Alamos Gold Inc. (TSX:AGI) announces results from its ongoing exploration program at its Agi Dagi project in northwestern Turkey.
The Company is also providing brief updates on its Kirazli, Çamyurt, and Rock Pile exploration projects.
Agi Dagi Exploration Update
Baba and Deli Zones
On the Agi Dagi land package, the Company has drilled more than 15,170 metres ("m") in 91 drill holes in the Baba and Deli deposits in 2010. Drilling initially focused on collecting representative samples for metallurgical and geotechnical testing purposes, but has shifted to infill drilling and drill-testing for extensions to known areas of mineralization.
Notable recent assay results include:
- 10AD377 53.6 m at 1.68 grams of gold per tonne ("g/t Au")
- 10AD387 31.3 m at 2.25 g/t Au
- 10AD388 28.9 m at 4.12 g/t Au
- 10AD392 62.4 m at 1.26 g/t Au
- 10AD393 42.0 m at 1.33 g/t Au
- 10AD393A 44.5 m at 1.11 g/t Au
- 10AD397 39.6 m at 1.38 g/t Au
- 10AD401 58.4 m at 1.11 g/t Au
- 10A403 96.0 m at 0.81 g/t Au
- 10A408 39.0 m at 1.32 g/t Au
Drilling continues to confirm expected grades and thicknesses, while the results from some holes, such as 10A408, 10AD393, and 10AD393A, have significantly exceeded expectations, with respect to grade relative to the current block model. Similarly, assay results that are from twins of holes drilled by previous operators continue to generally exceed historical results. The Company attributes this phenomenon to improved core recovery as the increases in grade for twinned holes are generally well correlated with zones having increased core recovery. Alamos' average core recovery is in excess of 85%, while the average core recovery by previous operators was 71%.
Drilling at Agi Dagi is ongoing with three core rigs and the Company will be providing an updated mineral resource estimate for the Deli and Baba deposits as part of its annual mineral reserve and resource update in the first quarter of 2011.
The Camyurt target is a separate zone of economic interest that is located about three kilometres southeast of the Baba deposit and is identified. The Company has received drill permits for its Camyurt project and is currently establishing drill access roads and pads.
In late 2007, previous operators drilled five wide-spaced core holes at Çamyurt over a strike distance of approximately 700 m. Although all holes had poor core recovery, and one was abandoned during drilling, a significant new discovery had been made. The Çamyurt zone remains open to the southwest, and there appears to be at least 800 m of untested strike length in favourable rock types for hosting gold mineralization that outcrop at surface.
The Company's initial 2,500 m drill program is expected to commence shortly with initial assays being reported during the first quarter of 2011. The drill program is primarily intended to drill-test for strike length extensions to known areas of gold mineralization.
Kirazli Exploration Update
Kirazli Main Zone
Drill permits for the Kirazli project were received in late August 2010 and a 5,000 m drilling commenced on August 29, 2010. The Company has drilled over 1,765 m in 13 drill holes at Kirazli and assays are pending. The Company has completed all of the required metallurgical and geotechnical drilling necessary for the PFS and exploration efforts at Kirazli are now focused on completing the infill and extension drilling with three core rigs.
The Company will be providing an updated mineral resource estimate for the Kirazli deposit as part of its annual mineral reserve and resource update in the first quarter of 2011.
Rock Pile Target
Rock Pile is an exploration target located approximately one kilometre west of the main resource area at Kirazli.
Previous operators collected 71 surface rock samples with an average grade of 3.8 g/t Au over an area covering 400 m by 100 m. Within that group of samples, 50 of the samples were associated with silica alteration and returned values above 1 g/t Au. Previous operators also completed an inverse polarization ("IP") survey that identified zones that may contain favourable host rocks for gold mineralization.
During the third quarter, Alamos' exploration team began conducting its own geological mapping and has identified several small old workings coincident with the soil and rock gold anomalies identified by previous operators. Rock Pile is a grass roots exploration target and has never been drill-tested. Drilling is planned to commence in the second quarter of 2011.
Agi Dagi and Kirazli exploration programs are conducted under the supervision of Dominique Fournier, B.Sc. Geology, PhD. Geology, Registered Professional Geologist, Alamos' Exploration Manager - Turkey. Mr. Fournier is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.
Strict sampling and QA/QC protocol are followed, including the insertion of standards, blanks, and duplicates on a regular basis. Sample intervals are usually 1.0 to 1.5 m. Agi Dagi samples are sent to Acme Analytical Laboratories in Ankara, Turkey for sample preparation and then to Vancouver, British Columbia, Canada or Santiago, Chile for analysis. Analytical method is fire assay with atomic adsorption finish and gravimetric finish for individual samples with a gold concentration greater than 5.0 g/t Au.
Source: Alamos Gold Inc.