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Alamos overall gold reserves decline 8%, resources climb 12% in FY'15

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Alamos overall gold reserves decline 8%, resources climb 12% in FY'15

Alamos Gold Inc.on March 24 reported an 8% decline in its overall gold reserves and a 12% increasein its overall gold resources, for the year ended Dec. 31, 2015.

As of Dec. 31, 2015, the company reported total proven and probablereserves of 109.7 million tonnes grading 1.67 g/t of gold containing 5.88 millionounces of gold, representing a 5% decline in ounces and 3% decline in grading fromthe 2014 estimate.

The company attributed the decline to mining depletion at itsMexico-based Mulatosand El Chanate projects,which was partially offset by an increase in reserves at the Cerro Pelon and LaYaqui deposits at the Mulatos project as well as the Young-Davidson project in Ontario.

Alamos' total measured and indicated resources totaled 317 milliontonnes grading 1.07 g/t of gold containing 10.92 million ounces of gold. This representsa 20% increase in ounces and 7% increase in grading from 2014, driven by the additionof higher grade mineral resources from the Cerro Pelon deposit and project in Manitoba.

Total inferred resources came at 4.51 million ounces, up slightlyfrom 2014 with the combined grade increasing 23% and ounces increasing 1%, reflectingthe addition of higher-grade ounces from Lynn Lake and La Yaqui.