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Resource Clips


Posts tagged ‘Alamos Gold Inc. (AGI)’

A head start

April 14th, 2016

Nickel One Resources builds on past work at western Ontario’s Tyko project

“Not too many properties come to you with two discoveries already drilled but never released,” says Nickel One Resources TSXV:NNN president/CEO Vance Loeber. “These results had never seen the light of day in a public company.”

He’s referring to the Tyko project in western Ontario’s Thunder Bay mining district, where Nickel One recently completed a program of confirmation drilling. Initial results have the company optimistic about its nickel-copper-PGM potential, and in particular about the possibility that two zones might be one.

Nickel One Resources builds on past work at western Ontario’s Tyko project

Still to come from Tyko are results from 10 more winter holes.

The project came to Nickel One with the advantage of two seasons of drilling by North American Palladium TSX:PDL back in 2006 and 2007. Focusing on its Lac des Iles operation and advanced projects in Ontario and Finland, the company let Tyko revert to its vendors, friends of Abraham Drost, now Nickel One’s chairperson.

Loeber and Drost had worked together in prominent roles on a number of projects including Sandspring Resources TSXV:SSP and Carlisle Goldfields, the latter taken over by Alamos Gold TSX:AGI earlier this year. Consequently Nickel One’s predecessor, Redline Resources, acquired the privately held Tyko Resources and its namesake project, then began trading as Nickel One at the end of February.

North American drilled 2,230 metres in 13 holes, finding mineralization in nine of them. Redline’s February 2015 43-101 technical report provides highlights from those two programs, including:

Hole TK-06-001 at the Tyko showing

  • 1.09% nickel, 0.76% copper, 0.42 ppm platinum and 0.42 ppm palladium over 4.15 metres, starting at 17.4 metres in downhole depth

TK-06-003 at the RJ showing

  • 1.06% nickel , 0.51% copper, 0.24 ppm platinum and 0.12 ppm palladium over 4.08 metres, starting at 63.92 metres

TK-06-005 at the RJ showing

  • 1.05% nickel, 0.46% copper, 0.2 ppm platinum and 0.12 ppm palladium over 6.2 metres, starting at 25 metres

True widths weren’t available.

Having raised $890,000 about a week after its February trading debut, Nickel One dispatched a rig to confirm the results. Assays for the first four holes came out April 12, with one near-surface interval from the RJ zone nearly matching the previous best grade while exceeding its width nearly four-fold—1.04% nickel over 16.19 metres.

That result appeared within a longer interval of 0.79% nickel over 44.12 metres:

  • 0.79% nickel, 0.3% copper, 0.01 ppm gold, 0.12 ppm platinum and 0.11 ppm palladium over 44.12 metres, starting at 52.75 metres in downhole depth

  • (including 1.04% nickel, 0.54% copper, 0.01 ppm gold, 0.12 ppm platinum and 0.12 ppm palladium over 8.25 metres

  • (which includes) 2.89% nickel, 0.45% copper, 0.01 ppm gold, 0.27 ppm platinum and 0.35 ppm palladium over 0.5 metres

  • (and including) 1.04% nickel, 0.23% copper, 0.15 ppm platinum and 0.12 ppm palladium over 16.19 metres

  • (which includes) 1.23% nickel, 0.26% copper,0.18 ppm platinum and 0.13 ppm palladium over 11.38 metres

  • (which includes) 1.97% nickel, 0.19% copper,0.17 ppm platinum and 0.12 ppm palladium over 1 metre

Again, true widths weren’t available. Results are pending for 10 more holes from the 14-hole, 1,780-metre program.

Summer drilling will test a theory that the RJ and Tyko zones, 1.5 kilometres apart, might be linked. The earlier drilling, magnetics, electromagnetics and IP surveys led to the 43-101’s conclusion that the property has been intruded by a mafic to ultramafic conduit that’s interpreted to be a feeder system. A “major structural flexure” between the RJ and Tyko zones coincides with anomalous nickel, copper and PGEs.

“The property shows many similarities with mafic to ultramafic feeder systems such as Voisey’s Bay in northern Labrador and Jinchaun in China,” the report states. “These deposits are characterised by magmatic sulphides collecting within the feeder of a large intrusive body due to variations in geometry that caused changes in flow dynamics such that immiscible sulphides were able to settle out and collect in structural traps.”

A concentration of immiscible sulphides is key to the formation of an economic nickel deposit, the report adds.

Having taken over the Nickel One helm just weeks ago, Loeber’s enthusiastic about renewing his collaboration with Drost and working with their new teammates. Among them is adviser Glenn Mullan, whose 35-year exploration/mining career includes his current role as president/CEO of Golden Valley Mines TSXV:GZZ. Director Scott Jobin-Bevans, with more than 22 years of exploration experience, wrote his PhD thesis on PGE mineralization in Ontario.

