Minera Alamos Closes on Acquisition of Sabre Gold, Copperstone Gold Project
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Minera Alamos has closed on the acquisition of Sabre Gold Mines and its flagship Copperstone Gold Project.
“We are excited to have closed the Sabre transaction that provides a new development platform for our shareholders in a stable jurisdiction. The Copperstone mine provides excellent leverage to gold prices and is in keeping with our other assets in that it has robust economics at much lower and more conservative gold price scenarios.” said Doug Ramshaw, president of Minera Alamos.
“Even in advance of the acquisition closing we have had discussions with various project financing groups with regard to advancing Copperstone. With a shift toward more positive sentiment on the outlook for the Mexican mining industry in 2025, this year is expected to be a very active one for the company and we are preparing for overlapping project development work in both Mexico and Arizona,” added Ramshaw.
PERSONNEL
Minera Alamos has added added Louell Uy to its mining planning group. Louell has been an independent consultant for the last six years, following his work with both Teck and Rio Tinto between 2008 and 2017 in various capacities that largely centered around mine planning engineering which will be leaned on heavily both at Santana and Cerro de Oro in Mexico as well as at the newly acquired Copperstone Mine.
In addition, Minera Alamos has begun the process of adding team members that will be exclusively focused on the Copperstone project. Garth Wilcox will be providing additional engineering, design, and construction support services as the project lead for Consultec Group. Garth previously worked with the Minera Alamos team during the successful build out of the El Castillo gold mine under the Castle Gold banner in 2008-2011.
MILL COMPONENTS RELOCATION
Minera Alamos is currently reviewing transportation proposals for the movement of the processing plant (mill) equipment that is currently in storage in Val d’Or, Quebec down to the Copperstone site. A full schedule for the move is expected to be finalized later this quarter.
Minera Alamos is a gold production and development company. The company has a portfolio of high-quality Mexican assets, including the 100 percent owned Santana open-pit, heap-leach mine in Sonora that is currently going through the start-up of operations at the new Nicho Main deposit. The 100 percent owned Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical work completed and the proposed mining project is currently being guided through the permitting process by the company’s permitting consultants. The La Fortuna open pit gold project in Durango (100 percent owned) has a positive, robust preliminary economic assessment (PEA) completed, and the main federal permits are in place. Minera Alamos is built around its operating team that together brought three open pit heap leach gold mines into successful production in Mexico over the last 14 years. Minera Alamos also wholly-owns the Copperstone Mine and associated infrastructure in La Paz Country, Arizona, an advanced development asset with a permitted plan of operations that can be developed in parallel with planned project advancements in Mexico.
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