Alamos Gold Inc. (
TSX:AGI;
NYSE:AGI) (“Alamos” or the “Company”) today reported new
results from ongoing surface exploration drilling within the
Mulatos District focused on defining higher-grade mineralization at
Puerto Del Aire (“PDA”) and Cerro Pelon.
Drilling at Cerro Pelon is following up on wide,
high-grade underground oxide and sulphide intersections previously
drilled below the Cerro Pelon open pit. The 2024 drill program has
successfully expanded high-grade mineralization beyond the
historical drilling in multiple oxide and sulphide zones.
Additionally, surface drilling has extended higher-grade
mineralization across multiple zones within the PDA area.
Ongoing exploration success is expected to
support further growth in Mineral Reserves and Resources at PDA,
and an initial underground Mineral Resource at Cerro Pelon with the
year-end update expected to be released in February 2025. The
success at both deposits highlights the significant exploration
upside opportunities to the PDA project, with an initial
development plan to be released today after market close.
Cerro Pelon exploration highlights:
step-out drilling below the previously mined oxide deposit has
identified significant high-grade feeder structures that range in
size from 45 to 125 metres (“m”) in width, and up to 170 m
vertically. The top portion of the mineralized zones contain oxide
mineralization including the historical intercept of 15.35 g/t Au
(14.04 g/t cut) over 25.04 m true width (15PEL012) drilled in
2015. Cerro Pelon is located nine kilometres (“km”) by
road from the planned PDA mill and represents a potential source of
additional high-grade mill feed. New highlights include1:
- 5.45 g/t Au over 27.90 m,
including 31.07 g/t Au over 1.25 m (24PEL048);
- 12.47
g/t Au (9.41 g/t cut) over 6.46 m, including 58.10 g/t Au (40.00
g/t cut) over 1.09 m (24PEL048);
- 4.79 g/t
Au over 15.82 m (24PEL071);
- 4.46 g/t
Au over 15.40 m (24PEL051);
- 5.64 g/t
Au over 12.16 m (24PEL059);
- 5.77 g/t
Au over 9.81 m (24PEL067); and
- 4.01 g/t
Au over 13.85 m (24PEL054).
PDA exploration highlights: additional
high-grade gold mineralization extended beyond Mineral Reserves and
Resources within the GAP-Victor, PDA3 and PDA Extension
zones. New highlights include1:
GAP-Victor Zone
- 5.43 g/t
Au over 18.05 m (23MUL278);
- 23.60
g/t Au over 3.00 m (24MUL302);
- 27.62
g/t Au (23.06 g/t cut) over 2.25 m (24MUL332);
- 12.28
g/t Au over 4.95 m (24MUL363); and
- 5.77 g/t
Au over 8.65 m (24MUL304).
PDA3 Zone
- 3.03 g/t
Au over 28.40m (24MUL347); and
-
6.63 g/t Au over 5.50 m (24MUL365).
PDA Extension Zone
- 36.20
g/t Au over 0.90 m (24MUL341);
- 3.51 g/t
Au over 5.05 m (24MUL315); and
- 4.16 g/t
Au over 4.20 m (24MUL283).
1All reported composite widths are estimated
true width of the mineralized zones. Drillhole composite gold
grades reported as “cut” at PDA and Cerro Pelon include higher
grade samples which have been cut to 40 g/t Au.
“Our PDA development plan to be released later
today is expected to outline another attractive, high-return
project that will nearly triple the current mine life of the
Mulatos District. The development plan will be based on PDA’s
current Mineral Reserve of one million ounces which had more than
doubled over the previous two years. Our continued exploration
success at PDA in 2024 highlights the significant upside potential
to the project through further growth in higher-grade Mineral
Reserves and Resources,” said John A. McCluskey, President and
Chief Executive Officer.
“The addition of a mill to process higher-grade
sulphide mineralization will also open up additional opportunities
within the Mulatos District, including Cerro Pelon, where we expect
to declare an initial Mineral Resource in early 2025. With PDA and
Cerro Pelon open in multiple directions, and a number of other
promising targets, there is excellent potential to continue
defining higher-grade Mineral Reserves and Resources across the
Mulatos District,” Mr. McCluskey added.
New highlight intercepts can be found in Table
1, and in Figures 2 through 4 at the end of this news release.
2024 Exploration Budget –
Mulatos
A total of $19 million has been budgeted at
Mulatos for exploration in 2024, consistent with 2023. The
near-mine and regional drilling program is expected to total 55,000
m, including 27,000 m of surface exploration drilling at PDA and
the surrounding area. Exploration activities are focused on
following up on a successful 2023 exploration program that drove a
33% increase in Mineral Reserves at PDA to 1.0 million ounces (5.4
mt grading 5.61 g/t Au), compared to 2022, with grades also
increasing 16%.
Given the ongoing growth of the PDA deposit,
other higher-grade sulphide opportunities are being targeted within
the Mulatos District, including below the previously mined Cerro
Pelon open pit.
Cerro Pelon
The 2024 drill program at Cerro Pelon is focused
on defining high-grade mineralization below the previously mined
open pit where wide, high-grade mineralization was intersected
across multiple drill holes between 2008 to 2017. Previously
reported highlights from 2015 and 2016 include2:
- 15.35 g/t Au
(14.04 g/t cut) over 25.04 m (15PEL012);
- 9.16 g/t Au
over 19.22 m (16PEL018);
- 10.36 g/t Au
over 17.40 m (15PEL020);
- 6.95 g/t Au
over 13.53 m (15PEL069); and
- 13.47 g/t Au
over 3.47 m (15PEL085).