Accessible by logging roads and float plane, the 11,168-hectare property sits about 40 kilometres north of Hemlo and 28 kilometres southeast of the town of Manitouwadge, at the north end of Highway 614.

Anxious to get back, the company plans to resume drilling after spring breakup, Loeber says. Meanwhile the rig remains onsite, making it cheaper and quicker to renew the attack.

April 14th, 2015

SWOT analysis: Several gold companies release positive drilling results and production updates GoldSeek
AuRico and Alamos to become one in $1.5-billion deal Stockhouse
In a world filled with gluts, one metal is suddenly hard to find NAI 500
Disruptive stock watcher Chris Berry cautions investors about the real potential of deflation Streetwise Reports
Cuba awakening: What the country has to offer mining investors Industrial Minerals
U.S. Labor Department, ADP admit: “We’ve just been making this up” Equities Canada
Great deposits of the world—Hishikari, Japan Geology for Investors

April 13th, 2015

SWOT analysis: Several gold companies release positive drilling results and production updates GoldSeek
AuRico and Alamos to become one in $1.5-billion deal Stockhouse
In a world filled with gluts, one metal is suddenly hard to find NAI 500
Disruptive stock watcher Chris Berry cautions investors about the real potential of deflation Streetwise Reports
Cuba awakening: What the country has to offer mining investors Industrial Minerals
U.S. Labor Department, ADP admit: “We’ve just been making this up” Equities Canada
Great deposits of the world—Hishikari, Japan Geology for Investors

Alamos reports Mexico Gold Results as high as 6.43 g/t over 35.1m

March 27th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAlamos Gold Inc TSX:AGI announced assays from El Victor North Deposit of its Mulatos Project in Sonora State, Mexico. Results include

6.43 g/t gold over 35.1 metres
(including 17.98 g/t over 10.7 metres)
1.96 g/t over 71.6 metres
1.45 g/t over 82.3 metres
(including 15.45 g/t over 1.5 metres)
1.17 g/t over 62.5 metres
1.32 g/t over 36.6 metres
0.92 g/t over 30.5 metres
1 g/t over 21.3 metres

Mulatos has a December 2011 measured and indicated resource estimate of 2.77 million gold ounces and an inferred estimate of 510,000 gold ounces using a 0.5 g/t cutoff.

View Company Profile

Contact:
John A. McCluskey
President/CEO
416.368.9932

or Allan Candelario
Investor Relations
416.368.9932 x 406

by Greg Klein

Alamos reports Mexico Gold Assays as high as 4.98 g/t over 50.3m

February 27th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAlamos Gold Inc TSX:AGI announced assays from the El Victor North area of its Mulatos Mine in Sonora State, Mexico. Results include

1.71 g/t gold over 44.2 metres
4.98 g/t over 50.3 metres
2.61 g/t over 44.2 metres
1.59 g/t over 45.7 metres
1.98 g/t over 54.6 metres
2.4 g/t over 59.5 metres
4.72 g/t over 45.7 metres
1.78 g/t over 29 metres
1.53 g/t over 53.4 metres
2.58 g/t over 59.5 metres
4.27 g/t over 16.8 metres

The Mulatos Mine has an NI 43-101 mineral resource estimate of 2.75 million ounces gold measured and indicated, and 508,048 ounces inferred. The project has proven and probable reserves of 2.39 million ounces.

View Company Profile

Contact:
John A. McCluskey
President/CEO
416.368.99321

or Allan Candelario
Investor Relations
416.368.9932 x 406

by Ted Niles

North of Two Million

July 11th, 2011

North Country Gold Meets Nunavut’s Challenges

By Ted Niles

Brian Budd freely acknowledges that building a mine in Nunavut won’t be easy. “Nunavut is very remote,” says North Country Gold’s VP of Corporate Development, “and the North is tough to do business in.” But, he adds, “Look at Meadowbank; it’s been done.”

Budd is referring to Agnico-Eagle’s Meadowbank Mine, located 180 kilometres southwest of North Country’s Three Bluffs deposit. Meadowbank started commercial production in March 2010, and in 1Q 2011 produced 61,737 ounces of gold at its 8,500-tonne-per-day processing plant. “The territory is very mining friendly, and I think that they’re open to bringing in more infrastructure,” says Budd, noting that the Manitoba and Nunavut governments have made commitments towards the construction of an all-weather road connecting the province and territory. A recent cost-benefit analysis of the project indicated that the Nunavut economy could gain in the range of $400 million thereby.

North Country Gold Meets Nunavut's Challenges

North Country’s Three Bluffs gold project consists of 229,457 hectares and is situated on the Walker Lake Trend of the Committee Bay Greenstone Belt—the only such belt not owned by a major mining company. The property has an NI 43-101 compliant resource estimate of 508,000 ounces gold indicated and 244,600 ounces inferred, both at an average grade of 6 grams per tonne. “We’ve got gold in iron-band formation, we’re seeing it in greywackes, and there’s lots of visible gold within the core,” remarks Budd. “We believe we’ve got an archean deposit; it’s a very similar geology to Agnico’s Meadowbank and Meliadine projects.”

