RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Statement of Personal Nature It would indeed be intriguing if the results of the company’s drilling programs reveal a high-grade deposit that is comparable to the Island Gold property located just across the street from us. As I’ve mentioned before, a significant portion of Island Gold’s proven and probable reserves are situated in the Elbow Central zone. Alamos Gold also boasts 892,000 tonnes at 15.83 g/t, amounting to 454K ounces in the same zone.
Presently, Argonaut Gold is drilling 63,000 meters in the Elbow Central zone and has established a preliminary underground grade shell beneath the current reserve pit in the same zone. The initial work has identified 1.8 to 2.5 million tonnes at a gold grade ranging from 6 to 7 g/t, equating to 400,000 to 500,000 gold ounces.
Given that the Magino mill operates at its current nameplate capacity of 10,000 tpd, if they were to process ore with a grade of 7 g/t, the company could potentially extract up to 755K ounces in a single year. This is not an unrealistic expectation. If you have any doubts, I would recommend visiting Alamos Gold’s website to review the head grade at their Island Gold operation. In the year 2023, Alamos Gold announced that the average head grade was 10.11 g/t.