Minera Alamos Reports Additional Historical Drill Data from the Cerro de Oro Gold Project, Zacatecas, Mexico Includes Intersections of 96m of 1.1 g/t Au and 112m of 0.42 g/t Au
Minera Alamos Reports Additional Historical
Drill Data from the Cerro de Oro Gold Project,
Zacatecas, Mexico
Includes Intersections of 96m of 1.1 g/t Au and 112m of 0.42
g/t Au
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - September 15, 2020) -
Minera
Alamos Inc.
(TSXV: MAI)
(the "Company" or "Minera Alamos")
is pleased to announce it is
continuing to review and compile the remaining historical drill data from the Cerro de Oro gold project in
Zacatecas, Mexico (
see news release dated August 4
th
, 2020
). The project is located less than 3km
from the town of Melchor Ocampo and approximately 30 km from the district's mining hub at Concepcion
del Oro. This area of north-central Mexico is famous for its mineral production, most notably related to
gold and silver rich-intrusive-related deposits. Of particular note are a number of nearby large-scale
mining operations including Peñasquito (Newmont) just 30km away, Tayahua (Frisco), Noche Buena
(Fresnillo) and Camino Rojo (Orla).
Initial engineering studies are already underway while the Company works on a NI43-101 Compliant
Mineral Resource Estimate for the project expected to be completed in late October.
"The drilling that took place in 2017 and 2018 confirmed the widespread nature of the surface cropping
disseminated gold mineralization throughout the Cerro de Oro project area.
Mineralization was present
in almost every hole beginning from near surface and remaining open for additional testing at depth,"
stated Darren Koningen, CEO.
"As the Company works toward completion of an initial NI43-101
resource estimate we are seeing two well defined zones that are already the subject of early scoping
and engineering work being conducted internally by our team.
We look forward to the results of this
preliminary work which will serve as the basis for permit application submittals in the coming months."
Highlights of the 2017/18 Drill Campaigns
Confirmation of disseminated gold values in the southern area of the project (
see news release
dated August 4
th
2020
) and included: 96m of 1.1 g/t Au; 32m of 0.67 g/t Au; 72m of 0.47 g/t Au;
and 78m of 0.38 g/t Au;
Continuation of gold mineralization in the northern portion of the project area (north of structural
break between the two zones) including intercepts such as: 48m of 0.7 g/t Au; 112m of 0.42 g/t Au;
100m of 0.42 g/t Au; 40m of 0.51 g/t Au; and 54m of 0.76 g/t Au
As with the South Zone, the North Zone mineralization largely begins at/near surface with many of
the holes ended in mineralization; and
Disseminated mineralisation appears to remain open in all directions on the previously announced
acquired properties with the potential to expand into the north and southwest contiguous
concession areas which were owned by Minera Alamos prior to the acquisitions.
Figure 1 - Drill hole Location Map
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4183/63835_952bdf62e4ce3859_002full.jpg
The disseminated gold and skarn related mineralisation at Cerro de Oro is represented by a gold
porphyry system characterized by A, B, and magnetite veins with associated potassic alteration that is
overprinted by phyllic alteration, with the gold mostly hosted by a porphyritic intrusive centre. The deposit
appears to be divided into two zones (North and South) by an east-west fault. Initial drilling was
conducted in the 1990's by Noranda and was comprised of 20 widely spaced holes on approximately
100m to 200m spacings largely targeting the South Zone (
see news release dated August 4
th
2020
).
The 2017-2018 drill programs completed by a private operator comprised approximately 4,000m of RC
drilling and served to infill and confirm drilling in the South Zone as well as significantly expand the known
extensions of the less defined North Zone.
Historical information from the 2017 and 2018 drilling programs is presented below in Table 1 for
reference purposes (Note:
As the drill results are historic in nature, Minera Alamos has not yet been
able to fully verify the data disclosed, including sampling, analytical, and test data underlying the
information included in the following tables.
