Minera Alamos drills 93.5 m of 0.65 g/t Au at Santana
MINERA ALAMOS Inc. has provided the initial results from its phase 1 drill program at the Santana gold project, Sonora, Mexico. The 2018 drill program is the first exploration drilling to be conducted at Santana since 2011. The first three holes were drilled near or within the Nicho deposit and were intended to evaluate mineralized extensions of previous exploration programs. All drill holes encountered zones of disseminated gold mineralization. Initial results support the company’s long held belief that there are numerous exploration targets in the Santana project area that could add significantly to the continuing development plans of a proposed heap leach operation currently awaiting receipt of commercial-scale permits from the Mexican authorities (see release dated July 26, 2018). Drilling highlights:
• Hole S118-116 — 93.5 metres of 0.65 gram per tonne Au (from surface);
• Hole S118-115 — 17.8 m of 0.73 g/t Au;
• Hole S118-114 — 15.5 m of 0.27 g/t Au and 14.9 m of 1.4 g/t Au.
“In addition to near-term production potential, a criteria for all of the projects in the company’s development portfolio is that the concession areas contain significant exploration upside. While we have been aggressively pursuing production permits our exploration team has been working in parallel to expand geological models and target high-priority areas for resource expansion potential,” stated Darren Koningen, chief executive officer of Minera Alamos. “These very encouraging drill results at the Santana project are the start of an ongoing exploration
program designed to demonstrate the significant untapped value contained in our development assets.” Hole S118-116 was a stepout hole to assess the continuity of the southwest mineralization in the main Nicho zone. The hole returned 93.5 m of 0.65 g/t gold starting from just below the topographic surface. The application of a typical open-pit heap leach cut-off grade of 0.15 g/t results in over 60 m of mineralization containing approximately one g/t gold (see attached table).
Holes S118-114 and S118-115 were targeted to examine a satellite zone of gold mineralization located immediately to the northeast of the Nicho deposit and its potential continuity with the main gold system. Both holes intersected multiple zones of gold mineralization. The new data are currently being interpreted in the context of the updated geological model for the deposit and the area will be the target of follow-up efforts as part of the phase 2 drill program.
The phase 1 drilling program has now concluded with the completion of ten holes totalling approximately 1,500 m. The remaining holes yet to be reported include further testing of the southwest extensions of the Nicho deposit, in advance of mine planning activities in addition to new zones of mineralization located north of the main Nicho deposit.
(See MAI Table 1 on page 18)
Assay results are pending from the remaining seven holes and the results, as well as addition geological interpretations will be released as they are received over the coming weeks. All diamond drill samples were collected by Minera Alamos personnel including the company’s exploration geologists. Drill core samples were cut in half and divided into one to two m intervals. One-half of the sample was bagged for analysis and the remaining half was logged by Minera Alamos personnel and stored for future reference. Blanks, duplicates and standards were randomly inserted with the samples sent for analysis as part of the normal quality assurance/ quality control procedures. All samples were prepared and analyzed for gold using fire assaying with AA/gravimetric finish. All samples were sent for sample preparation at the ALSChemex facility in Hermosillo, Mexico. Darren Koningen, PEng, Minera Alamos’s chief executive officer, is the qualified person responsible for the technical content of this press release under National Instrument 43-101. Mr. Koningen has supervised the preparation of, and approved the scientific and technical disclosures in, this news release.
About Minera Alamos Inc. Minera Alamos is an advanced stage exploration and development company. Its growing portfolio of high-grade Mexican projects includes the La Fortuna open-pit gold project in Durango and the Guadalupe de los Reyes gold/silver project in Sinaloa as well as the now combined Santana/Los Verdes gold-copper project in Sonora. The company is well financed to conduct all of its planned exploration and development activities and continues to pursue additional project acquisitions in Latin America.
We seek Safe Harbor.
Robert Bruce Durham, Darren M Koningen, Chester Ferguson Millar, Ruben Padilla, Douglas William Ramshaw
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