Make Kitco Your Homepage

Alamos intersects 1,519 gram-meter gold (uncut) at Island Gold

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Alamos Gold Inc. (TSX:AGI; NYSE:AGI), a Canadian-based intermediate gold producer, today reported new high-grade results from surface and underground exploration drilling at the Island Gold mine, further extending high-grade gold mineralization in Island East and West.

The company said that at Island East, high-grade gold mineralization extended 20 metres ("m") east from the nearest Inferred Mineral Resource block, over significantly greater widths. New drilling highlights include 71.21 g/t Au (39.24 g/t cut) over 21.33 m (MH25-08) for 1,519 gram-meter (uncut); and 34.87 g/t Au (34.87 g/t cut) over 5.98 m (MH25-07). All reported drill widths are true width of the mineralized zones, unless otherwise stated.

At Island West, underground directional drilling extended high-grade gold mineralization 50 m below the nearest Inferred Mineral Resource block and partially closed the 185 m gap between two high-grade Inferred Mineral Resource blocks. New drilling highlights include 31.58 g/t Au (28.74 g/t cut) over 2.43 m (740-471-41).

The company pointed out that over the past year, ongoing exploration success has driven another one million ounce increase in Mineral Reserves and Resources at Island Gold and returned the two best intersections to date.

President and CEO John A. McCluskey added, "We expect these new results to drive further Mineral Resource growth in one of the highest grade portions of the ore body. This already large Mineral Resource block in Island East is in proximity to the planned shaft and remains open laterally and down-plunge demonstrating further significant upside to the Phase III Expansion."

The company said that a total of $25 million is budgeted in 2021 for surface and underground exploration at Island Gold, up from $13 million spent in 2020. The focus remains on continuing to define new near mine Mineral Resources across the two-kilometer-long Island Gold Main Zone, as well as advancing and evaluating several regional targets.

Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos mine in Sonora State, Mexico. Additionally, the Company has a significant portfolio of development stage projects in Canada, Mexico, Turkey, and the United States.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.