen the ramp by 800 metres.

With the deeper ramp in place, Richmont will establish a second mining horizon on the 735 metre level by the end of 2015. A ventilation raise and an escapeway from the 585 level to the 390 level will also be constructed.

Concurrent with ramp development, a 500-metre drift that will facilitate definition drilling will be driven to the east of the 620 metre level. The drilling is to be done between depths of 500 and 800 metres in the eastern part of the deposit. The ramp will also allow cost effecting drilling in a number of unexplored and untested areas, especially down plunge to the east and at depth, both of which are open.

Enjoy the latest Richmont presentation posted at Richmont-Mines.com.