Business
Minera Alamos Inc. Discusses Expansion Potential at La Fortuna Gold Project
TORONTO, ONTARIO--(Marketwired - July 15, 2016) - Minera Alamos Inc. (TSX VENTURE:MAI) (the "Company" or "Minera Alamos") today announced the completion of its
About this update from Minera Alamos Inc.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - July 15, 2016) - Minera Alamos Inc. (TSX VENTURE:MAI) (the \"Company\" or \"Minera Alamos\") today announced the completion of its review of the most recent exploration data from the La Fortuna gold project in Durango, Mexico which confirms significant potential for growth beyond the project's current Measured and Indicated Mineral Resources of 4,824,000 tonnes at 1.99 g/t gold containing 308,100 gold ounces (see Company's press release dated January 18, 2016). \"A very thorough reconnaissance program of surface mapping and sampling was performed over the La Fortuna concession area by the previous owners,\" said Miguel Cardona, Vice President, Exploration at Minera Alamos. \"The compilation of this data and available historical information has allowed us to define geological models for potential ore deposits across the entire project. Recommendations are now being developed for further exploration work.\" Three distinct zones of mineralization have already been identified along parallel structures that correspond to the primary regional faulting in this region of Mexico (NW-SE). In addition to the Fortuna Main Zone (and extensions) where Company's current resource is located, these also include the Ramada Zone and the PN Zone. All three areas contain numerous historical mine workings and have been sampled and mapped at surface. These expansions span an area many times larger than that of the current resource. Defining the continuity of the mineralization throughout these extended zones will be the focus of the Company's upcoming exploration activities. Highlights: In the late 1990's only the first phase of drilling at the La Fortuna Main Zone was completed prior to a dramatic decline in gold prices. This drilling focused on an area approximately 350-400m in length which was centered around the largest of the old mine workings. The resource confirmed by Castle Gold Corporation (now Argonaut gold Inc.) in 2008 was limited to the area originally drilled off under that first phase of work and remained open at depth and to the south; La Fortuna Main Zone style mineralization is evident at surface along strike and approximately 400-500m south of the current resource and can be traced for over 200m. Phase 2 of the 1990's drill program which was ultimately cancelled was intended to focus on evaluating th...