- Alamos Gold (AGI) has reported new results from surface and underground exploration drilling at its Island Gold mine
- The new results further extend high-grade gold mineralization to the east and west, the best results received at the property to date
- A total of $25 million is budgeted in 2021 for surface and underground exploration at Island Gold, up from $13 million spent in 2020
- Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America
- Alamos Gold Inc. (AGI) closed trading at $10.78 per share
Alamos Gold (AGI) has reported new results from surface and underground exploration drilling at its Island Gold mine.
The new results further extend high-grade gold mineralization to the east and west, the best results received at the property to date.
At Island East, high-grade gold mineralization extended 20 metres east from the nearest inferred mineral resource block, including 71.21 g/t Au over 21.33 metres.
At Island West, underground directional drilling extended high-grade gold mineralization 50 metres below the nearest inferred mineral resource block and partially closed the 185-metre gap between two high-grade inferred mineral resource blocks.
Highlights from Island West include 31.58 g/t Au over 2.43 metres.
“We expect these new results to drive further Mineral Resource growth in one of the highest grade portions of the ore body,” said John A. McCluskey, president and CEO of Alamos Gold.
“Over the past year,” he added, “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.”
A total of $25 million is budgeted in 2021 for surface and underground exploration at Island Gold, up from $13 million spent in 2020.
Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America.
