The mineral reserve grade increased slightly to 1.07 g/t Au, 34% above the 2015 budgeted grade for open pit, heap leach production. Mulatos open pit, heap leach mineral reserves (including the Mulatos Mine, stockpiles, Cerro Pelon and La Yaqui) decreased 12% from 2013 reflecting mining depletion. A detailed summary of Proven and Probable mineral reserves for the Mulatos Mine as of Decemis presented in Table 1 at the end of this press release. A $1,250 per ounce gold price assumption was used in estimating the 2014 mineral reserves, unchanged from 2013. However, the Company has budgeted $17 million in exploration spending at Mulatos in 2015 focusing on San Carlos and a renewed emphasis on delineating additional open pit mineral reserves within the Mulatos open pit and higher grade Cerro Pelon and La Yaqui satellite deposits. Limited drilling was conducted targeting open pit mineral reserves and resources within the Mulatos open pit in 2014. The focus of the 2014 exploration program was on production drilling at San Carlos underground to further define the 2015 production model. Proven and Probable mineral reserves at Mulatos decreased 15% to 1.73 million ounces at December 31, 2014, primarily reflecting mining depletion. MEASURED AND INDICATED MINERAL RESOURCES (exclusive of mineral reserves) Sold the El Realito concessions, a non-core portion of the large exploration package at Mulatos, for proceeds of US$7 million cash and a 2% net smelter returns royaltyĬommenced exploration activities at the Cerro Pelon satellite deposit Increased Measured and Indicated mineral resources by 3% to 6.85 million ounces of gold at various cut-off grades, driven by a 13% or 0.32 million ounce increase at the Mulatos open pit This will be a renewed exploration focus in 2015 Limited exploration targeting open pit mineral reserves was conducted in 2014.
Total Mulatos open pit, heap leach mineral reserves decreased 12% in terms of ounces, primarily reflecting depletion. Total Mulatos open pit, heap leach mineral reserve grade (including satellite deposits), increased 3% to 1.07 grams per tonne of gold ("g/t Au"), 34% above the 2015 budgeted open pit, heap leach grade
Proven and Probable mineral reserves at Mulatos of 1.73 million ounces of gold, which at current throughput rates, implies a remaining reserve life of approximately seven years For a detailed summary of mineral reserves and resources by project, refer to the table below. ( TSX:AGI)( NYSE:AGI) ("Alamos" or the "Company") today reported its updated mineral reserves and resources as of December 31, 2014. TORONTO, ONTARIO-(Marketwired - Mar 31, 2015) -Īll amounts are in United States dollars, unless otherwise stated.Īlamos Gold Inc.
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