EX-99.51 36 d467792dex9951.htm EX-99.51 EX-99.51

EXHIBIT 99.51

FOR IMMEDIATE RELEASE

 

LOGO

130 Adelaide Street West, Suite 2200

Toronto, Ontario M5H 3P5

Telephone: (416) 368-9932 or 1 (866) 788-8801

 

 

(All amounts are expressed in United States dollars, unless stated otherwise)

Monday February 27, 2012

Alamos Gold Reports 4.98 g/t of Gold Over 50 Metres at El Victor North

Toronto, Ontario - Alamos Gold Inc. (TSX: AGI) (“Alamos” or the “Company”) reports new impressive drill results from its El Victor North exploration program.

El Victor North area is an exploration target contiguous with and north of the current El Victor portion of the Mulatos pit. The El Victor North area and the northern planned pit wall were not drilled during the definition drilling of the El Victor reserve due to a surface access conflict. Access to El Victor North was granted in July 2011 after a twelve-year hiatus.

A total of 16,200 metres in 124 holes were drilled at El Victor and El Victor North in 2011, an additional 24 drill holes have been completed to date in 2012, and drilling is ongoing. Mineralization at El Victor North is the northwestern extension of El Victor reserve mineralization and is hosted by silica alteration identical to the El Victor deposit. The El Victor North area has over 300m of strike length, is up to 100m wide, remains open to the north, and has the potential to expand reserves along the northern boundary of the Escondida to El Victor trend. The top of the zone is located approximately 36m to 56m below surface. Recent drill results have indicated the potential to extend the El Victor pit north and west of the current pit design outline.

New, previously unreleased, results from 2011 and 2012 are highlighted below and continue to demonstrate the potential of this zone:

 

  •  

1.71 g/t Au over 44.2 metres (11EV150)

 

  •  

4.98 g/t Au over 50.3 metres (12EV173)

 

  •  

2.61 g/t Au over 44.2 metres (12EV176)

 

  •  

1.59 g/t Au over 45.7 metres (12EV182)

 

  •  

1.98 g/t Au over 54.6 metres (11VT037)

The Company recently reported highlights from the 2011 El Victor North drill campaign as follows:

 

  •  

2.40 g/t Au over 59.5 metres (11EV119)

 

  •  

4.72 g/t Au over 45.7 metres (11EV120)

 

  •  

1.78 g/t Au over 29.0 metres (11EV124)

 

  •  

1.53 g/t Au over 53.4 metres (11EV126)

 

  •  

2.58 g/t Au over 59.5 metres (11EV132)

 

  •  

4.27 g/t Au over 16.8 metres (11EV134)

Please refer to Figure 1 for a map of the Mulatos mine area, Figure 2 for the El Victor and El Victor North highlighted drill intercepts, and Figure 3 for all drill hole locations from recent drilling. Relevant assay results from the recent drilling at El Victor and El Victor North are presented in tables 1 and 2, for reverse circulation (“RC”) and core drilling, respectively, at the end of this press release.

 

1

TRADING SYMBOL: TSX:AGI

 

QA/QC Programs

Mulatos exploration programs are conducted under the supervision of Ken Balleweg, B.Sc. Geological Engineering, M.Sc. Geology, Registered Professional Geologist, Alamos’ Mexico Exploration Manager. Mr. Balleweg 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 0.5 to 1.5 m. Mulatos samples are sent to ALS Chemex Inc. in Hermosillo, Mexico for sample preparation and then to Vancouver, British Columbia, Canada 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. Composites presented in the assay results tables include intervals at >0.35 g/t over a 3-m minimum width with no assays cut, unless indicated.

About Alamos

Alamos 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 $240 million cash and short-term investments, is debt-free, and unhedged to the price of gold. As of February 21, 2012, Alamos had 119,114,006 common shares outstanding (124,788,706 shares fully diluted), which are traded on the Toronto Stock Exchange under the symbol “AGI”.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

John A. McCluskey   Allan Candelario
President and Chief Executive Officer   Investor Relations
(416) 368-9932   (416) 368-9932 x 406

 

 

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Note

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain “forward-looking statements”. All statements other than statements of historical fact included in this release, including without limitation statements regarding forecast gold production, gold grades, recoveries, waste-to-ore ratios, total cash costs, potential mineralization and reserves, exploration results, and future plans and objectives of Alamos, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.

