{"id":1199940,"date":"2020-08-05T07:58:00","date_gmt":"2020-08-05T12:58:00","guid":{"rendered":"https:\/\/www.mining.com\/?p=1031782"},"modified":"2020-08-05T07:58:00","modified_gmt":"2020-08-05T12:58:00","slug":"minera-alamos-buys-third-project-in-mexico","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1199940","title":{"rendered":"Minera Alamos buys third project in Mexico"},"content":{"rendered":"

Canada\u2019s Minera Alamos (TSX-V: MAI)\u00a0is expanding its footprint in Mexico<\/a> by acquiring the Cerro de Oro gold project in Zacatecas, its third asset in\u00a0the precious metals-rich country.<\/p>\n

As part of the deal, the Toronto-based junior gains a 100% ownership of the new asset in exchange for share and cash payments scheduled over a four-year period, totalling 4 million MAI shares. Minera Alamos is also paying the vendor $2.9 million in cash.<\/p>\n

The acquisition, which comprises two claims, boosts the company\u2019s claim holdings in the Concepcion del Oro district to about 6,500 hectares. The two concessions are bounded by existing ones held by Minera Alamos. They are surrounded by a larger claim also owned by the company, which provides the land required to facilitate the deposit development.<\/p>\n

\u201cThe Cerro de Oro gold project has many characteristics that mimic the El Castillo gold mine our team developed under the Castle Gold Corporation banner from 2007 until its eventual sale in 2010,\u201d chief executive Darren Koningen said<\/a>.<\/p>\n

“Positive features”<\/strong><\/h2>\n

Analysts at Haywood Research believe Cerro de Oro has many positive features. Among them, near surface mineralization that is open in multiple directions, historical drilling that will support a maiden resource estimate, a low strip ratio and good metallurgical characteristics for an oxide heap leach project. <\/p>\n

Cerro de Oro adds to Minera Alamos\u2019 Santana and La Fortuna assets in Sonora and Durango. Santana is under construction with mining targeted to commence in the first quarter of 2021. Initial production will be 25,000-30,000 ounces a year. La Fortuna is at the permitting stage with the company targeting mining before the end of 2021.<\/p>\n

Some known large-scale mines located nearby include Newmont\u2019s Pe\u00f1asquito, Fisco\u2019s Tayahua, Fresnillo\u2019s Noche Buena and Orla\u2019s Camino Rojo.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Cerro de Oro gold project, made up of two claims containing 8,200m of historical drilling, expands the miner’s holdings in Zacat<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1199940"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1199940"}],"version-history":[{"count":4,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1199940\/revisions"}],"predecessor-version":[{"id":1200062,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1199940\/revisions\/1200062"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1199940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1199940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1199940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}