EXPLORATION & DEVELOPMENT

Island Gold continues to impress

Alamos Gold (TSX:AGI) of Toronto has extended gold mineralisation at the Island Gold mine in Ontario 60m east of the previous nearest intersection.

Staff Reporter
Exploration at Alamos Gold's Island Gold mine continues to impress

Exploration at Alamos Gold's Island Gold mine continues to impress

The company reported strong intersections from surface and underground exploration drilling on the main extension that included the best surface directional drilling intersection to date. New highlights included 118.58 grams per tonne gold (39.99g/t cut) over 6.66m; 21.5g/t (13.70g/t cut) over 7.8m; and 31.7g/t (14.51 g/t cut) over 3.81m.

Alamos said high-grade mineralisation now extended nearly 1,000m east of the current mine workings and remained open to the east and down-plunge.

Drilling on the western extension confirmed high-grade mineralisation extended laterally and down-plunge from existing inferred resource. The new highlights included 78.26g/t gold (67.74 g/t cut) over 2.29 m; and 19.69g/t (19.69 g/t cut) over 2.79m.

The company also reported drilling on the eastern extension confirmed high-grade mineralisation extended below and east of existing inferred and indicated resources. Mineralisation remained open down-plunge. Highlights from this area included 46.13g/t gold (44.17 g/t cut) over 2.83m; and 13.72g/t (13.72 g/t cut) over 7.6m.

"Island Gold continues to impress. In less than a year since we acquired the mine, we've seen a 17% increase in mineral reserve grades and significant growth in mineral reserves and resources across all categories," CEO John McCluskey said.

He suggested the ongoing exploration success across all three extensions of the ore body, including the best surface directional hole drilled to date, demonstrated strong potential for this to continue.

Alamos shares edged 2.36% higher Monday to C$5.20, which gave the company a market value of $2.03 billion.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.