Richmont Mines Inc.: Island Gold Deep 43-101 Repor
Post# of 28526
MONTREAL, QUEBEC--(Marketwired - April 12, 2013) - Richmont Mines Inc. (TSX:RIC)(NYSE MKT:RIC), ("Richmont" or the "Corporation") is pleased to announce additional Island Gold Deep drill results, and that the 43-101 technical report for the Island Gold Deep Mineral Resource estimate, published February 25, 2013, has been filed on SEDAR ( www.sedar.com ).
Highlights:
- C Zone unpublished drill results included in the January 2013 Island Gold Deep C Zone Mineral Resource estimate include (all cut grades over true widths): 36.91 g/t Au over 2.05 metres, 20.06 g/t Au over 4.48 metres, 15.50 g/t Au over 5.25 metres, 6.94 g/t Au over 11.87 metres, and 25.73 g/t Au over 2.02 metres;
- New C Zone drill results not incorporated in the resource include (all cut grades over true widths): 7.94 g/t Au over 5.75 metres, 7.28 g/t Au over 8.90 metres and 9.41 g/t Au over 2.73 metres;
- Additional new drill results include (all cut grades over true widths): 20.64 g/t Au over 3.40 metres, 17.48 g/t Au over 3.32 metres, 17.53 g/t Au over 3.06 metres, 13.64 g/t Au over 9.62 metres and 10.04 g/t Au over 6.20 metres in presently undefined zones, which are sub-parallel to the C Zone (referred to as "X" Zone);
- A 43-101 technical report for the C Zone Inferred Mineral Resource estimate as of January 25, 2013, and published on February 25, 2013 (Island Gold Deep project), has been filed on SEDAR ( www.sedar.com );
- There are currently 3 drill rigs active on the Island Gold Deep project from underground drill stations.
Paul Carmel, President and CEO, commented: "We are very pleased with the continued strong drill results at depth at Island Gold, as they reaffirm our confidence in the long-term potential to increase the mine life of this operation. We have not defined the limits of the various zones, and our goal is to expand this project's existing inferred Mineral Resource of 508,000 gold ounces at a grade of 10.73 g/t Au, released in February. To this end, we will be drilling 39,000 metres in 2013, and have begun work on an underground exploration drift that, once completed, will allow for better drilling access to the area between the two dykes on the property. The dykes occur at the eastern boundary of the currently defined deep resource. They are post-mineralized structures and they cut the mineralization perpendicularly, as witnessed in the upper horizons of the mine (see longitudinal). I am also pleased to say that work to extend the ramp to access the Deep C Zone has begun."
Chart 1: Longitudinal Section - Island Gold Mine: Deep drilling exploration results
| TABLE 1: NEW ISLAND GOLD DEEP DRILL RESULTS (1) |
| NOT INCLUDED IN JANUARY 2013 INFERRED MINERAL RESOURCE ESTIMATE |
| Hole Number | Length (metres) | From (metres) | To (metres) | True Width (metres) | Uncut Grade (g/t Au ) | Cut Grade (2) (g/t Au) | Zone (3) | Vertical depth of Intersection (metres) | |
| 400-514-08 | 588.00 | 411.93 | 417.34 | 3.06 | 45.45 | 17.53 | X | 702 | |
