Alamos Gold (TSX:AGI; NYSE:AGI) has announced new drilling results from its Island Gold mine in Ontario. The core assayed again with very high grades, up to 56.13 g/t gold over 2.1 metres.
High-grade mineralization has been extended outside of mineral reserves and resources in the E1E and C-Zones, the main structures hosting the majority of currently defined reserves and resources.
New highlights include:
Island West (C-zone)
Island East (E1E-zone)
High grade mineralization was also found in the North Shear and Webb Lake stock areas, offering potential additional mill feed for the expanded Magino milling complex.
"This is expected to contribute to another year of growth in high-grade mineral reserves and resources, as Island Gold continues to establish itself as one of the highest-grade and fastest growing deposits in the world,” said president and CEO John A. McCluskey. “This growth is supporting a longer mine life at Island Gold, which already exceeds 20 years, and additional synergies to be realized by processing Island Gold ore through the larger Magino mill.”
The company is exploring longer-term opportunities such as expanding the Magino pit onto the larger Island Gold district land package and identifying near-mine, higher-grade targets like the North Shear.
Alamos has budgeted US$19 million for exploration at Island Gold in 2024, up from US$14 million in 2023. The plan includes 41,000 metres of underground exploration drilling focused on defining new reserves and resources near existing production areas. Additionally, 32,000 metres of underground delineation drilling, included in sustaining capital, will focus on converting the large existing resource base to reserves.
To date, 28,003 metres of underground exploration drilling and 5,882 metres of surface drilling have been completed.
For more information, visit www.AlamosGold.com.
September 5, 2024
September 5, 2024
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