ONTARIO – Partners RICHMONT MINES of Montreal and PATRICIA MINING of Toronto now have a better idea of the high-grade resources at their Island gold project in the Wawa area. The latest report estimates an indicated resource of 272,000 tonnes at an uncut grade of 13.8 g/t Au or 108,000 contained ounces. There may be another 116,000 contained ounces in the inferred category which totals 275,000 tonnes with an uncut grade of 19.6 g/t.
The Island project includes the previously mined Kremzar deposit and the Lochalsh, Goudreau and North Shear zones. Infrastructure on the site includes the 650-tonne/day carbon-in-pulp Kremzar mill and a 1,280-metre ramp plus drifts and raises on two levels reaching the main gold zone. Richmont can earn a 55% interest by sharing the cost of exploration to date and spending up to $10 million toward development over the next two years.
In early 2003, Patricia estimated total inferred resources in the Island deposit to be 20.6 million tonnes at 2.35 g/t Au.
Take a virtual tour of the Island gold project, either still photos or video, by going to www.PatriciaMining.com.