Profile: Richmont Mines Inc (RIC.TO)
26 Mar 2015
Richmont Mines Inc. incorporated on February 12, 1981, is engaged in activities related to the acquisition, exploration, development and operation of mineral properties. The Company produces gold from the Island Gold Mine in Ontario, and the Beaufor Mine, Monique Mine and the W Zone Mine in Quebec. The Company is advancing the Island Gold Deep project beneath the Island Gold Mine in Ontario. The Beaufor Mine property and the W Zone Mine, along with other adjacent properties such as Pascalis, Perron, Colombière, Courvan and Perron Blocks 2, 3 and 4, are located approximately 20 kilometres northeast of the town of Val-d’Or, in the Abitibi-East country, in the Province of Quebec. The Island Gold Mine is located approximately 83 km northeast of Wawa, Ontario, in the Sault Ste.
The Beaufro Mine property, which includes the mineral reserves of the Beaufor and W Zone mines, consists of a series of adjacent mining rights subdivided into four projects: Perron, Beaufor, Pascalis and Colombière. The projects are composed of three mining leases, one mining concession and 23 claims covering a total area of 591 ha. The Courvan project and Perron blocks 2, 3 and 4 form another group of mining titles with high economic potential but currently have no mining activities. The Company consists of two mining concessions and 66 claims, over a total area of 1,298 hectares.
W Zone Mine
During the year ended December 31, 2013, a total of 23,262 tonnes of ore were processed from the W Zone Mine at an average grade of 3.25 g/t and 2,326 ounces of gold were sold.
Island Gold Mine
The Island Gold property is divided into seven parts and consists of 203 patented, leased and staked claims totaling 7,168 hectares. As of December 31, 2013, the mineral reserves at Island Gold were 143,505 ounces of gold.
Exploration Projects and Other Properties
The Wasamac property is located approximately 15 kilometers southwest of Rouyn-Noranda, Quebec, within the heart of the Abitibi gold mining district. The Wasamac property consists of three mining concessions (CM 349, CM 364 and CM 370 for 757.65 hectors) and one claim CDC20098 for 1.71 hectors), which represents a total area of 759.36 hectares in the Beauchastel Township. Richmont Mines owns 100% of the mining concessions relating to the Wasamac property.
The Monique property is located 25 kilometers east of Val-d’Or, in the province of Quebec, Canada. The Monique property consists of 17 claims and 1 mining lease covering a total area of 546.16 hectares. Richmont Mines grants a 0.38% net smelter return (NSR) royalty to SOQUEM in the event that the property reaches commercial production.
Richmont Mines Inc
161, avenue Principale
ROUYN-NORANDA QC J9X 4P6