Project UpdateJun 22, 2026, 06:56 AM
Alamos Gold Reports High-Grade Gold Discoveries at Island Gold Mine
AI Summary
Alamos Gold Inc. reported new high-grade gold exploration drilling results from its Island Gold Mine and regional targets. Discoveries include a new zone 250-500m west of existing reserves (Island Gold West Extension) and extensions in the Island West up-plunge area, which can be mined via ramp. Regional exploration at the past-producing Cline-Pick and Edwards mines also continues to intersect high-grade gold, all targeted as sources for the expanded Magino mill. The company has budgeted $43 million for exploration in 2026, up from $24 million in 2025, with a focus on defining new reserves and resources.
Key Highlights
- New high-grade mineralization discovered in Island Gold West Extension, 250-500m west of existing reserves.
- Island West up-plunge area extended, offering potential for increased underground mining rates via ramp access.
- Regional exploration at Cline-Pick and Edwards mines continues to intersect high-grade gold mineralization.
- 2026 exploration budget for Island Gold District is $43 million, up from $24 million in 2025.
- Highlights include 12.05 g/t Au over 5.20m at Island West Extension, with 36.67 g/t Au over 1.50m.
- Highlights include 67.93 g/t Au over 3.05m at Cline-Pick Mines, with 127.72 g/t Au over 1.35m.
- CEO expects Island Gold District to become one of Canada's largest and lowest-cost gold operations.
- Planned 50,000m underground and 48,000m surface drilling for Island Gold in 2026.
Price Impact
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