Gold and Silver

Alamos receives permit for expansion of Island Gold mine

Alamos receives permit for expansion of Island Gold mine
Mining News Pro - Toronto-based Alamos Gold has received the amended permit for expansion of the Island Gold mine to 1,200 t/d from the provincial Ministry of the Environment, Conservation and Parks.
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According to Mining News Pro - The mine is located about 83 km northeast of Wawa, Ontario, Canada.

Alamos said the permit was received ahead of schedule. Underground mining rates are to reach 1,200 t/d in 2020, and the company is seeking ways to reach that level before the end of 2019.

The benefits of the phase two expansion are a production increase to 125,000 oz. per year and a lowering of the all-in sustaining costs to $550.

The company is also conducting a large ongoing exploration program that has already increased the resources at Island Gold. The mine has proven and probable reserves of 3 million tonnes grading 10.28 g/t gold. Measured and indicated resources are 969,000 tonnes at 8.77 g/t, and inferred resources are 4.2 million tonnes at 11.71 g/t gold. There are close to 2.8 million oz. of gold contained in all categories. A phase three expansion study is also underway.


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