The company reported 50% jump in global measured and indicated mineral resources to 6.6 million ounces of gold.
SEATTLE (Scrap Monster): Alamos Gold Inc. reported its updated mineral reserves and resources as of December 31, 2024.
The worldwide proved and probable mineral reserves increased by almost 31% to around 14 million ounces of gold, according to a corporate news release. The company's purchase of Magino the year before, continuous high-grade additions at Island Gold, and an initial mineral reserve at Burnt Timber and Linkwood were the primary causes of the jump.
ALSO READ:
Alamos Deal with Argonaut Spins Off Florida Canyon Gold Inc.
Alamos Gold Announced Completion of Oxford Mining Acquisition
According to internal calculations, the Magino mineral reserves were approximately 2 million ounces. With grades rising by 11%, Island Gold's mineral reserves increased by 32% to 2.3 million ounces. In the meantime, Burnt Timber and Linkwood had 0.9 million ounces of early mineral reserves.
Global measured and indicated mineral resources increased by 50% to 6.6 million ounces of gold, according to the business. On the other hand, the worldwide inferred mineral resources saw a little decrease of 2% to 7.1 million gold ounces.
Alamos Gold revealed that this year's $72 million global exploration budget is the biggest in the company's history. This includes increased funding for the Qiqavik project in Quebec and the Island Gold District.
According to President and CEO John A. McCluskey, the company's substantial investment in exploratory efforts has contributed to the growth of value across its asset base.
Member