Looking To Fast-Track Mexican Project
Minera Alamos Inc. (TSXV: MAI) has announced positive results from an independent estimate of the Mineral Resources at the Cerro de Oro Project in Zacatecas, Mexico.
New studies have revealed an Inferred Mineral Resource estimate containing 630,000 ounces of oxide gold mineralisation (48 million tonnes @ 0.41 g/t gold).
CEO, Darren Koningen, said the company has identified a number of high priority target areas for future drill programs aimed at expanding the known mineralised areas.
He said a limited number of diamond drill holes have demonstrated the potential for sulphide mineralisation to extend to depth below the current estimate area.
“This Mineral Resource estimate is an excellent start for the Cerro de Oro gold project. With this in hand we are confident about rapidly advancing the work required to put us on a path toward a production decision at Cerro de Oro following the initial start-up of operations at Santana,” Mr Koningen said,
“Our fast-track development plans for the project will include the submission of permit applications early in the new year for the construction of a new gold heap leach operation. All indications are that this inaugural resource can be expanded significantly through additional drilling planned for 2021.
“We are particularly excited about the deeper sulphide potential which appears to be extensive but was largely ignored by historical drilling programs. Metallurgical studies are already underway to examine the potential for this material to be incorporated into future development plans.”
The inaugural resource estimate incorporates a total of 84 reverse circulation (RC) drill holes (7,112 metres) and 12 diamond drill holes (3,786m) including 50 RC holes (4,272m) drilled by Minera Mexico Pacific S.A. de C.V in 2017 and 2018 and 34 RC holes (2,840m) drilled by Noranda.
All of the diamond drill holes were completed by Noranda from 1996 through 1998. Drilling to date has focused on the oxide zone with the majority of oxide holes drilled to depths of 60 to 160 metres. The diamond drill holes were drilled to depths of 80m to 645m to identify mineralisation at depth.
With the completion of this inaugural resource estimate, the company will continue to advance engineering studies that are already underway and which will serve as the basis for permit application submittals in the coming months. Additional activities are to include:
- The preparation of a detailed geological model covering the entire land package controlled by the company and incorporating all currently available data combined with additional surface mapping, and ground mag studies; Initiation of a new drill program aimed at expanding the known zones of mineralisation both laterally and at depth;
- Further metallurgical testing to optimize size/recovery relationships for the oxide mineralisation as well as to determine the amenability of the sulphide zone for heap leach gold recovery;
- Completion of surface rights agreements to allow for permitting and development of a gold heap leach production operation;
- A hydrogeological study for the property to locate high priority targets for water sources suitable for a heap leach gold operation.