2All reported historic composite widths are estimated true width
of the mineralized zones. Drillhole composite gold grades
reported as “cut” include higher grade samples which have been cut
to 40 g/t Au.
An initial 2,000 m of drilling was planned at
Cerro Pelon in 2024. Given the success to date, 8,864 m has been
completed and is reported in this release. High-grade gold and
silver mineralization is localized in pipe-like geometries at the
intersection of >500 m long north north-west structures, and
>400 m long east north-east structures, thought to represent
high sulphidation feeder zones. Drilling to date has defined
higher-grade mineralization 50 to 200 m below the Cerro Pelon pit
bottom. New highlights from this drilling include:
- 5.45 g/t Au over 27.90 m,
including 31.07 g/t Au over 1.25 m (24PEL048);
- 12.47
g/t Au (9.41 g/t cut) over 6.46 m, including 58.10 g/t Au (40.00
g/t cut) over 1.09m (24PEL048);
- 4.79 g/t
Au over 15.82 m (24PEL071);
- 4.46 g/t
Au over 15.40 m (24PEL051);
- 5.64 g/t
Au over 12.16 m (24PEL059);
- 5.77 g/t
Au over 9.81 m (24PEL067);
- 4.01 g/t
Au over 13.85 m (24PEL054);
- 4.42 g/t
Au over 9.55 m (24PEL066);
- 7.13 g/t
Au over 4.22 m (24PEL046);
- 4.46 g/t
Au over 5.07 m (24PEL070);
- 4.09 g/t
Au over 5.05 m (24PEL066);
- 3.22 g/t
Au over 6.38 m (24PEL074); and
- 4.73 g/t
Au over 3.57 m (24PEL054).
An objective of the 2024 drilling campaign is to
establish the shape and extent of the high-grade gold and silver
mineralization within the zones. Drilling to date has defined more
than five pipes with lateral dimensions ranging from 150 m by 100
m, to 75 m by 60 m, and vertical extents ranging between 40 m and
150 m. There is significant potential to expand the mineralization
in all directions with limited drilling completed beyond the five
feeders identified to date.
PDA – GAP-Victor, PDA3 and PDA Extension
Zones
PDA is a higher-grade underground deposit
located adjacent to the main Mulatos pit and is comprised of
multiple mineralized zones including PDA, Gap, Victor, and Estrella
(Figure 4). Ongoing exploration success has driven substantial
growth in the deposit over the past three years. In 2023, Mineral
Reserves increased 33% to 1.0 million ounces at 16% higher grades
of 5.61 g/t Au. Over the past two years, PDA’s Mineral Reserves
have more than doubled, at 20% higher grades. Combined Mineral
Reserves and Resources also increased 26% in 2023 to total 1.2
million ounces.
Given ongoing exploration success in 2024, and
with the deposit open in multiple directions, there is excellent
potential for this growth to continue. Over the past three years,
discovery costs at PDA have averaged $19 per ounce.
PDA is located adjacent to the Mulatos pit with
the underground deposit expected to be accessed from a ramp and
development drifts from within the pit. A development plan for PDA
will be released after market close today, based on Mineral
Reserves as of the end of 2023. Ongoing exploration success at PDA
and Cerro Pelon in 2024 represents upside to the project.
The initial focus of the surface exploration
program in 2024 has been on the GAP-Victor zones, and in the
relatively untested area between the PDA zones and GAP-Victor with
14,513 m of drilling completed to date. Another 10,937 m of
drilling was completed within PDA3 and PDA Extension. New
highlights from results received since the year end 2023 Mineral
Reserves and Resources include:
GAP-Victor Zone
- 5.43 g/t
Au over 18.05 m (23MUL278);
- 23.60
g/t Au over 3.00 m (24MUL302);
- 27.62
g/t Au (23.06 g/t cut) over 2.25 m (24MUL332);
- 12.28
g/t Au over 4.95 m (24MUL363);
- 5.77 g/t
Au over 8.65 m (24MUL304);
- 16.40
g/t Au over 1.50 m (24MUL294);
- 20.10
g/t Au over 1.20 m (24MUL304);
- 12.60
g/t Au over 1.90 m (24MUL273);
- 14.90
g/t Au over 1.50 m (24MUL314);
- 5.40 g/t
Au over 4.10 m (24MUL323);
- 8.97 g/t
Au over 2.10 m (24MUL290);
- 3.04 g/t
Au over 6.00 m (24MUL302);
- 15.90
g/t Au over 1.10 m (24MUL291); and
- 5.36 g/t
Au over 3.25 m (24MUL291).
PDA3 Zone
- 3.03 g/t
Au over 28.40 m (24MUL347);
- 6.63 g/t
Au over 5.50 m (24MUL365); and
- 8.09 g/t
Au over 2.70 m (24MUL349).
PDA Extension
- 36.20
g/t Au over 0.90 m (24MUL341);
- 3.51 g/t
Au over 5.05 m (24MUL315); and
- 4.16 g/t
Au over 4.20 m (24MUL283).
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” as defined by
Canadian Securities Administrators’ National Instrument 43-101 -
Standards of Disclosure for Mineral Projects.
Exploration programs at Mulatos are directed and
supervised by Michele Cote, P.Geo., Alamos Gold’s Chief Exploration
Geologist, Corporate. Michele Cote is a “Qualified Person” as
defined by Canadian Securities Administrators’ National Instrument
43-101 - Standards of Disclosure for Mineral Projects.
Quality Assurance and Quality
Control
Alamos Gold maintains an internal Quality
Assurance / Quality Control (QA/QC) program at Mulatos to ensure
sampling and analysis of all exploration work is conducted in
accordance with best practices.
