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TORONTO, Nov. 11, 2021 (GLOBE NEWSWIRE) — Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today appear new after-effects from apparent and underground appraisal conduct at the Island Gold mine, added extending high-grade gold mineralization in the boilerplate and lower portions of Island East. All appear assignment widths are accurate amplitude of the mineralized zones, unless contrarily stated.
Note: Drillhole blended intervals appear as “cut” may accommodate college brand samples which acquire been cut to 185 g/t Au for the Island East Area.
“Ongoing appraisal success at Island Gold continues to authenticate the cogent abeyant for added advance in Mineral Affluence and Resources. This included intersecting high-grade mineralization 300 metres above absolute Mineral Resources in the centermost aperture accomplished to date at Island Gold. These after-effects are in adjacency to the planned shaft and highlight the amazing upside abeyant above what was categorical in the Phase III Amplification study,” said John A. McCluskey, President and Chief Executive Officer.
New highlight intercepts can be begin in Tables 1 and 2, and in Figures 1 to 3 at the end of this account release.
Surface Directional Drilling
Surface directional conduct continues to extend high-grade gold mineralization above Mineral Ability blocks in the lower portions of Island East (Figures 1 and 2). New highlights from the conduct affairs accommodate (E1E-Zone) (Table 1):
Drill holes MH25-10 (15.86 g/t Au (10.74 g/t cut) over 16.04 m) and MH25-11 (15.76 g/t Au (15.76 g/t cut) over 10.82 m) intersected wide, high-grade mineralization 50 m and 45 m above the abutting Inferred Mineral Ability block in Island East. These assignment holes abide to extend gold mineralization down-plunge from drillhole MH25-08 (71.21 g/t Au (39.24 g/t cut) over 21.33 m), the best aperture anytime accomplished at Island Gold, and drillhole MH25-04 (28.97 g/t Au (27.96 g/t cut) over 21.76 m) (both ahead released; see columnist absolution anachronous June 15, 2021).
In addition, assignment holes MH27-02 (11.90 g/t Au (11.90 g/t cut) over 4.60 m) and MH27-01 (9.07 g/t Au (9.07 g/t cut) over 2.12 m) intersected high-grade mineralization 300 m and 235 m from the abutting Inferred Mineral Ability block in Island East. Drillhole MH27-02 is the centermost aperture accomplished to date at Island Gold, intersecting high-grade mineralization at a abyss of 1,717 m, able-bodied beneath absolute Mineral Resources which extend to a abyss of about 1,500 m. This additionally continued high-grade mineralization to aural 200 m of the above Trillium Mining mineral tenure, reinforcing the cardinal arete of accepting Trillium and this acreage in December 2020.
Drill holes MH27-02 and MH27-01 targeted the basic Island Gold area to the east of a north-south trending diabase dyke which was emplaced alternating a above-mentioned fault. The accepted geological interpretation, based on the antecedent holes, is that the area appears to be displaced beyond the accountability about 140 m to the arctic and afterpiece to the planned shaft bottom. Added conduct will be completed to affirm these intersections are aural the aforementioned anatomy with the after-effects to date highlighting the cogent abeyant for added Mineral Assets and Ability advance able-bodied beneath and down-plunge from absolute Mineral Resources, and in afterpiece adjacency to planned infrastructure.
Underground Appraisal Drilling
Underground conduct from the 840-level appraisal alluvion continues to extend high-grade mineralization and abutting the gap amid Mineral Affluence and Resources in the high and boilerplate portions of Island East (between base of 800 m and 1,000 m) (Figure 3). New highlights accommodate (E1E-Zone) (Table 2):
The Island Gold Drop consists of a cardinal of subparallel mineralized zones, with the majority of Mineral Affluence and Resources authentic in the C Area and E1E-Zone which aggregate the basic assembly horizons at the Island Gold Mine. Highlights of new intersections from underground and apparent appraisal conduct of alongside zones and zones in which the crabbed chain is not yet accustomed (“Unknown Zone”) accommodate (reported blended intervals are bulk lengths) (Tables 1 and 2):
Scott R.G. Parsons, P.Geo., FAusIMM, Alamos Gold’s Vice President, Exploration, has advised and accustomed the accurate and abstruse advice independent in this account release. Scott R.G. Parsons is a Qualified Person aural the acceptation of Canadian Balance Administrator’s Civic Instrument 43-101 (“NI 43-101”).
Exploration programs at the Island Gold Abundance are directed by Raynald Vincent, P.Eng., M.G.P., Appraisal Superintendent at the Island Gold Abundance and a Qualified Person aural the acceptation of NI 43-101.
Alamos Gold maintains an centralized QA/QC affairs at the Island Gold Abundance to ensure sampling and appraisal of all appraisal assignment is conducted in accordance with best practices.
