After acquiring the Cerro de Oro property in Mexico almost three months ago, Minera Alamos (TSXV: MAI) announced this week that it is fast-tracking development activities at the project.
In a press release, the Canadian miner said it has already completed an internal evaluation of historical information for the project and is in the process of finalizing an inaugural resource estimate (NI 43-101 compliant) in the coming weeks.
Minera Alamos also said that an updated geological model for the project is being prepared. The model is expected to act as the basis for a drill program focused on zones of potential resource expansion and to confirm the suitability of proposed locations for heap leach pads and ponds.
“Metallurgical testwork demonstrates the amenability of oxide mineralization to gold recovery via cyanidation and that potential also exists for recovery from transition/sulphide mineralization,” the media brief states. “Follow-up testwork will focus on the optimization of engineering design parameters.”
Once the results from the testwork are received, the company plans to submit permit applications for a heap leach gold recovery facility in early 2021.
“In just a few short months since the Cerro de Oro acquisition, we have rapidly advanced the project on a number of parallel fronts. All indications to date support our belief that the deposit is an ideal project for the design and development of another low capital intensity, heap-leach operation to expand the company’s future growth potential,” Darren Koningen, Minera Alamos’ CEO, said in the release. “With the new information in hand, we look forward to the completion of the initial resource estimate in the coming weeks that should set the stage for finalizing the internal engineering studies that will serve to support permit applications for the development of a commercial gold operation at Cerro de Oro.”
Located in the north-central state of Zacatecas, the 6,500-hectare Cerro de Oro property adds to Minera Alamos’ Santana and La Fortuna assets in Sonora and Durango, respectively.
The recently-acquired project is positioned within the Concepcion del Oro mining district that includes several gold and polymetallic mines and deposits including Newmont’s Peñasquito gold/silver mine and Fresnillo’s Noche Buena gold mine.