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Alamos Gold Continues to Intersect High-Grade Mineralization in New Area of Focus Between Eastern and Main Extensions at Island Gold

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Alamos Gold Continues to Intersect High-Grade Mineralization in New Area of Focus Between Eastern and Main Extensions at Island Gold

 

 

 

 

 

Alamos Gold Inc. (TSX:AGI) (NYSE:AGI) today reported new results from surface exploration drilling at the Island Gold Mine, further extending high-grade gold mineralization. All reported drill widths are true width of the mineralized zones, unless otherwise stated.

 

  • Eastern Extension: additional high-grade mineralization intersected in the previously untested area between the Eastern and Main Extensions. All five intersections drilled to date in this recently discovered area have intersected ore grade gold mineralization. This area is located within a 500 metre (“m”) gap between Inferred Mineral Resource blocks, and is only 1,000 m from surface and relatively close to existing infrastructure. New highlights include:
    • 74 g/t Au (58.62 g/t cut) over 3.94 m (MH18-05); and
    • 66 g/t Au (31.66 g/t cut) over 2.95 m (MH18-04);
  • Main Extension: high-grade mineralization extended 90 m east from the nearest previously reported intersection (MH17-01). High-grade mineralization has been extended over 1,000 m east of current mine workings and remains open along strike to the east and both up and down-plunge. New highlights include:
    • 08 g/t Au (14.21 g/t cut) over 6.27 m (MH17-06); and
    • 01 g/t Au (6.01 g/t cut) over 9.97 m (MH13-6).

 

Note: Drillhole composite intervals reported as “cut” may include higher grade samples which have been cut to 225 g/t Au for Main and Extension 1 areas, and 160 g/t Au for Extension 2 Area.

 

“Island Gold continues to be a tremendous success story on all fronts. We just received the Phase II expansion permit this past month and ongoing exploration success continues to support strong potential for additional growth in mineral reserves and resources and a Phase III expansion of the operation. We’re extending high-grade mineralization across all three areas of focus and see excellent potential within the recently discovered area between the Main and Eastern Extensions where we are continuing to close the gap between high-grade resources,” said John A. McCluskey, President and Chief Executive Officer.

 

2019 Drilling Program – Island Gold Mine

 

The focus of the 2019 exploration drilling program is to continue to expand the down-plunge and lateral extensions of the Island Gold deposit with the objective of adding new near mine Mineral Resources across the two-kilometre long Island Gold Main Zone (Figure 1).

 

The ongoing exploration program at Island Gold has been successful in extending high grade gold mineralization across each of the Main, Western, and Eastern Extensions. This has translated into significant growth in Mineral Reserves and Resources since the November 2017 acquisition of Island Gold.

 

A total of 17,873 m of surface directional exploration drilling has been completed to date in 2019. New highlight intercepts can be found in Figures 1 and 2 and Table 1 at the end of this news release.

 

The 2019 drill program includes 48,000 m of surface directional exploration drilling, 30,000 m of underground exploration drilling, 35,000 m of delineation drilling, and 917 m of exploration drift development.

 

Surface Exploration Drilling

 

Eastern Extension

 

Surface directional drilling within the Eastern Extension is focused on testing the new area of high-grade gold mineralization within the E1E Zone that was discovered in May 2019. This area is located down-plunge from known Inferred Resource blocks, between the 850 m and 1,150 m vertical depths, and previously reported high-grade intersections approximately 350 m further to the east (Figure 2). New highlights from the surface drilling program include (E1E-Zone) (Table 1):

 

  • 74 g/t Au (58.62 g/t cut) over 3.94 m (MH18-05); and
  • 66 g/t Au (31.66 g/t cut) over 2.95 m (MH18-04).

 

To date, five drill holes have been completed in this area with all intersecting ore-grade gold mineralization. This includes new drill holes MH18-05, which intersected 102.74 g/t Au (58.62 g/t cut) over 3.94 m and MH18-04 intersecting 31.66 g/t Au (31.66 g/t cut) over 2.95 m. These new intersections are located 120 m and 50 m west, respectively from previously reported drill hole MH18-03 which intersected 46.11 g/t Au (25.81 g/t cut) over 4.67m (see Press Release dated May 9, 2019).

 

These drill hole intersections are approximately 200 m down-plunge from the closest Inferred Mineral Resources in the Eastern Extension, and 300 m vertically above Inferred Mineral Resources defined in the eastern down-plunge extent of the Main Extension. Testing the potential continuity of high-grade mineralization between the Eastern and Main Extensions will be an ongoing focus in 2019 with this area having seen limited drilling to date. Two surface directional diamond drill rigs are active in this area, and will continue with 75 to 100 m spaced step-out drilling. 

 

Main Extension

 

Surface directional drilling to date in 2019 has been successful in continuing to extend gold mineralization with drill hole spacing ranging from 50 to 100 m (Figure 2).

 

New highlights from the surface drilling program include (E1E-Zone) (Table 1):

 

  • 08 g/t Au (14.21 g/t cut) over 6.27 m (MH17-06); and
  • 01 g/t Au (6.01 g/t cut) over 9.97 m (MH13-6).

 

New drillhole MH17-06 (24.08 g/t Au (14.21 g/t cut) over 6.27 m) has extended high-grade gold mineralization 90 m east from the nearest previously reported drill hole intersection from MH17-01 (56.60 g/t Au (50.87 g/t cut) over 5.66 m). Gold mineralization has been extended one kilometre to the east of existing mine workings. This east plunging high-grade ore shoot remains open laterally, up and down-plunge.

 

The 2019 exploration program will continue to focus on further extending high-grade mineralization with the objective of defining additional Mineral Resources in this area. Three surface directional diamond drill rigs remain active in the Main Extension target area.

 

Qualified Persons

 

Chris Bostwick, FAusIMM, Alamos Gold’s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this news release. Chris Bostwick is a Qualified Person within the meaning of Canadian Securities Administrator’s National Instrument 43-101.

 

Exploration programs at the Island Gold Mine are directed by Raynald Vincent, P.Eng., M.G.P., Chief Geologist at the Island Gold Mine and a Qualified Person within the meaning of NI 43-101.

 

Quality Control

 

Assays for the surface exploration drilling program were completed at LabExpert in Rouyn-Noranda, Quebec. The Corporation inserts at regular intervals quality control (QC) samples (blanks and reference materials) to monitor laboratory performance. Cross check assays are done on a regular basis in a second accredited laboratory. The Quality Assurance / Quality Control procedures are more completely described in the Technical Report filed on SEDAR by Richmont Mines, July 13, 2017.

 

About Alamos

 

Alamos is a Canadian-based intermediate gold producer with diversified production from four operating mines in North America. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos and El Chanate mines in Sonora State, Mexico. Additionally, the Company has a significant portfolio of development stage projects in Canada, Mexico, Turkey, and the United States. Alamos employs more than 1,700 people and is committed to the highest standards of sustainable development.

 

Posted June 10, 2019

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