Alamos Gold Extends High-Grade Gold Mineralization within Multiple Zones Across the Island Gold Deposit and Two Regional Exploration Targets
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 High-Grade Gold Mineralization within Multiple Zones
Across the Island Gold Deposit and Two Regional Exploration Targets
Toronto, Ontario (November 9, 2023) – Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or
the “Company”) today reported new results from its near mine and regional exploration drilling
program at Island Gold. Un derground exploration drilling continues to extend high-grade gold
mineralization across the Island Gold Deposit within the main E1E and C -Zones, as well as
several hanging wall and footwall structures in proximity to existing underground infrastructure.
Additionally, the regional exploration program has been successful in intersecting high-grade gold
mineralization at two early-stage targets.
Island Gold Mine – main zone exploration highlights: high-grade mineralization extended
outside of Mineral Reserves and Resources in the E1E and C-Zones. These zones are the
main structures which host the majority of currently defined Mineral Reserves and
Resources at Island Gold. New highlights include1:
• Island East (E1E-Zone)
• 95.41 g/t Au (30.42 g/t cut) over 3.02 m (840-578-26);
• 118.59 g/t Au (61.74 g/t cut) over 2.31 m (1015-640-12);
• 62.09 g/t Au (61.83 g/t cut) over 2.19 m (840-632-24); and
• 37.33 g/t Au (33.16 g/t cut) over 2.56 m (840-608-52).
• Island West (C-Zone)
• 40.12 g/t Au (40.12 g/t cut) over 2.02 m (790-479-29);
• 17.23 g/t Au (17.23 g/t cut) over 3.02 m (790-479-22); and
• 23.79 g/t Au (23.79 g/t cut) over 2.05 m (790-479-20).
Island Gold Mine – hanging wall and footwall zone exploration highlights: high-grade gold
mineralization continues to be intersected within a number of new and recently defined
hanging wall and footwall zones across the main Island Gold Deposit. These zones
represent a significant opportunity to add near mine Mineral Reserves and Resources which
would be low cost to develop and produce given their proximity to existing infrastructure. New
highlights include1:
• Island East Footwall Zones
NTH4 Zone
• 168.03 g/t Au (27.88 g/t cut) over 3.14 m (840-632-21);
• 43.33 g/t Au (24.58 g/t cut) over 2.00 m (840-632-43);
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• 25.94 g/t Au (13.92 g/t cut) over 3.14 m (840-632-32); and
• 19.55 g/t Au (11.36 g/t cut) over 2.03 m (840-632-25).
E1D1 Zone
• 47.62 g/t Au (20.19 g/t cut) over 2.78 m (945-624-15);
• 41.40 g/t Au (12.13 g/t cut) over 2.16 m (945-624-16);
• 22.12 g/t Au (6.17 g/t cut) over 3.77 m (945-624-28); and
• 17.32 g/t Au (11.84 g/t cut) over 3.81 m (945-624-19A).
E1D Zone
• 17.84 g/t Au (10.07 g/t cut) over 3.57 m (945-624-28); and
• 22.71 g/t Au (22.71 g/t cut) over 2.53 m (945-624-29).
• Island West Hanging Wall Zones: the NS1 zone has now been interpreted to have an
average North-South strike of approximately 70 m, with vertical continuity of over 400
m and remains open up and down dip. This zone was not factored into the 2023 mine plan
but is currently being developed and mined after being defined earlier this year. New
highlights include1:
• 121.37 g/t Au (15.47 g/t cut) over 2.65 m (770-475-01);
• 34.08 g/t Au (16.28 g/t cut) over 5.40 m (770-475-12);
• 23.46 g/t Au (10.16 g/t cut) over 2.14 m (770-475-14); and
• 21.89 g/t Au (8.45 g/t cut) over 2.20 m (770-475-13).
• Island West Footwall Zones (DN zone sub-parallel structure). New highlights include1:
• 47.44 g/t Au (12.02 g/t cut) over 2.43 m (790-479-35);
• 13.97 g/t Au (13.78 g/t cut) over 2.59 m (790-479-33); and
• 13.78 g/t Au (13.78 g/t cut) over 2.48 m (790-479-36).
