Alamos Gold Unveils Exciting Developments at PDA Project
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Alamos Gold Expands High-Grade Mineralization
All financial mentions pertain to amounts in United States dollars unless specified otherwise.
Recently, Alamos Gold Inc. (TSX:AGI; NYSE:AGI), a notable player in the mining sector, shared exciting updates from their active drilling projects in the Mulatos District. The focus is primarily on the Puerto Del Aire (PDA) and Cerro Pelon sites, showing promising reserves of high-grade mineralization.
Exploration Success at Cerro Pelon
The drilling initiatives at Cerro Pelon seek to build upon previous impressive high-grade finds under the mined oxide deposit. The objective of the 2024 drilling program is to extend the high-grade mineral zones known as oxide and sulphide intersections. This program has already produced notable success beyond earlier historical drilling—setting the stage for expanded Mineral Reserves and Resources.
The ongoing drilling operations have uncovered significant high-grade structures that penetrate up to 170 meters in depth. An example of these notable findings includes a historical drill intercept of 15.35 g/t Au (with a cut of 14.04 g/t) over a true width of 25.04 meters.
Highlighted Intercepts from Cerro Pelon
- 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 over 6.46 m, including 58.10 g/t Au over 1.09 m (24PEL048).
- 4.79 g/t Au over 15.82 m (24PEL071).
- 5.64 g/t Au over 12.16 m (24PEL059).
PDA Exploration Highlights
At the Puerto Del Aire site, further high-grade gold mineralization has been confirmed, extending beyond previously recognized Mineral Reserves. Within this area, several key zones have yielded exceptional results.
Exciting Results from the PDA Project
- 5.43 g/t Au over 18.05 m (23MUL278).
- 23.60 g/t Au over 3.00 m (24MUL302).
- 12.28 g/t Au over 4.95 m (24MUL363).
- 6.63 g/t Au over 5.50 m (24MUL365).
Future Growth Potential
John A. McCluskey, President and CEO of Alamos, highlighted the anticipated development plan for PDA, which could nearly triple the existing mine life at Mulatos District. The current Mineral Reserve of one million ounces has shown substantial growth, having increased more than twofold over the last two years. McCluskey expresses optimism about the project's exploration prospects.
In addition to the drilling successes at PDA, the integration of a new mill to process high-grade sulphide mineralization holds potential benefits for both PDA and Cerro Pelon. With ample opportunity for continued exploration, these sites are set to become significant contributors to the company’s future.
2024 Exploration Budget Overview
For 2024, Alamos Gold has allocated an impressive $19 million for exploration activities in the Mulatos District. The ambitious drilling initiative is expected to cover about 55,000 meters, focusing on expanding the already promising PDA deposit and regional exploration targets.
The company’s exploration journey has yielded a 33% increase in Mineral Reserves at PDA, which boasts a current estimate of one million ounces—at an average grade of 5.61 g/t Au—compared to the previous year.
Concluding Remarks
As Alamos Gold Inc. moves forward with its comprehensive plans for the PDA project, the continuous exploration success positions the company for an exciting future. With potential reserves and mining prospects still open to exploration, Alamos is strategically set to enhance its market presence in the gold mining sector.
Frequently Asked Questions
What is the main focus of Alamos Gold’s current drilling efforts?
The main focus is on expanding high-grade mineralization at the Puerto Del Aire and Cerro Pelon sites.
How much has Alamos Gold budgeted for exploration in 2024?
Alamos Gold has budgeted $19 million for exploration activities in the Mulatos District for 2024.
What are some of the notable drill results announced?
Some notable results include 5.45 g/t Au over 27.90 m and 12.47 g/t Au over 6.46 m from Cerro Pelon.
What have been the changes in Mineral Reserves at PDA?
Mineral Reserves at PDA have doubled over the past two years, now estimated at one million ounces.
What strategies is Alamos Gold implementing for future growth?
Alamos Gold plans to integrate a mill for processing and expand exploration to enhance its resource base across the Mulatos District.
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