Minera Alamos Provides Mid-Year Construction Update at the Santana Gold Project, Sonora, Mexico; Adds Further Technical Expertise to the Board
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - July 15, 2020) - Minera Alamos Inc. (TSXV: MAI) (the "Company" or "Minera Alamos") is pleased to provide a mid-year construction update detailing progress at the Santana gold project, Sonora, Mexico.
- The heap leach pad area has been cleared of all vegetation and is undergoing contouring ahead of clay placement and the pad liner installation
- The completed explosive storage & detonator bunkers are awaiting final inspection from the Mexican authorities ahead of the explosive permit issuance
- Bypass road construction at either end of the heap leach pad area is underway
- Fabrication of the plant carbon columns is complete with work underway for the remaining plant steel structures
- The earthworks contractor selected has worked previously with the Minera Alamos team when they were building the El Castillo mine in Durango
"Construction at the Santana gold project has taken some significant strides since activities were allowed to restart at the beginning of June. Work continues on the heap leach pad area, which represents the most significant aspect of earthworks during construction, Minera has now placed most long lead time orders for the next phase of construction activities. The project site is quickly taking shape and we remain on track for construction to conclude around the end of the year," stated Darren Koningen, CEO of Minera Alamos. "We are also pleased to appoint and welcome Kevin Small to the Board of Directors. The appointment of Mr. Small expands the board to three independent directors and further strengthens the technical and operational experience of the Minera team."
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Appointment of Director
Minera is pleased to announce the appointment of Mr. Kevin Small P.Eng to the Board of Directors of the Company. Mr. Small is currently President and CEO of Jerritt Canyon Gold (100% owned by Sprott Mining Inc.) where he is responsible for the day to day operations of a 4,000 tpd Roaster and CIL plant producing between 120,000 oz and 160,000 oz of gold annually. Elsewhere at Jerritt Canyon he is responsible for the day to day operation of two underground mines and advanced exploration both from surface and underground.
Throughout his 30-year career, Mr. Small has brought his innovative and strategic-thinking as an operations leader to numerous mine operations and start-up projects. Most recently, this work has included Director of Mine Operations at the Beta Hunt mine in Western Australia owned by Karora Resources Inc. (formerly RNC Minerals); Mine Manager at the East Timmins operations (Taylor mine) of Kirkland Lake Gold; and Superintendent of Technical Services at St Andrews Goldfields.
Minera Alamos is delighted to strengthen its strong technical board with an exceptional Mining Engineer of Mr. Small's calibre and look forward to benefitting from his considerable experience and expertise.
The Board of Directors of Minera Alamos has approved the issuance of a total of 750,000 options to a Director and a Consultant pursuant to its stock option plan. The options, which vest immediately, are exercisable at a price of $0.54 and expire in five years.
Mr. Darren Koningen, P. Eng., Minera Alamos' CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101. Mr. Koningen has supervised the preparation of, and has approved the scientific and technical disclosures in, this news release.
For Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Victoria Vargas de Szarzynski, VP Investor Relations
About Minera Alamos Inc.
Minera Alamos is a gold development company poised to join the ranks of gold producers in 2021. The Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach development project in Sonora that is currently under construction, and which is expected to have its first gold production in early 2021. The La Fortuna open pit gold project in Durango (100%-owned) has an extremely robust and positive preliminary economic assessment (PEA) completed and is nearing the end of the permitting process. A construction decision on La Fortuna could be made in late 2020 or early 2021 and highlights the organic growth the existing projects can provide to the overall production profile. Minera Alamos is built around its operating team that together brought 3 mines into production over the last 12 years.
The Company's strategy is to develop low capex assets while expanding the project resources and pursue complementary strategic acquisitions.
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