1 All reported drill widths are true width of the mineralized zones, unless otherwise stated. Drillhole composite
intervals reported as “cut” may include higher grade samples which have been cut to: C-zone @ 225 g/t Au; E1E
Zone @ 185 g/t Au. B Zone @ 90 g/t Au; NS1 Zone @ 60 g/t Au; D1 and G1 Zones @ 45 g/t Au; G Zone @ 70 g/t
Au; E1D @ 80g/t Au; DN, E1D1, NTH1, NTH2, NTH3, NTH4 @ 35 g/t Au.
Regional exploration highlights: high-grade mineralization inte rsected at two regional
targets in proximity to the Island Gold operation. New highlights include2:
• Pine Zone: 4 kilometres (“km”) northeast of the Island Gold Mine
• 29.77 g/t Au over 9.31 m (23IGX057), including:
o 59.15 g/t Au over 4.39 m, including:
o 378.00 g/t Au over 0.37 m
• 3441.64 g/t Au over 0.67 m (23IGX043), including:
o 6220.00 g/t Au over 0.37 m
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• 79.44 g/t Au over 4.06 m (23IGX053), including:
o 932.00 g/t Au over 0.33 m
• 7.22 g/t Au over 7.45 m (23IGX055), including:
o 11.87 g/t Au over 3.43 m
• 3.12 g/t Au over 9.64 m (23IGX059), including:
o 20.10 g/t Au over 0.36 m
Adjacent Vein Arrays
• 6.44 g/t Au over 7.26 m (23IGX050), including:
o 63.1 g/t Au over 0.52 m
• 17.67 g/t Au over 1.44 m (23IGX053), including:
o 23.60 g/t Au over 1.05 m
• 88-60 Zone: 7 km from the Island Gold Mine, in proximity to the historic Cline and
Edwards mines:
• 6.00 g/t Au over 11.18 m (23IGX066), including:
o 19.79 g/t Au over 1.12 m
o 20.90 g/t Au over 0.78 m
o 24.60 g/t Au over 0.58 m
• 14.62 g/t Au over 1.5 m (23IGX066), including:
o 21.80 g/t over 0.94 m;
• 6.19 g/t Au over 3.31 m (23IGX065), including:
o 55.50 g/t over 0.34 m.
2 Regional exploration drillhole composite intervals reported as uncut, composites lengths are reported as core length,
true widths are estimated at 40 to 85% of core length. Composites are calculated with a 0.5 g/t cut-off, maximum internal
waste of 4 m, and no minimum thickness. Higher-grade intervals within the primary drillhole composite are reported as
“Including” for any individual or consecutive samples with assay grades greater than 10 g/t Au.
“We continue to see excellent results from our exploration program at Island Gold across multiple
areas of focus. The transition from surface directional drilling to underground drilling this year has
been a success as we leverage our existing underground infrastructure. We are extending high-
grade mineralization across the lateral extent of the main Island Gold deposit while also defining
and growing an increasing number of new zones within the hanging wall and footwall. Our success
on both fronts demonstr ates the significant potential for the addition of high -grade Mineral
Reserves and Resources near our existing underground development. This is providing
increasing operational flexibility and additional ounces that will be low -cost to develop, some of
which are already being mined, highlighting the near-term opportunities,” said John A. McCluskey,
President and Chief Executive Officer.
“We are also very encouraged by the early results out of our regional exploration program with
multiple high-grade intersections across the Pine and 88 -60 targets. These early-stage targets
are a good illustration of the excellent potential for additional high -grade deposits to be defined
across our large 55,300 hectare land package, which we more than tripled in size earlier this
year,” Mr. McCluskey added.
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New highlight intercepts can be found in Tables 1 and 2, and in Figures 1 to 3 at the end of this
news release.
2023 Exploration Drilling Program – Island Gold Mine
A total of $14 million is budgeted for exploration at Island Gold in 2023. For the past several years,
the exploration focus has been on adding high -grade Mineral Resources at depth, primarily
through surface directional drilling. This exploration strategy has been successful in tripling the
Mineral Reserve and Resource base since 2017. With a 17 -year mine life, and with work on the
Phase 3+ expansion ramping up, the focus has shifted to a more cost -effective expanded
underground exploration drilling progra m that will leverage existing underground infrastructure.
This drilling is much lower cost on a per metre basis, is less technically challenging, and requires
significantly fewer metres per exploration target.
A total of 45,000 m of underground exploration drilling has been planned for 2023. The focus is
on defining new Mineral Reserves and Resources in proximity to existing production horizons and
infrastructure including along strike, and in the hanging -wall and footwall. These potential high -
grade Mineral Reserve and Resource additions would be low cost to develop and could be
incorporated into the mine plan and mined within the next s everal years, further increasing the
value of the operation. To support the underground exploration drilling program, 444 m of
underground exploration drift development is planned to extend drill platforms on the 490, 790,
945, and 980-levels. In addition to the exploration budget, 36,000 m of underground delineation
drilling has been planned and included in sustaining capital for Island Gold.
A total of 32,459 m of underground exploration drilling, and 24,649 m of delineation drilling has
been completed as of October 31, 2023. A regional exploration program including a total of 8,439
m of drilling was also completed in 2023. The focus of this program was on advancing exploration
targets outside the Island Gold Deposit on the newly expanded 55,300 -hectare Island Gold
property, including the Pine-Breccia and 88-60 targets described below.
Island West
Underground Exploration Drilling
Underground drilling has further extended high-grade gold mineralization along strike, 150 m to
the west, and up plunge of existing Mineral Reserves and Resources in the middle portion of
Island West. Drilling is being conducted from the 580-level and the 790-level exploration drifts,
between vertical depths of 700 m and 1,100 m.
New highlights include (Figure 1, Table 1):
C-Zone
• 40.12 g/t Au (40.12 g/t cut) over 2.02 m (790-479-29);
• 17.23 g/t Au (17.23 g/t cut) over 3.02 m (790-479-22);
• 23.79 g/t Au (23.79 g/t cut) over 2.05 m (790-479-20); and
• 12.75 g/t Au (12.75 g/t cut) over 2.38 m (790-479-21).
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Island West Hanging Wall Zones
In addition to testing the C-Zone, underground exploration drilling continued to target and expand
on previous drilling that intersected high -grade gold mineralization in sub -parallel and
perpendicular structures in the hanging wall from the 580, 770, 790, and 850 -levels. Additional
drilling has been successful in establishing continuity and extending high -grade gold
mineralization within multiple structures referred to as the B, G, and G1 Zones (Table 1 ). These
zones are located 20 m, 75 m, and 110 m south of the main C -Zone, respectively, highlighting
the significant potential to add high -grade Mineral Reserves and Resources in proximity of
existing production horizons and infrastructure. These potential high-grade Mineral Reserves and
Resource additions could be incorporated into the mine plan within the next several years and
would be low cost to develop, further increasing the value of the operation.
NS1 Hanging Wall Zone
The NS1 zone is a north-striking structure with a high-angle orientation relative to the C-Zone that
was identified earlier in 2023. Ongoing drill testing, and five exploration sills have been completed
from the 750, 770, 790, 810, and 850-levels which have demonstrated excellent continuity, over
an average strike of 40 m to the south on these levels, and over 100 m vertically. Additional drilling
from the 580, 770, and 900 levels has now expanded the NS1 zone over a vertical extent of 400
m, from the 890 level to the 400 level, and defined an average strike of 70 m.
The first stope was mined from the NS1 Zone late in the third quarter of 2023 with grades
performing in line with annual guidance. The NS1 zone is beyond currently defined Mineral
Reserves and Resources and outside of the 2023 mine plan demonstrating the significant near-
mine opportunities to add additional high -grade production in the near term. In addition, other
north-striking high -angle structures have been identified across the deposit, which will be
evaluated further as underground exploration drilling advances.
New highlights from the Island West Hanging Wall zones include (Table 1):
NS1 Zone
• 121.37 g/t Au (15.47 g/t cut) over 2.65 m (770-475-01);
• 34.08 g/t Au (16.28 g/t cut) over 5.40 m (770-475-12);
• 23.46 g/t Au (10.16 g/t cut) over 2.14 m (770-475-14); and
• 21.89 g/t Au (8.45 g/t cut) over 2.20 m (770-475-13).