 

 

2 | ALAMOS GOLD INC

TRADING SYMBOL: TSX:AGI

 

Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of mineral resource. A mineral resource which is classified as “inferred” or “indicated” has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an “indicated mineral resource” or “inferred mineral resource” will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements.

There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Alamos’ expectations include, among others, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold and silver, as well as those factors discussed in the section entitled “Risk Factors” in Alamos’ Annual Information Form. Although Alamos has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

 

 

3 | ALAMOS GOLD INC

TRADING SYMBOL: TSX:AGI

 

 

LOGO

Figure 1: Mulatos mine area

 

 

4 | ALAMOS GOLD INC

TRADING SYMBOL: TSX:AGI

 

 

LOGO

Figure 2: El Victor and El Victor North highlighted drill intercepts

 

 

5 | ALAMOS GOLD INC

TRADING SYMBOL: TSX:AGI

 

 

LOGO

Figure 3: El Victor and El Victor North drill hole locations from recent drilling

 

 

6 | ALAMOS GOLD INC

TRADING SYMBOL: TSX:AGI

 

Table 1: El Victor – Select Composite Intervals – Reverse Circulation Drilling1

Include intervals at >0.35 g/t Au over a 3 metres minimum width, no assay cut

 

DRILL

HOLE

    DRILLING
METHOD		   

TOTAL

DEPTH

(m)

   

FROM

(m)

   

TO

(m)

   

INT.

(m)

   

GOLD

(g/t)

11EV112

    RC    91.46    0.00    21.34    21.34    0.821

11EV113

    RC    157.01   

No

Intervals

               

11EV114

    RC    178.35    36.59    41.16    4.57    0.410
         121.95    125.00    3.05    0.470
         132.62    135.67    3.05    0.547
         138.72    163.11    24.39    0.645

11EV115

    RC    175.30    73.17    83.84    10.67    0.564
         89.94    106.71    16.77    0.575
         115.85    118.90    3.05    0.804
         135.67    146.34    10.67    0.856
         149.39    152.44    3.05    0.646

11EV116

    RC    91.46    4.57    10.67    6.10    0.539
         21.34    27.44    6.10    0.542

11EV117

    RC    60.98    0.00    36.59    36.59    1.694

11EV119

    RC    71.65    0.00    59.45    59.45    2.400
         Inc.30.49    33.54    3.05    10.075
         Inc.53.35    54.88    1.53    5.42
         68.60    71.65    3.05    1.376

11EV120

    RC    182.93    25.91    32.01    6.10    0.857
         57.93    106.71    48.78    1.341
         128.05    173.78    45.73    4.717
         Inc.132.62    144.82    12.20    13.556

11EV121

    RC    138.72    12.20    18.29    6.09    0.991
         22.87    30.49    7.62    0.627
         35.06    100.61    65.55    0.643

11EV122

    RC    121.95    9.15    13.72    4.57    0.687
         24.39    28.96    4.57    0.569
         38.11    42.68    4.57    0.579
         47.26    51.83    4.57    0.474
         56.45    65.55    9.15    0.594
         76.22    89.94    13.72    0.579
         106.71    118.90    12.19    1.414

11EV123

    RC    28.96    9.15    13.72    4.57    0.342
         19.82    22.87    3.05    4.451
         Inc.21.34    22.87    1.53    8.46
         25.91    28.96    3.05    2.432

11EV124

    RC    96.04    21.34    50.30    28.96    1.781
         Inc.41.16    42.68    1.52    8.91

11EV125

    RC    91.46    0.00    3.05    3.05    1.70
         6.10    12.20    6.10    0.483

11EV126

    RC    91.46    15.24    18.29    3.05    0.624
         22.87    76.22    53.35    1.533
         Inc.24.39    25.91    1.52    24.40

11EV127

    RC    91.46    0.00    7.62    7.62    1.205
         33.54    41.16    7.62    1.069
         45.73    68.60    22.87    0.520

11EV128

    RC    91.46    30.49    42.68    12.19    0.524

 

 

7 | ALAMOS GOLD INC

TRADING SYMBOL: TSX:AGI

 

 

DRILL

HOLE

    DRILLING
METHOD		   

TOTAL

DEPTH

(m)

   

FROM

(m)

   

TO

(m)

   

INT.