Access to the Island Gold Abundance is controlled by aegis personnel. Assignment bulk is logged and sampled at the bulk logging adeptness aural the abundance armpit beneath the administration of a Qualified Geologist. A geologist marks the alone samples for analysis, and sample intervals, sample numbers, standards and blanks are entered into the database. The bulk is cut in bisected application an electric bulk saw able with a design angled blade. One bisected of the bulk is placed into a artificial sample bag and closed with zip ties in alertness for shipment. The added bisected of the bulk is alternate to the bulk box and retained for approaching reference. The samples are placed in ample able nylon able Fabrene bags, which are articular and closed afore actuality placed on pallets. The bulk samples are best up at the abundance armpit and delivered to AGAT class in Thunder Bay, Ontario.
Gold is analyzed by a 50 grams blaze appraisal with an Atomic Absorption (AA) finish. Samples greater than 6.5 g/t Au are re-analyzed application gravimetric accomplishment methods. AGAT is a certified class and has centralized affection ascendancy (“QC”) programs that accommodate admittance of reagent blanks, advertence materials, and lurid duplicates.
The Corporation inserts QC samples (blanks and advertence materials) at approved intervals to adviser class performance. Cross analysis assays are completed on a approved base in a accessory accepted laboratory. The QA/QC procedures are added absolutely declared in the Abstruse Report filed on SEDAR August 31, 2020.
Alamos is a Canadian-based boilerplate gold ambassador with adapted assembly from three operating mines in Arctic America. This includes the Young-Davidson and Island Gold mines in arctic Ontario, Canada and the Mulatos abundance in Sonora State, Mexico. Additionally, the Company has a cogent portfolio of development date projects in Canada, Mexico, Turkey, and the United States. Alamos employs added than 1,700 bodies and is committed to the accomplished standards of acceptable development. The Company’s shares are traded on the TSX and NYSE beneath the attribute “AGI”.
FOR FURTHER INFORMATION, PLEASE CONTACT:
All amounts are in United States dollars, unless contrarily stated.
The TSX and NYSE acquire not advised and do not acquire albatross for the capability or accurateness of this release.
This account absolution includes assertive statements that aggregate advanced advice aural the acceptation of applicative Canadian and U.S. balance laws (“forward-looking statements”). All statements in this account release, added than statements of absolute fact, which abode events, results, outcomes or developments that Alamos expects to action are advanced statements. Advanced statements are generally, but not always, articular by the use of advanced analogue such as “continue”, “focus”, “estimate”, or “potential” or variations of such words and phrases and agnate expressions or statements that assertive actions, contest or after-effects “may”, “could”, “would”, “might” or “will” be taken, action or be accomplished or the abrogating association of such terms. In particular, this account absolution contains advanced statements including, after limitation, with account to apparent and underground appraisal conduct at the Island Gold mine, the admiration of Mineral Resources, appraisal results, abeyant mineralization, changes in Mineral Resources and Mineral Reserves, Island Gold’s Phase III amplification and added advice that is based on forecasts and projections of approaching operational, geological or banking results, estimates of amounts not yet determinable and assumptions of management.
Exploration after-effects that accommodate geophysics, sampling, and assignment after-effects on advanced spacings may not be apocalyptic of the accident of a mineral deposit. Such after-effects do not accommodate affirmation that added assignment will authorize acceptable grade, continuity, metallurgical characteristics and bread-and-butter abeyant to be classed as a class of Mineral Resource. A Mineral Ability that is classified as “Inferred” or “Indicated” has a abundant bulk of ambiguity as to its actuality and bread-and-butter and acknowledged feasibility. It cannot be affected that any or allotment of an “Indicated Mineral Resource” or “Inferred Mineral Resource” will anytime be upgraded to a college class of Mineral Resource. Investors are cautioned not to accept that all or any allotment of mineral deposits in these categories will anytime be adapted into Proven and Probable Mineral Reserves.
Forward-looking statements are necessarily based aloft a cardinal of factors and assumptions that, while advised reasonable by administration at the time of authoritative such statements, are inherently accountable to cogent business, economic, technical, legal, political and aggressive uncertainties and contingencies. Known and alien factors could account absolute after-effects to alter materially from those projected in the advanced statements, and disproportionate assurance should not be placed on such statements and information.
