Alamos Gold is conducting an $18 million exploration drilling program at its underground Island Gold mine 83 kilometers (km) northeast of Wawa, Ontario, that is successfully adding reserves and resources to the mine. A total of 65,500 meters (m) of drilling was completed across 432 holes during the first half of 2018, and a further 84,000 m of surface and underground exploration and delineation drilling have been budgeted for the second half.
Through the first half, proven and probable reserves at the mine increased by 72,000 ounces (oz) net of mining depletion to 959,000 oz, and mineral reserve grades increased 5% to 10.69 grams per metric ton (mt) gold.
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