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Alamos Gold Inc.
Summary
| Project: | Mulatos | |
|---|---|---|
| Deposit: | La Yaqui | |
| Location: | Mexico | |
| Commodities: | Gold | |
| Date: | 11/10/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 10-11-2016: Alamos Gold Inc. announces an Exploration/Drilling Update report for its La Yaqui deposit at the Mulatos project. Drilling results incl. 76.00m @ 4.37g/t Au from 59.90m. Toronto, Ontario (November 10, 2016) - Alamos Gold Inc. (TSX:AGI; NYSE:AG | |
| Resources: | (Not mentioned in this report) | |
| CP/QP: | [Overall Report]: Chris Bostwick, Aoife McGrath (Internal) | |
| ABSTRACT: | Toronto, Ontario (November 10, 2016) - Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today reported its financial results for the third quarter ended September 30, 2016 and reviewed its operating, exploration and development activities. “All three of our mines performed well in the third quarter driving our strongest operating and financial results thus far this year. Production increased to 99,228 ounces of gold while all-in sustaining costs fell to $979 per ounce. Our operations continued to generate positive free cash flow and at current gold prices we expect strong free cash flow growth in the fourth quarter and into 2017. We remain well positioned to meet our full year production, cost and capital guidance,” said John A. McCluskey, President and Chief Executive Officer. “We’ve had a very successful year at La Yaqui having announced a near doubling of the resource in September and receiving EIA approval for Phase I development of the project in October. With an ambitious ongoing exploration program, a large portion of La Yaqui still to be explored and several other similarly attractive targets across the Mulatos District, we look forward to delivering further exploration success,” Mr. McCluskey added. The Company’s core strategy in 2016 remains the ramp up of underground production at Young-Davidson and expanding and advancing development of the La Yaqui deposit at Mulatos. The Company made substantial progress towards achieving these objectives in the first nine months of 2016. In the third quarter, all three producing mines continued to generate free-cash flow. In addition, ongoing exploration success at La Yaqui resulted in a significant increase in combined mineral resources to nearly 450,000 ounces of gold in all categories as announced in September. In October, the Company received EIA approval for development of Phase I of the La Yaqui project. | |
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