Richmont Mines Includes Promising Untapped Resource in Updated Drilling Program

Spotlight Companies |

The latest updates from Richmont Mines, Inc. (RIC) (RIC:CA) continue to illustrate the company’s promising growth prospects. Just days after announcing their inclusion to the S&P/TSX SmallCap Index as well as appointing a new Vice President of Investor Relations, the Quebec-based gold mining company has announced an updated version of their Island Gold Mine deep drilling plan.

The updated plan will include tests of the east and west extensions of the Island Gold deposit along strike, and tests of a nearby untapped resource. "While we also recently announced an aggressive 23,000m 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,” said Renaud Adams, President and CEO of Richmont Mines.

Richmont’s Updated Drilling Program Aims to Increase Shareholder Value

The newly identified deposits are located in the underexplored Goudreau shear zone, home to the mine’s current operations. Richmont’s exploration team also identified high-priority gold targets on the Island Gold mine property that will be included in the drilling program. Adams believes that the exploration of the underexplored Ontario-based Island Gold Mine property can lead to long-term benefits for its investors.

“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,” said Adams, “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."

Richmont Mines’ impressive milestone of over one-million yielded ounces of gold is credited to their twenty years of proven results and cost-effective management. Their continued growth and expanding drilling programs will further their reputation as a premiere gold-mining company.

For more information on Richmont Mines, visit http://www.richmont-mines.com/

Disclosure: In the purview of Section 17(B) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader's attention the fact that Equities.com, Inc. may be compensated by the companies profiled in the Spotlight Companies section. The purpose of these profiles is to provide awareness of these companies to investors in the micro, small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. Equities.com is not a registered broker, broker dealer, investment advisor, analyst, investment banker or underwriter. All profiles are based on information that is available to the public. The information contained herein should not be considered to be all-inclusive and is not guaranteed by Equities.com to be free from misstatement or errors. Readers are reminded to do their own due diligence when researching any companies mentioned on this website.

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Private Markets

WayBetter

The spark hit Jamie when he saw co-workers competing to lose weight. Instead of pizzas and subs, they were eating salads and jogging along the river. Some were sneakily leaving…

Uber

Uber connects riders with safe, reliable, convenient transportation providers at a variety of price-points in cities around the world. Uber makes money from charging their drivers 20% of the fare…