Access to the Mulatos Property is controlled by
security personnel. The 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, based on lithology and alteration,
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 micropore sample bag
and sealed with a cable tie 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 micropore bags, which are identified and sealed before
being dispatched. The core samples are picked up at the mine site
and delivered to Bureau Veritas Commodities Canada Ltd. laboratory
in Hermosillo, Mexico.
Gold is analyzed by 30 grams Lead Collection
Fire Assay Fusion (FA) that ends with an Atomic Absorption
Spectroscopy finish (AAS). Samples greater than 5.0 g/t Au are
re-analyzed starting again with a FA process but ending with a
gravimetric finish (GRAV). Bureau Veritas is an ISO/IEC 17025
accredited laboratory and has internal quality control (“QC”)
programs that include insertion of reagent blanks, reference
materials, and pulp duplicates that are in line with normal
requirements, as well as participating in yearly proficiency tests
to evaluate lab performance.
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.
About Alamos
Alamos is a Canadian-based intermediate gold
producer with diversified production from three operations in North
America. This includes the Young-Davidson mine and Island Gold
District in northern Ontario, Canada, and the Mulatos District in
Sonora State, Mexico. Additionally, the Company has a strong
portfolio of growth projects, including the Phase 3+ Expansion at
Island Gold, and the Lynn Lake project in Manitoba, Canada. Alamos
employs more than 2,400 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”.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Scott K. Parsons |
|
Senior Vice President, Corporate Development & Investor
Relations |
|
(416) 368-9932 x 5439 |
|
The TSX and NYSE have not reviewed and do not accept
responsibility for the adequacy or accuracy of this release.
Cautionary Note
This news release includes certain statements
that constitute forward-looking information within the meaning of
applicable Canadian and U.S. securities laws ("forward-looking
statements"). All statements in this news release other than
statements of historical fact, which address events, results,
outcomes or developments that Alamos expects to occur are
forward-looking statements. Forward-looking statements are
generally, but not always, identified by the use of forward-looking
terminology such as “continue”, “ongoing”, "expect", "plan",
"estimate", “target”, “objective”, “budget”, “opportunity” or
“potential” or variations of such words and phrases and similar
expressions or statements that certain actions, events or
results "may", "could", "would", "might" or "will" be taken,
occur or be achieved or the negative connotation of such terms.
Such statements in this news release include,
without limitation, statements with respect to planned exploration
programs and focuses, potential drilling targets, results and
related expectations, costs and expenditures, project economics,
gold grades, mineralization, expected growth of PDA deposit,
expected method of mining the PDA deposit and the intended method
of processing ore from the PDA deposit, planned PDA mill, initial
underground Mineral Resource at Cerro Pelon, mine life and expected
mine life extension at Mulatos, returns to stakeholders and other
information that is based on forecasts and projections of future
operational, geological or financial results, estimates of amounts
not yet determinable and assumptions of management.
A Mineral Resource that is classified as
"inferred" or "indicated" has a great amount of uncertainty as to
its existence and economic and legal feasibility. It cannot be
assumed that any or part of an "Indicated Mineral Resource" or
"Inferred Mineral Resource" will ever be upgraded to a higher
category of Mineral Resource. Investors are cautioned not to assume
that all or any part of mineral deposits in these categories will
ever be converted into Proven and Probable Mineral Reserves.
Alamos cautions that forward-looking statements
are necessarily based upon several factors and assumptions that,
while considered reasonable by management at the time of making
such statements, are inherently subject to significant business,
economic, technical, legal, political and competitive uncertainties
and contingencies. Known and unknown factors could cause actual
results to differ materially from those projected in the
forward-looking statements, and undue reliance should not be placed
on such statements and information.
These factors and assumptions include, but are
not limited to: the actual results of current exploration
activities; conclusions of economic and geological evaluations;
changes in project parameters as plans continue to be refined; any
impacts of any illnesses, diseases, epidemics or pandemics on
operations and the broader market, including the nature and
duration of any regulatory responses; state and federal orders or
mandates (including with respect to mining operations generally or
auxiliary businesses or services required for the Company’s
operations) in Mexico; changes in national and local government
legislation, controls or regulations; failure to comply with
environmental and health and safety laws and regulations; labour
and contractor availability (and being able to secure the same on
favourable terms); ability to sell or deliver gold doré bars;
disruptions in the maintenance or provision of required
infrastructure and information technology systems; fluctuations in
the price of gold or certain other commodities such as, diesel
fuel, natural gas, and electricity; operating or technical
difficulties in connection with mining or development activities,
including geotechnical challenges and changes to production
estimates (which assume accuracy of projected ore grade, mining
rates, recovery timing and recovery rate estimates and may be
impacted by unscheduled maintenance); changes in foreign exchange
rates (particularly the Canadian dollar, U.S. dollar, and Mexican
peso); the impact of inflation; employee and community relations;
litigation and administrative proceedings; disruptions affecting
operations; availability of and increased costs associated with
mining inputs and labour; delays in the development or updating of
mine and/or development plans; changes that may be required to the
intended method of accessing and mining the deposit at Puerto Del
Aire and changes related to the intended method of processing any
ore from the deposit at Puerto Del Aire; inherent risks and hazards
associated with mining and mineral processing including
environmental hazards, industrial accidents, unusual or unexpected
formations, pressures and cave-ins; the risk that
the Company’s mines may not perform as planned; uncertainty
with the Company's ability to secure additional capital to execute
its business plans; the speculative nature of mineral exploration
and development, risks in obtaining and maintaining necessary
licenses, permits and authorizations, contests over title to
properties; expropriation or nationalization of property; political
or economic developments in Canada or Mexico and other
jurisdictions in which the Company may carry on business in the
future; increased costs and risks related to the potential impact
of climate change; the costs and timing of construction and
development of new deposits; risk of loss due to sabotage, protests
and other civil disturbances; the impact of global liquidity and
credit availability and the values of assets and liabilities based
on projected future cash flows; and business opportunities that may
be pursued by the Company.