He continues, “The goal of last year’s and this year’s drilling is to increase our ounces. We’d like to get them up to our target of over two million ounces by the end of 2011. We’ve got a $25-million program scheduled for this year, and we’re targeting [from] 20,000 to 50,000 metres.”

Assay results of July 6 include 43.02 g/t gold over 4 metres, 2.24 g/t over 28.2 metres, 7.36 g/t over 11.3 metres, 1.25 g/t over 54.6 metres, 2.45 g/t over 27 metres, 7.34 g/t over 25 metres (including 28.71 g/t over 5.9 metres), 2.31 g/t over 33 metres, 8.06 g/t over 30.5 metres (including 18.71 g/t over 10.7 metres) and 2.2 g/t over 16.8 metres.

Budd comments, “We think these results are fantastic. We had great widths; two really wide intercepts in there. Not only that, we had some high-grade gold as well. Very consistent to what we’ve been seeing. The total strike length is 4.2 kilometres, and the goal there is to basically drill that all off this year. The 750,000 ounces that we have right now is only sitting in about a one-kilometre strike. So there’s a lot of upside. And it’s shallow too. The deepest hole we have is 320 metres, and we hit 46 g/t over 4 metres. Right now all the holes are about 150 to 200 metres. We’re totally open to depth and open to strike.” North Country expects to have an updated resource estimate completed by 1Q 2012.

The 750,000 ounces that we have right now are only sitting in about a one-kilometre strike. So there’s a lot of upside. And it’s shallow too —Brian Budd

As with any junior in possession of promising property and within easy distance of a producer, Budd recognizes that if the right offer were to come along, the shareholder’s interests would take priority. But he notes that North Country’s CEO, John Williamson, has already taken a number of properties to production. Budd explains, “Part of our $25-million program this year is getting ready to file a project description. The project description basically entails ticking off all the boxes to potentially take it to production. As we go along we’re always looking at whether we’re economic, always looking at doing those studies internally.”

“Right now,” he adds, “the goal is to get the ounces up. And if we get them north of two million, that’s definitely going to pique the interest of majors. Meadowbank got bought out at 3.6 million ounces.”

North Country has 97 million shares trading at $1.60 for a market cap of $155.1 million. The company also holds a 100% interest in three other projects on the Walker Lake Trend—Three Bluffs West, Antler and Hayes—all believed to be contiguous with the Three Bluffs deposit.

“I think things have been going quite well,” Budd concludes. “We did have an Achilles’ heel on the project: access to water. However we put in a heated water system this year, so that has removed the challenge. And we thought we wouldn’t start drilling until May, but we were able to get in in April. That started us off with a bang, and it’s just been progressing from there.”

Alamos CFO Jamie Porter on Turkey assays of 1.6 g/t gold over 185.7m

June 20th, 2011

“We acquired two Turkish development-stage projects from Teck Resources back in January 2010. And those two projects are called the Ağı Dağı and Kirazlı projects. They’re the subject of a scoping study [preliminary economic assessment] that we did in March of last year. We’re in the process of doing a prefeasibility study on each of those, submitting an EIA [environmental impact assessment] and hoping to get them permitted into production for 2013.

“One of the more advanced-stage exploration projects in close proximity to Ağı Dağı and Kirazlı was this Camyurt zone. The previous operators had put six drill holes into it. We basically did a program to verify what they had done, and now we’re in the process of a 10,000-metre drill program. We’re about 40% of the way through it. The release today speaks for itself, giving some of the better results we’ve encountered to date. For the rest of the year we’re looking to finish this 10,000-metre drill program that we started in March.

We’ll finalize our prefeasibility in the fourth quarter of this year, and we’re expecting to start production in early 2013. —Jamie Porter

“The expectation for the Ağı Dağı and Kirazlı projects is that we get our EIA approved in the third quarter of this year. We’ll finalize our prefeasibility in the fourth quarter of this year, and we’re expecting to start production in early 2013. The Chamyurt project, we expect, will be a standalone project. The idea is that we will do a resource estimate as part of our 2011 yearend update. So it would be probably March 2012 that we release our preliminary resource estimate at Chamyurt. The results of that would indicate whether we proceed to a scoping study or prefeasibility study. What our press release today is telling us is that there’s the potential for this to be a standalone project. Of course, none of the economic metrics have been run on it yet, because it’s just too early-stage. But the assessment is definitely positive for Chamyurt.

“We’re producing about 150,000 ounces gold annually right now in Mexico. Starting next year, we’re adding production from a high-grade mill, in Mexico as well, that should add at least another 70,000 ounces. So we’ll be in the low to mid 200,000 ounce range. And Turkey is coming on line 2013, and that’s expected to get us up into the 300,000 range. So from a production perspective, there’s a lot of growth in the next two years.”

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