MONTREAL, QUEBEC, Apr 12, 2010 (Marketwire via COMTEX News Network) -- Richmont Mines Inc. (TSX:RIC)(NYSE Amex:RIC)("Richmont" or "the Company") is pleased to announce preliminary assay results from the surface drilling program at the Company's 100%-owned Cripple Creek property, located west of the Timmins Gold Deposit in Ontario. Exploration results obtained so far are very promising and confirm the overall potential of this asset.
Highlights of the results include:
- 73.54 g/t Au (20.71 g/t Au cut at 30 g/t Au) over 7 metres
- Including 193.24 g/t Au over 1 metre, 222.42 g/t Au over 1 metre,
44.18 g/t Au over 1 metre, and 22.49 g/t Au over 1 metre
- 22.76 g/t Au over 0.5 metres
- 12.31 g/t Au over 0.8 metres
President and CEO Martin Rivard noted: "We are very excited about the results obtained to date from our surface drilling program on Cripple Creek, as they reaffirm the true potential of this property. We hope to complete this first phase of drilling in the coming weeks, and plan to evaluate future drilling options once the full results are in."
RIC has too many coals in the fire, which is why they can't make money to begin with. They are exploring and developing all over the place at the expense of mining and selling real ore at a profit. They are wasting today's high gold prices on scattered exploration and development in a variety of areas. They need to concentrate on one or two things and do those right. Their expenses are too high to produce profits.