Alamos Gold Announces Phase III – Production Expansion to 2,000 tpd

Alamos Gold is planning to expand their operations at the Island Gold Mine. They are proceeding with an expansion of the operation to 2,000 tonnes per day after exploring five different options to expand:

• Ramp 1,200 tpd (current base case operation with no paste plant);
• Ramp 1,200 tpd (R1200);
• Ramp Expansion to 1,600 tpd (R1600);
• Shaft Expansion to 1,600 tpd (S1600); and
• Shaft Expansion to 2,000 tpd (S2000).

Increasing production by 800 tonnes per day will require the installation of a shaft, paste plant, and an expansion of the mill and tailings facility. The media release explains, “following the completion of the shaft construction in 2025, the operation will transition from trucking ore and waste to skipping ore and waste to surface through the new shaft infrastructure, driving production higher and costs significantly lower.”

“Island Gold has been a tremendous acquisition for Alamos Gold. We acquired Island Gold in 2017 at a cost of approximately $600 million when it had 1.8 million ounces of Mineral Reserves and Resources. This high-grade deposit has more than doubled to 3.7 million ounces and we expect further growth yet. The Phase III Expansion Study showcases the growing value of Island Gold. Already one of the most profitable mines in Canada, the expansion will increase production, lower costs, and make this operation even more profitable. The expansion will also best position the operation to benefit from additional exploration success,” said John A. McCluskey, President and Chief Executive Officer.