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Alamos Gold Extends High-Grade Gold Mineralization 300 Metres Down-Plunge from Mineral Resources in Island Gold East

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Alamos Gold Extends High-Grade Gold Mineralization 300 Metres Down-Plunge from Mineral Resources in Island Gold East

 

 

 

 

 

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

 

  • Island East Lower: high-grade gold mineralization significantly extended up to 300 metres down-plunge from existing Inferred Mineral Resources in Island East (MH27-02). This confirms high-grade mineralization extends east of the most easterly diabase dyke in a previously untested area. This is the deepest hole drilled to date at Island Gold confirming high-grade gold mineralization extends well beyond Mineral Resources to a depth of more than 1,700 m. Wide, high-grade gold mineralization was also extended 50 m beyond the nearest Inferred Mineral Resource block and down-plunge from previously reported drill hole MH25-08 (71.21 g/t Au (39.24 g/t cut) over 21.33 m), the best hole drilled to date at Island Gold. New highlights include:
    • 15.86 g/t Au (10.74 g/t cut) over 16.04 m (MH25-10);
    • 15.76 g/t Au (15.76 g/t cut) over 10.82 m (MH25-11); and
    • 11.90 g/t Au (11.90 g/t cut) over 4.60 m (MH27-02).
  • Island East Middle: underground exploration drilling continues to extend high-grade gold mineralization within the gap between Mineral Reserves and Resources in the upper and middle portions of Island East. New highlights include:
    • 12.03 g/t Au (12.03 g/t cut) over 8.26 m (840-602-23);
    • 9.65 g/t Au (9.65 g/t cut) over 7.16 m (840-608-09);
    • 14.24 g/t Au (13.88 g/t cut) over 3.77 m (840-602-29); and
    • 11.39 g/t Au (11.39 g/t cut) over 2.50 m (840-618-01A).

Note: Drillhole composite intervals reported as “cut” may include higher grade samples which have been cut to 185 g/t Au for the Island East Area.

 

“Ongoing exploration success at Island Gold continues to demonstrate the significant potential for further growth in Mineral Reserves and Resources. This included intersecting high-grade mineralization 300 metres beyond existing Mineral Resources in the deepest hole drilled to date at Island Gold. These results are in proximity to the planned shaft and highlight the tremendous upside potential beyond what was outlined in the Phase III Expansion study,” said John A. McCluskey, President and Chief Executive Officer.

 

New highlight intercepts can be found in Tables 1 and 2, and in Figures 1 to 3 at the end of this news release.

 

Island East

 

Surface Directional Drilling

 

Surface directional drilling continues to extend high-grade gold mineralization beyond Mineral Resource blocks in the lower portions of Island East (Figures 1 and 2). New highlights from the drilling program include (E1E-Zone) (Table 1):

  • 15.86 g/t Au (10.74 g/t cut) over 16.04 m (MH25-10);
  • 15.76 g/t Au (15.76 g/t cut) over 10.82 m (MH25-11);
  • 11.90 g/t Au (11.90 g/t cut) over 4.60 m (MH27-02); and
  • 9.07 g/t Au (9.07 g/t cut) over 2.12 m (MH27-01).

 

Drill holes MH25-10 (15.86 g/t Au (10.74 g/t cut) over 16.04 m) and MH25-11 (15.76 g/t Au (15.76 g/t cut) over 10.82 m) intersected wide, high-grade mineralization 50 m and 45 m beyond the nearest Inferred Mineral Resource block in Island East. These drill holes continue to extend gold mineralization down-plunge from drillhole MH25-08 (71.21 g/t Au (39.24 g/t cut) over 21.33 m), the best hole ever drilled at Island Gold, and drillhole MH25-04 (28.97 g/t Au (27.96 g/t cut) over 21.76 m) (both previously released; see press release dated June 15, 2021).

 

In addition, drill holes MH27-02 (11.90 g/t Au (11.90 g/t cut) over 4.60 m) and MH27-01 (9.07 g/t Au (9.07 g/t cut) over 2.12 m) intersected high-grade mineralization 300 m and 235 m from the nearest Inferred Mineral Resource block in Island East. Drillhole MH27-02 is the deepest hole drilled to date at Island Gold, intersecting high-grade mineralization at a depth of 1,717 m, well below existing Mineral Resources which extend to a depth of approximately 1,500 m. This also extended high-grade mineralization to within 200 m of the former Trillium Mining mineral tenure, reinforcing the strategic merit of acquiring Trillium and this property in December 2020.

