The Prospector News

Alamos Gold Extends Gold Mineralization Below Mineral Reserves and Resources at Young-Davidson Including Intersecting Higher Grades in Hanging Wall and Footwall

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Alamos Gold Extends Gold Mineralization Below Mineral Reserves and Resources at Young-Davidson Including Intersecting Higher Grades in Hanging Wall and Footwall

 

 

 

 

 

Alamos Gold Inc. (TSX:AGI) (NYSE:AGI) reported results from the ongoing underground exploration drilling program at Young-Davidson which has been successful at extending gold mineralization outside of Mineral Reserves and Resources.

  • Gold mineralization extended 150 metres below existing Inferred Mineral Resources (YMEX21-8960-021). This follows a 220 m extension of gold mineralization in 2020 which contributed to an increase in Inferred Mineral Resources in the year-end update. New highlights include:
    • 5.32 g/t Au (3.35 g/t cut) over 39.20 m (34.57 m true width) including 21.96 g/t Au (9.78 g/t cut) over 6.20 m (5.47 m true width) (YMEX20-8960-008)1;
    • 5.42 g/t Au over 12.75 m (11.25 m true width) including 32.30 g/t Au over 0.65 m (0.57 m true width) (YMEX21-8960-016); and
    • 4.36 g/t Au over 9.00 m (YMEX21-8960-021).
  • High-grade mineralization intersected 200 m outside of the syenite in the hanging wall (YMEX20-8960-014), as well as in the footwall of the deposit (YMEX20-8960-011) highlighting significant near-mine exploration potential outside of the known ore body. New highlights include:
    • 5.79 g/t Au over 13.70 m including 24.14 g/t Au over 1.85m (YMEX20-8960-014); and
    • 8.32 g/t Au over 6.30 m (3.84 m true width) including 22.50 g/t Au over 1.20 m (0.73 m true width) (YMEX20-8960-011)1.

 

Note: Drillhole composite intervals reported as “cut” include higher grade samples that have been cut to 25 g/t Au. All composite intervals are reported as core length unless true width has been determined.

1 Drillhole completed in 2020 and included in year-end 2020 Mineral Reserves and Mineral Resources for Young-Davidson.

 

“With improved access from the lower mine, we have begun testing the potential below the existing deposit which remains open at depth and to the west. The early results are very promising, extending similar style gold mineralization below Mineral Reserves and Resources within the syenite that hosts the existing ore body. High-grade mineralization was also intersected in structures outside of the syenite in both the hanging wall and footwall. Both demonstrate the significant potential to add Mineral Reserves and Resources below the existing deposit, and at potentially higher grades within adjacent structures,” said John A. McCluskey, President and Chief Executive Officer.

 

2021 Exploration Drilling Program – Young-Davidson Mine

 

A total of $7 million is budgeted for exploration at Young-Davidson in 2021. This represents the first significant exploration program at Young-Davidson since 2011 with the focus over the last several years having been on completing the lower mine expansion, combined with the fact that Young-Davidson had a large existing Mineral Reserve base with a Reserve life of approximately 14 years as of the end of 2020. Additionally, the new lower mine infrastructure provides improved access to drill from underground at depth.

 

The 2021 program includes 13,000 m of underground exploration drilling and 560 m of underground exploration development to establish drill platforms on the 9220-level. The focus of the underground exploration drilling program is to expand Mineral Reserves and Resources in five target areas that have been identified within proximity to existing underground infrastructure. In addition, 7,500 m of surface drilling is planned in the second half of 2021 to test near-surface targets in proximity to Young-Davidson and on several regional targets across the property.

 

Underground exploration drilling is being conducted from drill bays established in the lower mine infrastructure at the 8990 and 8960 levels. A total of nine holes (6,513 m) were completed in 2020 (from the 8990 and 8960 levels). Three (plus one on-going) underground exploration holes totalling 3,182 m have been completed from the 8960 level in 2021. A second underground exploration drill is also testing exploration targets in the eastern extent of the mine from the 9470 and 9590 levels, where eleven underground exploration holes totalling 3,762 m have been completed as of June 30th.

 

New highlight intercepts from the 8960 level drilling can be found in Table 1 and in Figures 1 and 2 at the end of this news release.

 

Underground Exploration Drilling

 

The current program is targeting the down-plunge extension of gold mineralization within the Young-Davidson syenite which hosts the majority of the Mineral Reserves and Resources, while also testing the prospective and underexplored footwall Timiskaming sediments and hanging wall Tisdale mafic-ultramafic assemblages.

 

Since commencing underground exploration drilling in 2020, the program has been successful in extending syenite-hosted gold mineralization 220 m below the previous Mineral Resource (year-end 2019), contributing to an increase in Inferred Mineral Resources to 0.2 million ounces in the year-end 2020 Mineral Reserve and Resource update. Exploration drilling in 2021 has further extended syenite-hosted gold mineralization another 150 m below existing Mineral Resources and Reserves (YMEX21-8960-021).

