On Golden Pond??........Some thoughts
On March 30th as we all know Century announced the purchase of the San Juan Gold Mines S.A.A. and Minera Chorunga S.A.A. The exploration potential is enormous on the large epithermal deposits they have accumulated in Peru. It is my thinking that Century plans to aggressively explore the large potential of these deposits, especially the one know as the “Golden Champune”………..or Golden Champoo or Golden Champagne??.............whichever handle works for you??
There is a lot of known drilling or exploration work that has been done on this property, while it is non NA 43-101 compliant they do have an idea that there is some gold there, something along the lines of 185 million tonnes of dirt that holds about 12,490,756.52 oz’s .
centurymining.com
“The “Golden Champune” prospect is located on a hill of the same name, 3.5 km northeast of San Juan Gold Mine. It displays stockwork mineralization with vein quartz. Pyrite and chalcopyrite are the primary sulfides, plus hydrothermal muscovite in some locations. Host rocks are a tonalitic intrusive with andesite dikes. Gold grades from this prospect run from 1.5 to 3.0 g/t gold, and a historical estimate by San Juan Gold Mines S.A.A. put the potential tonnage of the deposit at 185 million tonnes indicating the potential for a major heap leachable deposit. This historical estimate is not compliant with NI 43-101 standards of disclosure.”
It is my thinking that Century will aggressively pursue development of this property as it is an elephant by all intents and purposes, there will be of course a number of varying ways to approach development, they could massively finance and attack it in similar fashion as Barrick Gold did with “Laguna’s Norte”, or they could take a staged approach similar in that being applied by one Alamos Gold, the following url will bring you to a list at CCN Mathews news that has all of AGI’s news releases.
As one can see from going to CCN Mathews site they were required to do various financings along the way, and they used a few different approach’s. As for Century, they should be able to combine cash flow from increased rates at Sigma-Lamaque and also there other Peuvian projects that they will soon begin to ramp up.
This project may begin with a target of say 120,000 oz’s/yr with staged additions raising their mining rates to maybe 500,000 oz’s/yr??.................with cost most likely being below $150.00/oz.
What follows are clips of certain news showing the progressions of AGI through their development stage, and of course a direct link to AGI’s web site??
alamosgold.com
a view of their chart throughout their development progress
stockcharts.com
ccnmatthews.com
Alamos Gold Inc. Achieves Commercial Production at its Mulatos Mine
TORONTO, ONTARIO--(CCNMatthews - April 3, 2006) - Alamos Gold Inc. (Alamos) (TSX:AGI) announces that Mexico's newest major gold mine, the Mulatos Mine in the state of Sonora, has achieved commercial production effective April 1, 2006, after a review of the operational and financial performance of the mine.
For the month of March 2006, the mine stacked a total of 433,000 tonnes of ore on the leach pad, at an average rate of almost 14,000 tonnes per day. Of this amount, 175,500 tonnes was higher grade crushed material, the balance being lower grade run of mine ore and screened overliner material. Over its best consecutive 15-day period in March, the crusher produced 8,000 tonnes per day of crushed ore.
The gold recovery plant delivered 25,100 ounces of gold to carbon in the first quarter, including over 10,000 ounces in March. Gold poured and delivered to a third party refinery was 21,500 ounces, before final refinery settlements. Gold sold in the first quarter 2006 was 22,680 ounces at an average price of $545 per ounce.
"We are extremely pleased to reach this milestone", said John McCluskey, President and Chief Executive Officer of Alamos. "In less than two years since we completed the feasibility study in June 2004, we were successful in obtaining financing, completing construction on budget and achieving commercial rates of production. My congratulations to all our employees for a great achievement".
The Mulatos mine is expected to produce between 140,000 to 155,000 ounces of gold in 2006, at a cash operating cost between $210 -$225 per ounce in 2006.
ccnmatthews.com
Alamos Gold Inc.: Operations Update, Mulatos Mine, Mexico
TORONTO, ONTARIO--(CCNMatthews - Feb. 13, 2006) -
(All funds in United States dollars)
Alamos Gold Inc. (Alamos) (TSX:AGI) announces that Phase I development of its Mulatos gold mine in Sonora, Mexico is now complete following successful commissioning of its three-stage crusher and conveying system. Fine crushed ore is being delivered adjacent to the leach pad at a rate of 7,000 tonnes per day and is expected to ramp up to a projected 15,000 tonnes per day during the second quarter of 2006. Crushed ore delivered to the leach pad continues to be supplemented by run-of-mine ore until sustained higher throughput is achieved.
