Business
Minera Alamos Receives Additional Gold Sale Proceeds and Prepares for Phase 2 Drilling at the Santana Gold Project, Sonora, Mexico
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - February 19, 2019) - Mine...
About this update from Minera Alamos Inc.
[{"type":"text","content":"Minera Alamos Receives Additional Gold Sale Proceeds and Prepares for Phase 2 Drilling at the Santana Gold Project, Sonora, MexicoToronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - February 19, 2019) - Minera Alamos Inc. (TSXV: MAI) (\"Minera Alamos\" or the \"Company\")  is pleased to report a further gold sale from residual leaching of its 50,000 t bulk leach test at the Santana gold project in Sonora, Mexico. A gold/silver sale for the 162 oz of contained gold and 54 oz of contained silver was made resulting in net proceeds of US$213,000 received by the Company.Although the majority of the recoverable gold has now been extracted from the bulk test material, limited residual leaching continues. The cumulative gold recovered from the bulk test activities to date is as follows:Total Gold Recovered - 1,060 oz AuCalculated Recovered Gold - 0.66 g/t Au (based on total mineralized material loaded to the heap leach test area)As previously stated by the Company (see news release July 26th, 2018) the results achieved from the bulk sample leaching testwork met or exceeded expectations across the range of crush sizes that were tested. The positive results led to the filing in 2018 of permit amendments to allow for the development of a commercial scale operation at the Santana project site. The Company awaits notice of final approval for these permits.Phase 2 Exploration Planning CompleteFollowing the successful Phase 1 results achieved in late 2018, the Company has also completed its exploration plans for a Phase 2 exploration and development drilling program at the Santana project. The program is currently planned to total in excess of 10,000 m and is expected to run throughout the year. Phase 2 work will include expansion drilling at the Nicho and Nicho Norte deposits and exploration drilling at a number of high priority targets:Nicho/Nicho Norte - 20-30 infill and step out holes (~4,000m) - Drilling will seek to further expand on the step-out drill holes from Phase 1 drilling that included: 127m grading 0.81 g/t Au and 80m grading 1.05 g/t Au (see news releases dated October 11th, 2018, October 17th, 2018 and November 1st, 2018)Divisadero - 20 holes (3,000m) to follow up on a Phase 1 discovery hole containing 95.7m at 0.85 g/t Au and 0.33% Cu (see news release dated October 25th, 2018) and the subsequent mapping ...