Business
Gammon 2010 Exploration Adds Proven and Probable Reserves and Measured and Indicated Resources
Feb. 28, 2011 (Canada NewsWire Group) -- TORONTO, Feb. 28 /CNW/ - Gammon Gold Inc. ("Gamm...
About this update from Alamos Gold Inc.
[{"type":"text","content":"\n\n\n Feb. 28, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nTORONTO, Feb. 28 /CNW/ - Gammon Gold Inc. ("Gammon") (TSX: GAM) and (NYSE: GRS) today reported its updated Reserves and Resources, as at December 31st, 2010 which include the addition of 0.5 million gold equivalent ounces(1) to Proven and Probable Reserves and an increase of 0.2 million gold equivalent ounces(2) to Measured and Indicated Resources.\n\nAll figures reported are in U.S. dollars unless otherwise indicated.\n\nHighlights:\n\n\n >\n\n\nRene Marion, President and CEO, commented: "In this, the first year in which meaningful exploration has been conducted on Gammon's properties, we have been able to significantly extend the life of the underground and open pit ore bodies at Ocampo and add ounces at El Cubo, despite the limited exploration work conducted there in 2010. Our reserve ounces were added at a favourable finding cost of only $49 per gold equivalent ounce(1) and represent highly profitable ounces given their immediate proximity to existing mine development and infrastructure." Rene Marion continued, "We are also very pleased that measured and indicated resources have increased to 741 thousand gold equivalent ounces(2) and it's worth noting that at today's metal prices, many of these ounces could be classified as reserves. The 2010 exploration program has not only extended the North East underground operation by two kilometers to the south, connecting to the Picacho open pit, b...