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Profile: Richmont Mines Inc (RIC.TO)

RIC.TO on Toronto Stock Exchange

29 Sep 2016
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Richmont Mines Inc. (Richmont), incorporated on February 12, 1981, is a mining company. The Company is engaged in activities related to the acquisition, exploration, development and operation of mineral properties. The Company's segments include Quebec and Ontario. The Company has two divisions: Ontario Division and Quebec Division. Richmont operates two gold mines: the Island Gold Mine in Ontario and the Beaufor Mine in Quebec. The Company produces gold from these mines. The Company is also advancing development of the mineralized extension at depth of the Island Gold Mine in Ontario.

Ontario Division

The Company's Island Gold Mine is located approximately 80 kilometers northeast of Wawa, Ontario in the Sault Ste. Marie Mining Division. Dubreuilville, Ontario is approximately 10 kilometers northwest of the Island Gold Mine. The Island Gold property is divided into approximately nine parts, which consists of over 220 patented, leased and staked claims. Its claims totals approximately 7,770 hectares, located within the Finan and Jacobson townships. These claims are grouped into nine different properties: Kremzar, Localsh, Goudreau, Goudreau Lake, Edwards, Salo, Ego, Argonaut and Island Gold.

Quebec Division

The Company's Beaufor Mine property along with other adjacent properties, such as Pascalis, Perron, Colombiere, Courvan and Perron Blocks 2 and 3, are located approximately 20 kilometers northeast of the town of Val-d'Or, in the Abitibi-East county, in the Province of Quebec. The property, which contains the mineral reserves and resources of the Beaufor and W Zone mines, consists of a series of adjacent mining rights subdivided into over three projects: Perron, Beaufor and Pascalis. Another group of properties adjacent to the mine includes the Courvan project (containing the past producing Bussiere Mine), the Colombiere project and the Perron Block 2 and Block 3 projects. The mineralized zones, including the mineral reserves and mineral resources, underground infrastructure and the waste pad are located on mining concession 280 PTA of the Beaufor property, mining lease 750 of the Pascalis property and mining leases 858 and 1018 of the Perron property.

The Company's approximately 1,200 tons per day (tpd) Camflo mill is located approximately 50 kilometers from Beaufor Mine property. The Camflo Mill processed over 350,120 tons from Richmont's Quebec operations.

Company Address

Richmont Mines Inc

161 Principale Ave
P: +1819.7972465
F: +1819.7970166

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