All amounts are in
These zones are located between 10 and up to 200 metres (“m”) south of existing infrastructure and Mineral Reserves and Resources, highlighting the upside potential with grades intersected well above the current Mineral Reserve grade of 2.31 grams per tonne of gold (“g/t Au”).
- Young-Davidson Hanging Wall Zones: high grade gold mineralization intersected within the hanging wall, in proximity to existing infrastructure and south of existing Mineral Reserves and Resources. This represents a new style of mineralization at
Young -Davidson , hosted in hanging wall stratigraphy including a folded sequence of Timiskaming assemblage conglomerates and sediments. Gold mineralization is associated with 3-20% pyrite and occurs both as wide, low- to moderate-grade mineralization, and also within narrower, high-grade structures (Figures 1 and 2). New highlights include1:- 9620-Level Drilling1
- 7.41 g/t Au over 22.00 m, including 15.84 g/t Au over 6.00 m (YMEX24-9620-143);
- 19.94 g/t Au over 4.55 m (YMEX24-9620-147);
- 21.86 g/t Au over 4.00 m (YMEX24-9620-147);
- 5.24 g/t Au over 9.00 m (YMEX24-9620-147);
- 9.07 g/t Au over 5.00 m (YMEX24-9620-137);
- 4.70 g/t Au over 10.00 m (YMEX24-9620-143);
- 17.55 g/t Au over 2.00 m (YMEX24-9620-142); and
- 4.13 g/t Au over 8.31 m (YMEX24-9620-141).
- 9500-Level Drilling1,2
- 10.73 g/t Au over 15.55 m (YM23-9500-107A).
- 9620-Level Drilling1
1 All reported composite intervals are core length and gold grades are reported as uncut. Based on initial review of core angles, true width is interpreted to be less than 50% of core length for some composites. Additional drilling and interpretation is ongoing to further define the geometry and extent of the mineralized zones.
2 YM23-9500-107A was drilled as a BQ-diameter definition drillhole, which was extended into the hanging wall. This hole was assayed using whole core at the Young Davidson on-site assay lab (see QA/QC section of Press Release).
“Young-Davidson is a consistent, long-life operation with a long-track record of Mineral Reserve replacement having maintained at least a 13-year Mineral Reserve life since 2011. With the deposit open at depth and to the west, we expect this track record to continue well into the future as we extend gold mineralization within the
New highlight intercepts can be found in Tables 1 and 2, and in Figures 1 and 2 at the end of this news release.
2024 Exploration Drilling Program – Young Davidson
A total of
The majority of the ongoing underground exploration drilling program will focus on extending mineralization within the
As of
Hanging Wall Gold Mineralization
An objective of the 2024 underground exploration drilling program is to test for gold mineralization in the hanging wall from a drill bay established on the 9620-level. This program is following up on gold mineralization that was intersected in surface drill holes completed between 2008 to 2010. These holes were collared south of
In addition, an underground definition drill hole completed from the 9500-level in the fourth quarter of 2023 intersected 10.73 g/t Au over 15.55 m (YM23-9500-107A) in a conglomerate, 93 m from the syenite-hosted Mineral Reserves and Resources. This definition hole had been extended into the hanging wall to test the potential for gold mineralization.
Following up on this intersection from the 9500-level definition drill hole (YM23-9500-107A), as well as underground mapping on the 9620-level, and the previous 2008-2010 surface drillhole intersections, underground exploration drilling commenced in the first quarter of 2024 from the 9620-level drill bay.
To date, 13 holes totalling 4,591 m have been completed from the 9620-level. New highlights include:
- 9620-Level
- 7.41 g/t Au over 22.00 m, including 15.84 g/t Au over 6.00 m (YMEX24-9620-143);
- 19.94 g/t Au over 4.55 m (YMEX24-9620-147);
- 1.02 g/t Au over 101.00 m (YMEX24-9620-136);
- 21.86 g/t Au over 4.00 m (YMEX24-9620-147);
- 5.24 g/t Au over 9.00 m (YMEX24-9620-147);
- 9.07 g/t Au over 5.00 m (YMEX24-9620-137);
- 4.70 g/t Au over 10.00 m (YMEX24-9620-143);
- 17.55 g/t Au over 2.00 m (YMEX24-9620-142);
- 4.13 g/t Au over 8.31 m (YMEX24-9620-141); and
- 1.75 g/t Au over 18.00 m (YMEX24-9620-144).
- 9500-Level
- 10.73 g/t Au over 15.55 m (YM23-9500-107A).
- 10.73 g/t Au over 15.55 m (YM23-9500-107A).
