• Minera Alamos (MAI) has achieved its commercial gold production thresholds at the Santana Project in Mexico
  • Minera Alamos is a new gold producer, and its Santana Project has been designed as a multi-phase pit and pad expansion for the Santana Mine
  • Approximately 13,000 ounces of gold were recovered during 2022 following the early ramp-up period
  • Total mine production rates exceeded initial target thresholds reaching over 10,000 tonnes per day through
  • Final approvals are pending for the next phase of pad expansion
  • Minera Alamos Inc. (MAI) is down 10.46 per cent, trading at $0.38 per share as of 12:38 p.m. EST

Minera Alamos (MAI) has achieved its commercial gold production thresholds at the Santana Project in Mexico.

Minera Alamos is a new gold producer, and its Santana Project has been designed as a multi-phase pit and pad expansion for the Santana Mine.

Following an end-of-year review, the company stated it met its initial thresholds during 2022, which included criteria related to gold recoveries from the heap leach pad as well as monthly mining rates in the second half of 2022.

According to the company, approximately 13,000 ounces of gold were recovered during 2022 following the early ramp-up period as the leach pad production grew into the second half of the year.

The total mine production rates exceeded Minera Alamaos’ initial target thresholds reaching over 10,000 tonnes per day. The combined average grades of mineralization stacked on the leach pad were in line with the company’s predictions.

The cut-off grade changes implemented from a 2021 review to better balance the division between run-of-mine and crushed material from the mine successfully removed bottlenecks related to the site crushing operations.

The company also successfully commissioned its limited on-site analysis facilities for blast hole and process solution samples and continues to expand these capabilities, which will be essential for the start of mining operations at the Nicho main zone.

Final approvals are pending for the next phase of pad expansion that may triple the leach pad capacity at the Santana mine while providing full access to the expanded Nicho deposits.

Minera Alamos Inc. (MAI) is down 10.46 per cent, trading at $0.38 per share as of 12:38 p.m. EST.


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