New highlights embrace:
Island West (C-zone)
- 36.54 g/t gold (15.16 g/t minimize) over 7.20 metres;
- 56.13 g/t gold (15.35 g/t minimize) over 2.13 metres;
- 42.25 g/t gold (36.15 g/t minimize) over 2.82 metres;
- 23.88 g/t gold (14.46 g/t minimize) over 3.82 metres;
- 25.88 g/t gold (25.88 g/t minimize) over 2.26 metres;
Island East (E1E-zone)
- 17.24 g/t gold (17.24 g/t minimize) over 9.97 metres;
- 28.66 g/t gold (28.66 g/t minimize) over 2.22 metres;
- 11.75 g/t gold (11.75 g/t minimize) over 3.91 metres.
Excessive grade mineralization was additionally discovered within the North Shear and Webb Lake inventory areas, providing potential further mill feed for the expanded Magino milling advanced.
“That is anticipated to contribute to a different yr of development in high-grade mineral reserves and sources, as Island Gold continues to determine itself as one of many highest-grade and quickest rising deposits on this planet,” mentioned CEO John McCluskey.
“This development is supporting an extended mine life at Island Gold, which already exceeds 20 years, and extra synergies to be realized by processing Island Gold ore by means of the bigger Magino mill,” he added.
The corporate mentioned it’s exploring longer-term alternatives resembling increasing the Magino pit onto the bigger land bundle throughout the Island Gold district and figuring out near-mine, higher-grade targets just like the North Shear.
Alamos has budgeted $19 million for exploration at Island Gold in 2024, up from $14 million in 2023.
The plan consists of 41,000 metres of exploration drilling centered on defining new sources close to current manufacturing areas. A further 32,000 metres of underground drilling, included in sustaining capital, will deal with changing the present useful resource base to reserves.
Thus far, about 28,000 metres of underground exploration drilling and 5,900 metres of floor drilling have been accomplished.