Toronto, Ontario and Vancouver, British Columbia
Minera Alamos Inc. (“Minera Alamos”) (TSX VENTURE:MAI) is pleased to report that planning is nearing completion for the commencement of its new exploration drill program at the now combined Los Verdes/Santana gold project in Sonora, Mexico.
The Phase One drill program consisting of up to 20 holes with a combined meterage of approximately 3,000 m is anticipated to begin in the next month and will prioritize areas associated with the extension of the Nicho Main deposit to the NW and SE, as well as additional holes at Nicho Norte testing continuity into the contiguous Los Verdes claims (Nicho Norte is currently undergoing bulk heap leaching tests to determine optimal crushing sizes for the potential development of a commercial heap-leach mining operation).
Previous drilling programs at the Santana project outlined significant gold mineralization associated with hydrothermal breccias hosted by stocks and batholithic intrusions (approximately 500m x 300m) in the Nicho Main Zone target area. Drill holes were shallow (??<150m depth) and the mineralization appears to remain open both at depth and along strike. In addition, a number of other mineralized satellite targets were identified within the project area via surface sampling and limited drilling. The most significant of these to date is the Nicho Norte area located approximately 500m northwest of the Nicho Main Zone and which is the subject of ongoing heap leach test mining activities. Similar gold mineralization was once again drilled via shallow holes (<150m) over a strike length of approximately 200m right up to the limits of the then owner’s (Corex Gold) northern claim boundary. The identified mineralization appears to extend northwards onto the contiguous Minera Alamos Los Verdes concessions and testing these extensions will be one of the primary objectives of the current exploration program.
The Company’s current exploration program will be the first drilling campaign at the project since the Nicho deposit was delineated in 2009-2011. During that time 25,000m of total drilling was completed; approximately half occurred within the Main Zone area, returning significant intervals of disseminated gold mineralization such as those illustrated within a typical cross-section presented in Figure 1:
- 87 m grading 1.04 g/t gold; and
- 47.5m grading 0.80 g/t gold
Mineralization extends from surface and appears to remain open at depth. A portion of the currently budgeted drill program will be aimed at confirming the vertical continuity of the deposits.
“The opportunity to combine the two respective project areas within Minera Alamos immediately provides near-term gold exploration upside by allowing the previously identified Nicho gold structures to be followed onto the southern end of the Company’s Los Verdes concessions.” stated Doug Ramshaw, President of Minera Alamos. “These concessions were known to be the subject of historical gold activity and recent surface work by our exploration group has confirmed the presence of Nicho-style geology across the concession boundaries. In addition to targeting lateral extensions, the current program will also allow the Company to confirm the deeper vertical potential of the deposits. We look forward to providing updates on the progress and results from the drill program over the coming months.”
Santana Gold Project
The main mineralized zones of the Santana project exhibit strong, low sulfidation alteration characterized by pervasive and structurally controlled sericite-quartz-calcite alteration, with associated disseminated iron oxides, quartz vein stockworks and clay alteration. Numerous historical pits and small mines are also evident. The alteration is hosted in intermediate flows, tuffs, and comagmatic dikes and plugs. Gold and silver mineralization is controlled by both lithologic and structural features and presents itself at the Nicho Main and Norte zones as mineralized elliptical sub-vertical hydrothermal breccias. Full historical information pertaining to the exploration campaigns by the now wholly-owned subsidiary Corex Gold can be found on www.sedar.com.
Drilling at the Nicho Norte satellite deposit returned similar results (see below) to those in the Main Zone area but progress was stopped at the property boundary with the Los Verdes claims to the north. All indications from recent site mapping efforts in the field suggest that mineralization extends into the Los Verdes concession areas. Significant intervals of disseminated gold mineralization were encountered during the previous drill campaigns such as those illustrated within a typical cross-section presented in Figure 2.
- 93 m grading 1.03 g/t gold; and
- 75 m grading 0.78 g/t gold
Figure 2 – Nicho Norte zone
For Further Information Please Contact:
Minera Alamos Inc.
Darren Koningen, CEO
Email: [email protected]
Doug Ramshaw, President
Email: [email protected]
About Minera Alamos
Minera Alamos is an advanced stage exploration and development company. Its growing portfolio of highgrade Mexican projects includes the La Fortuna open pit gold project in Durango and the Guadalupe de los Reyes gold/silver project in Sinaloa as well as the now combined Santana/Los Verdes gold-copper project in Sonora. The Company is well financed to conduct all of its planned exploration and development activities and continues to pursue additional project acquisitions in Latin America.
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 approved the scientific and technical disclosures in this news release.
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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