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Richmont Mines ups the ounces

Richmont Mines reports quarterly gold production at its mines in Northern Ontario and Quebec is up 23 per cent over the same period last year.
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Richmont Mines reports quarterly gold production at its mines in Northern Ontario and Quebec is up 23 per cent over the same period last year.

Richmont Mines reports quarterly gold production at its mines in Northern Ontario and Quebec is up 23 per cent over the same period last year.

In an April 22 release, the Montreal gold miner released its first quarter production numbers showing 25,859 ounces, and gold sales of 24,791 ounces, a 21 per cent increase over the prior year.

The company said accelerated development at its Island Gold Mine, near Dubreuilville, is going well with the main access ramp reaching a depth of 675 metres, the exploration/definition drift lengthening out to 290 metres and a secondary ramp hitting 470 metres;

The company is shooting for a 2015 gold production target of between 78,000 and- 88,000 ounces.

Company president-CEO Renaud Adams likes what he sees from the past three months, especially the strong month of March at Island Gold where the mine generated an 860-tonne daily average which led to a 6,700-tonne ore stockpile at surface.

“I believe that the progress achieved in our March performance is a beacon of things to come at Island Gold, as we have only just begun to implement the strategic infrastructure and operational improvements that we believe will translate into game-changing long-term growth at Island Gold."