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Richmont Mines Down 8%, Beating Fall for Gold; Offers Early Results for Monique Project

Richmont Mines (RIC.TO,RIC) turned in encouraging assay results for the G and J zones at its Monique project near Val-d'Or, Quebec, although it was not enough to turn many heads on a day when gold prices are plunging nearly 5%.

Richmond shares are off just over 8% today and appear to be stabilizing around $8.80 a share, down 78 cents each. The miner said new drill results from the G Zone at Monique included 2.18 grams gold per ton over 6.69 metres and 2.47 grams per ton over 6.21 metres; J Zone results included 6.92 grams per ton over 3.30 metres, 3.24 grams per ton over 6.21 metres and 2.88 grams gold per ton over 9.16 metres.

Overall, Richmont drilled 47 holes totalling 8,117 metres this year with a polarization survey identifying two anomalies targeted for drilling later this year. Results will be included in a new resource estimate due in Q4.

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

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

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