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Minera Alamos executes surface rights agreements for advancement of Cerro De Oro gold project in Mexico

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(Kitco News) - Minera Alamos (TSXV: MAI) announced Tuesday that it is in receipt of surface rights agreements for its Cerro De Oro gold project in northern Zacatecas, Mexico.

According to the company's statement, these agreements, finalized at meetings held last week will allow the company to finish remaining activities necessary for the permit application submission for the project.

This will incorporate all the engineering, geological and other geotechnical work completed to date that collectively represent the plan to develop the Cerro de Oro gold project into the company's second operating gold mine.

The company said that the surface rights for the development of the Cerro de Oro project cover adjacent areas located in the Melchor Ocampo municipality and the Ejido San Pedro de Ocampo, and allow for all activities necessary for the construction and subsequent operation of the Cerro de Oro gold mine.

Importantly, Minera Alamos noted that while the surface discussions were ongoing the company was able to complete the bulk of the engineering work required for the project development and can now move quickly to pull together the final submission of its permit applications for a new gold mine to be constructed at Cerro de Oro.

CEO Darren Koningen commented, "We look forward to the development of an exciting new gold mining area that will provide future economic benefits to all our local, regional and government stakeholders. With these surface rights negotiations complete we can now also turn our attention to other planned work programs for the project in the second half of 2022 including metallurgical optimizations, expansion and infill drilling, and regional discovery-led exploration."

Minera Alamos is a gold production and development company undergoing the operational startup of its first gold mine that produced its first gold in October 2021.

The company has a portfolio of Mexican assets, including the 100%-owned Santana open-pit, heap-leach mine in Sonora that is currently going through its operational ramp up; the 100%-owned Cerro de Oro oxide gold project in northern Zacatecas that has considerable past drilling and metallurgical work completed and could enter the permitting process rapidly; and the La Fortuna open pit gold project in Durango (100%-owned) that has a positive preliminary economic assessment completed and the main Federal permits in hand.


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