)
Table 1 - 2017-2018 Historical Drill Campaign Drill Results
Hole Number
From (m)
To (m)
Interval (m)
Au Grade (g/t)
Zone
CR-17-01
6
54
48
0.70
North - oxide
CR-17-02
10
102
92
0.13
North - oxide
CR-17-03
6
70
64
0.15
North - oxide
CR-17-04
10
122
112
0.42
North - oxide
CR-17-05
12
132
120
0.28
North - oxide
Including
92
132
40
0.51
North - oxide
CR-17-06
10
158
148
0.18
North - oxide
CR-17-07
10
114
104
0.16
North - oxide
CR-17-08
4
78
74
0.18
North - oxide
CR-17-09
6
90
84
0.28
North - oxide
CR-17-10
2
66
64
0.38
North - oxide
CR-17-11
8
96
88
0.23
North - oxide
Including
40
82
42
0.42
North - oxide
CR-17-12
8
84
76
0.12
North - oxide
Including
12
50
38
0.18
North - oxide
CR-17-13
2
102
100
0.42
North - oxide
Including
2
68
66
0.53
North - oxide
CR-17-14
2
60
58
0.18
North - oxide
CR-18-15
6
102
96
0.06
North - oxide
CR-18-16
6
72
66
0.14
North - oxide
CR-18-17
12
66
54
0.76
North - oxide
CR-18-18
0
78
78
0.14
North - oxide
CR-18-19
4
24
20
0.08
North - oxide
CR-18-20
0
60
60
0.19
North - oxide
CR-18-21
0
102
102
0.38
North - oxide
Including
0
70
70
0.44
North - oxide
CR-18-22
2
108
106
0.26
North - oxide
CR-18-23
2
78
76
0.15
North - oxide
CR-18-24
0
96
96
0.34
North - oxide
CR-18-25
0
102
102
0.31
North - oxide
Including
0
60
60
0.41
North - oxide
CR-18-26
0
84
84
0.23
North - oxide
Including
0
34
34
0.35
North - oxide
CR-18-27
0
54
54
0.31
North - oxide
CR-18-28
0
150
150
0.26
North - oxide
Including
2
40
38
0.38
North - oxide
CR-18-29
0
138
138
0.16
North - oxide
CR-18-30
0
24
24
0.10
North - oxide
CR-18-31
0
126
126
0.15
South - oxide
Including
0
24
24
0.29
South - oxide
CR-18-32
0
72
72
0.47
South - oxide
Including
0
32
32
0.67
South - oxide
CR-18-33
2
72
70
0.09
South - oxide
CR-18-34
0
78
78
0.17
South - oxide
CR-18-35
0
72
72
0.14
South - oxide
CR-18-36
0
66
66
0.10
South - oxide
CR-18-37
0
78
78
0.18
South - oxide
Including
38
60
22
0.29
South - oxide
CR-18-38
0
78
78
0.38
South - oxide
Including
2
58
56
0.47
South - oxide
CR-18-39
0
90
90
0.19
South - oxide
Including
0
28
28
0.42
South - oxide
CR-18-40
0
66
66
0.33
South - oxide
Including
0
24
24
0.62
South - oxide
CR-18-41
0
114
114
0.24
South - oxide
Including
2
58
56
0.30
South - oxide
CR-18-42
0
96
96
1.10
South - oxide
Including
0
64
64
1.33
South - oxide
CR-18-43
0
74
74
0.37
South - oxide
Including
0
42
42
0.50
South - oxide
CR-18-44
0
66
66
0.25
South - oxide
Including
0
26
26
0.41
South - oxide
CR-18-45
0
60
60
0.09
South - oxide
CR-18-46
0
72
72
0.18
South - oxide
CR-18-47
0
90
90
0.06
South - oxide
CR-18-48
0
66
66
0.12
North - oxide
CR-18-49
0
54
54
0.04
South - oxide
CR-18-50
0
112
112
0.20
South - oxide
Notes:
1
.
Grades/widths of mineralized intervals represent complete "from" "to" drill depths as shown.
2
.
All holes were drilled at 60-70 degree inclinations.
The true widths of the mineralized zones in
these areas are currently unknown.
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 Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email:
Website:
www.mineraalamos.com
Victoria Vargas de Szarzynski, VP Investor Relations
Tel: 289-242-3599
Email:
About Minera Alamos Inc.
Minera Alamos is a gold development company poised to join the ranks of gold producers in 2021. The
Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit,
heap-leach development project in Sonora that is currently under construction, and which is expected to
have its first gold production in early 2021.
The newly acquired 100%-owned Cerro de Oro oxide gold
project in northern Zacatecas that has considerable past drilling and metallurgical work completed and
could enter the permitting process rapidly. The La Fortuna open pit gold project in Durango (100%-
owned) has an extremely robust and positive preliminary economic assessment (PEA) completed and
the Company is nearing the end of the permitting process for the project. A construction decision on La
Fortuna could be made in late 2020 or early 2021, highlighting the organic growth the existing project
portfolio can provide to the overall production profile.
Minera Alamos is built around its operating team
that together brought 3 mines into production in Mexico over the last 12 years.
The Company's strategy is to develop very low capex assets while expanding the projects' resources
and continuing to pursue complementary strategic acquisitions.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/63835