| including | 412.23 | 413.01 | 0.44 | 268.69 | 75.00 | ||||
| 400-514-11 | 804.00 | 714.90 | 719.90 | 2.02 | 6.97 | 6.97 | X | 1,002 | |
| including | 718.70 | 719.30 | 0.24 | 42.68 | 42.68 | ||||
| 400-514-13A | 683.20 | 570.00 | 576.60 | 3.25 | 5.70 | 5.70 | X | 860 | |
| 400-514-23 | 645.00 | 489.58 | 496.33 | 3.32 | 29.49 | 17.48 | X | 793 | |
| including | 489.58 | 489.98 | 0.20 | 134.00 | 75.00 | ||||
| including | 494.80 | 495.83 | 0.51 | 125.46 | 69.60 | ||||
| 616.48 | 627.00 | 5.30 | 47.59 | 10.11 | X | 895 | |||
| including | 616.48 | 617.26 | 0.39 | 580.50 | 75.00 | ||||
| 400-514-26 | 531.00 | 392.91 | 399.45 | 4.47 | 5.00 | 5.00 | C | 654 | |
| including | 398.47 | 398.81 | 0.23 | 54.70 | 54.70 | ||||
| 400-514-28 | 696.20 | 662.66 | 671.36 | 3.87 | 1.56 | 1.56 | C | 955 | |
| 400-516-03 | 435.00 | 324.60 | 333.55 | 5.75 | 7.94 | 7.94 | C | 622 | |
| including | 326.00 | 326.80 | 0.51 | 42.80 | 42.80 | ||||
| 400-516-04 | 558.00 | 399.00 | 407.28 | 4.69 | 4.03 | 4.03 | C | 695 | |
| including | 421.50 | 430.00 | 5.00 | 4.27 | 4.27 | X | 759 | ||
| 400-516-06W1 | 576.00 | 499.88 | 520.00 | 8.90 | 7.28 | 7.28 | C | 817 | |
| including | 500.60 | 501.14 | 0.24 | 54.59 | 54.59 | ||||
| 425-487-08 | 846.00 | 780.72 | 792.50 | 3.40 | 20.99 | 20.64 | X | 1,148 | |
| 425-487-11 | 598.81 | 430.00 | 442.50 | 6.20 | 10.04 | 10.04 | X | 766 | |
| 425-487-12 | 667.00 | 506.64 | 513.52 | 2.74 | 5.82 | 5.82 | X | 848 | |
| including | 508.00 | 508.62 | 0.25 | 40.60 | 40.60 | ||||
| 524.00 | 529.15 | 2.06 | 12.88 | 9.39 | X | 862 | |||
| including | 525.00 | 526.00 | 0.40 | 120.00 | 75.00 | ||||
| 594.82 | 600.60 | 2.33 | 3.42 | 3.42 | X | 921 | |||
| 435-478-01 | 690.00 | 536.00 | 541.50 | 2.60 | 7.98 | 7.98 | X | 884 | |
| 584.40 | 590.70 | 3.06 | 5.06 | 5.06 | X | 922 | |||
| 435-478-06 | 783.00 | 551.66 | 560.00 | 2.73 | 15.25 | 9.41 | C | 937 | |
| including | 552.54 | 553.00 | 0.15 | 181.00 | 75.00 | ||||
| 578.00 | 583.15 | 1.74 | 14.58 | 13.45 | X | 959 | |||
| including | 582.65 | 583.15 | 0.17 | 86.62 | 75.00 | ||||
| 617.55 | 622.15 | 1.53 | 5.77 | 5.77 | X | 993 | |||
| 626.15 | 648.95 | 7.62 | 5.13 | 5.13 | X | 1,009 | |||
| 700.00 | 708.00 | 2.76 | 6.05 | 6.05 | X | 1,066 | |||
| 425-487-14 | 550.00 | 470.20 | 481.00 | 5.64 | 7.56 | 7.56 | X | 807 | |
| 425-487-15 | 576.00 | 456.70 | 465.33 | 4.36 | 6.37 | 5.39 | X | 793 | |
| including | 458.93 | 459.28 | 0.18 | 99.25 | 75.00 | ||||
| 425-487-17 | 600.54 | 398.00 | 402.65 | 2.09 | 5.66 | 5.66 | X | 752 | |
| 466.00 | 475.10 | 4.20 | 4.08 | 4.08 | X | 807 | |||
| 533.23 | 553.50 | 9.62 | 20.45 | 13.64 | X | 863 | |||
| including | 544.16 | 544.60 | 0.21 | 344.89 | 75.00 | ||||
| including | 548.48 | 549.12 | 0.30 | 105.06 | 75.00 | ||||
| 435-478-05 | 615.00 | 390.70 | 394.10 | 1.85 | 2.32 | 2.32 | X | 721 | |
| 435-478-08A | 468.00 | 330.00 | 334.12 | 2.61 | 6.23 | 6.23 | C | 668 | |
| 435-478-09 | 666.00 | 575.25 | 581.20 | 1.75 | 1.49 | 1.49 | C | 971 | |
| GD-468-01W1 | 1,176.00 | 975.32 | 979.23 | 1.75 | 14.01 | 9.45 |
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