Such factors and assumptions basal the advanced statements in this account absolution include: the absolute after-effects of accepted appraisal activities, abstracts of bread-and-butter and geological evaluations, changes in activity ambit as affairs abide to be refined, operations may be apparent to boundless pandemic; the appulse of the COVID-19 communicable on the broader market; bigoted and federal orders or mandates (including with account to mining operations about or abetting businesses or casework appropriate for our operations) in Canada, Mexico, the United States and Turkey; the continuance of authoritative responses to the COVID-19 pandemic; changes in civic and bounded government legislation, controls or regulations, abortion to accede with ecology and bloom and assurance laws and regulations; labour and architect availability (and actuality able to defended the aforementioned on favourable terms); disruptions in the aliment or accouterment of appropriate basement and advice technology systems; fluctuations in the bulk of gold or assertive added bolt such as, agent fuel, accustomed gas, and electricity; operating or abstruse difficulties in affiliation with mining or development activities, including geotechnical challenges and changes to assembly estimates (which accept accurateness of projected ore grade, mining rates, accretion timing and accretion bulk estimates and may be impacted by unscheduled maintenance; changes in adopted barter ante (particularly the Canadian dollar, U.S. dollar, Mexican peso and Turkish Lira); the appulse of inflation; agent and association relations; action and authoritative proceedings; disruptions affecting operations; availability of and added costs associated with mining inputs and labour; delays with the Phase III Amplification Activity at the Island Gold mine; inherent risks and hazards associated with mining and mineral processing including ecology hazards, automated accidents, abnormal or abrupt formations, pressures and cave-ins; the accident that the Company’s mines may not accomplish as planned; ambiguity with the Company’s adeptness to defended added basic to assassinate its business plans; the abstract attributes of mineral appraisal and development, risks in accepting and advancement all-important licenses, permits and authorizations, contests over appellation to properties; confiscation or nationalization of property; political or bread-and-butter developments in Canada, Mexico, the United States, Turkey and added jurisdictions in which the Company may backpack on business in the future; added costs and risks accompanying to the abeyant appulse of altitude change; the costs and timing of architecture and development of new deposits; accident of accident due to sabotage, protests and added civilian disturbances; the appulse of all-around clamminess and acclaim availability and the ethics of assets and liabilities based on projected approaching banknote flows; and business opportunities that may be pursued by the Company.
For a added abundant altercation of such risks and added factors that may affect the Company’s adeptness to accomplish the expectations set alternating in the advanced statements independent in this account release, see the Company’s latest 40-F/Annual Advice Anatomy and Management’s Altercation and Analysis, anniversary beneath the branch “Risk Factors” accessible on the SEDAR website at www.sedar.com or on EDGAR at www.sec.gov. The above should be advised in affiliation with the advice begin in this account release.
The Company disclaims any ambition or obligation to amend or alter any advanced statement, whether accounting or oral, or whether as a aftereffect of new information, approaching contest or otherwise, except as appropriate by applicative law.
Cautionary Note to U.S. Investors – Mineral Assets and Ability Estimates
All ability and assets estimates included in this account absolution acquire been able in accordance with Canadian Civic Instrument 43-101 – Standards of Acknowledgment for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as adapted (the “CIM Standards”). NI 43-101 is a aphorism developed by the Canadian Balance Administrators, which accustomed standards for all accessible acknowledgment an issuer makes of accurate and abstruse advice apropos mineral projects. The agreement “Mineral Reserve”, “Proven Mineral Reserve” and “Probable Mineral Reserve” are Canadian mining agreement as authentic in accordance with NI 43-101 and the CIM Standards. Investors are cautioned not to accept that all or any allotment of mineral deposits in these categories will anytime be adapted into reserves. “Inferred Mineral Resources” acquire a abundant bulk of ambiguity as to their existence, and abundant ambiguity as to their bread-and-butter and acknowledged feasibility. It cannot be affected that all or any allotment of an Inferred Mineral Ability will anytime be upgraded to a college category. Beneath Canadian rules, estimates of Inferred Mineral Resources may not anatomy the base of achievability or pre-feasibility studies, except in actual bound circumstances. Investors are cautioned not to accept that all or any allotment of an Inferred Mineral Ability exists or is economically or accurately mineable. Acknowledgment of “contained ounces” in a Mineral Ability is acceptable acknowledgment beneath Canadian regulations.
Table 1: Island Gold – Ahead Unreleased Select Blended Intervals from Apparent and Underground Directional Appraisal Drilling
Composite intervals greater than 3 g/t Au abounding average, capping values:Island East @ 185 g/t Au.
Table 2: Island Gold – Ahead Unreleased Select Blended Intervals from Underground Appraisal Drilling
Composite intervals greater than 3 g/t Au abounding average, capping values:Island East @ 185 g/t Au.
Table 3: Apparent and underground directional assignment holes; azimuth, dip, accomplished length, and collar area at apparent (UTM NAD83)
Note: UTM abundance apparent acclivity 382 m
Table 4: UG Appraisal assignment holes; azimuth, dip, accomplished length, and collar area at apparent (UTM NAD83).
Note: UTM abundance apparent acclivity 382 m
Figure 1: Island Gold Abundance Longitudinal is accessible at:https://www.globenewswire.com/NewsRoom/AttachmentNg/cfdbd081-4f7b-4a22-9c8d-ea96f837fe26
Figure 2: Island Gold Abundance East Breadth Abundant Longitudinal – Apparent Directional Conduct Results is accessible at:https://www.globenewswire.com/NewsRoom/AttachmentNg/11670b92-9c85-4189-a9c0-a3989d133d6d
Figure 3: Island Gold Abundance East Breadth Abundant Longitudinal – Underground Conduct Results is accessible at:https://www.globenewswire.com/NewsRoom/AttachmentNg/c014af72-9c94-4ca9-bc62-818f4b5318cf
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