Drilling is now underway from a drilling pad established to the east of the initial drilling on the 9620-level to continue to test for gold mineralization in the hanging wall, with the objective of better defining the extent, geometry, and continuity of the high-grade mineralization. In addition, a core relogging and sampling program is expected to commence in the second quarter of 2024, with a focus on evaluating the historic surface drilling in the hanging wall that had undergone limited sampling.
Qualified Persons
Exploration programs at the
Quality Assurance and Quality Control
Access to the
Mine exploration core (NQ-diameter) is cut in half using an electric core saw equipped with a diamond tipped blade. One half of the core is placed into a plastic sample bag and sealed with zip ties in preparation for shipment. The other half of the core is returned to the core box and retained for future reference. The samples are placed in large heavy-duty nylon reinforced Fabrene bags, which are identified and sealed before being placed on pallets. The core samples are picked up at the mine site and mine samples are delivered to ALS laboratories, located in
Gold is analyzed by a 30 gram fire assay with an Atomic Absorption (AA) finish. Mine exploration samples greater than 8.0 g/t Au are re-analyzed using gravimetric finish methods. ALS is a certified laboratory and has an internal quality control (“QC”) program that includes insertion of reagent blanks, reference materials, and pulp duplicates.
The Corporation inserts QC samples (blanks and reference materials) at regular intervals to monitor laboratory performance.
Underground definition drill core (BQ-diameter) is assayed using whole core samples at the
The Young-Davidson Mine QA/QC procedures described in detail in the
About Alamos
Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in
FOR FURTHER INFORMATION, PLEASE CONTACT:
Senior Vice President, Investor Relations | |
(416) 368-9932 x 5439 | |
The TSX and NYSE have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note
This news release includes certain statements that constitute forward-looking information within the meaning of applicable Canadian and
Such statements in this news release include, without limitation, statements with respect to planned exploration programs, focuses, strategies, drilling targets and work, potential for further exploration of certain areas, potential drilling results and related expectations, costs, budgets and expenditures, including with respect to the cost of development and production, project economics, gold price assumptions, potential mineralization, projected ore grades Mineral Reserves and Resources, mine life, expectations that the Company’s long track record of Reserve replacement will continue, ongoing extension of gold mineralization within the
Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of Mineral Resource. A Mineral Resource that is classified as "inferred" or "indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "Indicated Mineral Resource" or "Inferred Mineral Resource" will ever be upgraded to a higher category of Mineral Resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into Proven and Probable Mineral Reserves.
Alamos cautions that forward-looking statements are necessarily based upon several factors and assumptions that, while considered reasonable by management at the time of making such statements, are inherently subject to significant business, economic, technical, legal, political and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information.
These factors and assumptions include, but are not limited to: the actual results of current exploration activities, conclusions of economic and geological evaluations, changes in project parameters as plans continue to be refined, operations may be exposed to illness, disease, epidemic or pandemic which may impact, among other things, the broader market; state and federal orders or mandates (including with respect to mining operations generally or auxiliary businesses or services required for the Company’s operations) in
For a more detailed discussion of such risks and other factors that may affect the Company's ability to achieve the expectations set forth in the forward-looking statements contained in this news release, see the Company’s latest 40-F/Annual Information Form and Management’s Discussion and Analysis, each under the heading “Risk Factors”, available on the SEDAR+ website at www.sedarplus.ca or on EDGAR at www.sec.gov. The foregoing should be reviewed in conjunction with the information and risk factors and assumptions found in this news release.
The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether written or oral, or whether as a result of new information, future events or otherwise, except as required by applicable law.
Note to U.S. Investors – Mineral Reserve and Resource Estimates
Unless otherwise indicated, all Mineral Resource and Mineral Reserve estimates included in this news release have been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) and the
Investors are cautioned that while the above terms are “substantially similar” to CIM Definitions, there are differences in the definitions under Regulation S-K 1300 and the CIM Standards. Accordingly, there is no assurance any mineral reserves or mineral resources that the Company may report as “proven mineral reserves”, “probable mineral reserves”, “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” under NI 43-101 would be the same had the Company prepared the mineral reserve or mineral resource estimates under the standards adopted under Regulation S-K 1300. U.S. investors are also cautioned that while the
Table 1:
Weighted average composite intervals greater than 30 g*m
All reported composite intervals are core length and gold grades are reported as uncut. Based on initial review of core angles, true width is interpreted to be less than 50% of core length for some composites. Additional drilling and interpretation is ongoing to further define the geometry and extent of the mineralized zones.
Gold composites are generated using a 1.2 g/t Au cut-off and include no more than 2.0 m of consecutive internal waste.
Note that the gold composite reported for drill hole YMEX24-9620-136 is generated using a 0.5 g/t Au cut-off and includes no more than 8.0 m of consecutive internal waste given the wide, lower-grade extent of gold mineralization.
