Name: Beaufor mine.

Location: The mine is located 25 km north-east of Val-d’Or, in Quebec, Canada.

Holding and Controlling Company: Richmont Mining.

Brief Description: Beaufor is an underground gold mine situated on 591 ha. The property is largely unexplored, with only limited diamond drilling completed in the past.

Brief History: Intermittent exploration fieldwork has been conducted on the Beaufor property since the 1930s.

Following an initial development period, commercial production started in January 1996. Richmont Mines bought 50% of the mining rights of the Perron, Beaufor, Pascalis, Colombière and Courvan properties for C$1.8-million in 2001.

Richmont Mines undertook construction work to secure the crown pillar In September 2001. In January 2002, it resumed commercial production at the mine jointly with Louvem Mines. The Beaufor mine has produced gold since then. Richmont became the 100% owner of the Beaufor property on June 30, 2010, following the company’s acquisition of the outstanding 30% of Louvem shares not previously owned by Richmont.

Products: Gold.

Geology/Mineralisation: Gold-bearing veins at the Beaufor mine comprise quartz/tourmaline/pyrite veins, typical of Archean epigenetic lode gold deposits, which crosscut the Bourlamaque Batholith. Mafic dykes that predate the mineralisation are associated with shear-hosted gold-bearing veins. Shallow-dipping extensional gold-bearing veins are commonly observed at the mine. Shear zones striking 70° north and dipping steeply to the south-west, control the opening and gold enrichment of veins.

Reserves: Total proven and probable reserves as at December 31, 2016, were estimated at 203 500 t grading 6.86 g/t gold.

Resources: Total measured and indicated resources as at December 31, 2017, were estimated at 353 000 t grading 7.37 g/t gold. Inferred resources were estimated at 36 000 t grading 6.44 g/t gold.

Mining Method: Underground, using long-hole and room-and-pillar methods.

Major Infrastructure and Equipment: Ore is processed at the Richmont’s wholly owned Camflo mill, located 50 km away. The 1 200 t/d Camflo mill is a Merrill-Crow conventional type mill, with circuits for crushing, grinding, gold cyanidation and precipitation using zinc powder.

Prospects: Richmont is considering strategic alternatives for the Beaufor mine that better align with the company’s strategy of high-quality, low-cost production.

Contact Person: VP investor relations Anne Day.

Contact Details:
Richmont Mines
Tel +1 416 368 0291
Fax +1 416 368 9423
Email info@richmont-mines.com
Website https://www.richmont-mines.com