Life is full of major milestones. From turning the big 3-0, to raising $5,000 for charity or reaching 100,000 Twitter (TWTR) followers, there are all sorts of significant achievements in life that deserve acknowledgement. Take Richmont Mines Inc. (RIC) (RIC:CA) , for instance – since venturing into commercial gold mining production in 1991, Richmont Mines has yielded over one million ounces of gold. After reaching a milestone like that, there’s only one thing to do: expand even further, of course, and keep reaching toward the next milestone.
In pursuit of resource expansion potential, Richmont Mines latest drill program will conduct a 23,000-metre deep drilling at its Island Gold Mine. The company’s announcement stated that this drill program follows up a very encouraging single deep hole from surface in 2014 that intersected 19.87 g/t Au over 3.93 metres at a depth of 1,200 metres – a plunge of approximately 280 metres down from the existing Island Gold resource.
“We are pleased to announce that we are initiating a program of deep directional drilling in an area down plunge to the east of the main deposit,” said President and CEO Renaud Adams. “We know that this area holds significant potential for a high grade extension, since a single hole from surface last year intersected 19.87 g/t Au over 3.93 metres, 200 metres to the east and 280 metres below our known deposit. This drill program will test the area immediately surrounding this intersection. Initiating and completing this deeper drilling will not only contribute to our understanding of the potential at depth and hopefully lead to a resource expansion, but it will also be very instrumental in helping us determine the long-term mine development strategy for Island Gold."
The cost-effective deep directional drill program will test the Island’s Gold Mine down plunge extension, while allowing accurate targeting through multiple pierce points. The $4-million program is estimated to take six to eight months to complete. By the end of 2015, 6,000 metres will be completed, and the remaining 17,000 metres will reach completion in 2016.
Along with its Ontario-based Island Gold Mine, Richmont operates a total of six Canadian mines. With over 20 years of experience in exploration, mine development and production, this Quebec-based gold company is no stranger to surpassing milestones. With their latest deep drilling program, it seems likely that Richmont Mines will continue to build their presence in Canadian mining – as well as their reputation as a pioneering leader in the gold sector.
For more information about Richmont Mines’ operations, visit richmont-mines.com.
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