On a project-to-date basis, over 1.3 million tonnes of ore containing 76,000 ounces of gold was placed on the leach pad. In the month of January 2006, 304,000 tonnes of ore, including 62,000 tonnes of primary crushed ore, containing 20,300 ounces of gold was placed on the leach pad. Gold production for the year ended December 31, 2005 was 7,600 ounces gold, before final settlements. Production for January was 6,700 ounces gold, before final settlements. The mine expects to produce between 25,000 and 27,000 ounces of gold for the first quarter of 2006 and between 140,000 and 155,000 ounces of gold for 2006. Cash costs are expected to average between $210 and $225 per ounce of gold for the year. Cash costs are higher than feasibility due to higher energy costs and planned lower recoveries from run-of-mine ore compared with crushed ore contemplated in the Feasibility Study. Cash costs in the first quarter are expected to be higher than this range and trend lower through successive quarters as higher average throughputs are established.
Alamos also announces that Standard Bank PLC has agreed to increase its previously announced revolving credit facility from $10 million to $16 million. The facility is available for general corporate purposes and to fund a Phase II expansion at Mulatos to 15,000 tonnes of ore per day from the feasibility rate of 10,000 tonnes per day, at a planned cost of $10 million. Working capital in the company has recently increased from the exercise of 2,084,000 warrants at CDN$3.50 for proceeds of $6.2 million. An additional 2.3 million warrants at the same price remain to be exercised prior to expiry on April 8, 2006.
ccnmatthews.com
Alamos Gold Inc.: Bonanza Grade Intercepts Encountered in Escondida Hanging Wall Zone, Mulatos Deposit, Mexico
TORONTO, ONTARIO--(CCNMatthews - Dec. 6, 2005) - Alamos Gold Inc. (Alamos) (TSX:AGI) announces that six surface reverse circulation holes recently drilled in the Escondida Hanging Wall Zone have encountered very high grade to bonanza grade gold mineralization. Vertical hole 05EI034 intersected 28.97 meters of 70.96 g/t Au, including 9.14m of 198.9 g/t Au. The Escondida Zone is located 500 meters northeast of the Estrella Pit, which is currently being mined. Preliminary uncapped results from the zone are summarized below:
ccnmatthews.com
Alamos Gold Increases Resources by 55% In the El Salto/Mina Vieja Areas, Mulatos Deposit, Mexico
TORONTO, ONTARIO--(CCNMatthews - Nov. 7, 2005) - Alamos Gold Inc. (Alamos) (TSX:AGI) announces that an updated resource estimate has been completed on the El Salto/Mina Vieja portion of the Mulatos deposit. The El Salto area is located adjacent to the Estrella Pit, which is currently being mined.
The new drill program was undertaken to support reserve expansion and to fully delineate the zone through step-out drilling. A total of 76 new reverse circulation infill and step-out drill holes (13,213 meters) were added to 81 previously existing reverse circulation and diamond drill holes.
The additional drilling resulted in an increase of 188,000 contained Measured and Indicated Mineral Resource gold ounces at a 0.5 g/t gold cutoff grade compared to the 2004 resource estimate of this area. Total Measured and Indicated gold Resource ounces in the El Salto/Mina Vieja model area are now 527,000 ounces compared to 339,000 ounces in the 2004 estimate, representing a 55% increase in resource ounces.
Alamos is conducting metallurgical testing and pit design work for a reserve estimate. M3 Engineering and Technology Corporation and Independent Mining Consultants from Tucson, Arizona are assisting in the study, scheduled for completion in December 2005.
