Richmont up on Cripple Creek high-grade

Preliminary assay results from surface drilling at Cripple Creek, Richmont Mines’ (RIC-T, RIC-X) key exploration asset west of the Timmins gold camp in Ontario, gave a nice boost to its stock.

The two most striking intercepts were found in zone 16. That zone consists of irregular quartz veins, varying in thickness from centimetres to decimetres, and containing iron carbonate and very fine grains of visible gold. Surrounding these veins are altered rocks with 3%- 10% pyrite. The true width of the zone has yet to be determined.

Hole CC10-45, on zone 16, returned 73.54 grams gold per tonne over a width of 7 metres at a vertical depth of 250 metres, including 193.24 grams gold over 1 metre; 222.42 grams gold over 1 metre; 44.18 grams gold over 1 metre; and 22.49 grams gold over 1 metre. Hole CC-10-46 returned 22.76 grams gold over 0.5 metre at a vertical depth of 130 metres.

Drilling on the Mahoney zone uncovered an intercept of 12.31 grams gold over 0.8 metre at a vertical depth of 300 metres in a large altered and mineralized zone north of the Mahoney zone.

Since 1991, Richmont has produced more than 1 million oz. of gold from its operations in Quebec, Ontario and Newfoundland.

The 5,000-metre drill program at Cripple Creek began on Feb. 2 and is targeting depths below 400 metres. So far, the drilling is directed at the lateral extension of zone 16 to the west and the depth extension of the Mahoney zone, two of the three most encouraging zones that previous owners discovered in the 1980s and 1990s.

Richmont’s 100%-owned property, 20 km west of Timmins, Ont., is bordered by the Destor-Porcupine fault to the south and the Bristol fault to the north. It is 5 km to the southwest of Lakeshore Gold’s (LSG-T)Timmins West deposit, and is also adjacent to the Rusk Gold zone, the 144 Syenite Discovery zone and the Golden River trend.

Similar geologically to its neighbours, Cripple Creek consists of mafic and ultramafic volcanics that cover the main part of the property and sediments in the south.

The North-East/South-West structure, which extends through the middle of the property, includes the Timmins West deposit, the Rusk/Porphyry gold zones and the 144 Syenite Discovery zone.