Underground directional drilling at the Island West target extended high grade mineralization 50 metres below the nearest Inferred resource block and partially closed the 185-metre gap between two high grade inferred blocks. Hole 740-471-41 returned an uncut 31.58 g/t gold (38.74 g/t cut) over 2.43 metres.
Alamos has budgeted C$25 million for the 2021 exploration program at Island Gold, up from C$13 million in 2020. The goal is to continue definition of new near-mine resources across the 2-km long Main zone.
Guidance for 2021 at the Island Gold mine is 130,000 to 145,000 oz. of gold at an all-in sustaining cost of $750 to $800 per oz.
(This article first appeared in the Canadian Mining Journal)
