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W Zone Mine (Beaufor Mine property)

Oct 14, 2014



Brief history:
Richmont completed an 8,551 metre surface exploration drilling program on the Beaufor Mine property over 2009 and 2010 which identified, and further tested, three near-surface gold mineralized zones located approximately 800 metres to the southwest of the Beaufor Mine infrastructure, namely the 350, 367 and W zones. Drilling in the W Zone confirmed the potential of this area by revealing several interesting intercepts including 12.62 g/t Au over 1.40 metres, 14.09 g/t Au over 3.76 metres, 6.75 g/t Au over 5.51 metres and 34.25 g/t Au over 0.95 metres. The Corporation carried out an additional 7,000 metre drilling program and a good mineral potential for the 350, W and 367 Zones was defined at the end of 2010.
 
Richmont applied for a Certificate of Authorization during the second quarter of 2011 for the realization of an exploration ramp to access the W Zone. Richmont received its Certificate of Approval for the W Zone ramp during the third quarter of 2011, and began construction of the portal.
 
The Corporation completed a successful bulk sampling phase for the project in mid-2013, and made the decision to proceed to the commercial production phase of the project. Results derived from both exploration works and bulk sample milling confirmed the project’s estimated Probable Reserves of 132,251 tonnes at a grade of 7.21 g/t for 30,680 Au ounces as at December 31, 2012. Following the successful completion of the three month pre-production phase, commercial production was declared at the W Zone Mine on October 1, 2013.
 
Geological characteristics:
The W Zone is located in sheared mafic volcanics within the Bourlamaque batholite. These volcanics lie immediately south of the Beaufor fault, a major structure in the area that has controlled the formation of the gold rich quartz veins at the Beaufor Mine. The W Zone runs parallel to the Beaufor fault zone (N115°E) and dips 65° to the southwest. Mineralisation consists of coarse pyrite and chalcopyrite in a set of quartz and tourmaline veins ranging in width from 20 cm to 430 cm, locally native gold is observed.

Source: http://www.richmont-mines.com/w_zone