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Minera Alamos Completes Definitive Agreements to Acquire the Cerro De Oro Gold Project, Zacatecas, Mexico
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - August 4, 2020) - Minera ...
About this update from Minera Alamos Inc.
[{"type":"text","content":"Minera Alamos Completes Definitive Agreements to Acquire the Cerro De Oro Gold Project, Zacatecas, MexicoToronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - August 4, 2020) - Minera Alamos Inc. (TSXV: MAI) (the \"Company\" or \"Minera Alamos\") is pleased to announce it has finalized Definitive Agreements with arms length parties (collectively the \"Vendor\") to acquire 100% of the Cerro de Oro gold project comprising the Zacatecas I and Zacatecas II concessions near Concepcion del Oro, Zacatecas, Mexico (see figure 1), subject to approval of the TSX Venture Exchange. The acquisition of the two core claims in the district that contain a significant gold project with 76 holes and 8200 m of historic drilling bolsters the Company's total claim holdings in the Concepcion del Oro district to approximately 6,500 ha in size. The two concessions are bounded by existing Minera Alamos concessions and the overall package is surrounded by a larger claim owned by the Company providing all the necessary land that would be required to facilitate the development of the deposit (see figure 2).\"The Cerro de Oro gold project has many characteristics that mimic the El Castillo gold mine our team developed under the Castle Gold Corporation banner from 2007 until its eventual sale in 2010,\" stated Darren Koningen, CEO of Minera Alamos. \"Cerro de Oro contains a large disseminated gold system with a significant oxidation profile and a low implied strip ratio with the majority of mineralized areas outcropping at surface. Northern Zacatecas has a rich mining history and hosts some of the largest gold deposits in north-central Mexico. We look forward to working with the local community and Mexican mining authorities to rapidly advance permitting and establish a new mine in the district.\"Highlights of the AcquisitionHistorical exploration data consisting of 8200m of drilling and 6000m of trench sampling.Gold mineralization delineated over an area of approximately 500m x 1000m (to oxidized depths in excess of 70-80m) which appears to remain open in multiple directions.Majority of the mineralization is exposed at surface and readily accessible for potential open pit mining operations.Location/infrastructure - excellent established mining region - good road access and accessible grid power.Augments the Company's local existi...