 

Drill holes MH27-02 and MH27-01 targeted the main Island Gold zone to the east of a north-south trending diabase dyke which was emplaced along a pre-existing fault. The current geological interpretation, based on the initial holes, is that the zone appears to be displaced across the fault approximately 140 m to the north and closer to the planned shaft bottom. Additional drilling will be completed to confirm these intersections are within the same structure with the results to date highlighting the significant potential for further Mineral Reserve and Resource growth well below and down-plunge from existing Mineral Resources, and in closer proximity to planned infrastructure.

 

Underground Exploration Drilling

 

Underground drilling from the 840-level exploration drift continues to extend high-grade mineralization and close the gap between Mineral Reserves and Resources in the upper and middle portions of Island East (between depths of 800 m and 1,000 m) (Figure 3). New highlights include (E1E-Zone) (Table 2):

 

  • 12.03 g/t Au (12.03 g/t cut) over 8.26 m (840-602-23);
  • 9.65 g/t Au (9.65 g/t cut) over 7.16 m (840-608-09);
  • 14.24 g/t Au (13.88 g/t cut) over 3.77 m (840-602-29); and
  • 11.39 g/t Au (11.39 g/t cut) over 2.50 m (840-618-01A).

 

Other Zones

 

The Island Gold Deposit consists of a number of subparallel mineralized zones, with the majority of Mineral Reserves and Resources defined in the C Zone and E1E-Zone which constitute the main production horizons at the Island Gold Mine. Highlights of new intersections from underground and surface exploration drilling of parallel zones and zones in which the lateral continuity is not yet established (“Unknown Zone”) include (reported composite intervals are core lengths) (Tables 1 and 2):

 

  • 39.64 g/t Au (20.27 g/t cut) over 3.00 m (840-602-21); and
  • 10.28 g/t Au (10.28 g/t cut) over 7.05 m (840-530-02);

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 (“NI 43-101”).

 

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

 

Quality Control

 

Alamos Gold maintains an internal QA/QC program at the Island Gold Mine to ensure sampling and analysis of all exploration work is conducted in accordance with best practices.

 

Access to the Island Gold 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 laboratory in Thunder Bay, Ontario.

 

Gold is analyzed by a 50 grams fire assay with an Atomic Absorption (AA) finish. Samples greater than 6.5 g/t Au are re-analyzed using gravimetric finish methods. AGAT is a certified laboratory and has internal quality control programs that include insertion of reagent blanks, reference materials, and pulp duplicates.

 

The Corporation inserts QC samples (blanks and reference materials) at regular intervals to monitor laboratory performance. Cross check assays are completed on a regular basis in a secondary accredited laboratory. The QA/QC procedures are more completely described in the Technical Report filed on SEDAR August 31, 2020.

 

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 under the symbol “AGI”.

 

Table 1: Island Gold – Previously Unreleased Select Composite Intervals from Surface and Underground Directional Exploration Drilling

 

Composite intervals greater than 3 g/t Au weighted average, capping values:
Island East @ 185 g/t Au.

 

Hole ID Zone Target Area From (m) To (m) Core Length (m) True Width (m) Au Uncut (g/t) Au Cut (g/t) Vertical Depth (m)
MH25-10 E1E Island East 1622.60 1641.20 18.60 16.04 15.86 10.74 1497
MH25-11 E1E Island East 1642.07 1654.00 11.93 10.82 15.76 15.76 1532
MH27-01 E1E Island East 1764.90 1767.60 2.70 2.12 9.07 9.07 1641
MH27-02 E1E Island East 1824.45 1829.90 5.45 4.60 11.90 11.90 1717
840-530-02 Unknown Main Island 155.75 162.80 7.05 10.28 10.28 990

 

Table 2: Island Gold – Previously Unreleased Select Composite Intervals from Underground Exploration Drilling

 

Composite intervals greater than 3 g/t Au weighted average, capping values:
Island East @ 185 g/t Au.

