https://www.miningweekly.com

Alamos Gold lifts resources 31%

Alamos Gold lifts resources 31%

Photo by Bloomberg

31st March 2014

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – Canadian miner Alamos Gold on Monday announced that it had lifted its total National Instrument 43-101-compliant measured and indicated resources by 31% to 6.67-million ounces of gold at various cutoff grades, marking a 24% increase on a per-share basis and reflecting the acquisition of the Esperanza gold project last year.

The Toronto-based miner said that at its flagship Mulatos mine, in Mexico, the proven and probable reserves totalled 2.03-million ounces of gold, which at current throughput rates, implied a remaining reserve life of about eight years.

The reserve grade increased 8% to 1.15 g/t of gold, and the total amount of ounces decreased 14%, reflecting depletion and the company using a lower gold price assumption, resulting in a smaller but higher-quality mineral reserve at Mulatos.

At the underground operations, Alamos also lifted the reserve grade at the San Carlos and Escondida Deep deposits by 41% to 7.1 g/t gold, resulting in reserve ounces rising by 16% to 219 285 oz of gold.

At Alamos’ Turkish development project of Ağı Dağı, Kirazlı and Çamyurt, the measured and indicated mineral resources rose by 20% to 2.92-million ounces and the grade improved by 8%, driven by the conversion of 80% of the inferred mineral resource at Çamyurt.

Alamos said that given its proximity to Ağı Dağı, the Çamyurt conversion was expected to enhance the economics of Ağı Dağı as outlined in the 2012 prefeasibility study. Since acquiring the projects in 2010, the company had grown the measured and indicated mineral resource by 126%.

The company also reported inferred mineral resources rising 142% to 3.68-million ounces of gold at various cutoff grades, representing a 129% increase on a per-share basis reflecting the acquisitions of the Esperanza gold project and the Quartz Mountain property, in Oregon.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rio-Carb
Rio-Carb

Rio Carb is an OEM (Original Equipment Manufacturer) of R-C700 Chromium Carbide (CrC) alloy clad wear plates and pipes used for heavy materials...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.052 0.914s - 128pq - 2rq
Subscribe Now