Richmont's Mines Exploration Drilling to Test 6 Island Areas

Richmont Mines (TSX:RIC,NYSEMarket:RIC) announced an update on the previously announced 20,000-metre surface exploration campaign on the Island gold mine property, located in northeastern Ontario, that will test the east and west extensions of the Island gold deposit along strike, as well as for new deposits within the regional Goudreau shear zone, which hosts the mine’s current operations.
As quoted in the press release:

The updated program also includes drilling of selected high-priority gold targets identified by the exploration team, based on their previous work and compilations, elsewhere on the highly prospective 77 km2 Island Gold Property. The exploration drilling began earlier this year with 1,800 metres completed at the end of the second quarter. The program will follow up on high quality gold targets well characterized by our exploration team, while leveraging more advantageous drilling costs.
The Island Gold mine is located in an area of northeastern Ontario that is underexplored within the context of Canada’s long mining history. However, within a 15 km radius of the current operations are four past producing mines, three of which occur within the same regional Goudreau shear zone that hosts the Island Gold mine. This underexplored region with proven favourable geology, a lack of regional exploration data at depth and the success we have had in establishing the significant million ounce high-grade resource below our Island Gold Mine, are all evidence of very promising, yet untested potential on the Island Gold land package.

Richmont Mines President & CEO, Mr. Renaud Adams, stated:

While we also recently announced an aggressive 23,000 m deep directional drilling program with the goal of a near-term expansion of our resources at depth below our existing operations, we also believe that there is excellent upside exploration potential for new deposits along strike, and elsewhere on our large Island Gold property. With Island Gold’s production and development proceeding as planned, infill and definition drilling underway, and our recently-announced deep directional drilling to commence shortly, we see this step-out exploration as an important step to increase long-term shareholder value through potential resource expansions along strike as well as new discoveries elsewhere on the property.

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