Hole ID | Including | From (m) | To (m) | Core Length (m) | Au Uncut (g/t) | Vertical |
Depth from | ||||||
Surface (m) | ||||||
YMEX24-9620-136 | 60.00 | 161.00 | 101.00 | 1.02 | 536 | |
YMEX24-9620-137 | 178.00 | 183.00 | 5.00 | 9.07 | 605 | |
YMEX24-9620-141 | 57.69 | 66.00 | 8.31 | 4.13 | 540 | |
YMEX24-9620-142 | 247.00 | 249.00 | 2.00 | 17.55 | 660 | |
YMEX24-9620-143 | 25.00 | 35.00 | 10.00 | 4.70 | 540 | |
41.00 | 63.00 | 22.00 | 7.41 | 555 | ||
Including | 41.00 | 47.00 | 6.00 | 15.84 | 555 | |
YMEX24-9620-144 | 51.00 | 69.00 | 18.00 | 1.75 | 569 | |
YMEX24-9620-147 | 17.00 | 26.00 | 9.00 | 5.24 | 533 | |
35.00 | 39.00 | 4.00 | 21.86 | 543 | ||
184.50 | 189.05 | 4.55 | 19.94 | 645 |
Table 2:
All reported composite intervals are core length and gold grades are reported as uncut. Based on initial review of core angles, true width is interpreted to be less than 50% of core length. Additional drilling and interpretation is ongoing to further define the geometry and extent of the mineralized zones.
The gold composite was generated using a 1.2 g/t Au cut-off and includes no more than 1.5 m of consecutive internal waste.
Definition drilling was completed with BQ-diameter core. This hole was assayed using whole core at the Young Davidson on-site assay lab.
Hole ID | From (m) | To (m) | Core | Au Uncut (g/t) | Vertical Depth |
Length | from Surface | ||||
(m) | (m) | ||||
YM23-9500-107A | 307.92 | 323.47 | 15.55 | 10.73 | 673 |
Table 3: Underground Drill Holes, 9620 and 9500-Level; Azimuth, Dip, Drilled Length, and Collar Location (UTM NAD83).
Hole ID | Azimuth (°) | Dip (°) | Drilled | UTM Easting (m) | UTM Northing (m) | UTM Elevation (m) |
Length | ||||||
(m) | ||||||
YMEX24-9620-136 | 164.5 | -9.5 | 699.0 | 523055 | 5310195 | -368 |
YMEX24-9620-137 | 164.5 | -29.5 | 234.0 | 523055 | 5310194 | -369 |
YMEX24-9620-138 | 164.5 | -42.0 | 273.0 | 523055 | 5310195 | -369 |
YMEX24-9620-139 | 164.5 | -54.5 | 315.0 | 523055 | 5310195 | -369 |
YMEX24-9620-140 | 164.5 | 4.5 | 204.0 | 523055 | 5310194 | -368 |
YMEX24-9620-141 | 178.5 | -21.5 | 252.0 | 523054 | 5310195 | -369 |
YMEX24-9620-142 | 178.5 | -35.0 | 330.0 | 523054 | 5310195 | -369 |
YMEX24-9620-143 | 178.5 | -47.0 | 408.0 | 523054 | 5310195 | -370 |
YMEX24-9620-144 | 178.5 | -62.5 | 321.0 | 523054 | 5310195 | -367 |
YMEX24-9620-145 | 192.5 | -5.0 | 291.7 | 523054 | 5310195 | -368 |
YMEX24-9620-146 | 192.5 | -25.0 | 315.0 | 523053 | 5310195 | -369 |
YMEX24-9620-147 | 192.5 | -43.5 | 561.0 | 523053 | 5310195 | -369 |
YMEX24-9620-154 | 178.5 | 14.0 | 387.0 | 523054 | 5310195 | -368 |
YM23-9500-107A | 182.5 | -7.0 | 357.0 | 523030 | 5310408 | -496 |
Note: UTM mine surface elevation 350 m
Figure 1: Young-Davidson Mine Composite Longitudinal – 9620-Level Exploration Area
Figure 2: Young-Davidson Mine Cross Section – 9620 & 9500-Level Exploration Drill Holes & Significant Composites
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/379a676d-a2f2-48db-8c9d-0995caa01d18
https://www.globenewswire.com/NewsRoom/AttachmentNg/8f8ef39b-a083-4c8c-ad07-3227c904df94
Figure 1 Young-Davidson Mine Composite Longitudinal – 9620-Level Exploration Area
Figure 1 Young-Davidson Mine Composite Longitudinal – 9620-Level Exploration Area
Figure 2 Young-Davidson Mine Cross Section – 9620 & 9500-Level Exploration Drill Holes & Significant Composites
Figure 2 Young-Davidson Mine Cross Section – 9620 & 9500-Level Exploration Drill Holes & Significant Composites
2024 GlobeNewswire, Inc., source