For a more detailed discussion of such risks and
other factors that may affect the Company's ability to achieve the
expectations set forth in the forward-looking statements contained
in this news release, see the Company’s latest 40-F/Annual
Information Form and Management’s Discussion and Analysis, each
under the heading “Risk Factors”, available on the SEDAR website at
www.sedarplus.ca or on EDGAR at www.sec.gov. The foregoing should
be reviewed in conjunction with the information and risk factors
and assumptions found in this news release.
The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether written or oral, or whether as a result of new information,
future events or otherwise, except as required by applicable
law.
Note to U.S. Investors – Mineral Reserve
and Resource Estimates
Unless otherwise indicated, all Mineral Resource
and Mineral Reserve estimates included in this news release have
been prepared in accordance with National Instrument 43-101 -
Standards of Disclosure for Mineral Projects (“NI 43-101”) and the
Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”)
- CIM Definition Standards on Mineral Resources and Mineral
Reserves, adopted by the CIM Council, as amended (the “CIM
Standards”). NI 43-101 is a rule developed by the Canadian
Securities Administrators, which established standards for all
public disclosure an issuer makes of scientific and technical
information concerning mineral projects. Mining disclosure in the
United States was previously required to comply with SEC Industry
Guide 7 (“SEC Industry Guide 7”) under the United States Securities
Exchange Act of 1934, as amended. The U.S. Securities and Exchange
Commission (the “SEC”) has adopted final rules, to replace SEC
Industry Guide 7 with new mining disclosure rules under sub-part
1300 of Regulation S-K of the U.S. Securities Act (“Regulation S-K
1300”) which became mandatory for U.S. reporting companies
beginning with the first fiscal year commencing on or after January
1, 2021. Under Regulation S-K 1300, the SEC now recognizes
estimates of “Measured Mineral Resources”, “Indicated Mineral
Resources” and “Inferred Mineral Resources”. In addition, the SEC
has amended its definitions of “Proven Mineral Reserves” and
“Probable Mineral Reserves” to be substantially similar to
international standards.
Investors are cautioned that while the above
terms are “substantially similar” to CIM Definitions, there are
differences in the definitions under Regulation S-K 1300 and the
CIM Standards. Accordingly, there is no assurance any mineral
reserves or mineral resources that the Company may report as
“proven mineral reserves”, “probable mineral reserves”, “measured
mineral resources”, “indicated mineral resources” and “inferred
mineral resources” under NI 43-101 would be the same had the
Company prepared the mineral reserve or mineral resource estimates
under the standards adopted under Regulation S-K 1300. U.S.
investors are also cautioned that while the SEC recognizes
“measured mineral resources”, “indicated mineral resources” and
“inferred mineral resources” under Regulation S-K 1300, investors
should not assume that any part or all of the mineralization in
these categories will ever be converted into a higher category of
mineral resources or into mineral reserves. Mineralization
described using these terms has a greater degree of uncertainty as
to its existence and feasibility than mineralization that has been
characterized as reserves. Accordingly, investors are cautioned not
to assume that any measured mineral resources, indicated mineral
resources, or inferred mineral resources that the Company reports
