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Alamos Gold Reports Mineral Reserves and Resources for the Year-Ended 2021
TORONTO, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today reported its updated Mineral Reserves and Reso
About this update from Alamos Gold Inc.
[{"type":"text","content":" TORONTO, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today reported its updated Mineral Reserves and Resources as of December 31, 2021. For a detailed summary by asset, refer to the tables below. Highlights Global Proven and Probable Mineral Reserves increased 4% to 10.3 million ounces of gold (202 million tonnes (“mt”) grading 1.58 grams per tonne of gold (“g/t Au”)), with grades also increasing 5%, reflecting higher grade additions at Island Gold and Mulatos. Mineral Reserves were more than replaced at all operations and by 166% of depletion Young-Davidson’s Mineral Reserves increased 5% to 3.4 million ounces (43.7 mt grading 2.42 g/t Au), extending its Mineral Reserve life to 15 years Island Gold’s Mineral Reserves increased 2% to 1.3 million ounces (4.1 mt grading 10.12 g/t Au) with grades increasing 4% Mulatos’ Mineral Reserves increased 14% to 1.5 million ounces (29.4 mt grading 1.64 g/t Au) with a 32% increase in grades reflecting the addition of higher-grade underground Mineral Reserves at Puerto Del Aire (“PDA”), which is adjacent to the main Mulatos pit Island Gold continues to grow with Mineral Reserves and Resources increasing 8%, net of depletion, to now total 5.1 million ounces. This represents a 176% increase from the 1.8 million ounces at the time of acquisition in 2017, net of 654,000 ounces of mining depletion Mineral Reserves and Resources increased across all categories, including a 2% increase in Mineral Reserves to 1.3 million ounces and an 8% increase in Inferred Mineral Resources to 3.5 million ounces (7.9 mt grading 13.59 g/t Au) Updated mine plan to be released mid-2022, incorporating the 37%, or 1.4 million ounce, increase in high-grade Mineral Reserves and Resources since the completion of the Phase III Expansion study in July 2020 Global Measured and Indicated Mineral Resources of 4.5 million ounces of gold (128 mt grading 1.10 g/t Au), down from 6.9 million ounces reflecting the conversion to Mineral Reserves at PDA and Young-Davidson, as well as a reduction of non-pit constrained Mineral Resources from the Mulatos Main Pit area Global Inferred Mineral Resources of 7.0 million ounces of gold (125 mt grading 1.74 g/t Au), up slightly from 2020 with grades increasing 6% reflecting high-grade additions at Island Gold Gold price assumptions unchang...