Markets

Richmont Mines Up 15% After New Assay Results Further Support Wasamac Gold Project

Richmont Mines Inc. (RIC.TO) is set to finish the day up more than 15%, gaining $1.41 to reach $10.68 a share after saying assay results from its Wasamac property in Quebec includes 7.28 grams gold per ton over 31.40 metres in the Main zone and 3.14 grams per ton over 9.99 metres and 3.45 grams gold per ton over 7.66 metres in Zone 1.

An updated resource calculation is due out in Q4 and will be used to complete a preliminary economic assessment of the Wasamac project early next year. Richmont is also drilling on an adjacent property optioned from Globex Mining Enterprises Inc. in May.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos