Alamos Gold Extends Gold Mineralization Below Mineral Reserves and Resources at Young-Davidson Including Intersecting Higher Grades in Hanging Wall and Footwall
ALAMOS GOLD INC.
Brookfield Place, 181 Bay Street, Suite 3910, P.O. Box #823
Toronto, Ontario, Canada M5J 2T3
Telephone: (416) 368-9932 or 1 (866) 788-8801
All amounts are in United States dollars, unless otherwise stated.
F O R I M M E D I A T E R E L E A S E
W E B S I T E : w w w . a l a m o s g o l d . c o m T R A D I N G S Y M B O L : T S X : A G I N Y S E : A G I
Alamos Gold Extends Gold Mineralization Below Mineral Reserves and
Resources at Young-Davidson Including Intersecting Higher Grades in
Hanging Wall and Footwall
Toronto, Ontario (July 12, 2021) – Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the
“Company”) today reported results from the ongoing underground exploration drilling program
at Young -Davidson which has been suc cessful at e xtending gold mineralization outside of
Mineral Reserves and Resources.
• Gold mineralization extended 150 m etres (“m”) below existing Inferred Mineral
Resources (YMEX21-8960-021). This follows a 220 m extension of gold mineralization in
2020 which contributed to an increase in Inferred Mineral Resources in the year -end
update. New highlights include:
• 5.32 g/t Au (3.35 g/t cut) over 39.20 m (34.57 m true width) including 21.96 g/t
Au (9.78 g/t cut) over 6.20 m (5.47 m true width) (YMEX20-8960-008)1;
• 5.42 g/t Au over 12.75 m (11.25 m true width) including 32.30 g/t Au over 0.65
m (0.57 m true width) (YMEX21-8960-016); and
• 4.36 g/t Au over 9.00 m (YMEX21-8960-021).
• High-grade mineralization intersected 200 m outside of the syenite in the hanging
wall (YMEX20-8960-014), as well as in the footwall of the deposit (YMEX20-8960-011)
highlighting significant near -mine exploration potential outside of the known ore
body. New highlights include:
• 5.79 g/t Au over 13.70 m including 24.14 g/t Au over 1.85m (YMEX20-8960-014);
and
• 8.32 g/t Au over 6.30 m (3.84 m true width) including 22.50 g/t Au over 1.20 m
(0.73 m true width) (YMEX20-8960-011)1.
Note: Drillhole composite intervals reported as “cut” include higher grade samples that have been cut to 25 g/t Au.
All composite intervals are reported as core length unless true width has been determined.
1 Drillhole completed in 2020 and included in year -end 2020 Mineral Reserves and Mineral Resources for Young-
Davidson.
“With improved access fr om the lower mine, we have begun testing the potential below the
existing deposit which remains open at depth and to the west. The early results are very
promising, extending similar style gold mineralization below Mineral Reserves and Resources
within the syenite that hosts the existing ore body. High-grade mineralization was also
intersected in structures outside of the syenite in both the hanging wall and footwall . Both
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demonstrate the significant potential to add Mineral Reserves and Resources below the existing
deposit, and at potentially higher grades within adjacent structures,” said John A. McCluskey,
President and Chief Executive Officer.
2021 Exploration Drilling Program – Young-Davidson Mine
A total of $7 million is budgeted for exploration at Young-Davidson in 2021. This represents the
first significant exploration program at Young-Davidson since 2011 with the focus over the last
several years having been on completing the lower mine expansion, combined with the fact that
Young-Davidson had a large existing Mineral Reserve base with a Reserve life of approximately
14 years as of the end of 2020 . Additionally, the new lower mine infrastructure provides
improved access to drill from underground at depth.
The 2021 progr am includes 13,000 m of underground exploration drilling and 560 m of
underground exploration development to establish drill platforms on the 9220-level. The focus
of the underground exploration drilling program is to expand Mineral Reserves and Resources
in five target areas that have been identified within proximity to existing underground
infrastructure. In addition, 7,500 m of surface drilling is planned in the second half of 2021 to
test near-surface targets in proximity to Young-Davidson and on several regional targets across
the property.
Underground exploration drilling is being conducted from drill bays established in the lower mine
infrastructure at the 8990 and 8960 levels. A total of nine holes (6,513 m) were completed in
2020 (from the 8990 and 8960 levels). Three (plus one on-going) underground exploration holes
totalling 3,182 m have been completed from the 8960 level in 2021. A second underground
exploration drill is also testing exploration targets in the eastern extent of the mine from the 9470
and 9590 levels, where eleven underground exploration holes totalling 3, 762 m have been
completed as of June 30th.
New highlight intercepts from the 8960 leve l drilling can be found in Table 1 and in Figures 1
and 2 at the end of this news release.
Underground Exploration Drilling
The current program is targeting the down -plunge extension of gold mineralization within the
Young-Davidson syenite which hosts the majority of the Mineral Reserves and Resources, while
also testing the prospective and underexplored footwall Timiskaming sediments and hanging
wall Tisdale mafic-ultramafic assemblages.
Since commencing underground exploration drilling in 2020, the program has been successful
in extending syenite -hosted gold mineralization 220 m below the previous Mineral Resource
(year-end 2019), contributing to an increase in Inferred Mineral Resources to 0.2 million ounces
in the year-end 2020 Mineral Reserve and Resource update. Exploration drilling in 2021 has
further extended syenite -hosted gold mineralization another 150 m below existing Mineral
Resources and Reserves (YMEX21-8960-021).
High-grade gold mineralization was also intersected in structures both within the hanging wall
ultramafic-mafic stratigraphy, and within the footwall sediment s. Further drilling will be
completed to evaluate the geometry and continuity of the mineralized structures. These initial
exploration results outside of the Young -Davidson syenite highlight the significant near -mine
exploration potential at Young-Davidson.
Drillhole YMEX20-8960-008 intersected 5.32 g/t Au (3.35 g/t cut) over 39.20 m (34.57 m true
width) including 21.96 g/t Au (9.78 g/t cut) over 6.20 m (5.47 m true width) within syenite.
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The syenite remains open to the northwest and southeast, as well as down-dip, and within the
90 m gap above this intersection and below the Mineral Reserve and Mineral Resource above.
Drillhole YMEX20-8960-014 intersected a high -grade structure 200 m south of hanging wall
contact of the syenite within ultramafic-mafic lithologies beyond the limits of any previous
drilling. This structure returned 5.79 g/t over 13.70 m including 24.14 g/t Au over 1.85m.
Drillhole YMEX21 -8960-016 intersected 5.42 g/ t Au over 12.75 m (11.25 m true width)
including 32.30 g/t Au over 0.65m (0.57 m true width) within syenite. Mineralization within
the syenite remains open in this area to the southeast and down-dip.
Drillhole YMEX20 -8960-011 intersected 8.32 g/t Au over 6.3 0 m (3.84 m true width) ,
including 22.5 g/t over 1.20 m (0.73 m true width ) in a shear zone developed within the
footwall sediments, 100 m from the contact with the syenite.
Qualified Persons
Scott R.G. Parsons, P.Geo. , FAusIMM, Alamos Gold’s Vice President, Exploration, has
reviewed and approved the scientific and technical information contained in this news release.
Scott R.G. Parsons is a Qualified Person within the meaning of Canadian Securities
Administrator’s National Instrument 43-101 (“NI 43-101”).
Mine Exploration drilling programs at Young-Davidson are directed by Mynyr Hoxha, P.Geo.,
Chief Geologist at the Young-Davidson Mine and a Qualified Person within the meaning of NI
43-101.
Quality Control
Alamos Gold maintains an internal quality assurance and quality control “QA/QC" program at
the Young-Davidson Mine to ensure sampling and analysis of all exploration work is conducted
in accordance with best practices.
Access to the Young-Davidson Mine is controlled by security personnel. Drill core is logged and
sampled at the core logging facility within the mine site under the supervision of a Qualified
Geologist. A geologist marks the individual samples for analysis, and sample intervals, sample
numbers, standards and blanks are entered into the database. The core is cut in half using an
electric core saw equipped with a diamond tipped blade. One half of the core is placed into a
plastic sample bag and sealed with zip ties in preparation for shipment. The other half of the
core is returned to the core box and retained for future reference. The samples are placed in
large heavy-duty nylon reinforced Fabrene bags, which are identified and sealed before being
placed on pallets. The core samples are picke d up at the mine site and delivered to AGAT
Laboratories in Timmins, Ontario.
