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Minera Alamos Completes Final Tailings Containment Plans and Confirms Permitting for La Fortuna Gold Project on Target for Early Q2 – 2018
TORONTO, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Minera Alamos Inc. (TSX VENTURE:MAI) (OTCQB:VGMTF) (the "Company" or "Minera Alamos") is pleased to announce the comp
About this update from Minera Alamos Inc.
[{"type":"text","content":"TORONTO, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Minera Alamos Inc. (TSX VENTURE:MAI) (OTCQB:VGMTF) (the \"Company\" or \"Minera Alamos\") is pleased to announce the completion of the geotechnical studies required for the approval of its mine development permits for the La Fortuna Gold Project (“La Fortuna”) in Durango, Mexico. The study results which include the design of the tailings containment facilities comprise the final data package to be submitted by the Company’s environmental consultant (Consultoria Ambiental Vugalit, S.C.) to the Mexican Federal Environmental Agency (Secretaria de Medio Ambiente y Recursos Naturales or “SEMARNAT”) as part of the mine permitting approval process. Based on the feedback received to date, the target for approval of these permits remains early second quarter in 2018. “The completion of this milestone is the direct result of the excellent work done by our technical team in Mexico as we continue to advance the La Fortuna gold project towards construction. The receipt of environmental permits is the last hurdle prior to our construction decision,” said Darren Koningen, President and CEO of Minera Alamos. “The end of 2017 marked the conclusion of a transformative year for the Company. In addition to the milestones achieved at La Fortuna, the Company signed a strategic partnership with Osisko Gold Royalties mid-year which was then followed by the acquisition of the late stage Guadalupe de Los Reyes gold project. Preparations are now complete for the first new significant exploration program at the La Fortuna gold in more than two decades. The program is intended to target new areas of mineralization that were the subject of historical mining activity but unexplored with modern exploration techniques. For 2018, the Company’s remains focused on advancing both the La Fortuna and Guadalupe de los Reyes projects towards construction decisions while continuing to expand the Company’s development and production profile through additional acquisitions and exploration activities.” The completion and submission of the tailings study was a critical milestone on the development schedule for the La Fortuna project. This recent geotechnical work was performed by Especialistas en Ciencias de la Tierra (“ECT” – Earth Sciences Specialists) which was engaged by the Compa...