 

High-grade gold mineralization was also intersected in structures both within the hanging wall ultramafic-mafic stratigraphy, and within the footwall sediments. Further drilling will be completed to evaluate the geometry and continuity of the mineralized structures. These initial exploration results outside of the Young-Davidson syenite highlight the significant near-mine exploration potential at Young-Davidson.

 

Drillhole YMEX20-8960-008 intersected 5.32 g/t Au (3.35 g/t cut) over 39.20 m (34.57 m true width) including 21.96 g/t Au (9.78 g/t cut) over 6.20 m (5.47 m true width) within syenite. The syenite remains open to the northwest and southeast, as well as down-dip, and within the 90 m gap above this intersection and below the Mineral Reserve and Mineral Resource above.

 

Drillhole YMEX20-8960-014 intersected a high-grade structure 200 m south of hanging wall contact of the syenite within ultramafic-mafic lithologies beyond the limits of any previous drilling. This structure returned 5.79 g/t over 13.70 m including 24.14 g/t Au over 1.85m.

 

Drillhole YMEX21-8960-016 intersected 5.42 g/t Au over 12.75 m (11.25 m true width) including 32.30 g/t Au over 0.65m (0.57 m true width) within syenite. Mineralization within the syenite remains open in this area to the southeast and down-dip.

 

Drillhole YMEX20-8960-011 intersected 8.32 g/t Au over 6.30 m (3.84 m true width), including 22.5 g/t over 1.20 m (0.73 m true width) in a shear zone developed within the footwall sediments, 100 m from the contact with the syenite.

 

Qualified Persons

 

Scott R.G. Parsons, P.Geo., FAusIMM, Alamos Gold’s Vice President, Exploration, has reviewed and approved the scientific and technical information contained in this news release. Scott R.G. Parsons is a Qualified Person within the meaning of Canadian Securities Administrator’s National Instrument 43-101.

 

Mine Exploration drilling programs at Young-Davidson are directed by Mynyr Hoxha, P.Geo., Chief Geologist at the Young-Davidson Mine and a Qualified Person within the meaning of NI 43-101.

 

Quality Control

 

Alamos Gold maintains an internal quality assurance and quality control “QA/QC” program at the Young-Davidson Mine to ensure sampling and analysis of all exploration work is conducted in accordance with best practices.

 

Access to the Young-Davidson Mine is controlled by security personnel. Drill core is logged and sampled at the core logging facility within the mine site under the supervision of a Qualified Geologist. A geologist marks the individual samples for analysis, and sample intervals, sample numbers, standards and blanks are entered into the database. The core is cut in half using an electric core saw equipped with a diamond tipped blade. One half of the core is placed into a plastic sample bag and sealed with zip ties in preparation for shipment. The other half of the core is returned to the core box and retained for future reference. The samples are placed in large heavy-duty nylon reinforced Fabrene bags, which are identified and sealed before being placed on pallets. The core samples are picked up at the mine site and delivered to AGAT Laboratories in Timmins, Ontario.

 

Gold is analyzed by a fire assay (30 grams) with an Atomic Absorption (AA) finish. Samples greater than 8 g/t are re-analyzed using gravimetric finish methods. AGAT Laboratories has internal quality control (“QC”) programs that include insertion of reagent blanks, reference materials, and pulp duplicates.

 

QC samples (blanks, duplicates and reference materials) are inserted at regular intervals to monitor laboratory performance. Check assays are completed on a regular basis in a secondary accredited laboratory.

 

About Alamos

 

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. Alamos employs more than 1,700 people and is committed to the highest standards of sustainable development. The Company’s shares are traded on the TSX and NYSE.

 

Posted July 13, 2021

Share this news article

MORE or "UNCATEGORIZED"


BHP increases all-cash offer for Noront to C$0.75 per share

Noront recommends shareholders accept improved BHP offer &... READ MORE

October 20, 2021

NioBay Metals comes to an agreement with SOQUEM for the sale of properties

NioBay Metals Inc. (TSX-V: NBY) (OTCQB: NBYCF), a company focused... READ MORE

October 20, 2021

Signature Resources Drills 5.44 g/t over 6.0 Metres; Including 17.20 g/t over 1.0 Metre at Its Lingman Lake Project

Signature Resources Ltd. (TSX-V: SGU) (OTCQB: SGGTF) (FSE: 3S3) i... READ MORE

October 20, 2021

Santacruz Silver Reports Q3 2021 Production of 872,913 Silver Equivalent Ounces

Santacruz Silver Mining Ltd. (TSX-V: SCZ) reports its operating r... READ MORE

October 20, 2021

Monarch Mining Intersects Significant Gold Mineralization 1 km South of the McKenzie Break Deposit

Results from McKenzie Break’s regional exploration drilling pro... READ MORE

October 20, 2021

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2021 The Prospector News