are or will be economically or legally mineable.
Table 1: Select Composite Intervals from
new Surface Exploration Drilling and PDA and Cerro
Pelon
Composite intervals greater than 3 g/t Au
weighted average, capping values 40 g/t Au.
Hole ID |
Including |
From (m) |
To (m) |
Core Length (m) |
True Width (m) |
Au g/t uncut |
Au g/t cut |
Depth from Surface (m) |
23MUL273 |
|
139.90 |
141.80 |
1.90 |
1.90 |
12.60 |
12.60 |
136 |
23MUL274 |
|
172.55 |
173.15 |
0.60 |
0.60 |
3.15 |
3.15 |
163 |
23MUL276 |
|
176.20 |
179.65 |
3.45 |
3.45 |
3.51 |
3.51 |
167 |
23MUL276 |
|
205.75 |
206.30 |
0.55 |
0.55 |
7.97 |
7.97 |
194 |
23MUL277 |
|
107.40 |
108.90 |
1.50 |
1.50 |
4.20 |
4.20 |
106 |
23MUL278 |
|
65.25 |
83.30 |
18.05 |
18.05 |
5.43 |
5.43 |
74 |
23MUL279 |
|
109.75 |
112.00 |
2.25 |
2.25 |
3.01 |
3.01 |
109 |
24MUL283 |
|
249.10 |
253.30 |
4.20 |
4.20 |
4.16 |
4.16 |
246 |
24MUL290 |
|
133.10 |
135.20 |
2.10 |
2.10 |
8.97 |
8.97 |
129 |
24MUL291 |
|
176.15 |
177.25 |
1.10 |
1.10 |
15.90 |
15.90 |
169 |
24MUL291 |
|
167.45 |
170.70 |
3.25 |
3.25 |
5.36 |
5.36 |
162 |
24MUL292 |
|
117.60 |
118.40 |
0.80 |
0.80 |
3.86 |
3.86 |
109 |
24MUL293 |
|
255.90 |
257.60 |
1.70 |
1.70 |
4.22 |
4.22 |
253 |
24MUL294 |
|
273.00 |
274.50 |
1.50 |
1.50 |
16.40 |
16.40 |
107 |
24MUL302 |
|
158.85 |
161.85 |
3.00 |
3.00 |
23.60 |
23.60 |
156 |
24MUL302 |
|
189.60 |
195.60 |
6.00 |
6.00 |
3.04 |
3.04 |
156 |
24MUL303 |
|
268.40 |
270.40 |
2.00 |
2.00 |
3.83 |
3.83 |
100 |
24MUL304 |
|
51.80 |
60.45 |
8.65 |
8.65 |
5.77 |
5.77 |
52 |
24MUL304 |
|
159.65 |
160.85 |
1.20 |
1.20 |
20.10 |
20.10 |
149 |
24MUL304 |
|
145.35 |
149.85 |
4.50 |
4.50 |
3.22 |
3.22 |
137 |
24MUL304 |
|
176.95 |
178.25 |
1.30 |
1.30 |
4.73 |
4.73 |
165 |
24MUL311 |
|
394.50 |
395.10 |
0.60 |
0.60 |
3.06 |
3.06 |
389 |
24MUL312 |
|
187.75 |
188.35 |
0.60 |
0.60 |
4.01 |
4.01 |
174 |
24MUL314 |
|
137.00 |
138.50 |
1.50 |
1.50 |
14.90 |
14.90 |
125 |
24MUL314 |
|
197.30 |
200.00 |
2.70 |
2.70 |
3.31 |
3.31 |
181 |
24MUL315 |
|
77.45 |
82.50 |
5.05 |
5.05 |
3.51 |
3.51 |
44 |
24MUL315 |
|
68.35 |
70.15 |
1.80 |
1.80 |
3.12 |
3.12 |
38 |
24MUL317 |
|
163.40 |
165.55 |
2.15 |
2.15 |
4.38 |
4.38 |
162 |
24MUL318 |
|
217.50 |
218.20 |
0.70 |
0.70 |
3.48 |
3.48 |
211 |
24MUL319 |
|
175.20 |
176.25 |
1.05 |
1.05 |
3.01 |
3.01 |
170 |
24MUL323 |
|
240.75 |
244.85 |
4.10 |
4.10 |
5.40 |
5.40 |
233 |
24MUL323 |
|
198.85 |
199.70 |
0.85 |
0.85 |
3.08 |
3.08 |
191 |
24MUL326 |
|
157.15 |
158.10 |
0.95 |
0.95 |
3.77 |
3.77 |
111 |
24MUL331 |
|
114.35 |
116.70 |
2.35 |
2.35 |
4.02 |
4.02 |
112 |
24MUL332 |
|
56.75 |
59.00 |
2.25 |
2.25 |
27.62 |
23.06 |
52 |
24MUL333 |
|
88.50 |
89.35 |
0.85 |
0.85 |
5.20 |
5.20 |
88 |
24MUL341 |
|
310.20 |
311.10 |
0.90 |
0.90 |
36.20 |
36.20 |
297 |
24MUL343 |
|
278.25 |
279.10 |
0.85 |
0.85 |
4.17 |
4.17 |
278 |
24MUL344 |
|
236.25 |
238.95 |
2.70 |
2.70 |
3.41 |
3.41 |
229 |
24MUL345 |
|
242.80 |
243.35 |
0.55 |
0.55 |
3.22 |
3.22 |
243 |
24MUL347 |
|
343.10 |
371.50 |
28.40 |
28.40 |
3.03 |
3.03 |
356 |
24MUL349 |
|
373.95 |
376.65 |
2.70 |
2.70 |
8.09 |
8.09 |
371 |
24MUL350 |
|
276.00 |
277.65 |
1.65 |
1.65 |
3.22 |
3.22 |
273 |
24MUL355 |
|
153.45 |
154.95 |
1.50 |
1.50 |
4.61 |
4.61 |
152 |
24MUL358 |
|
126.80 |
127.30 |
0.50 |
0.50 |
3.16 |
3.16 |
127 |
24MUL359 |
|
207.20 |
209.60 |
2.40 |
2.40 |
5.46 |
5.46 |
197 |
24MUL361 |
|
120.60 |
121.25 |
0.65 |
0.65 |
3.04 |
3.04 |
119 |
24MUL361 |
|
133.90 |
135.30 |
1.40 |
1.40 |
11.20 |
11.20 |
132 |
24MUL361 |
|
141.95 |
142.80 |
0.85 |
0.85 |
3.41 |
3.41 |
140 |
24MUL362 |
|
113.35 |
116.75 |
3.40 |
3.40 |
4.18 |
