Toronto, August 18, 2016 – Minera Alamos Inc. (TSX-V:MAI) (the “Company” or “Minera Alamos”) is pleased to announce it has acquired more than 5200 hectares in additional mineral concessions surrounding the La Fortuna gold project in Durango Mexico. The new claims were acquired directly from the federal mining authorities in Mexico (Dirección General de Minas) with no payments to any other third parties. The Company’s total land package now sits at over 6200 hectares.
“The fault structures and tourmaline breccias throughout the La Fortuna Project area have been the source of significant historical mining activity. To date only a limited portion of the La Fortuna Main Zone has been drilled to produce the current NI 43-101 compliant resource,” said Miguel Cardona, Vice President, Exploration at Minera Alamos. “This opportunity to increase our land holdings so substantially provides considerable upside for resource growth as the project continues to advance. We are now reworking our planning to include the newly acquired property in our upcoming exploration program”.
The mineralization at the La Fortuna project is associated with a series of parallel fault structures (approximately 1.5 – 2 km apart) and related tourmaline breccias which can be traced at surface for many kilometers. Three of these mineralized zones were already identified within the Company’s previous concession area. These include the La Fortuna Main Zone, Ramada Zone and PN Prospects. The newly acquired concession area significantly expands the Company’s holdings in all directions around these zones while securing at least two new structures (Los Cajones and El Toro) to the south that exhibit similar characteristics.
- A limited strike length (350-400m) of the La Fortuna Main Zone structure was drilled to produce the current NI 43-101 compliant resource estimate — Measured and Indicated Mineral Resources of 4,824,000 tonnes at 1.99 g/t gold containing 308,100 gold ounces (as previously disclosed in the Company’s press release dated January 18, 2016). Mineralization remains open both at depth and along strike. Fortuna Main Zone style mineralization is evident at surface approximately 400-500m south of the current resource and can be traced along strike for at least another 200m.
- The Los Cajones zone located to the south of the La Fortuna Main Zone in the newly acquired concession area was the subject of historical geochemical sampling by the CRM (Servicio Geologico Mexicano) which outlined a large area of anomalous gold approximately 1500m in length and 200-500m in width. Gold assays included sample values as high as 10.1 g/t. In the early 1990s the San Fernando Mining Company confirmed the presence of similar gold values in the same area.
- The Ramada zone lies on a parallel fault structure approximately 2 km north-east of the La Fortuna deposit with a strike length that can be traced at surface for over 600 meters and grades of up to 15-40 g/t gold in places from sampling both at surface and inside of the historic mine workings
- The PN shear zone is located approximately 1.5 km north-east of Ramada and can be followed at surface for approximately 1.5 km with numerous occurrences of old mine workings. Sampling from this area has confirmed widespread mineralization with gold grades ranging from 1-10 g/t along with silver contents from 50-400 g/t
About Minera Alamos
Minera Alamos is a junior exploration and development company. Its growing portfolio of high-grade Mexican projects includes the La Fortuna open pit gold project in Durango and the Los Verdes open pit copper-molybdenum project in Sonora, both currently in development.
Mr. Darren Koningen, P. Eng., Minera Alamos Inc.’s President, is the Qualified Personresponsible for technical content of this release under National Instrument 43-101. Mr. Koningen has supervised the preparation of, and approved the scientific and technical disclosures utilized in this news release.
Cautionary Note Regarding Forward?Looking Statements
This press release contains "forward looking statements" and "forward-looking information" under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information with respect to the proposed transaction, timing of the closing of proposed transaction and the Company’s consideration of the proposed production plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "estimates", "intends", "anticipates" or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made at the date that such statements are made.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including the risk factors disclosed elsewhere in the Company's public disclosure. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purposes of assisting readers in understanding the Company's plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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For further information, please contact:
Minera Alamos Inc.
Chris Frostad, CEO
Patrick Piette, Investor Relations