B-Zone
• 16.13 g/t Au (13.68 g/t cut) over 2.33 m (770-475-26).
G-Zone
• 15.34 g/t Au (13.60 g/t cut) over 1.99 m (580-473-28).
Island West Footwall Zone
Underground exploration drilling is also targeting and expand ing on previous drilling that
intersected high-grade gold mineralization within a sub-parallel structure in the footwall from the
790-level. Ongoing drilling has been successful in extending high-grade gold mineralization and
establishing further continuity within the DN structure (Table 1). This zone is located 100 m north
of the main C-Zone.
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New highlights from the Island West Footwall DN zone include:
DN Zone
• 47.44 g/t Au (12.02 g/t cut) over 2.43 m (790-479-35);
• 13.97 g/t Au (13.78 g/t cut) over 2.59 m (790-479-33); and
• 13.78 g/t Au (13.78 g/t cut) over 2.48 m (790-479-36).
Island East
Underground Exploration Drilling
Underground drilling from the 620 and 840-level exploration drifts continues to extend high-grade
gold mineralization along strike to the east of Mineral Reserves and Resources in the middle
portion of Island East (between vertical depths of 500 m and 1,000 m).
New highlights in the E1E-Zone include (Figure 1, Table 1):
• 95.41 g/t Au (30.42 g/t cut) over 3.02 m (840-578-26);
• 118.59 g/t Au (61.74 g/t cut) over 2.31 m (1015-640-12);
• 62.09 g/t Au (61.83 g/t cut) over 2.19 m (840-632-24);
• 37.33 g/t Au (33.16 g/t cut) over 2.56 m (840-608-52);
• 5.30 g/t Au (5.30 g/t cut) over 7.08 m (1015-624-08);
• 11.80 g/t Au (11.80 g/t cut) over 2.85 m (840-632-31); and
• 14.22 g/t Au (14.22 g/t cut) over 2.30 m (840-608-43B).
Island East Footwall Zones
In addition to testing the E1E -Zone, underground exploration drilling continued to target and
expand on previous drilling that intersected high -grade gold mineralization in structures in the
footwall from the 620 and 840-levels. This additional drilling has been successful in establishing
continuity and extending high-grade gold mineralization within multiple structures referred to as
the NTH, NTH2, NTH3, NTH4, E1D, and E1D1 zones.
The NTH zones are located 60 to 110 m north of the main E1E -Zone, and the E1D1 and E1D
zones, 10 m and 30 m from the E1E-Zone, respectively.
New highlights from the Island East Footwall zones include (Table 1):
NTH4 Zone (Figure 2):
• 168.03 g/t Au (27.88 g/t cut) over 3.14 m (840-632-21);
• 43.33 g/t Au (24.58 g/t cut) over 2.00 m (840-632-43);
• 25.94 g/t Au (13.92 g/t cut) over 3.14 m (840-632-32);
• 28.80 g/t Au (7.92 g/t cut) over 2.48 m (840-632-33);
• 21.38 g/t Au (8.52 g/t cut) over 2.05 m (840-632-23);
• 16.34 g/t Au (11.35 g/t cut) over 2.44 m (840-632-24);
• 19.55 g/t Au (11.36 g/t cut) over 2.03 m (840-632-25); and
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• 18.42 g/t Au (10.74 g/t cut) over 2.14 m (840-632-38).
NTH Zone
• 10.23 g/t Au (10.23 g/t cut) over 3.92 m (620-SIL-04).
E1D1 Zone
• 47.62 g/t Au (20.19 g/t cut) over 2.78 m (945-624-15);
• 41.40 g/t Au (12.13 g/t cut) over 2.16 m (945-624-16);
• 22.12 g/t Au (6.17 g/t cut) over 3.77 m (945-624-28);
• 17.32 g/t Au (11.84 g/t cut) over 3.81 m (945-624-19A); and
• 9.26 g/t Au (7.49 g/t cut) over 4.80 m (945-624-21).
E1D Zone
• 17.84 g/t Au (10.07 g/t cut) over 3.57 m (945-624-28); and
• 22.71 g/t Au (22.71 g/t cut) over 2.53 m (945-624-29).
