The
Previously, the Company targeted the near surface depth extension of relatively small areas of the very extensive EL Cristo vein system. The program consisted of 28 scout drill holes designed to test the near surface depth extension of select veins over at least 2 km of strike extension. Silver-base metal mineralization was intercepted in 22 out of 28 drilled holes — consistent with the veins being the strike NW extension of the
The Company’s petrographic study has confirmed that most holes intercepted oxidized vein material — meaning the upper parts of the veins where downward percolating rainwater has resulted in breakdown of primary sulphide minerals to iron oxides and secondary silver-lead-zinc minerals. The depth of oxide-sulphide transition is irregular but appears to extend between 70 to 110 m from surface. Typically, there is a leaching of metal content in oxidized veins.
Deeper intercepts in unoxidized sulphidic veins reported higher silver equivalent grades. For example, hole CRI-2022-022 intercepted 0.65 m of quartz sulphide vein which assayed 829 g/t Ag Eq (565 g/t Ag, 1.2 g/t Au, 2.7 % Zn and 1.3 % Pb) from 55.15 meters in hole (see news release dated
Based on the recent petrographic work, the Company will be applying for drill pad permits in the three areas highlighted green in Figure 1, in order to test the deeper parts of the veins beneath the current level of oxidation. Grade appears to be increasing at depth and these targets are believed to represent low risk high reward targets. The EL Cristo vein system is open in all directions and is a very large and significant exploration target. Drill permitting is expected to take between 6 to 8 weeks.
Figure 1: Map of
The Company’s news release dated
Qualified Person
The contents of this news release have been reviewed and approved by
About
The Company has two key projects.
Esperanza is an advanced stage, attractive low-cost, low-capital-intensity and low-technical-risk growth project located in Morelos state, Mexico. Alamos has progressed the project through advanced engineering, including metallurgical work, while also focusing on stakeholder engagement, including building community relations. The Company announced a Mineral Resource Estimate at Esperanza consisting of a Measured and Indicated Mineral Resource Estimate of 30.5 million tonnes at 0.97 g/t AuEq for 956 thousand ounces AuEq and an Inferred Mineral Resource estimate of 8.7 million tonnes at 0.98 g/t AuEq for 277 thousand ounces AuEq (see news release dated
The property is 25 kilometres (km) southeast of MAG Silver Corp.'s
On behalf of the Company
Chief Executive Officer and Director
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance.
Neither
For further information:
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/35a51f23-a107-4b0b-9888-27dbad25cf44
Figure 1
Map of El Cristo showing Zacatecas’ drill hole traces in blue. Historical drill hole traces are also shown (black). The base of the map is a grey scale digital elevation model.
2024 GlobeNewswire, Inc., source