4.18 |
115 |
24MUL363 |
|
44.45 |
45.95 |
1.50 |
1.50 |
4.04 |
4.04 |
40 |
24MUL363 |
|
66.15 |
71.10 |
4.95 |
4.95 |
12.28 |
12.28 |
61 |
24MUL363 |
|
214.00 |
214.60 |
0.60 |
0.60 |
3.83 |
3.83 |
191 |
24MUL365 |
|
271.05 |
276.55 |
5.50 |
5.50 |
6.63 |
6.63 |
260 |
24MUL365 |
|
329.70 |
332.55 |
2.85 |
2.85 |
4.11 |
4.11 |
315 |
24MUL365 |
|
347.80 |
348.75 |
0.95 |
0.95 |
3.42 |
3.42 |
331 |
24MUL367 |
|
272.90 |
273.45 |
0.55 |
0.55 |
23.50 |
23.50 |
268 |
24MUL370 |
|
300.35 |
301.25 |
0.90 |
0.90 |
5.70 |
5.70 |
283 |
24MUL371 |
|
270.95 |
272.35 |
1.40 |
1.40 |
3.30 |
3.30 |
243 |
24PEL042 |
|
218.90 |
220.50 |
1.60 |
0.92 |
3.08 |
3.08 |
183 |
24PEL046 |
|
123.65 |
139.95 |
16.30 |
4.22 |
7.13 |
7.13 |
128 |
24PEL048 |
|
80.90 |
124.30 |
43.40 |
27.90 |
5.45 |
5.45 |
71 |
|
including |
97.75 |
99.70 |
1.95 |
1.25 |
31.07 |
31.07 |
|
24PEL048 |
|
156.85 |
166.90 |
10.05 |
6.46 |
12.47 |
9.41 |
120 |
|
including |
165.20 |
166.90 |
1.70 |
1.09 |
58.10 |
40.00 |
|
24PEL051 |
|
126.30 |
156.20 |
29.90 |
15.40 |
4.46 |
4.46 |
122 |
24PEL054 |
|
186.65 |
236.90 |
50.25 |
13.85 |
4.01 |
4.01 |
204 |
24PEL054 |
|
150.45 |
150.45 |
12.95 |
3.57 |
4.73 |
4.73 |
151 |
24PEL055 |
|
110.10 |
113.10 |
3.00 |
1.89 |
3.84 |
3.84 |
85 |
24PEL055 |
|
141.15 |
144.30 |
3.15 |
1.98 |
3.10 |
3.10 |
109 |
24PEL057 |
|
155.80 |
156.70 |
0.90 |
0.59 |
16.70 |
16.70 |
117 |
24PEL059 |
|
260.70 |
286.60 |
25.90 |
12.16 |
5.64 |
5.64 |
243 |
24PEL066 |
|
263.80 |
294.70 |
30.90 |
9.55 |
4.42 |
4.42 |
271 |
24PEL066 |
|
225.00 |
241.35 |
16.35 |
5.05 |
4.09 |
4.09 |
220 |
24PEL066 |
|
250.15 |
251.00 |
0.85 |
0.26 |
3.17 |
3.17 |
237 |
24PEL067 |
|
150.90 |
168.00 |
17.10 |
9.81 |
5.77 |
5.77 |
131 |
24PEL070 |
|
144.00 |
158.15 |
14.15 |
5.07 |
4.46 |
4.46 |
140 |
24PEL071 |
|
265.20 |
298.90 |
33.70 |
15.82 |
4.79 |
4.79 |
249 |
24PEL074 |
|
260.45 |
273.20 |
12.75 |
6.38 |
3.22 |
3.22 |
229 |
Note : 24PEL series composites are calulated using a 2 g/t
Au cut-off with up to 7 m of internal waste. 23MUL and 24MUL series
composites are calculated using a 2 g/t Au cut-off with up to 5 m
of internal waste.
Table 2: Surface drill holes; azimuth,
dip, drilled length, and collar location at
surface(UTM Zone 12 NAD27)
Hole ID |
Azimuth |
Dip |
Drilled Length (m) |
UTM Easting (m) |
UTM Northing (m) |
UTM Elevation (m) |
23MUL273 |
305 |
-75 |
221.20 |
721510 |
3172231 |
1257 |
23MUL274 |
268 |
-70 |
230.50 |
721686 |
3172575 |
1159 |
23MUL276 |
305 |
-70 |
347.20 |
721538 |
3172040 |
1286 |
23MUL277 |
22 |
-78 |
239.40 |
721630 |
3172557 |
1164 |
23MUL278 |
0 |
-90 |
174.00 |
721602 |
3172373 |
1200 |
23MUL279 |
100 |
-80 |
479.40 |
721684 |
3172576 |
1159 |
24MUL280 |
336 |
-79 |
289.10 |
721992 |
3171545 |
1212 |
24MUL281 |
326 |
-46 |
193.50 |
721630 |
3172307 |
1220 |
24MUL282 |
210 |
-75 |
302.50 |
722379 |
3172560 |
973 |
24MUL283 |
245 |
-78 |
332.10 |
723002 |
3172406 |
952 |
24MUL284 |
245 |
-78 |
279.00 |
723257 |
3172212 |
949 |
24MUL285 |
274 |
-86 |
301.10 |
722032 |
3171599 |
1211 |
24MUL286 |
260 |
-58 |
195.85 |
721624 |
3172303 |
1220 |
24MUL287 |
140 |
-68 |
305.60 |
721372 |
3172189 |
1304 |
24MUL288 |
270 |
-78 |
201.00 |
721689 |
3172413 |
1167 |
24MUL289 |
150 |
-35 |
162.00 |
721359 |
3172417 |
1239 |
24MUL290 |
252 |
-75 |
209.30 |
721642 |
3172301 |
1221 |
24MUL291 |
6 |
-73 |
260.70 |
721283 |
3171771 |
1315 |
24MUL292 |
355 |
-67 |
182.30 |
721733 |
3172598 |
1156 |
24MUL293 |
330 |
-80 |
308.60 |
721416 |
3171812 |
1338 |
24MUL294 |
197 |
-21 |
455.40 |
721418 |
3172359 |
1229 |
24MUL295 |
80 |
-75 |
224.10 |
721650 |
3172252 |
1230 |
24MUL296 |
270 |
