Business
Minera Alamos Advances La Fortuna with the Acquisition of Mineral Processing Plant
TORONTO, ONTARIO--(Marketwired - June 21, 2016) - Minera Alamos Inc. (TSX VENTURE:MAI) (the "Company" or "Minera Alamos") is pleased to announce it has acquired
About this update from Minera Alamos Inc.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - June 21, 2016) - Minera Alamos Inc. (TSX VENTURE:MAI) (the \"Company\" or \"Minera Alamos\") is pleased to announce it has acquired the assets of a previously operational grinding/flotation facility to be utilized in the construction of its La Fortuna gold project in Durango, Mexico. \"The opportunity to acquire and fully pay for this facility, at a significant discount, marks substantial progress in the development of the La Fortuna project,\" said Darren Koningen, President of Minera Alamos. \"The Company continues to evaluate metallurgical alternatives that would allow us to increase gold production from the project resource by up to 50% based on what would be expected under the heap leaching models considered by previous owners. We continue to aggressively take advantage of the rare opportunities current markets are providing\". The Company is finalizing the optimal configuration of the components for inclusion in the La Fortuna Pre-Feasibility Report due later this year. A construction decision is pending the completion of a formal economic assessment by management. Highlights: Acquisition of core plant assets significantly reduces the capital requirements for the construction of a high gold-recovery processing alternative at the La Fortuna project -- Under the new approach being considered, the Company anticipates an approximate 50% increase in production rates at the same mining rate (see Press Release June 14, 2016); Provides the opportunity to reduce the project construction schedule and significantly enhance overall project economics to be detailed in the Company's Pre-Feasibility Report due later this year; New mill equipment is extremely well suited for the flowsheets being considered and provides sufficient capacity for future production expansion at the site as other historic areas of known mineralization are also developed into resources; and Surplus equipment assets not under consideration for La Fortuna may be appropriate for use at the Company's Los Verdes copper project in Sonora, Mexico. The acquired assets include three grinding mills and motors, floatation and thickener mechanisms, a filter press and a significant inventory of pumps and motors. Also included is a complete package of electrical starters as well as spares, maintenance equipment and other related items. The mil...