Richmont Mines Includes Promising Untapped Resource in Updated Drilling Program

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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.

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