-60 |
291.95 |
721092 |
3170329 |
1363 |
24MUL297 |
349 |
-84 |
335.60 |
721517 |
3171872 |
1344 |
24MUL298 |
294 |
-68 |
299.10 |
721565 |
3172106 |
1268 |
24MUL299 |
270 |
-80 |
200.70 |
721598 |
3172262 |
1232 |
24MUL300 |
290 |
-65 |
324.00 |
721274 |
3170624 |
1324 |
24MUL301 |
283 |
-55 |
284.30 |
721564 |
3172106 |
1268 |
24MUL302 |
315 |
-76 |
220.10 |
721622 |
3172183 |
1246 |
24MUL303 |
97 |
-24 |
480.00 |
722438 |
3172366 |
981 |
24MUL304 |
155 |
-69 |
188.30 |
721690 |
3172411 |
1167 |
24MUL305 |
300 |
-65 |
258.00 |
721419 |
3170850 |
1236 |
24MUL306 |
40 |
-75 |
320.50 |
721670 |
3172283 |
1213 |
24MUL306B |
10 |
-75 |
320.50 |
721670 |
3172283 |
1213 |
24MUL307 |
302 |
-70 |
262.00 |
721555 |
3172074 |
1281 |
24MUL308 |
300 |
-60 |
306.00 |
722071 |
3170937 |
1101 |
24MUL309 |
304 |
-84 |
241.10 |
721490 |
3172216 |
1260 |
24MUL310 |
275 |
-66 |
200.50 |
721628 |
3172305 |
1220 |
24MUL311 |
337 |
-79 |
415.20 |
721964 |
3171936 |
1256 |
24MUL312 |
173 |
-68 |
200.50 |
721638 |
3172353 |
1202 |
24MUL313 |
300 |
-60 |
345.00 |
721860 |
3170802 |
1152 |
24MUL314 |
317 |
-65 |
290.00 |
721617 |
3172081 |
1268 |
24MUL315 |
180 |
-35 |
364.50 |
722315 |
3172375 |
993 |
24MUL316 |
30 |
-50 |
176.00 |
721491 |
3172278 |
1254 |
24MUL317 |
294 |
-80 |
355.10 |
721493 |
3172033 |
1290 |
24MUL318 |
335 |
-75 |
278.20 |
721301 |
3171801 |
1316 |
24MUL319 |
315 |
-76 |
263.10 |
721278 |
3171742 |
1320 |
24MUL320 |
284 |
-28 |
332.20 |
723258 |
3172207 |
949 |
24MUL321 |
350 |
-55 |
126.90 |
721491 |
3172278 |
1254 |
24MUL322 |
60 |
-80 |
206.10 |
721165 |
3172249 |
1260 |
24MUL323 |
328 |
-73 |
340.00 |
721460 |
3172014 |
1319 |
24MUL324 |
42 |
-39 |
462.00 |
722583 |
3171515 |
1044 |
24MUL325 |
220 |
-86 |
227.35 |
721704 |
3172175 |
1233 |
24MUL326 |
68 |
-44 |
351.00 |
723060 |
3172299 |
972 |
24MUL327 |
349 |
-83 |
248.35 |
721704 |
3172176 |
1233 |
24MUL328 |
355 |
-80 |
251.50 |
721593 |
3171998 |
1304 |
24MUL329 |
315 |
-68 |
437.00 |
722533 |
3171832 |
1172 |
24MUL330 |
279 |
-78 |
471.00 |
721919 |
3171974 |
1256 |
24MUL331 |
270 |
-76 |
160.10 |
721732 |
3172596 |
1155 |
24MUL332 |
200 |
-65 |
93.00 |
721581 |
3172367 |
1201 |
24MUL333 |
0 |
-80 |
114.00 |
721636 |
3172357 |
1202 |
24MUL334 |
315 |
-60 |
154.00 |
720767 |
3172121 |
1147 |
24MUL335 |
35 |
-70 |
281.50 |
720809 |
3172132 |
1144 |
24MUL336 |
290 |
-80 |
280.20 |
721420 |
3171812 |
1338 |
24MUL337 |
325 |
-25 |
159.00 |
721086 |
3172184 |
1231 |
24MUL338 |
183 |
-35 |
207.00 |
721464 |
3172408 |
1216 |
24MUL339 |
19 |
-76 |
281.20 |
721307 |
3171802 |
1316 |
24MUL340 |
43 |
-73 |
295.00 |
721283 |
3171770 |
1315 |
24MUL341 |
40 |
-72 |
333.00 |
722871 |
3172303 |
989 |
24MUL342 |
92 |
-86 |
372.00 |
722179 |
3172013 |
1160 |
24MUL343 |
82 |
-87 |
392.30 |
722174 |
3171910 |
1175 |
24MUL344 |
138 |
-74 |
265.00 |
722865 |
3172322 |
988 |
24MUL345 |
1 |
-87 |
400.00 |
722104 |
3171975 |
1199 |
24MUL346 |
257 |
-86 |
231.00 |
721637 |
3172076 |
1269 |
24MUL347 |
359 |
-84 |
417.50 |
721973 |
3171933 |
1256 |
24MUL348 |
219 |
-68 |
411.00 |
722119 |
3172066 |
1159 |
24MUL349 |
89 |
-81 |
400.00 |
722104 |
3171975 |
1199 |
24MUL350 |
150 |
-80 |
402.00 |
722047 |
3171836 |
1234 |
24MUL351 |
325 |
-62 |
160.10 |
721770 |
3172635 |
1149 |
24MUL352 |
355 |
-60 |
181.10 |
721690 |
3172410 |
1167 |
24MUL353 |
78 |
-74 |
250.50 |
721916 |
3172818 |
1130 |
24MUL354 |
140 |
-66 |
163.10 |
721641 |
3172673 |
1160 |
24MUL355 |
295 |
-80 |
186.00 |
721740 |
3172753 |
1155 |
24MUL356 |
131 |
-60 |
159.90 |
721771 |
3172636 |
1149 |
24MUL357 |
330 |
-65 |
250.50 |
721858 |
3173079 |
1072 |
24MUL358 |
140 |
