As Alamos Gold (TSX:AGI; NYSE:AGI) continues underground drilling at the Island gold mine near Wawa, Ont., the company is expanding high-grade mineralization within the main E1E and C zones, as well as several hanging wall and footwall structures near the existing underground development.
The underground results come from zones that host the majority of currently defined reserves and resources. Here are highlights:
Island East (E1E zone)
Island West (C zone)
The highest grade drilled in the Footwall zones was 168.03 g/t gold (27.88 g/t cut) over 3.1 metres. The best assay from the West Hanging Wall zones was 122.37 g/t gold (15.47 g/t cut) over 2.7 metres. In the West Footwall zone was 47.44 g/t gold (12.02 g/t cut) over 2.4 metres.
The regional drilling program also intersected high-grade gold at two early-stage targets. The Pine zone, 4 km northeast of the Island mine, returned a whopping 3,441.65 g/t gold over 0.7 metre, including 6,222 g/t gold over 0.4 metre and 79.44 g/t gold over 4.1 metres, including 932.00 g/t over 0.3 metre. The 88-60 zone, 7 km from the mine and closer to the historic Cline and Edwards mines, returned a best assay of 14.92 g/t gold over 1.5 metres, including 21.80 g/t gold over 0.9 metre.
“We continue to see excellent results from our exploration program at Island gold across multiple areas of focus. The transition from surface directional drilling to underground drilling this year has been a success … We are extending high-grade mineralization across the lateral extent of the main Island gold deposit while also defining and growing an increasing number of new zones within the hanging wall and footwall,” said John A. McCluskey, Alamos president and CEO.
He added that the newly drilled mineralization will be low-cost to develop, highlighting near-terms opportunities. In fact, some is already being mined.
“We are also very encouraged by the early results out of our regional exploration program with multiple high-grade intersections across the Pine and 88-60 targets. These early-stage targets are a good illustration of the excellent potential for additional high-grade deposits to be defined across our large 55,300-hectare land package, which we more than tripled in size earlier this year,” McCluskey said.
Alamos owns 100% of the Island mine which is on track to deliver between 120,000 to 135,000 oz. of gold this year at an all-in sustaining cost of less than US$1,000 per ounce.
Learn more about exploration at the Island gold mine on www.AlamosGold.com.