(m)

   

GOLD

(g/t)

11EV129

    RC    91.46    0.00    10.67    10.67    1.002
         13.72    56.40    42.68    1.005

11EV130

    RC    106.71    0.00    10.67    10.67    1.212
         68.60    73.17    4.57    0.511
         86.89    89.94    3.05    0.818

11EV131

    RC    121.95    35.06    42.68    7.62    0.395
         47.26    71.65    24.39    1.054
         74.70    105.18    30.48    1.242

11EV132

    RC    121.95    0.00    4.57    4.57    1.553
         7.62    15.24    7.62    0.996
         24.39    83.84    59.45    2.576
         Inc.39.63    42.68    3.05    23.95
         Inc.57.93    59.45    1.52    7.53

11EV133

    RC    91.46    25.91    85.37    59.46    1.391

11EV134

    RC    102.13    0.00    16.77    16.77    4.267
         Inc.6.10    12.20    6.10    8.87
         21.34    25.91    4.57    1.025
         60.98    70.12    9.14    0.477
         80.79    83.84    3.05    0.415

11EV135

    RC    22.87    12.20    22.87    10.67    1.072

11EV136

    RC    141.77    3.05    6.10    3.05    2.623
         18.29    24.39    6.10    0.960
         30.49    60.98    30.49    0.967
         64.02    76.22    12.20    0.659
         83.84    94.51    10.67    0.611
         97.56    129.57    32.01    1.537

11EV137

    RC    30.49    0.00    30.49    30.49    1.259

11EV138

    RC    152.44    0.00    32.01    32.01    1.184
         Inc.1.52    4.57    3.05    5.100

11EV139

    RC    144.82    48.78    65.55    16.77    0.648
         73.17    77.74    4.57    0.578
         80.79    112.80    32.01    1.247

11EV140

    RC    193.60    0.00    9.15    9.15    3.249
         Inc.1.52    3.05    1.53    9.15
         19.82    27.44    7.62    0.537
         33.54    42.68    9.14    0.473
         123.48    128.05    4.57    0.442
         137.20    141.77    4.57    1.124

11EV141

    RC    121.95    12.20    15.24    3.04    0.807
         67.07    76.22    9.15    0.640

11EV142

    RC    152.44    0.00    28.96    28.96    0.880
         38.11    41.16    3.05    0.497

11EV143

    RC    121.95    44.21    50.30    6.09    0.446

11EV144

    RC    167.68    1.52    4.57    3.05    0.449
         10.67    44.21    33.54    0.690

11EV145

    RC    111.28    1.52    4.57    3.05    0.529
         7.62    15.24    7.62    0.585
         22.87    25.91    3.04    0.457
         32.01    42.68    10.67    0.863
         60.98    64.02    3.04    0.490
         73.17    76.22    3.05    0.639

11EV146

    RC    96.04    12.20    24.39    12.19    0.492
         30.49    36.59    6.10    0.871
         41.16    57.93    16.77    0.965
         64.02    83.84    19.82    0.936

 

 

8 | ALAMOS GOLD INC

TRADING SYMBOL: TSX:AGI

 

 

DRILL

HOLE

    DRILLING
METHOD		   

TOTAL

DEPTH

(m)

   

FROM

(m)

   

TO

(m)

   

INT.