The following table summarizes the Measured and Indicated gold Resources for the El Salto/Mina Vieja area at several gold cutoff grades. The Mineral Resources shown in the table below comply with the definitions for Measured and Indicated Resources as outlined by the Canadian Institute of Mining and Metallurgy (CIMM) and NI 43-101 guidelines.
ccnmatthews.com
Construction on Schedule for Alamos Gold's Mulatos Mine
TORONTO, ONTARIO--(CCNMatthews - Oct. 19, 2005) - Alamos Gold Inc. (Alamos)(TSX:AGI) is progressing toward commercial production at the Mulatos Mine in Sonora, Mexico. Construction is scheduled for completion in December when the project should achieve the feasibility production rate of 10,000 tonnes of ore per day. At the feasibility rate the mine will yield production up to 150,000 ounces of gold per year over a mine life of ten years.
Initial production of Mulatos is derived from the Estrella Pit, which contains reserves of 36.4 million tonnes grading 1.64 grams per tonne gold (g/t) (calculated at a gold price of US$350 per ounce at a 0.8 g/t cutoff grade; approximately 1.9 million contained ounces of gold). Drilling has been ongoing at the adjacent El Salto and Escondida Zones in order to increase resources and upgrade measured and indicated resources to reserves. Current reserves are contained within a measured and indicated resource of 62.3 million tonnes grading 1.51 g/t, (employing a 0.6 g/t cutoff grade; approximately 3 million contained ounces). alamosgold.com
ccnnewswire.com
JULY 27, 2005 - 08:40 ET
Alamos Gold Inc. Announces Credit Agreement with Standard Bank PLC
TORONTO, ONTARIO--(CCNMatthews - July 27, 2005) - Alamos Gold Inc. (Alamos) (TSX:AGI) announces that it has closed a definitive credit agreement (the Agreement) with Standard Bank PLC (Standard Bank), whereby Standard Bank has agreed to provide an unsecured revolving credit facility for general corporate purposes in the amount of US$10 million. The term is for one year and may be extended in two one-year increments with the agreement of Standard Bank. Alamos will issue to Standard Bank 350,000 common share purchase warrants at CDN$5.80 per share, exercisable for a two-year period beginning after the closing date.
ccnmatthews.com
Alamos Gold Inc. Reports First Gold Pour at Mulatos Project
TORONTO, ONTARIO--(CCNMatthews - July 25, 2005) - Alamos Gold Inc. (Alamos)(TSX:AGI) announces the pouring of its first gold dore bar weighing in at 3.65 kg. (117 ounces) at its Mulatos open-pit mine in Mexico, located in the Sonora State.
Currently there are 100,000 tonnes of ore at a grade of 0.90 g/t gold stacked on the leach pad and 300,000 tonnes of broken ore at a similar grade stockpiled adjacent to the pad awaiting screening and loading. The ore has been sourced from approximately 1 million tonnes of colluvium material adjacent to the Estrella deposit and some run-of-mine development ore.
This initial gold pour is an important milestone in the construction of the Mulatos mine. In addition to the power plant, water and leaching systems and gold recovery plant undergoing commissioning, the refurbished crusher and stacking systems are on site for final assembly and civil work for the crusher is progressing. Pre-stripping of the first 3 million tonnes of material atop the Estrella deposit, consisting of 2.5 million tonnes of waste and 500,000 tonnes of ore grading 1.6 g/t has commenced at a planned rate of 30,000 tonnes per day. Once the Mulatos Project reaches commercial production the mine is expected to produce 150,000 oz. gold annually over a life span of about 10.5 years.
ccnmatthews.com
NOVEMBER 29, 2004 - 06:00 ET
First Drill Results Prove Positive on Alamos Gold's
New Realito Property
TORONTO, ONTARIO--(CCNMatthews - Nov. 28, 2004) - Alamos Gold Inc.
(Alamos)(TSX:AGI) is pleased to announce results from a fourteen-hole
(2235m) reverse circulation drilling program on its 100% owned El
Realito project, located 14km northwest of the Mulatos deposit, in
eastern Sonora, Mexico. It is the first project drilled of nine defined
target areas outside of the immediate Mulatos deposit area, and the
first drilling program completed on the El Realito property. Nine of the
fourteen holes drilled encountered significant intercepts of oxidized
gold mineralization. Hole RE007 encountered 24 meters of gold
mineralization grading 5.98 grams. The following table summarizes the
assay results:
ccnmatthews.com
JUNE 2, 2004 - 06:00 ET
Alamos Gold Reports Feasibility Study Completed for
Phase One of Mulatos Project-Board Approves Construction
TORONTO, ONTARIO--(CCNMatthews - Jun 2, 2004) - Alamos Gold Inc.
