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Minera Alamos Completes Six-Fold Increase in Concession Area Surrounding the La Fortuna Gold Project
TORONTO, ONTARIO--(Marketwired - Aug. 18, 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 - Aug. 18, 2016) - Minera Alamos Inc. (TSX VENTURE:MAI) (the \"Company\" or \"Minera Alamos\") is pleased to announce it has acquired more than 5200 hectares in additional mineral concessions surrounding the La Fortuna gold project in Durango Mexico. The new claims were acquired directly from the federal mining authorities in Mexico (Dirección General de Minas) with no payments to any other third parties. The Company's total land package now sits at over 6200 hectares. \"The fault structures and tourmaline breccias throughout the La Fortuna Project area have been the source of significant historical mining activity. To date only a limited portion of the La Fortuna Main Zone has been drilled to produce the current NI 43-101 compliant resource,\" said Miguel Cardona, Vice President, Exploration at Minera Alamos. \"This opportunity to increase our land holdings so substantially provides considerable upside for resource growth as the project continues to advance. We are now reworking our planning to include the newly acquired property in our upcoming exploration program\". The mineralization at the La Fortuna project is associated with a series of parallel fault structures (approximately 1.5 - 2 km apart) and related tourmaline breccias which can be traced at surface for many kilometers. Three of these mineralized zones were already identified within the Company's previous concession area. These include the La Fortuna Main Zone, Ramada Zone and PN Prospects. The newly acquired concession area significantly expands the Company's holdings in all directions around these zones while securing at least two new structures (Los Cajones and El Toro) to the south that exhibit similar characteristics. Highlights: A limited strike length (350-400m) of the La Fortuna Main Zone structure was drilled to produce the current NI 43-101 compliant resource estimate --- Measured and Indicated Mineral Resources of 4,824,000 tonnes at 1.99 g/t gold containing 308,100 gold ounces (as previously disclosed in the Company's press release dated January 18, 2016). Mineralization remains open both at depth and along strike. Fortuna Main Zone style mineralization is evident at surface approximately 400-500m south of the current resource and can be traced along strike for at least another 200m. The Los Cajones zone located to the sou...