GOLD: Development reaches upper part of Island Gold Deep resource

ONTARIO – Development into the C zone has reached the upper portion of the Island Gold Deep resource, reports Richmont Mines of Montreal. Chip samples from the face taken during lateral drift development on the 560 metre level averaged a cut grade of 12.73 g/t Au over an average width of 2.92 metres.

The ramp has reached a depth of 610 metres below surface. The company says a 92-metre length of the development is well mineralized and corresponds to the previously established resource. The first longhole stope will be mined from the 560 to 585 metre levels later this year.

Definition drilling carried out by Richmont this year include 36.40 g/t Au over 4.46 metres; 33.14 g/t over 5.05 metres; and 16.98 g/t over 3.80 metres in the C zone. Drilling in the B zone returned 19.81 g/t Au over 2.09 metres; 10.16 g/t over 3.99 metres; and 14.41 g/t over 3.29 metres. All figures are cut grades and true lengths.

Paul Carmel, president and CEO, said, "We have achieved yet another milestone at Island Gold Deep – that of accessing the deep C zone for the first time and seeing that the continuity and grades of the deposit have been confirmed."

Click here to see a composite longitudinal section of the Island Gold Deep.