Island Gold Phase 3+ Expansion to 2,400 tpd from the current rate of 1,200 tpd will involve various infrastructure investments. These include the installation of a shaft, paste plant, and an expansion of the mill.
In late March 2024, Alamos Gold Inc. announced acquisition of the 10,000 tonnes per day Magino mill, which is located two kilometres from the Island Gold shaft (currently under construction). The larger mill and tailings infrastructure at Magino will now also accommodate the rapidly growing Mineral Reserve and Resource base at Island Gold.
Following the expected closing of the Magino acquisition in July 2024, the Company will provide updated capital estimates to reflect upgrades to the Magino mill and with the Island Gold mill expansion no longer required.
Shaft sinking advanced to a depth of 185 m by the end of the Q1 2024. Paste plant detailed engineering 85% complete.
The Phase 3+ Expansion remains on schedule to be completed during the first half of 2026. |