(TSX.V:AGI) has concluded a Feasibility Study for the Phase One
development of the Mulatos Project located in the State of
Sonora, Mexico. The first phase of the project involves the
development of the Estrella Pit. Estrella contains approximately
2 million ounces of gold from which Alamos Gold expects to
recover 1.4 million ounces in an open pit heap leach operation.
Mine Production will commence in July 2005 at a rate of 10,000
tonnes per day reporting to the leach pad. Gold production will
reach 150,000 ounces per year in the first three years at a cost
of $174 per ounce (all references to currency in U.S funds). The
Estrella Pit, which is the first phase of the development of the
Mulatos Property, has a life of 10.5 years.
ccnmatthews.com
MARCH 23, 2004 - 14:34 ET
Alamos Gold Obtains Water Rights for Mulatos Project
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Mar 23, 2004) -
Alamos Gold Incorporated (AGI-TSX.V) announces that its wholly
owned Mexican subsidiary, Minas de Oro Nacional S.A. de C.V., has
obtained from the Comision Nacional Del Agua (CAN), a bureau of
the Federal government of Mexico, approval of an agreement to
acquire surface water rights in the amount of 1,500,000 cubic
meters per year, to be drawn from the Mulatos River. These
rights, which are granted in perpetuity, provide sufficient
capacity to support the water requirements for the Mulatos
Project throughout the life of the mine.
The water rights were purchased from the Asociacion De Usuarios
De Sahuaripa A.C. subject to the approval of the CAN. In
consideration for the purchase of the water rights, Alamos Gold
has agreed to finance the drilling of 5 water wells in the
Sahuaripa region to support agricultural irrigation near the
towns of Sahuaripa and Arivechi. The company will pay to the
association US$310,000 by the end of March to fully satisfy the
cost of the water well development.
Obtaining the water rights for the Mulatos Project is a
significant milestone for Alamos Gold, and is the result of
successful negotiation with local communities which has achieved
an agreement that benefits both parties. The Mulatos Project is
the final stage of a bankable feasibility study which will be
published early in the second quarter of this year.
ccnmatthews.com
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: ALAMOS GOLD INC.
TSX VENTURE SYMBOL: AGI
MARCH 22, 2004 - 13:35 ET
Alamos Gold Acquires 17,500 Tonne Per Day Crushing Plant
From Kennecott Minerals
TORONTO, ONTARIO--(CCNMatthews - Mar 22, 2004) - Alamos Gold
Inc., (AGI-TSX.V) announces that an agreement has been signed to
purchase a three stage crushing plant, complete with a stacker
and conveyor system from Kennecott Minerals Corporation, of Salt
Lake City, Utah. The US$1 million purchase amount includes a
substantial inventory of spares and parts for the crushing and
conveying system. The purchase of a well maintained used plant
will allow for a substantial reduction in capital costs for
Alamos Gold's Mulatos Project, which is in the final stage of a
bankable feasibility study.
The terms of the purchase include a US$300,000 non-refundable
down payment, with the balance of the funds to be paid by the end
of July 2004. The crushing plant has been in operation for the
past 13 years at Kennecott's Rawhide Mine in Nevada, operating at
a production rate of 17,500 tonnes per day. This is sufficient
capacity to accommodate the Mulatos project's crushing
requirements.
The first phase of the Mulatos Project is designed to produce at
a rate of 10,000 tonnes per day, which will yield approximately
150,000 ounces of gold per year. The excess capacity of the new
crusher can allow for a number of operational improvements that
should positively impact the economics of the project. Two key
advantages involve the ability to lower the cut off grade of the
operation and, as a consequence, increase the amount of gold
conveyed to the leach pad in the early years of the mine.
Lowering the cutoff grade has a further benefit of reducing the
waste-to-ore stripping ratio. These factors will work together to
reduce operating costs at the Mulatos operation.
