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Be the first with the news that moves the market- Minera Alamos (TSXV:MAI) has expanded mineralization at the Santana gold project in Mexico
- During a recent phase two drill program the company intersected 202.7 metres of gold at 0.51 grams per tonne
- The result confirms the mineralization on the site at previously untested depths
- Furthermore, a second hole from the program has extended the site’s Nicho mineralization by 100 metres to the southwest of previous drilling efforts
- The company has also finalised plans for its upcoming phase three drill program, which will drill a further 7,500 metres at the site
- Minera Alamos (MAI) is up 5.6 per cent and is trading at C$0.47 per share
Minera Alamos (TSXV:MAI) has expand mineralization at the Santana gold project in Sonora, Mexico.
The news comes alongside additional assay results from the site’s recent phase two drilling program. Notably, Minera intersected 0.51 grams per tonne gold across 202.7 metres.
The result confirms mineralization on the site at previously untested depths.
Furthermore, a second hole from the program has extended the site’s Nicho mineralization by 100 metres to the southwest of previous drilling efforts.
Phase two exploration at the site was completed over the past year, following up from the company’s maiden drilling program in 2018 and 2019.
The program was focused on outlining the northern border of the Nicho main zone and evaluating potential mineralization extensions to the south and southwest.
Darren Koningen, CEO of Minera Alamos, thinks the program had been extremely successful and has demonstrated that the Nicho main zone has potential to expand significantly.
“We have extended the lateral extends of the mineralised zone by almost 150 metres from what was identified previously and to overall vertical depths beyond 200 meters.
“The mineralization appears to remain open in multiple directions as well as at depth,” he said.
The next step is the company’s phase three drill program, which is set to begin shortly, following COVID-19 restrictions easing in the region.
The program will drill up to 7,500 metres, focusing on the site’s Nicho and Divisadero zones, as well 15 to 20 holes planned at new targets.
Minera Alamos (MAI) is up 5.6 per cent and is trading at C$0.47 per share at 1:00 pm EDT.