 

Hole ID Zone Target Area From (m) To (m) Core Length (m) True Width (m) Au Uncut (g/t) Au Cut (g/t) Vertical Depth (m)
340-580-15 E1E Island East 185.70 190.30 4.60 2.34 5.20 5.20 432
840-584-04 E1E Island East 151.40 156.10 4.70 3.37 5.77 5.77 883
840-584-05 E1E Island East 208.20 214.50 6.30 3.82 4.62 4.62 961
840-590-03 E1E Island East 227.90 232.60 4.70 2.31 7.52 7.52 989
840-590-07 E1E Island East 174.55 177.70 3.15 2.20 12.01 12.01 929
840-602-21 E1E Island East 169.15 176.00 6.85 4.04 6.04 6.04 942
840-602-23 E1E Island East 146.10 157.80 11.70 8.26 12.03 12.03 911
840-602-24 E1E Island East 208.00 213.10 5.10 2.11 3.44 3.44 983
840-602-28 E1E Island East 184.30 189.00 4.70 3.48 4.67 4.67 959
840-602-29 E1E Island East 153.00 161.80 8.80 3.77 14.24 13.88 920
840-608-09 E1E Island East 148.32 156.34 8.02 7.16 9.65 9.65 903
840-618-01A E1E Island East 150.10 152.60 2.50 2.50 11.39 11.39 801
840-602-21 Unknown Island East 183.00 186.00 3.00 39.64 20.27 949

 

Table 3: Surface and underground directional drill holes; azimuth, dip, drilled length, and collar location at surface (UTM NAD83)

 

Hole ID Azimuth (°) Dip (°) Drilled Length (m) UTM Easting (m) UTM Northing (m) UTM Elevation (m) Comments
MH25-09 335 -80 712 692314 5351074 398 Cut from MH25-08 at 1037 m
MH25-10 335 -80 866 692314 5351074 398 Cut from MH25-09 at 1077 m
MH25-11 335 -80 1127 692314 5351074 398 Cut from MH25-06 at 699 m
MH26-04 339 -79 813 692210 5351208 394 Cut from MH26-03 at 933 m
MH26-05 339 -79 1142 692210 5351208 394 Cut from MH26-04 at 642 m
MH27-01 338 -76 2075 692344 5354146 392  
MH27-02 338 -76 949 692344 5351146 392 Cut from MH27-01 at 1051 m
MH28-01B 253 -84 1651 692681 5351670 397 Cut from MH28-01A at 350 m
620-623-08 124 -55 558 691707 5352177 -209  
620-623-09 124 -45 508 691707 5352177 -209  
740-471-43A 110 -66 428 690297 5351608 -369 Cut from 740-471-43 at 408 m
840-530-01 178 -67 587 690848 5351794 -469  
840-530-02 148 -63 630 690851 5351796 -466  

Note: UTM mine surface elevation 382 m

Table 4: UG Exploration drill holes; azimuth, dip, drilled length, and collar location at surface (UTM NAD83).

 

Hole ID Azimuth (°) Dip (°) Drilled Length (m) UTM Easting (m) UTM Northing (m) UTM Elevation (m)
340-580-15 169 -43 228 691267 5352110 72
340-580-16 148 40 117 691267 5352109 76
340-580-17 179 37 120 691266 5352109 75
620-623-13 152 -14 210 691707 5352177 -207
840-584-04 161 -17 246 691378 5351957 -457
840-584-05 154 -34 282 691378 5351957 -457
840-584-06 149 -21 238 691378 5351957 -457
840-590-02 152 -6 207 691441 5351957 -455
840-590-03 144 -41 270 691442 5351957 -456
840-590-07 151 -32 249 691441 5351957 -455
840-602-19 166 -18 192 691562 5351985 -453
840-602-21 151 -38 246 691560 5351985 -454
840-602-23 151 -30 213 691561 5351985 -453
840-602-24 166 -44 267 691560 5351985 -454
840-602-28 171 -42 246 691562 5351985 -452
840-602-29 173 -32 213 691560 5351985 -453
840-608-09 164 -27 198 691619 5352009 -452
840-618-01A 159 11 256 691696 5352056 -449
840-618-06 145 -31 282 691697 5352056 -451

Note: UTM mine surface elevation 382 m

 

Figure 1: Island Gold Mine Longitudinal is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/cfdbd081-4f7b-4a22-9c8d-ea96f837fe26

 

Figure 2: Island Gold Mine East Area Detailed Longitudinal – Surface Directional Drilling Results is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/11670b92-9c85-4189-a9c0-a3989d133d6d

 

Figure 3: Island Gold Mine East Area Detailed Longitudinal – Underground Drilling Results is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/c014af72-9c94-4ca9-bc62-818f4b5318cf

 

Posted November 11, 2021

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