Minera Alamos (TSX.V: MAI)
Announced the results of an independent estimate of the Mineral Resources currently outlined at the Santana gold project in Sonora, Mexico.
The Resource Estimate was prepared in accordance with National Instrument 43-101
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Minera Alamos three projects in Mexico
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| Minera Alamos | TSX.v : MAI |
| Stage | Development |
| Metals | Gold |
| Market cap | C$174 m @ 34c |
| Location | Sonora, Zacatecas, Durango – Mexico |
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Minera Alamos Announces Maiden Resource Estimate for the Santana Gold Project, Sonora, Mexico
Cerro de Oro Funding Package Update
Toronto, Ontario – (Newsfile – October 3rd, 2023) Minera Alamos Inc. (“Minera” or the “Company”) (TSXV: MAI) is pleased to announce the results of an independent estimate of the Mineral Resources currently outlined at the Santana gold project (the “Project”) in Sonora, Mexico.
The Resource Estimate was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) by Scott Zelligan P.Geo, an independent QP as defined in NI 43-101.
A Technical Report with the details of the Resource Estimate will be filed on SEDAR plus under the Company’s profile within 45 days of the date of this news release.
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Darren Koningen, CEO, stated,
“This maiden resource covers just the development zones in the immediate area of the current Santana mine operations and is a major step in highlighting the robust resource data and metallurgical input that provided the Company with comfort in developing our first low capital mine.
“The next open pit in the development plans for the Project, the Nicho main zone, is largely drilled off in sufficient detail for the estimation of measured and indicated resources with a grade and strip (waste:mineralization) ratio that we expect to provide meaningful low-cost production gold ounces for the next 5-6 years as the rest of the property is explored and better understood.
“Notable nearby targets such as Benjamin which are outside of our current operations area have shown some excellent potential but will require more preliminary exploration and additional drilling to properly understand mineralization controls, grade distribution and tonnage.
“Ultimately, this current resource statement is just the first, conservative iteration of the geological potential across the broader Santana property with a goal of the current starter mine being a source of organic funding to prove up the greater potential of the area. “
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The Resource Estimate for the Santana gold project – contains 198,000 ounces of Measured and Indicated gold resources (9.61 Mt at 0.65 g/t) and an additional 103,000 oz of Inferred gold resources (5.51 Mt at 0.58 g/t). Table 1 shows the Mineral Resource estimate by zone for the Santana Project.
To read the full news release, please click HERE
Image – Visual Validation Angled Cross Section Nicho Gold Deposit
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds shares in Minera Alamos.
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