Toronto, Ontario--(Newsfile Corp. - May 31, 2024) - Minera Alamos Inc. (TSXV: MAI) (the "Company" or "Minera Alamos") is pleased to provide selected financial highlights from its 2024 Q1 Financial Statements and MD&A filed on SEDAR+ on May 30th, 2024 as well as an operations update for the first five months of the year.
Operational update - January - May 2024
In December 2023, planning commenced to reconfigure the existing pad capacity at the Santana mine to allow for an improvement in operational performance in 2024/2025.
The Company has started to ramp up mining activities at Santana in the second quarter of 2024 after a revision to the development plans utilizing the existing leach pad capacity while waiting on the expansion permits. The updated plans will allow mining and stacking operations to increase significantly from the 2023 levels. Approximately 20,000 ounces of gold at an average grade of 0.63 g/t and an approximate strip ratio of 1.6:1 has been defined in the updated plan and will be mined over a 12-month period (see news release dated February 22nd, 2024). In addition, a further 4,500 ounces of gold at a higher grade of approximately 1 g/t will be mined and initially stockpiled for future processing pending additional studies to determine an optimal approach for crushing and processing to maximize recoveries. These ounces are expected to be processed within the 12-month schedule noted above.
In April 2024, the Company finalized internal operating plans with its mining contractor who subsequently mobilized at site the additional personnel and equipment required to support the increased mining operations with initial blasting in May in parallel with some site upgrades including new haulage roads. Mining and stacking operations are expected to commence in June following the completion of this work and continue under the current operating plans through H2 2024 and H1 2025. Thereafter, it is anticipated these mining levels should be able to be maintained or further increased with additional pad capacity.
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