Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Andrew~ who wrote (3603)	1/28/2014 8:58:50 AM
From: Andrew~	Read Replies (1) \| Respond to of 202737

RIC-T Richmont Mines Inc.: Island Gold Deep Resources Increased to 169,000 Ounces of Indicated & 955,000 Ounces of Inferred From Inferred Resources of 771,000 Ounces Previously "Previously reported Inferred resources containing 771,000 ounces of gold were upgraded to Indicated resources of 456,000 tonnes at an average grade of 11.52 g/t for 169,000 ounces of gold, and Inferred resources were increased to 3,200,000 tonnes at an average grade of 9.29 g/t for 955,000 ounces of gold. This increase continues to indicate that Island Gold Deep has the potential to be developed into an important high grade and long life contributor to Richmont's Island Gold Mine." Claim Ownership Information In a press release issued on October 7, 2013, the Corporation noted that out of a total of 78 claims and 111 mining patents and leases comprising the Island Gold Mine property, all were 100% held by Richmont except for four patented claims on the Goudreau property, for which Richmont owns 69% with the remaining 31% being held by a third party. Of the updated resource estimate detailed in this press release, approximately 90% of the Indicated resource and 56% of the Inferred resource (61% on a consolidated basis, versus 68% previously) lie within three of these four claims. Work is continuing on the Island Gold Deep Project and proceeding according to previously established plans and budgets, with each party to be held responsible for its proportion of the expenditures under the Ontario Mining Act." http://stockboard.com/news/view.php/richmont-mines-inc-island-gold-deep-resources-increased-to-169000-ounces-of-indicated-955000-ounces-of-inferred