Gold is analyzed by a fire assay ( 30 grams) with an Atomic Absorption (AA) finish. Samples
greater than 8 g/t are re-analyzed using gravimetric finish methods. AGAT Laboratories has
internal quality control (“QC”) programs that include insertion of reagent blanks, reference
materials, and pulp duplicates.
QC samples (blanks , duplicates and reference materials) are inserted at regular intervals to
monitor laboratory performance. Check assays are completed on a regular basis in a secondary
accredited laboratory.
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About Alamos
Alamos is a Canadian -based intermediate gold producer with diversified production from three
operating mines in North America. This includes the Young -Davidson and Island Gold mines in
northern Ontario, Canada and the Mulatos mine in Sonora State, Mexico. Additionally, the
Company has a significant portfolio of development stage projects in Canada, Mexico, Turkey,
and the United States. Alamos employs more than 1,700 people and is committed to the highest
standards of sustainable development. The Company’s shares are traded on the TSX and NYSE
under the symbol “AGI”.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Scott K. Parsons
Vice President, Investor Relations
(416) 368-9932 x 5439
The TSX and NYSE have not reviewed and do not accept responsibility for the adequacy or accuracy of this
release.
Cautionary Note
This news release includes certain statements that constitute forward -looking information within the meaning of
applicable Canadian and U.S. securities laws ("forward -looking statements"). All statements in this news release,
other than statements of historical fact, which address events, results, outcomes or developments that Alamos
expects to occur are forward-looking statements. Forward-looking statements are generally, but not always, identified
by the use of forward-looking terminology such as “continue”, “focus”, "estimate", or “potential” or variations of such
words and phrases and similar expressions or statements that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved or the negative connotation of such terms. In particular, this
news release contains forward-looking statements including, without limitation, with respect to the 2021 exploration
drilling program at th e Young-Davidson mine, the estimation of Mineral Resources, exploration results, potential
mineralization, changes in Mineral Resources and Mineral Reserves and other information that is based on forecasts
and projections of future operational, geological or financial results, estimates of amounts not yet determinable and
assumptions of management.
Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the
occurrence of a mineral deposit. Such resu lts do not provide assurance that further work will establish sufficient
grade, continuity, metallurgical characteristics and economic potential to be classed as a category of Mineral
Resource. A Mineral Resource that is classified as "Inferred" or "Indica ted" has a great amount of uncertainty as to
its existence and economic and legal feasibility. It cannot be assumed that any or part of an "Indicated Mineral
Resource" or "Inferred Mineral Resource" will ever be upgraded to a higher category of Mineral Resource. Investors
are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into
Proven and Probable Mineral Reserves.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered
reasonable by management at the time of making such statements, are inherently subject to significant business,
economic, technical, legal, political and competitive uncertainties and contingencies. Known and unknown factors
could cause actual results to differ materially from those projected in the forward -looking statements, and undue
reliance should not be placed on such statements and information.