-85 |
214.20 |
721641 |
3172672 |
1160 |
24MUL359 |
310 |
-71 |
358.10 |
721393 |
3171825 |
1338 |
24MUL360 |
319 |
-48 |
154.50 |
721736 |
3172646 |
1153 |
24MUL361 |
312 |
-79 |
190.30 |
721660 |
3172480 |
1175 |
24MUL362 |
160 |
-85 |
190.50 |
721773 |
3172784 |
1156 |
24MUL363 |
57 |
-63 |
238.00 |
721633 |
3172356 |
1202 |
24MUL364 |
0 |
-80 |
421.10 |
721973 |
3171933 |
1256 |
24MUL365 |
262 |
-70 |
402.00 |
722061 |
3171941 |
1219 |
24MUL366 |
25 |
-81 |
409.10 |
721974 |
3171933 |
1256 |
24MUL367 |
250 |
-78 |
355.50 |
722120 |
3172063 |
1159 |
24MUL368 |
110 |
-82 |
398.25 |
722105 |
3171976 |
1199 |
24MUL369 |
305 |
-82 |
198.00 |
721642 |
3172673 |
1160 |
24MUL370 |
337 |
-70 |
331.15 |
721399 |
3171820 |
1338 |
24MUL371 |
236 |
-64 |
321.00 |
721400 |
3172003 |
1330 |
24MUL372 |
155 |
-62 |
542.00 |
722557 |
3172094 |
1173 |
24MUL373 |
58 |
-63 |
228.00 |
721617 |
3172385 |
1196 |
24MUL374 |
300 |
-78 |
240.00 |
721630 |
3172558 |
1164 |
24MUL375 |
238 |
-79 |
502.00 |
722778 |
3171909 |
1209 |
24PEL042 |
71 |
-55 |
372.00 |
717973 |
3166170 |
1467 |
24PEL043 |
350 |
-60 |
237.00 |
718006 |
3166145 |
1458 |
24PEL044 |
351 |
-84 |
213.00 |
717983 |
3166238 |
1510 |
24PEL045 |
35 |
-60 |
207.00 |
717984 |
3166238 |
1510 |
24PEL046 |
35 |
-75 |
259.50 |
718020 |
3166367 |
1526 |
24PEL047 |
125 |
-63 |
455.25 |
717765 |
3166934 |
1447 |
24PEL048 |
230 |
-50 |
279.00 |
718156 |
3166235 |
1420 |
24PEL049 |
50 |
-70 |
456.00 |
717765 |
3166937 |
1447 |
24PEL050 |
235 |
-60 |
471.00 |
717148 |
3167221 |
1449 |
24PEL051 |
230 |
-59 |
382.50 |
718155 |
3166234 |
1420 |
24PEL052 |
221 |
-68 |
190.50 |
717982 |
3166236 |
1510 |
24PEL053 |
239 |
-66 |
273.00 |
718148 |
3166250 |
1424 |
24PEL054 |
229 |
-74 |
279.00 |
717983 |
3166236 |
1510 |
24PEL055 |
210 |
-51 |
172.50 |
718118 |
3166274 |
1441 |
24PEL056 |
194 |
-67 |
225.00 |
717982 |
3166236 |
1510 |
24PEL057 |
220 |
-49 |
195.00 |
718155 |
3166234 |
1420 |
24PEL058 |
45 |
-70 |
225.00 |
718020 |
3166366 |
1526 |
24PEL059 |
81 |
-62 |
354.80 |
717888 |
3166361 |
1577 |
24PEL060 |
70 |
-43 |
250.50 |
717786 |
3166067 |
1478 |
24PEL061 |
80 |
-42 |
228.00 |
717786 |
3166067 |
1478 |
24PEL062 |
80 |
-70 |
464.00 |
717888 |
3166361 |
1577 |
24PEL063 |
10 |
-70 |
252.00 |
718020 |
3166366 |
1525 |
24PEL064 |
80 |
-75 |
201.00 |
718020 |
3166366 |
1525 |
24PEL065 |
40 |
-63 |
243.00 |
718019 |
3166285 |
1495 |
24PEL066 |
247 |
-72 |
336.00 |
717983 |
3166238 |
1510 |
24PEL067 |
65 |
-55 |
202.50 |
718019 |
3166285 |
1495 |
24PEL068 |
101 |
-50 |
207.00 |
717786 |
3166067 |
1478 |
24PEL069 |
244 |
-78 |
96.00 |
717983 |
3166238 |
1506 |
24PEL070 |
235 |
-69 |
216.00 |
717983 |
3166238 |
1510 |
24PEL071 |
94 |
-62 |
330.00 |
717888 |
3166361 |
1577 |
24PEL072 |
244 |
-78 |
40.50 |
717983 |
3166238 |
1506 |
24PEL073 |
244 |
-78 |
223.50 |
717983 |
3166238 |
1506 |
24PEL074 |
65 |
-60 |
327.00 |
717888 |
3166361 |
1577 |
Figure 1: Puerto Del Aire and Cerro Pelon
Location Map, Mulatos District
Figure 2: Cerro Pelon – New Exploration
Highlights, Plan View
Figure 3: Cerro Pelon – Cross Section
Through Mineralization with New Exploration Highlights
Figure 4: Puerto Del Aire – New
Exploration Highlights, Plan View
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/84bdd582-1f0d-406e-8577-38f62b942ee4
https://www.globenewswire.com/NewsRoom/AttachmentNg/126252ce-ee38-47dd-be4d-a5e238844565
https://www.globenewswire.com/NewsRoom/AttachmentNg/59110573-e465-49cb-982e-37c768e17fe5
https://www.globenewswire.com/NewsRoom/AttachmentNg/68d3d464-6a3d-4346-aeeb-ab1bd988ec44
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