Richmont Mines Reports More Favorable Drill Results from Island Property

Richmont Mines Inc. (TSX:RIC,NYSEMKT:RIC) released an update on exploration drilling at its Island gold property. Work at the property is ongoing, and is expected to be complete late in Q2 2016.
Highlights from five new holes completed in the Extension 2 area, and one new hole in the Extension 1 area, include:

• Hole 620-531-31: 23.11 g/t over 3.54 metres
• Hole 620-543-24: 6.47 g/t gold over 3.49 metres
• Hole 620-543-25: 8.77 g/t gold over 3.26 metres
• Hole 620-543-27: 8.74 g/t gold over 2.24 metres
• Hole 620-543-29: 7.81g/t over 2.34 metres
• Hole 620-543-30: 9.85 g/t over 2.31 metres

Renaud Adams, president and CEO of Richmont, commented:

Our drilling programs continue to intersect very favourable gold mineralization both along strike and at depth that provides increasing confidence in further extending the mine life beyond the current seven years and potentially support an expansion to 1,150 tonnes per day from the current 800 tonnes per day, as detailed in the recent Preliminary Economic Assessment (PEA). Our deep directional drilling program continues to confirm the higher-grade, wider mineralized zones at depth below the 1,000 metre level. We expect the current drilling programs will be completed in June, following which we will review the results to ensure our follow-up drilling program will continue to incorporate a very disciplined approach that supports resource growth and mine life extension.

Click here to read the full Richmont Mines Inc. (TSX:RIC,NYSEMKT:RIC) press release.