MONTREAL, QUEBEC, CANADA--(Marketwire -02/10/12)- Richmont Mines Inc. (TSX: RIC.TO - News)(AMEX: RIC.TO - News), ("Richmont" or the "Corporation") is pleased to announce results from its deep drilling program on its Island Gold Mine property (the "Property"). Highlights:
-- Four main zones (G, C, D and E1E) identified between -500 metres and -900 metres of vertical depth over a lateral strike length of 150 metres that span between the Lochalsh and Island Main zones;
-- Results include: 13.39 g/t Au over 4.84 metres and 16.42 g/t Au over 4.08 metres in Zone E1E, 22.08 g/t Au over 6.58 metres in the G Zone, 12.28 g/t Au over 7.24 metres and 27.26 g/t Au over 5.88 metres in Zone C, 33.36 g/t Au over 2.18 metres and 20.22 g/t Au over 2.05 metres in Zone D, and 13.23 g/t Au over 3.67 metres in Zone STH (just south of the G Zone) (all cut grades over true width);
-- 2011 deep exploration drilling at the Island Gold Mine encompassed 25 holes and wedges over a total of 23,000 metres; 2012 program will include 35,000 metres of surface and underground exploration drilling.
Easy Al novacaine...These drill results are BIG...With only 31M shares outstanding RIC would go up big without these results just based on their earnings and rising gold price...These results could make RIC go to price levels that would be considered out right crazy if I said the number....Think triple digits more than once.