Alamos Gold Inc. Reports First Gold Pour at Mulatos Project.TORONTO -- Alamos The name Álamos can refer to the following:
TSX Transfer from Stack Pointer to Index TSX True Space Extension :AGI (Artificial General Intelligence) A machine intelligence that resembles that of a human being. Considered impossible by many, most artificial intelligence (AI) research, projects and products deal with specific applications such as industrial robots, playing chess, ) announces the pouring of its first gold dore bar weighing in at 3.65 kg. (117 ounces) at its Mulatos open-pit mine in Mexico, located in the Sonora State. Currently there are 100,000 tonnes of ore at a grade of 0.90 g/t gold stacked on the leach pad and 300,000 tonnes of broken ore at a similar grade stockpiled adjacent to the pad awaiting screening and loading. The ore has been sourced from approximately 1 million tonnes of colluvium col·lu·vi·um n. pl. col·lu·vi·ums or col·lu·vi·a A loose deposit of rock debris accumulated through the action of gravity at the base of a cliff or slope. material adjacent to the Estrella deposit and some run-of-mine development ore. This initial gold pour is an important milestone in the construction of the Mulatos mine. In addition to the power plant, water and leaching systems and gold recovery plant undergoing commissioning, the refurbished crusher and stacking systems are on site for final assembly and civil work for the crusher is progressing. Pre-stripping of the first 3 million tonnes of material atop the Estrella deposit, consisting of 2.5 million tonnes of waste and 500,000 tonnes of ore grading 1.6 g/t has commenced at a planned rate of 30,000 tonnes per day. Once the Mulatos Project reaches commercial production the mine is expected to produce 150,000 oz. gold annually over a life span of about 10.5 years. Alamos is sufficiently funded to complete construction of the Mulatos mine. Cash on hand is US$33 million compared with a projected cost to complete the Mulatos construction set at US$18 million. The construction of the mine is carried out under the direction of John Van De Beuken, Vice President of Operations and Michael Carter, Mine Manger, in conjunction with the EPCM EPCM Engineering, Procurement, Construction Management EPCM Essential Procedures for Clinical Microbiology EPCM Enhanced Planning Control Message EPCM Enterprise Portal Content Management EPCM European Project & Change Management (The Netherlands) contractor, M3 Engineering. Alamos is a Canadian gold mining company listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. with 100% ownership of the Mulatos Mine. Alamos currently holds 21,300 hectares of mining concessions near the Mulatos Mine. Ore reserves contained within the Phase I Estrella Pit are 36,368,000 tonnes at 1.637 g/t gold containing 1,914,000 ounces of gold. Alamos is currently conducting an advanced exploration program, Phase II Expansion Pit development at nearby El Salto, Mina Vieja and Escondida. 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 has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Alamos Gold Inc. (TSX:AGI) |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion