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Richmont Mines declares commercial production at Quebec gold project

4th October 2013

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

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TORONTO (miningweekly.com) – TSX- and NYSE-listed Richmont Mines on Friday announced it had successfully completed the three-month preproduction phase at the Monique gold project, in Quebec, and that it had declared commercial production on Tuesday.

The Monique openpit operation is located 25 km east of Val-d'Or, and about 50 km from the corporation's Camflo mill in Malartic.

At July 1, Monique had openpit proven and probable reserves of 485 737 t, grading 2.29 g/t of gold for 35 698 oz.

Monique is expected to produce 4 500 oz of commercial gold production during the fourth quarter, and is estimated to produce 30 000 oz, over 19 months, at an average cash cost of $904/oz.

Richmont had produced more than 1.4-million ounces of gold from its operations in Quebec and Ontario since staring production in 1991.

Edited by Creamer Media Reporter

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