Northern Miner Staff

The company is planning a 1,000-metre drill program at its Alacran copper-gold deposit, part of its San Matias project in Colombia.

The company reported measured and indicated resources for Lindero of 18.9 million tonnes, a 51% increase over earlier estimates.

The move comes after completing an initial surface evaluation on its Eboshi, Kobui, Minamikayabe and Kamitsue lithocap projects in Japan.

The PFS outlines a mine life of 11 years and total recovered metals of 345,000 ounces of gold, 8 million ounces of silver, 254 million pounds of copper and 626 million pounds of zinc.

The company will table an updated resource estimate for Goldboro by 2019’s third quarter.

The latest drill results include: 1,084 ppm lithium over 36.4 metres, 994 ppm lithium over 42.7 metres and 934 ppm lithium over 44 metres.

The company intends to update a portion of its inferred resource to the indicated category before the end of the year.

The company is targeting the project’s Margarita Vein, where it recently drilled the project’s best intercept to date.

Surface exploration drilling returned 73.5 grams gold over 1.3 metres starting from 209 metres downhole and 18.5 grams gold over 5.8 metres from 170 metres downhole.

Alamos will sell a portfolio of 18 royalties to Metalla Royalty and Streaming for $8 million in Metalla shares. Following the transaction, Alamos will own 6.26% of Metalla.