(m)

   

GOLD

(g/t)

11EV147

   

RC

   

152.44

    4.57    9.15    4.58    0.460
         18.29    33.54    15.25    0.598
         36.59    39.63    3.04    0.459

11EV148

    RC    28.96    4.57    9.15    4.58    2.633
         Inc.4.57    6.10    1.53    7.320

11EV149

    RC    182.93    35.06    41.16    6.10    0.519
         44.21    67.07    22.86    1.011
         77.74    80.79    3.05    0.363
         85.37    96.04    10.67    0.416
         99.09    102.13    3.04    0.477
         132.62    135.67    3.05    0.464
         140.24    144.82    4.58    0.417
         147.87    176.83    28.96    1.200

11EV150

    RC    138.72    70.12    114.33    44.21    1.707

11EV151

    RC    169.21    36.59    39.63    3.04    0.481
         44.21    51.83    7.62    0.465
         67.07    99.09    32.02    0.776
         112.80    137.20    24.40    0.588

11EV152

    RC    199.70    33.54    38.11    4.57    0.503
         76.22    96.04    19.82    0.859
         99.09    106.71    7.62    0.449
         137.20    150.91    13.71    0.466

11EV153

    RC    137.20    77.74    80.79    3.05    0.611
         99.09    105.18    6.09    0.706

11EV154

    RC    190.55    36.59    74.70    38.11    0.810
         79.27    82.32    3.05    0.895
         99.09    106.71    7.62    0.498
         121.95    128.05    6.10    0.431
         134.15    146.34    12.19    0.647

11EV155

    RC    187.50    167.68    181.40    13.72    0.449
         184.45    187.50    3.05    0.393

11EV156

    RC    138.72    86.89    91.46    4.57    0.553
         94.51    108.23    13.72    0.744
         117.38    126.52    9.14    0.759

11EV157

    RC    152.44    47.26    50.30    3.04    0.425
         67.07    77.74    10.67    0.696

11EV160

    RC    152.44    129.57    138.72    9.15    0.817

11EV161

    RC    169.21    36.59    45.73    9.14    0.588
         92.99    118.90    25.91    0.861
         135.67    137.20    1.53    3.49
         149.39    167.68    18.29    0.853

12EV162

    RC    123.48    13.72    27.44    13.72    0.850

12EV163

    RC    172.26    54.88    59.45    4.57    0.565
         64.02    71.65    7.63    1.834
         Inc.67.07    68.60    1.53    6.82
         74.70    103.66    28.96    0.910
         118.90    121.95    3.05    0.765
         152.44    158.54    6.10    0.593

12EV164

    RC    121.95    15.24    22.87    7.63    0.879

 

 

9 | ALAMOS GOLD INC

TRADING SYMBOL: TSX:AGI

 

 

DRILL

HOLE

    DRILLING
METHOD		   

TOTAL

DEPTH

(m)

   

FROM

(m)

   

TO

(m)

   

INT.

(m)

   

GOLD

(g/t)

12EV165

    RC    172.26    82.32    96.04    13.72    0.861
         125.00    129.57    4.57    1.258
         149.39    170.73    21.34    0.986

12EV166

    RC    135.67    15.24    19.82    4.58    0.479
         22.87    25.91    3.04    0.643
         82.32    86.89    4.57    1.402

12EV167

    RC    135.67    16.77    28.96    12.19    0.426
         67.07    77.74    10.67    0.599

12EV168

    RC    106.71    67.07    70.12    3.05    0.468

12EV169

    RC    175.30    10.67    15.24    4.57    0.442
         18.29    44.21    25.92    0.607
         59.45    65.55    6.10    1.240
         74.70    86.89    12.19    0.377

12EV173

    RC    144.82    16.77    18.29    1.52    10.65
         45.73    51.83    6.1    0.392
         70.12    120.43    50.31    4.982
         Inc.82.32    83.84    1.52    8.19
         Inc.91.46    92.99    1.53    28.8
         Inc.96.04    97.56    1.52    32.9
         Inc.111.28    114.33    3.05    27.405
         132.62    143.29    10.67    0.466

12EV174

    RC    126.52    19.82    25.91    6.09    1.369
         45.73    48.78    3.05    0.377
         60.98    77.74    16.76    0.570

12EV175

    RC    102.13    45.73    50.30    4.57    0.459

12EV176

    RC    199.70    10.67    16.77    6.10    0.588
         83.84    92.99    9.15    0.501
         97.56    106.71    9.15    0.499
         115.85    123.48    7.63    0.692
         134.15    178.35    44.20    2.606
         Inc.146.34    158.54    12.20    5.878

