Richmont Mines and Louvem Mines Announce Surface Drilling Results and Production Milestone of 1,000,000 Gold Ounces for the Beau
2010年3月23日 - 9:30PM
Marketwired
Richmont Mines Inc. (TSX: RIC)(NYSE Amex: RIC), ("Richmont" or "the
Company") and Louvem Mines Inc. (TSX VENTURE: LOV), ("Louvem"), are
pleased to announce assay results from the recently completed
surface drilling program at the Beaufor Mine.
Richmont and Louvem are also very pleased to highlight that the
Beaufor Mine recently attained the notable production level of
1,000,000 gold ounces over its mine life. The mine produced a total
of 517,129 gold ounces over the 27 years that it was in operation
during the period 1933 until 1995. Since commercial production
resumed in 1996, the mine produced an additional 482,871 gold
ounces, reaching the lifetime production milestone of 1,000,000
gold ounces in March 2010.
President and CEO Martin Rivard commented: "It is a significant
achievement in the life of any mine to reach production of
1,000,000 gold ounces. For a small, narrow vein underground gold
mine like Beaufor, however, it is all the more notable, and is a
testament to the hard work, determination and dedication of the
mine's employees over the years. We remain committed to Beaufor,
and are planning more surface exploration drilling on the
property."
Richmont Mines completed a surface exploration program on the
Beaufor Mine property in the fourth quarter of 2009 and the first
quarter of 2010, through which one promising zone was identified -
Zone 350 - which is located approximately 800 metres to the
southwest of the mine infrastructure. This zone is composed of a
quartz vein that contains pyrite, tourmaline and visible gold, and
varies in thickness from 0.35 metres to 2.8 metres. The Company
drilled 8 holes for a total of 2,904 metres on this zone. As
detailed in the table below, several interesting intercepts were
documented, notably 100.00 g/t over a true width of 0.91 metres in
hole 50-01, and 23.57 g/t over a true width of 0.90 metres in hole
35-01. The results suggest that Zone 350 covers a minimum lateral
distance of 350 metres, and is open at depth and laterally.
Drill Results for Zone 350 (1) - Beaufor Mine
---------------------------------------------------------------------------
Hole From a depth To a depth of Core Length True Width Grade
Number of (metres) (metres) (metres) (g/t Au)
(metres)
---------------------------------------------------------------------------
20-02 128.25 128.75 0.50 0.48 8.53
---------------------------------------------------------------------------
25-01 132.50 136.00 3.50 3.42 0.06
---------------------------------------------------------------------------
25-02 157.00 157.65 0.65 0.64 0.04
---------------------------------------------------------------------------
35-01 123.75 124.70 0.95 0.90 23.57
---------------------------------------------------------------------------
40-01 175.40 175.85 0.45 0.45 6.18
---------------------------------------------------------------------------
45-01 168.25 170.50 2.25 2.24 19.82
---------------------------------------------------------------------------
50-01 128.20 129.20 1.00 0.91 100.00
---------------------------------------------------------------------------
50-02 213.65 214.30 0.65 0.65 9.58
---------------------------------------------------------------------------
1. Please see the National Instrument 43-101 at the end of this release for
full analysis details.
About Richmont Mines Inc.
Richmont Mines has produced over 1,000,000 ounces of gold from
its operations in Quebec, Ontario and Newfoundland since beginning
production in 1991. With extensive experience in gold exploration,
development and mining, the Company is well positioned to
cost-effectively build its North American reserve base through a
combination of organic growth, strategic acquisitions and
partnerships. Richmont routinely posts news and other important
information on its website (www.richmont-mines.com).
About Louvem Mines Inc.
Louvem Mines Inc. has a 50% interest in the Beaufor Mine and
owns other exploration properties located near Val-d'Or, in
northwestern Quebec, Canada. Richmont Mines owns 70% of the
outstanding shares of Louvem Mines Inc. More information on Louvem
Mines can be found on its website (www.louvem.com).
National Instrument 43-101 (NI 43-101)
The exploration program was conducted by qualified persons as
defined by National Instrument 43-101, Specifically, the program
was overseen by Mr. Raynald Vincent, Eng., B.Sc.A, M.G.P, a
qualified person as defined by NI 43-101, and an employee of
Richmont Mines Inc., and was supervised by Mr. Daniel Adam, Geo.,
Ph.D., Exploration Manager, a qualified person as defined by NI
43-101, an employee of Richmont Mines Inc.
The analyses were conducted at the Lab-Expert laboratory in
Rouyn-Noranda, Quebec, by means of fire assay fusion with atomic
absorption (AA) and gravimetric finish. The rejects of all samples
grading more than 1 g/t Au, were sent to Techni-Lab in
Ste-Germaine-Boule, Quebec, and analysis was completed by means of
fire assay fusion with atomic absorption (AA) and gravimetric
finish. The verification process undertaken by Techni-Lab confirmed
the initial results, and the grades presented in the table
represent the average of all obtained results.
Forward-Looking Statements
This news release contains forward-looking statements that
include risks and uncertainties. When used in this news release,
the words "estimate", "project", "anticipate", "expect", "intend",
"believe", "hope", "may" and similar expressions, as well as
"will", "shall" and other indications of future tense, are intended
to identify forward-looking statements. The forward-looking
statements are based on current expectations and apply only as of
the date on which they were made. The factors that could cause
actual results to differ materially from those indicated in such
forward-looking statements include changes in the prevailing price
of gold, the Canadian-United States exchange rate, grade of ore
mined and unforeseen difficulties in mining operations that could
affect revenue and production costs. Other factors such as
uncertainties regarding government regulations could also affect
the results. Other risks may be set out in Richmont Mines' Annual
Information Form, Annual Reports and periodic reports.
Contacts: Investor Relations: RICHMONT MINES INC. Jennifer
Aitken 514-397-1410 jaitken@richmont-mines.com Media Contact:
EDELMAN Public Relations Marco Wingender 514-844-6665 ext. 240
marco.wingender@edelman.com
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