TORONTO, ONTARIO–(Marketwired – Sept. 7, 2017) – Alamos Gold Inc. (TSX:AGI)(NYSE:AGI) (“Alamos” or the “Company”) is pleased to announce that construction of the first phase of the La Yaqui mine is substantially complete, on budget, and ahead of schedule. Gold production has commenced and is expected to reduce the cost profile from Mulatos district operations going forward.
The mine produced a total of 410 ounces of gold from the initial pour. Gold production rates are increasing with the stacking of the first lift of ore on the leach pad completed and placed under irrigation in August.
“The first phase of the La Yaqui Mine was brought into production in eight months, a significant achievement and indicative of how quickly we can develop these types of deposits. Alamos will apply this same approach as we look to grow and develop La Yaqui Grande and other targets within the Mulatos district,” said John A. McCluskey, President and Chief Executive Officer.
La Yaqui is a standalone heap leach operation located approximately seven kilometres (straight line) from the Mulatos Mine in Sonora, Mexico. The mine is expected to produce approximately 25,000 ounces of gold per year at substantially lower costs than the main Mulatos pit complex given its higher grades and recoveries.