12EV177

    RC    102.13    62.50    71.65    9.15    0.545

12EV178

    RC    175.30    33.54    38.11    4.57    0.387
         47.26    56.40    9.14    0.718
         70.12    77.74    7.62    0.964
         112.80    117.38    4.58    0.517
         121.95    137.20    15.25    1.065
         161.59    169.21    7.62    0.904

12EV179

    RC    117.38    18.29    22.87    4.58    0.440

12EV180

    RC    150.91    94.51    111.28    16.77    1.315
         125.00    138.72    13.72    2.418

12EV181

    RC    135.67    No             
         Intervals               

12EV182

    RC    213.41    56.40    67.07    10.67    1.403
         85.37    131.10    45.73    1.587
         135.67    138.72    3.05    0.496
         155.49    190.55    35.06    1.855
         195.12    210.37    15.25    0.510

12EV183

    RC    152.44    83.84    105.18    21.34    0.699

12EV185

    RC    182.93    33.54    38.11    4.57    0.528
         41.16    47.26    6.1    0.385
         54.88    91.46    36.58    0.783

 

 

10 | ALAMOS GOLD INC

TRADING SYMBOL: TSX:AGI

 

 

(1) Due to the exploratory nature of this program and the variable orientations of the mineralized zones, the intersections presented herein may not necessarily represent the true width of mineralization
(2) RC = Reverse Circulation Hole
(3) Number in bold represent intervals greater than 35 metres*grams/tonne (35gmt)

 

 

11 | ALAMOS GOLD INC

TRADING SYMBOL: TSX:AGI

 

Table 2: El Victor – Select Composite Intervals – Core Drilling1

Include intervals at >0.35 g/t Au over a 3 metres minimum width, no assay cut

 

DRILL

HOLE
(Azimuth/Inclination)

    DRILLING
METHOD		   

TOTAL

DEPTH

(m)

   

FROM

(m)

   

TO

(m)

   

INT.

(m)

   

GOLD

(g/t)

11VT037

    DDH    54.55    0.00    54.55    54.55    1.984

11VT038

    DDH    27.90    0.00    27.90    27.90    1.150

11VT039

    DDH    49.70    1.00    24.04    23.04    1.296
         28.54    33.40    4.86    0.446

11VT040

   

DDH

   

53.05

    0.00    22.04    22.04    1.180
         28.30    37.95    9.65    0.447
         45.45    48.45    3.00    0.693

11VT041

   

DDH

   

48.95

    0.00    17.25    17.25    0.462
         30.65    35.50    4.85    1.735
         44.50    47.05    2.55    0.472

11VT042

    DDH    63.35    0.00    63.35    63.35    1.411

11VT043

   

DDH

   

33.10

    1.50    11.65    10.15    0.837
         29.45    31.60    2.15    0.978

11VT044

   

DDH

   

98.80

    12.00    20.25    8.25    0.495
         34.05    55.80    21.75    0.652
         58.40    67.70    9.30    0.906
         84.85    92.10    7.25    0.481
         95.15    98.80    3.65    0.427

11VT045

   

DDH

   

78.40

    45.15    54.60    9.45    2.007
         Inc.50.15    51.60    1.45    5.18
         68.05    71.10    3.05    0.360
         72.80    78.40    5.60    0.447

11VT046

   

DDH

   

126.25

    3.35    11.90    8.55    0.517
         30.85    41.80    10.95    2.189
         Inc.37.05    40.65    3.60    5.658
         67.20    82.20    15.00    0.760
         85.00    92.35    7.35    1.533

11VT047

   

DDH

   

125.00

    8.20    12.70    4.50    0.717
         24.95    29.45    4.50    1.232
         73.75    76.75    3.00    3.330
         79.15    89.15    10.00    0.411

 

(1) Due to the exploratory nature of this program and the variable orientations of the mineralized zones, the intersections presented herein may not necessarily represent the true width of mineralization
(2) DDH = Diamond Drill Hole
(3) Number in bold represent intervals greater than 35 metres*grams/tonne (35gmt)

 

 

12 | ALAMOS GOLD INC