Such factors and assumptions underlying the forward -looking statements in this news release include: the actual
results of current exploration activities, conclusions of economic and geological evaluations, changes in project
parameters as plans continue to be refined, operations may be exposed to widespread pandemic; the impact of the
COVID-19 pandemic on the broader market; provincial and federal orders or mandates (including with respect to
mining operations generally or auxiliary businesses or services required for o ur operations) in Canada, Mexico, the
United States and Turkey; the duration of regulatory responses to the COVID-19 pandemic; changes in national and
local government legislation, controls or regulations, failure to comply with environmental and health and safety laws
and regulations; labour and contractor availability (and being able to secure the same on favourable terms);
disruptions in the maintenance or provision of required infrastructure and information technology systems;
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fluctuations in the price of gold or certain other commodities such as, diesel fuel, natural gas, and electricity; operating
or technical difficulties in connection with mining or development activities, including geotechnical challenges and
changes to production estimates (which assume accuracy of projected ore grade, mining rates, recovery timing and
recovery rate estimates and may be impacted by unscheduled maintenance; changes in foreign exchange rates
(particularly the Canadian dollar, U.S. dollar, Mexican peso and Turkish Lir a); the impact of inflation; employee and
community relations; litigation and administrative proceedings; disruptions affecting operations; availability of and
increased costs associated with mining inputs and labour; inherent risks and hazards associated with mining and
mineral processing including environmental hazards, industrial accidents, unusual or unexpected formations,
pressures and cave -ins; the risk that the Company’s mines may not perform as planned; uncertainty with the
Company's ability to secu re additional capital to execute its business plans; the speculative nature of mineral
exploration and development, risks in obtaining and maintaining necessary licenses, permits and authorizations,
contests over title to properties; expropriation or nati onalization of property; political or economic developments in
Canada, Mexico, the United States, Turkey and other jurisdictions in which the Company may carry on business in
the future; increased costs and risks related to the potential impact of climate change; the costs and timing of
construction and development of new deposits; risk of loss due to sabotage, protests and other civil disturbances;
the impact of global liquidity and credit availability and the values of assets and liabilities based on proj ected future
cash flows; and business opportunities that may be pursued by the Company.
For a more detailed discussion of such risks and other factors that may affect the Company's ability to achieve the
expectations set forth in the forward -looking statements contained in this news release, see the Company’s latest
40-F/Annual Information Form and Management’s Discussion and Analysis, each under the heading “Risk Factors”
available on the SEDAR website at www.sedar.com or on EDGAR at www.sec.gov. The foreg oing should be
reviewed in conjunction with the information found in this news release.
The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether written
or oral, or whether as a result of new information, future events or otherwise, except as required by applicable law.
Cautionary Note to U.S. Investors – Mineral Reserve and Resource Estimates
All resource and reserve estimates included in this news release have been prepared in accordance with Canadia n
National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43 -101”) and the Canadian Institute
of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards on Mineral Resources and Mineral
Reserves, adopted by the CIM Co uncil, as amended (the “CIM Standards”). NI 43 -101 is a rule developed by the
Canadian Securities Administrators, which established standards for all public disclosure an issuer makes of scientific
and technical information concerning mineral projects. The terms “Mineral Reserve”, “Proven Mineral Reserve” and
“Probable Mineral Reserve” are Canadian mining terms as defined in accordance with NI 43 -101 and the CIM
Standards. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever
be converted into reserves. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence,
and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred
Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral
Resources may not form the basis of feasibility or pre -feasibility studies, except in very limited circumstances.
Investors are cautioned not to assume that all or any part of an Inferred Mineral Resource exists or is economically
or legally mineable. Disclosure of “contained ounces” in a Mineral Resource is permitted disclosure under Canadian
regulations.
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Table 1: Young-Davidson – Previously Unreleased Select Composite Intervals from 8960 level
Underground Exploration Drilling
Composite intervals greater than 3 g/t Au weighted average, capping values:
Within ”MAIN” @ 25 g/t Au.
