The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Alamos Gold Reports 1.60 g/t of Gold Over 186 Metres at Camyurt

Thursday, June 16, 2011

Alamos Gold Reports 1.60 g/t of Gold Over 186 Metres at Camyurt06:00 EDT Thursday, June 16, 2011TORONTO, ONTARIO--(Marketwire - June 16, 2011) - Alamos Gold Inc. (TSX:AGI) ("Alamos" or the "Company") reports recent drill results from its ongoing Camyurt exploration project in Turkey. The Company believes that Camyurt has demonstrated the potential to develop into a stand-alone project.The Camyurt project is located approximately three kilometres ("km") southeast of the Company's development-stage Agi Dagi project. To-date in 2011, the Company has completed approximately 3,400 metres ("m") of a planned 10,000 m drill program at Camyurt.Notable assay results from recent drilling include:•11-CYD-12A 131.1 m at 0.91 grams of gold per tonne ("g/t Au") •11-CYD-14 185.7 m at 1.60 g/t Au •11-CYD-15 36.4 m at 1.50 g/t Au •11-CYD-15A 37.4 m at 1.42 g/t Au •11-CYD-17 176.5 m at 1.38 g/t Au •11-CYD-19 46.6 m at 1.08 g/t Au •11-CYD-20 89.6 m at 2.34 g/t Au The drill-hole locations are displayed in Figure 1, with relevant assay results presented in Table 1 at the end of this press release.The drill results highlighted above, along with the previously released results, demonstrate that the Camyurt mineralized zone is continuous for at least 700 m along strike and is mineralized to a vertical depth of at least 200 m. The mineralized zone remains open at depth and the Company has identified another 600 m of potential southwest strike extension that is presently being drill-tested. Assays for holes 21 through 24, intended to test a portion of this strike extension, are expected to be received within a month.Recent drill holes, some of which twin historic holes, show systematic improvement in grade compared to their historic counterparts, principally a result of improved core recovery. Alamos' average core recovery at Camyurt is 84%, while the average core recovery by previous operators was 64%. Reported thicknesses significantly exceed historic holes, with down-hole thickness of up to 180 m. All the reported intervals represent oxidized mineralization, except for a few minor intervals of sulphide near the end of the deeper holes.The Company currently has two core drill rigs operating at the site. An initial resource estimate at Camyurt is planned to be included as part of the Company's year-end 2011 global resource and reserve statement in the first quarter of 2012.Turkey Exploration General UpdateTo-date in 2011, the Company has completed more than 11,700 m of drilling in Turkey. The 30,000 m program is primarily focused on infill and extension drilling of known zones of mineralization at Agi Dagi, Kirazli, and Camyurt. The Company plans to provide an updated mineral resource estimate for the Agi Dagi and Kirazli deposits during the third quarter of 2011.QA/QC ProgramsAgi Dagi and Kirazli exploration programs are conducted under the supervision of Dominique Fournier, B.Sc. Geology, PhD. Geology, Registered Professional Geologist, and Alamos' Turkey Exploration Manager. 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 3.0 g/t Au. Composites presented in the assay results tables include intervals at >0.2 g/t Au over a 3-m minimum width; no assays are cut unless indicated.About AlamosAlamos is an established Canadian-based gold producer that owns and operates the Mulatos Mine in Mexico, and has exploration and development activities in Mexico and Turkey. The Company employs nearly 500 people in Mexico and Turkey and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighbouring communities. Alamos has over $195 million cash on hand, is debt-free, and unhedged to the price of gold. As of May 31, 2011, Alamos had 116,978,006 common shares outstanding (125,254,906 shares fully diluted), which are traded on the Toronto Stock Exchange under the symbol "AGI".To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/agi0616fig1.pdf.To view Table 1, please visit the following link: http://media3.marketwire.com/docs/agi0616table.pdf.FOR FURTHER INFORMATION PLEASE CONTACT: John A. McCluskeyAlamos Gold Inc.President and Chief Executive Officer(416) 368-9932ORJamie PorterAlamos Gold Inc.Chief Financial Officer(416) 368-9932 x 205The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.