RIC Monique Project - comment
posted on
Aug 26, 2011 09:19AM
4 projects in Ontario, Quebec and Nevada (Gold, Silver,Copper,REE)
Richmont Mines is a very efficient mid-tier (?) gold producer, operating a few (still) small producing mines with alot of upside exploration potential.
New projects are in the pipeline and the one that has been fast-tracked this year is the Monique Project, literally next door to GAX Regcourt Project.
RIC has just aquired the remaining 19% of the Monique Project and with 100% ownership they now seem very committed to bring that into production as quickly as possible.
Just have a look at the pace of development over the last 4 months:
April 11, 2011 | Richmont Mines Inc.: Monique Work Commitment Completed; Initial Drill Results Confirm Strong Near Surface Gold Mineralization |
http://ir.richmont-mines.com/en/releasedetail.cfm?ReleaseID=567814
June 22, 2011 | More Positive Drill Results From Richmont's Monique Project |
http://ir.richmont-mines.com/en/releasedetail.cfm?ReleaseID=586712
August 24, 2011 | Richmont Updates Final Drilling Results From the Monique Project, Studies Underway to Accelerate Development of this Asset |
http://ir.richmont-mines.com/en/releasedetail.cfm?ReleaseID=600836
They obviously like what they find and are already proposing a small open-pit scenario.
Have a look at their longitudinal sections and results:
http://media3.marketwire.com/docs/J-Zone.pdf
http://media3.marketwire.com/docs/G-Zone.pdf
http://media3.marketwire.com/docs/Longitudinale_Section_EN.pdf
If GAX can come up with similar results, and Phase I drilling has shown the potential already, we could be in for a big surprise, imho !
FANTOMAS