Alamos Gold Inc.: Exploration Starts at Mulatos and Salamandra; Community Relations Update-Warrants Bring in $2.3 Million Grant of Incentive Stock Options.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--July 25, 2003 Alamos The name Álamos can refer to the following:
Barrick has acquired 100% of the Placer Dome shares on January 20, 2006, and has integrated the company into its own. Exploration as Sr. Project Geologist for the Mulatos Project and Manager of the Mexico exploration program from 1997-1999. He was on Placer's Mulatos district regional evaluation team in 1994, the Sierra Madre Sierra Madre, city, United States Sierra Madre (sēĕr`ə mä`drā), residential city (1990 pop. 10,762), Los Angeles co., S Calif., at the foot of Mt. Wilson; inc. 1907. There is some light manufacturing. reconnaissance program in 1995, and the Mexico exploration program in 1996. Mr. Balleweg's re-interpretation of the Mulatos deposit lead to the discovery of 1.5 million additional gold ounces at the Escondida and Gap zones. His work in the El Halcon area resulted in the discovery of the Los Bajios area. Alamos' holdings in Sonora State comprise over 16,000 hectares of mineral claims. Exploration this summer is covering areas within the Mulatos deposit and 8 additional zones within the district. Mulatos Exploration The exploration plan at the Mulatos deposit is focused on increasing the ore grade Ore grade is a measure that describes the concentration of a valuable natural material (such as metals or minerals) in its surrounding ore. Ore grade is used to assess the economic feasibility of a mining operation: the cost of extracting a natural material from its ore is directly . Previous exploration activities were focused on defining bulk tonnage mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . No attempt was made to delineate high-grade gold domains and structural controls that are clearly exposed in the extensive 1,061 meters of underground tunnels. Bench level maps from the Placer Dome resource model indicate northeast and northwest structural control on higher-grade gold, with domains of higher-grade mineralization up to 100m long and 50m wide. A detailed mapping survey of surface and underground structure and alteration was recently completed to define the structural controls of high-grade gold mineralization. Through this work Alamos has identified areas amenable to selective mining early in the project life, identified additional areas of oxide mineralization and open mineralization, allowed tightening of grade distribution in the new resource model, and defined drill targets for a 1,500 metre underground core drilling program to commence in August. Previous drilling from the surface resulted in numerous holes being oriented sub-parallel to some of the primary structural controls of high-grade gold. Underground drilling will allow exploration of the higher-grade structures normal to their trend, and is expected to encounter higher-grade oxide mineralization missed by surface drilling. Results from the study and drilling are expected in the fourth quarter. A surface RC drilling program will also be conducted at the Mulatos deposit to target structurally controlled high-grade mineralization in two adjacent zones discovered in previous drilling programs. Previous work targeted the large-tonnage replacement mineralization marginal to the structures. Structural zones were not drill-tested. Drill intercepts with visible gold and containing greater than one ounce per ton were not targeted with follow-up drilling. The surface drilling program will target the structural roots of the historic mine area which produced a significant tonnage of free-milling high-grade ore. Salamandra District Exploration A regional exploration program will be focused on discovering new mineralization in areas of extensive alteration located within 8 concessions controlled by Alamos in the Salamandra Gold District. Alamos recently discovered silicified si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. breccias in the central Bajios area similar to those closely associated with gold in the main Mulatos deposit. An IP survey is planned to delineate drill targets in the El Halcon and Los Bajios areas supplemented by detailed alteration mapping and sampling in areas of outcropping or projected near-surface mineralization. The previous owners discovered outcroppings of gold-copper and gold mineralization in the Los Bajios area in 1999, but these targets were not pursued. Alamos' recent discovery of advanced argillic alteration commonly found near gold mineralization led to the staking of a new area south of the Mulatos deposit. The "Carboneras" zone may be an extension of the Mulatos system or a new subsidiary system. Reconnaissance exploration with PIMA alteration mapping and geochemical analyses will be undertaken on the new concession. Aster remote sensing Deriving digital models of an area on the earth. Using special cameras from airplanes or satellites, either the sun's reflections or the earth's temperature is turned into digital maps of the area. imagery has been obtained for the greater Mulatos district which is helping to identify additional areas of alteration on the concessions similar in nature to those known to contain gold deposition. Community Relations 1. The relationship between military and civilian communities. 2. Those public affairs programs that address issues of interest to the general public, business, academia, veterans, Service organizations, military-related associations, and other non-news media entities. Update Agrarian Court proceedings stemming from two disputes concerning the Company's contractual rights A contractual right is a claim, on other persons, that is acknowledged and perhaps reciprocated among the principals associated with that claim. Specialized contractual rights exist as part of a "contract" or agreement between persons to whom these rights belong. to reduce surface areas leased and payments to the Ejido ejido (āhē`thō) [Span.,=common land], in Mexico, agricultural land expropriated from large private holdings and redistributed to communal farms. Mulatos (the surface rights holders) have been completed. The judge's rulings in these cases are expected soon. Ejido Mulatos officials and the Company have been conducting meetings and are forming a committee to promote communications. The Company is nearing completion of interviews with community members to identify concerns and establish a baseline of information. Access road improvements and evaluation of utility services has begun. Work is being provided through exploration, sampling, metallurgical testing, construction and camp services programs. Warrants Exercised and Grant of Incentive Stock Options Warrants to purchase 2,586,250 common shares of Alamos at $0.90 per share were exercised by shareholders by the July 22, 2003 expiry date expiry date expire n → date f d'expiration; (on label) → à utiliser avant ... expiry date expire n → Ablauftermin m , increasing Alamos' working capital to $2.7 million. Alamos has granted incentive stock options to some of its directors and consultants under its Stock Option Plan to purchase up to a total of 682,483 common shares of the company. The options are exercisable at a price of $1.13 per share for a five-year period. Alamos' Stock Option Plan received shareholder approval on June 26, 2003 and TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. acceptance on July 10, 2003. Alamos Gold is a precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. exploration and development company with its Salamandra exploration properties and its Mulatos project, an advanced gold deposit currently in the bankable bank·a·ble adj. 1. Acceptable to or at a bank: bankable funds. 2. Guaranteed to bring profit: a bankable movie star. feasibility phase of development. ON BEHALF OF THE BOARD Chester F. Millar, President and Chairman of the Board The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the United States Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995: Statement in this release that are forward-looking, including statements relating to the future recovery of the Mulatos Project, are subject to various risks and uncertainties concerning the specific factors identified about in the Company's periodic filings with the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. and the U. S. Securities Exchange Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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