The crushing plant has the capacity to accommodate a second phase
expansion envisioned for the project that would see the rate of
production increase to 20,000 tonnes per day in 2006. The
expansion is timed to bring on additional resources from the
Escondida, Gap and El Victor Zones, which lie outside the phase
one pit. The expansion is contingent upon a second feasibility
study scheduled for completion in 2006.
For further information about Alamos Gold Inc., please visit
Alamos' website at www.alamosgold.com.
Safe Harbor Statement under the United States Private Securities
Litigation Act of 1995: Statement in this release that are
forward-looking, including statements relating to the future
recovery of the Mulatos Project, are subject to various risks and
uncertainties concerning the specific factors identified about in
the Company's periodic filings with the Ontario Securities
Commission and the U. S. Securities Exchange Commission. Such
information contained herein represents management's best
judgment as of the date hereof based on information currently
available. The Company does not intend to update this information
and disclaims any legal liability to the contrary.
-30-
ccnmatthews.com
JANUARY 21, 2004 - 09:00 ET
Alamos Gold Announces New Gold Resource Estimate for
Mulatos Deposit, Mexico
VANCOUVER, BRITISH COLUMBIA--Alamos Gold Inc. is pleased to
announce that a new gold resource estimate has been completed for
the Mulatos deposit in conjunction with a feasibility study that
is currently in progress. M3 Engineering and Technology
Corporation from Tucson, Arizona is preparing the feasibility
study using a development plan that has substantially lower
capital costs than those used in previous studies.
A total of 593 drill holes totaling over 95,000 meters of
drilling (359 reverse circulation and 172 core holes) were used
to estimate gold and silver resources, including the recently
completed underground core holes. The resource estimate also
utilized a new geologic interpretation consisting of a series of
high-grade mineralized structures within a broad zone of
lower-grade gold mineralization. Higher-grade structurally
controlled gold domains were identified by both surface and
underground mapping and further substantiated by the recent
underground drilling program. The underground drilling program
also suggests that oxidation within the deposit is more extensive
than previously realized, which will be quantified and integrated
into the feasibility study prior to its completion.
The resource estimate was prepared by Mike Lechner, President of
Resource Modeling Inc. of Tucson, Arizona. Mr. Lechner is
recognized as a Qualified Person according to the requirements of
NI 43-101. The new resource model is more conservative than
previous model estimates by the application of tighter search
envelopes and more stringent resource classification criteria.
Block gold grade estimation was constrained by a 0.25 g/t gold
grade envelope that was constructed using alteration distribution
and known structural controls as boundary constraints. Gold
grades were estimated using a series of inverse distance cubed
interpolation runs that used progressively longer search ranges.
The following table summarizes the measured plus indicated and
inferred gold resources for the Mulatos deposit at several gold
cutoff grades. The resources shown in the table below comply with
the definitions for measured, indicated, and inferred resources
as outlined by CIMM and NI 43-101 guidelines.
ccnmatthews.com
DECEMBER 12, 2003 - 13:42 ET
Alamos Gold Announces More High Grade Oxides Over+ 100 m
Intervals from Estrella Zone
VANCOUVER, BRITISH COLUMBIA--Alamos Gold Inc. is pleased to
announce assay results from five additional holes of the recently
concluded fifteen-hole underground core-drilling program within
the Cerro Estrella portion of the Mulatos deposit in Sonora,
Mexico. A total of 1821.5m of core were drilled in the Phase I
program, with five areas of higher-grade structurally controlled
mineralization tested.
Drill hole results are consistent with the first four holes, and
continue to demonstrate significant intercepts of gold
mineralization higher than the average grade of the deposit.
Drill hole composite intervals are presented in the following
table:
ccnmatthews.com
As you all can see, this Mulatos project has been a company builder for Alamo’s gold, just think of what the Golden Champagne……………..errr Golden Champoo……………errrrr Golden Champune can do for Century looking out two years from now??
Oh and lets not forget those other property’s they have as well which will become even nearer term for Century??...........................i is getting in a tizzy again??
hey any of you guys still with me??
tanoose……………dunno bout you guys and gals but this thinking gets me head a spinnin??…….think I ‘ll get some more of them little blue pills, gotta gets my feet back on the ground??...............................yowsa…………..;-)) |
