Mining

Alamos reports best hole to date at Island Gold

Underground directional drilling at the Island West target extended high grade mineralization 50 metres below the nearest Inferred resource block and partially closed the 185-metre gap between two high grade inferred blocks. Hole 740-471-41 returned an uncut 31.58 g/t gold (38.74 g/t cut) over 2.43 metres.

Alamos has budgeted C$25 million for the 2021 exploration program at Island Gold, up from C$13 million in 2020. The goal is to continue definition of new near-mine resources across the 2-km long Main zone.

Guidance for 2021 at the Island Gold mine is 130,000 to 145,000 oz. of gold at an all-in sustaining cost of $750 to $800 per oz.

(This article first appeared in the Canadian Mining Journal)

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