In August 2023, Alamos Gold reported results from the Feasibility Study Update conducted on the Lynn Lake Gold Project. The Feasibility Study Update replaces the previous Feasibility Study completed in 2017 and incorporates a 44% larger Mineral Reserve and 14% increase in milling rates to 8,000 tonnes per day (“tpd”) supporting a larger, longer-life, low-cost operation.
The 2023 Study has been updated to reflect the current costing environment, as well as a significant amount of additional engineering, on-site geotechnical investigation work, and requirements outlined during the permitting process with the Environmental Impact Statement (“EIS”) granted in March 2023
National Instrument 43-101 sets the Standards of Disclosure for Mineral Projects within Canada. The Instrument is a codified set of rules and guidelines for reporting and displaying information related to mineral properties owned by, or explored by, companies which report these results on stock exchanges within Canada.
The Instrument defines a Feasibility Study as a comprehensive study of a mineral deposit in which all geological, engineering, legal, operating, economic, social, environmental and other relevant factors are considered in sufficient detail that it could reasonably serve as the basis for a final decision by a financial institution to finance the development of the deposit for mineral production.
Over the mine life, Alamos Gold anticipates C$1.1 billion in capital expenditure including initial capital, sustaining capital and closure, and C$2.1 billion in operational spending, based on the 2023 Feasibility Study Update.
(August 2023)
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(December 2017)
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