Richmont Mines Inc. (TSX:RIC, AMEX: RIC, NYSE:RIC) announced that it has received permits for its Monique Gold Project located in Val-d’Or, Quebec.
As quoted in the press release:
The Corporation will begin overburden removal shortly, with a view to extracting a 5,000 tonne bulk sample to be processed at its 100%-owned Camflo Mill in 2013. If the results from the bulk sampling phase are favourable, open pit mining and milling would proceed over the following 2 year period, the approval for which is inclusive in the permit. The open pit phase could potentially be followed by an underground phase, for which a permit amendment would need to be obtained.
Richmont’s President and CEO, Paul Carmel, said:
The potential addition of Monique to Richmont’s operating mines is consistent with our strategy to increase the mine life and resources of our Quebec asset base by bringing on additional sources of ore for our Camflo Mill.