Alamos significantly expands land package around Island Gold

18th December 2020 By: Creamer Media Reporter

Alamos significantly expands land package around Island Gold

Midtier miner Alamos Gold has completed the C$25-million acquisition of Trillium Mining, which handed it a large land package of 5 418 ha directly adjacent to, and along strike, from the Island Gold deposit in Ontario.

The acquisition has significantly expanded the company’s land package around the Island Gold mine to 14 929 ha, a 57% increase.

CEO John McCluskey comments that the acquisition of Trillium is consistent with Alamos’ strategy of consolidating prospective land in proximity to its Island Gold mine, where it has had “tremendous” exploration success over the last several years,

“Island Gold’s mineral reserve and Rrsource base has more than doubled since 2017. We see excellent potential for this growth to continue given ongoing exploration success. The acquisition of these claims ensure we maintain full ownership over future growth of the existing deposit and regionally where there have been a number of high-grade gold occurrences including two past producing mines,” he stated.

Based on the current geological interpretation of the E1E structure which hosts the Island Gold deposit, there is strong potential for the structure to extend onto the Trillium mineral tenure. This is further supported by recent drilling, including the best surface exploration hole to date, MH25-04 grading 28.97 g/t over 21.76 m true width, and MH25-03 grading 15.38 g/t over 15.02 m.

The Trillium land package also provides significant regional exploration potential, adding 10 km of strike extent within the Goudreau Lake Deformation Zone (GLDZ), a primary control on gold mineralisation within the Goudreau-Lochalsh segment of the Michipicoten Greenstone Belt. Alamos’ consolidated land package now covers a total of 17 km of highly prospective structures and stratigraphy within the GLDZ. In addition to the Island Gold and Kremzar Deposits, this now includes two past producing gold mines (Cline and Edwards), as well as several historic high-grade gold showings, including the Markes and Vega Zones.

The larger consolidated land package will allow for Alamos to apply a systematic, district scale approach to exploration with targeting based on greenstone belt scale structural and stratigraphic controls on gold mineralization.

Included within the Trillium land package is the Highland property, which is in the final year of a five-year option agreement. Following the exercise of the option, expected on February 26, 2021, Alamos will own 100% of the Highland property.