As with the hanging and footwall zones in Island West, these footwall zones in Island East
highlight the potential to add high-grade Mineral Reserves and Resources in proximity of existing
production horizons and infrastructure which would be low-cost to develop and mine.
Other Zones
The majority of Island Gold’s Mineral Reserves and Resources and main production horizons are
hosted in the C/E1E structure. The Island Gold Deposit also consists of several sub-parallel and
high-angle mineralized structures outside of the main C/E1E-Zone. As underground development
advances, these sub-parallel hanging wall and footwall structures can be targeted and defined
with step-out drilling from underground drill platforms.
This drilling allows for the confirmation of the geometry and potential continuity of mineralization
with the objective of defining new Mineral Resources. As demonstrated with the E1D, E1ED1,
NTH, NTH2, NTH3, NTH4 and perpendicular NS1 Zone, as well as the B, D, DN, G, and G1
Zones that were defined in 2022, a growing number of these zones are being defined as
underground development is established in these areas.
These zones and other targets within the hanging wall and footwall represent significant
opportunities to define additional Mineral Reserves and Resources outside of the main C/E1E -
Zone in proximity to existing underground development. These additions would enhance the
ounce per vertical metre profile and provide multiple mining horizons from the same lateral
development levels.
The following are highlights of new hanging wall and footwall intersections from underground
exploration drilling where the geometry and continuity is not yet established (“Unknown Zone”)
(reported composite intervals are uncut and as core length, true width is unknown at this time )
(Table 1):
Footwall Intersections:
• 148.67 g/t Au over 2.00 m (790-479-35);
• 68.95 g/t Au over 2.93 m (945-624-19A);
• 33.86 g/t Au over 2.91 m (840-554-66);
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• 37.57 g/t Au over 2.00 m (790-479-32);
• 26.31 g/t Au over 2.48 m (945-624-19A); and
• 30.25 g/t Au over 1.96 m (840-632-28).
Hanging Wall Intersections:
• 65.77 g/t Au over 2.00 m (580-473-39);
• 43.52 g/t Au over 2.84 m (770-475-28);
• 52.65 g/t Au over 2.00 m (900-506-06);
• 19.73 g/t Au over 3.73 m (945-624-20);
• 25.35 g/t Au over 2.66 m (770-475-22); and
• 17.21 g/t Au over 2.98 m (770-475-23).
Regional Exploration
The 2023 Regional Exploration program was successful in identifying high -grade gold
mineralization at multiple early-stage targets, highlighting the significant regional potential across
the 55,300 hectare Island Gold Property . A total of 8,439 m of regional exploration drilling has
been completed to date in 2023. The priority drilling targets in 2023 included the Pine-Breccia,
and 88-60 Zones, which are highlighted below.
Pine-Breccia Target (Figure 3)
Pine Zone
The Pine Zone is located approximately 4 km from the Island Gold Mine and comprises a sheared
sulphide unit truncated by the regional NNW -trending Maskinonge Lake F ault that hosts the
Breccia Zone ( Figure 3). The sulphide unit was identified through a l imited amount of historic
drilling prior to Alamos’ ownership . Follow up channel sampling completed by Alamos in 2022
confirmed and further defined the extent of high-grade mineralization. In 2023, 1,892 m of drilling
was completed in 11 holes following up on the channel sample results. The drilling was successful
in defining high-grade mineralization over an approximate strike extent of 50 m and depth of 150
m. This has been currently interpreted as a narrow , steeply plunging ore shoot, which remains
open down-plunge. Additional high-grade mineralization was intersected in vein arrays within 50
m of the Pine Zone, further supporting the presence of a significant high-grade gold system.
New highlights include (Table 2):
Pine Zone
• 29.77 g/t Au over 9.31 m (23IGX057), including:
o 59.15 g/t Au over 4.39 m, including:
o 378.00 g/t Au over 0.37 m
• 3441.64 g/t Au over 0.67 m (23IGX043), including:
o 6220.00 g/t Au over 0.37 m
• 79.44 g/t Au over 4.06 m (23IGX053), including:
o 932.00 g/t Au over 0.33 m