Minera Alamos Announces Another New Mineralized System at "Gold Ridge" and Receipt of Santana ETJ Permit Documentation
Minera Alamos Announces Another New Mineralized
System at "Gold Ridge" and Receipt of Santana ETJ
Permit Documentation
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - September 5, 2019) - Minera Alamos Inc. (TSXV: MAI)
("Minera" or the "Company") is pleased to announce that ongoing exploration work on its extensive land position at the Santana
gold project has identified significant new Nicho-style Au-Ag surface anomalies at the newly named "Gold Ridge" discovery
zone to the east of the Nicho deposit.
The current geological model for the Santana project area has identified that gold mineralization is related to a series of
hydrothermal breccias (approximately 300-500m in diameter or greater) hosted by the copula of batholithic intrusions,
porphyritic stocks and by roof pendants of their volcanic host rocks.
The breccia bodies extend from surface to significant
depths.
As part of the ongoing drilling activities the Company is engaged in a systematic review of the entire project concession
area in order to identify additional zones of surface mineralization with the potential for resource definition.
The Company is
encouraged by the scale of the new Gold Ridge discovery that can be traced at surface for almost 1,000m.
The Company will include drill testing of Gold Ridge as part of the previously announced Phase 2 drill program at Santana (
see
news release dated August 15
th
,
2019).
Highlights from the new Gold Ridge discovery include:
147 rock samples have been assayed with roughly one-third exhibiting grades suitable for heap leaching (>0.10 g/t) --
assays ranging from 0.1 g/t to 3.6 g/t gold; and 5 g/t to 669 g/t silver (see Table 1 and Figures 2, 3 and 4)
Mineralized surface exposure over an area of approximately 1,000m x 200m;
Mineralization appears to be contained along a topographic high allowing for reasonable open pit access;
Located approximately 2-3 km from currently planned Santana commercial heap leach facilities (see Figure 1).
ETJ Formal Issuance of Permit
The Company is pleased to announce receipt and formal issuance of the ETJ (Estudio Tecnico Justificativo) for the Company's
Santana gold project (
see news release dated June 27
th
, 2019
). Combined with the MIA (Manifestacion de Impacto Ambiental -
see news release dated August 8
th
, 2019
) these two permits (MIA and ETJ) provide the Company with all the necessary rights
to initiate the construction of commercial scale gold operations at the Santana project site. This includes the mine preparations
and all gold recovery facilities and related infrastructure. In addition, the possession of the MIA-ETJ documentation is the critical
prerequisite for the Company to initiate applications for other permits including those for explosives use and storage that will be
necessary for the initiation of project operations following the completion of construction activities.
Figure 1 - Regional Santana Map showing new Gold Ridge target area
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4183/47552_8cedea59b49d0963_004full.jpg
Table 1 - Gold, Silver and Gold Equivalent Sampling Results (147 total samples taken)
Number of Samples above
Cut-Off**
Cut-Off (g/t)
Max (g/t)
Average (g/t)
Gold
45
0.1
3.6
0.5
Silver
55
5
669
52
Gold Equivalent *
61
0.1
10.3
0.94
*AuEq calculated using $1250/oz gold and $15/oz silver
** Theoretical heap-leach cut-off
Figure 2 - Gold Results from Surface Rock Sampling at Gold Ridge
To view an enhanced version of Figure 2, please visit:
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Figure 3 - Silver Results from Surface Rock Sampling at Gold Ridge
To view an enhanced version of Figure 3 please visit:
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Figure 4 - Gold Equivalent Results from Surface Rock Sampling at Gold Ridge
To view an enhanced version of Figure 4, please visit:
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Other news - Denver Gold Show/Beaver Creek Conference Participation
The Company will be presenting at both the Beaver Creek (September 10
th
-13
th
) and Denver Gold Show (September 15
th
-18
th
)
conferences and looks forward to a full schedule of meetings at both. Webcasts of the two presentations will be made available
on the Company website as they become available.
Rock Samples (g/t Au)Mr. Darren Koningen, P. Eng., Minera Alamos' CEO, is the Qualified Person responsible for the technical
content of this press release under National Instrument 43-101. Mr. Koningen has supervised the preparation of and has
approved the scientific and technical disclosures in this news release.
All samples were prepared and analyzed for gold using fire assaying with AA/gravimetric finish.
All samples were sent for
sample preparation at the ALS-Chemex facility in Hermosillo, Mexico.
For Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email:
Website:
www.mineraalamos.com
About Minera Alamos:
Minera Alamos is an advanced-stage exploration and development company with a portfolio of high-quality Mexican
development assets, including the La Fortuna open-pit gold project in Durango (positive PEA completed and permits granted)
and the Santana open-pit heap-leach development project in Sonora (permits received).
The Company's strategy is to develop low capex, high margin assets with expansion opportunities while continuing to pursue
complementary strategic acquisitions.
Caution Regarding Forward-Looking Statements:
This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking
information is based on certain assumptions and risk factors that could cause actual results to differ materially from the
expectations of Minera Alamos included in this news release. This news release includes certain "forward-looking statements",
which often, but not always, can be identified by the use of words such as "believes", "anticipates", "expects", "estimates",
"may", "could", "would", "will", or "plan". These statements are based on information currently available to Minera Alamos and
Minera Alamos provides no assurance that actual results will meet management's expectations. Forward-looking statements
include estimates and statements with respect to Minera Alamos' future plans with respect to the Projects, objectives or goals, to
the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release
of a resource and reserve estimate on the Projects. Since forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among
other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of
Minera Alamos' mineral properties, the ability to complete a preliminary economic assessment which supports the technical and
economic viability of mineral production could differ materially from those currently anticipated in such statements for many
reasons. Minera Alamos' financial condition and prospects could differ materially from those currently anticipated in such
statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a
preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general
economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative,
environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties
encountered in connection with Minera Alamos' activities; and other matters discussed in this news release and in filings made
with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos' forward-looking
statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera
Alamos' forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be
made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN
THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY
OF THIS RELEASE.
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