Richmont Mines Inc. (TSX:RIC, AMEX: RIC, NYSE:RIC) announced that it has received permits for its Monique Gold Project located in Val-dâ€™Or, Quebec.
As quoted in the press release:
The Corporation will begin overburden removal shortly, with a view to extracting a 5,000 tonne bulk sample to be processed at its 100%-owned Camflo Mill in 2013. If the results from the bulk sampling phase are favourable, open pit mining and milling would proceed over the following 2 year period, the approval for which is inclusive in the permit. The open pit phase could potentially be followed by an underground phase, for which a permit amendment would need to be obtained.
Richmontâ€™s Â President and CEO, Paul Carmel, said:
The potential addition of Monique to Richmontâ€™s operating mines is consistent with our strategy to increase the mine life and resources of our Quebec asset base by bringing on additional sources of ore for our Camflo Mill.