Target: “MAIN” – Syenite, “FW” – Footwall, “HW” – Hanging wall
Hole ID
Target
(FW/
MAIN/
HW)
From
(m) To (m)
Core
Length
(m)
True
Width
(m)
Au Uncut
(g/t)
Au Cut
(g/t)
Vertical
Depth (m)
YMEX20-8960-008 FW 57.70 58.00 0.30 5.16 1209
YMEX20-8960-008 FW 190.90 191.25 0.35 6.98 1258
YMEX20-8960-0081 MAIN 501.00 540.20 39.20 34.57 5.32 3.35 1373
including 534.00 540.20 6.20 5.47 21.96 9.78
YMEX20-8960-011 FW 63.50 65.00 1.50 5.13 1233
YMEX20-8960-011 FW 215.00 216.00 1.00 3.86 1339
YMEX20-8960-011 FW 250.85 252.00 1.15 6.81 1339
YMEX20-8960-0111 FW 364.90 371.20 6.30 3.84 8.32 1449
including 366.30 367.50 1.20 0.73 22.50
YMEX20-8960-012 FW 409.52 410.17 0.65 9.47 1272
YMEX20-8960-012 MAIN 476.10 476.90 0.80 3.22 1286
YMEX20-8960-012 MAIN 481.10 481.60 0.50 9.51 1287
YMEX20-8960-012 MAIN 488.45 491.85 3.40 3.64 1289
YMEX20-8960-012 HW 634.40 635.80 1.40 3.18 1328
YMEX20-8960-013 FW 119.71 121.35 1.64 5.85 1242
YMEX20-8960-013 FW 156.55 158.30 1.75 5.67 1259
YMEX20-8960-013 FW 430.25 431.20 0.95 5.99 1387
YMEX20-8960-013 MAIN 510.80 511.40 0.60 3.03 1425
YMEX20-8960-013 MAIN 619.20 620.20 1.00 12.10 1475
YMEX20-8960-014 FW 198.80 201.30 2.50 5.95 1274
YMEX20-8960-014 FW 203.55 204.91 1.36 6.42 1276
YMEX20-8960-014 MAIN 368.40 370.40 2.00 6.20 1344
YMEX20-8960-014 MAIN 373.25 376.86 3.61 4.94 1346
YMEX20-8960-014 MAIN 497.11 498.10 0.99 3.19 1397
YMEX20-8960-014 HW 778.50 792.20 13.70 5.79 1523
including 789.25 791.10 1.85 24.14
YMEX20-8960-015 FW 121.80 122.25 0.45 4.08 1228
YMEX20-8960-015 FW 402.20 404.55 2.35 3.25 1320
YMEX20-8960-015 FW 434.00 434.70 0.70 3.31 1331
YMEX20-8960-015 HW 776.15 777.15 1.00 5.77 1442
YMEX21-8960-016 FW 460.00 461.00 1.00 3.27 1373
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Hole ID
Target
(FW/
MAIN/
HW)
From
(m) To (m)
Core
Length
(m)
True
Width
(m)
Au Uncut
(g/t)
Au Cut
(g/t)
Vertical
Depth (m)
YMEX21-8960-016 FW 470.70 471.40 0.70 3.06 1377
YMEX21-8960-016 MAIN 494.65 507.40 12.75 11.25 5.42 1390
including 501.10 501.75 0.65 0.57 32.30
YMEX21-8960-016 HW 830.62 832.15 1.53 3.08 1526
YMEX21-8960-021 FW 44.00 45.00 1.00 3.32 1211
YMEX21-8960-021 FW 325.95 327.00 1.05 9.23 1363
YMEX21-8960-021 FW 351.20 354.30 3.10 6.56 1378
YMEX21-8960-021 HW 701.00 710.00 9.00 4.36 1575
1 Drillhole composite interval included in YE2020 Mineral Reserves and Mineral Resou rces
Table 2: UG Exploration drill holes; azimuth, dip, drilled length, and underground collar location
(UTM NAD83).
Hole ID Azimuth
(°)
Dip
(°)
Drilled
Length
(m)
UTM Easting (m) UTM Northing
(m)
Elevation
(mASL)
YMEX19-8990-005A 153 -27 651 523134 5310458 -1008
YMEX20-8990-001 218 -34 654 523134 5310458 -1008
YMEX20-8990-006 162.5 -42 607 523134 5310458 -1008
YMEX20-8990-007 133 -31.5 687 523134 5310458 -1008
YMEX20-8960-008 257 -22.5 811 523068 5310477 -1037
YMEX20-8960-011 238 -45.5 811 523068 5310477 -1037
YMEX20-8960-012 257 -13 666 523068 5310477 -1037
YMEX20-8960-013 257 -28 813 523068 5310477 -1037
YMEX20-8960-014 249.5 -26.5 813 523068 5310477 -1037
YMEX20-8960-015 265 -21 821 523068 5310477 -1037
YMEX21-8960-016 252.5 -24 963 523068 5310477 -1037
YMEX21-8960-021 238 -32 789 523068 5310477 -1037
Note: Mine surface elevation is 350 metres above sea level (mASL)
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Figure 1: Young-Davidson Mine longitudinal, and detailed longitudinal of
8960 level drilling
Note: easting and northing in local Young-Davidson mine grid, vertical depth is shown from
surface.