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Alamos Gold ups reserves, resources at Island gold mine in Ontario

Alamos Gold Inc. said Sept. 5 that reserves at its Island gold mine in Ontario increased 8% to 959,000 ounces of gold contained in 2.8 million tonnes grading 10.7 g/t after mining depletion.

Measured and indicated resources rose 99% to 221,000 ounces of gold contained in 841,000 tonnes grading 8.18 g/t, exclusive of reserves, while inferred resources increased to 1.2 million ounces of gold contained in 3.7 million tonnes grading 9.99 g/t.

Data obtained from a 65,500-meter drill program during the first half was incorporated in the half-year update. A further 84,000 meters of surface and underground exploration and delineation drilling is budgeted for the second half as part of an US$18 million exploration program.

In May, Alamos raised its full-year production guidance to between 490,000 and 530,000 ounces due to stronger-than-expected performances at Island and at the Mulatos mine in Mexico.