Minera Alamos Intersects 127m of 0.81 g/t Gold Ending in Mineralization from Phase 1 Drilling at Santana Project, Sonora, Mexico
Minera Alamos Intersects 127m of 0.81 g/t Gold Ending in
Mineralization from Phase 1 Drilling at Santana Project,
Sonora, Mexico
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - November 1, 2018) -
Minera Alamos Inc.
(TSX
V: MAI
)
(
the "Company" or
"Minera Alamos")
is pleased to report additional results from its Phase 1 drill program at the Santana
gold project, Sonora, Mexico.
Phase 1
Exploration
Highlights:
Latest
Hole S18-1
2
3 - 127 m of 0.81 g/t Au
- Along with S18-123/124, holes S18-116/117/118/119 (previously reported)
delineated broad zones of near surface mineralized extensions of the Nicho Main deposit trending southwest of previous
historical drilling.
Other highlights included 93.5 m of 0.63 g/t Au (S18-116) and 80.4 m of 1.05 g/t Au (S18-117).
Holes S18-123/124 which tested the SW limits of the Nicho Main zone both ended within the mineralized
horizo
n
(approximately 150m down hole at 45-degree dip) and indicate potential for deep mineralization extensions that
were not considered in previous exploration programs.
New Discovery Hole S18-12
1
- 96 m of 1.47 g/t
AuEq
- First hole drilled into a new zone of gold/silver/copper
mineralization (Divisadero Zone) located approximately 200m north of the previously known limits at the Nicho Main/Norte
Zones.
Subsequent surface mapping has confirmed that the new area appears to be open for expansion in all directions.
Discovery of New Nicho-Style Gold Structure (
Zata
Zone)
- Over a surface area of approximately 400m x 400m, sixty-
six (66) rock samples were assayed with 50% exhibiting grades suitable for heap leaching (>0.10 g/t Au).
"The Phase 1 program at the Santana gold project has been an overwhelming success," states Darren Koningen, CEO of
Minera Alamos.
"With the first significant exploration activity on the project since 2011 we have been able to demonstrate that
the Nicho Main zone remains open for further expansion.
In addition, our ongoing efforts to better understand the geological
controls on gold mineralization that occur throughout the property have already been validated by the discovery of the new
Divisadero and Zata zones.
It is becoming increasingly evident that the mineralizing events that occurred in the Nicho area are
present at shallow depths elsewhere on our extensive property holdings.
Once we complete the final compilation of the current
data we look forward to the initiation of a Phase 2 drilling program."
Table 1 -
Nicho Zone
Drilling Results Summary Table
Mineralized Interval
1,2
Composite Interval
3
Drill Hole
From (m)
To
(m)
Width
(m)
Gold (g/t)
Width
(m)
Gold
(g/t)
Area
S18-114
14.0
29.5
15.5
0.27
Nicho Satellite
And
66.2
81.1
14.9
1.40
And
107.2
117.0
9.8
0.65
And
145.5
172.0
26.5
0.21
S18-115
8.2
26.0
17.8
0.73
Nicho Satellite
And
61.0
73.8
12.8
0.17
And
123.9
129.5
5.6
0.24
S18-116
2.0
95.5
93.5
0.65
60.0
0.97
Nicho
S18-117
19.3
99.7
80.4
1.05
42.0
1.96
Nicho
S18-118
2.5
10.5
8.0
1.0
Nicho
And
48.5
73.0
24.5
0.81
And
90.0
103.6
13.6
0.29
S18-119
1.3
10.7
9.4
0.14
Nicho
And
20.5
34.9
14.4
0.33
And
77.9
82.5
4.6
0.25
S18-120
Hole abandoned due to faulting
Nicho Norte
S18-122
5
No significant mineralization
Nicho Norte
S18-123
4
23.2
150.5
127.3
0.81
63.7
1.55
Nicho
S18-124
4
8.5
38.5
30.0
0.23
Nicho
And
85.5
160.0
74.5
0.32
Notes:
1
.
Grades/widths of mineralized intervals represent complete "from" "to" drill depths as shown.
2
.
All holes (with the exception of S18-122 which was drilled vertically) were drilled at 45-70 degree inclinations designed to
be roughly perpendicular to the understood dip of mineralized structures based on the current understanding of the
geological structures.
The true widths of the mineralized zones in these areas are currently unknown.
3
.
Grade/width of composite intervals is a total of all mineralized intervals that have gold grades equal to or in excess of
"typical" open-pit mining heap leach cut-off grades of 0.15 g/t gold.
4
.
Hole ended in mineralization
5
.
Hole S18-122 was redrilled vertically in the same location as S18-120 which was abandoned.
Table
2
-
Divisadero Porphyry Discovery Hole
Mineralized Interval
1,2
Drill Hole
From
(m)
To
(m)
Width
(m)
Gold
(g/t)
Silver
(g/t)
Copper
(%)
Gold Eq
3
(g/t)
Area
S18-
121
32.0
127.7
95.7
0.85
9.8
0.33
1.47
Divisadero
incl
55.0
125.0
70.0
1.10
11.8
0.56
1.88
Notes:
1
.
Grades/widths of mineralized intervals represent complete "from" "to" drill depths as shown.
2
.
The hole was drilled at a 70-degree inclination.
The true width of the mineralized zone in this new area is currently
unknown.
3
.
Gold Equivalent calculated using the following metal prices - $1250/oz gold, $16/oz silver and $2.85/lb copper.
Figure 1 - Drill Hole Location Map
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4183/40786_b409c011d46eaa84_002full.jpg
All diamond drill samples were collected by Minera Alamos personnel including the Company's exploration geologists.
Drill core
samples were cut in half and divided into 1-2 m intervals.
One half of the sample was bagged for analysis and the remaining half
was logged by Minera Alamos personnel and stored for future reference.
Blanks, duplicates, and standards were randomly
inserted with the samples sent for analysis as part of the normal QA/QC procedures.
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.
Figure
2
-
Santana Overview Map
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4183/40786_b409c011d46eaa84_003full.jpg
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.
For
f
urther
i
nformation
p
lease
c
ontact:
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 growing portfolio of high-quality Mexican
assets, including the La Fortuna open-pit gold project in Durango with positive PEA completed, the Santana open-pit heap-
leach development project in Sonora with test mining and processing completed and the Guadalupe de Los Reyes open-pit
gold-silver project in Sinaloa with mine planning in progress.
The Company is awaiting the pending approval of permit
applications related to the commercial production of gold at both the Santana and Fortuna projects.
The Company's strategy is to develop low capex assets while expanding the project resources and 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.
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