Alamos Gold Inc. (TSX:AGI; NYSE:AGI) announced on June 22, 2026, new results from underground and surface exploration drilling at the Island Gold Mine, revealing high-grade mineralization across multiple targets that could serve as additional higher-grade mill feed for the expanded Magino mill.
New High-Grade Zone Discovered West of Reserves
Drilling has defined a new zone of high-grade mineralization located 250 meters west of the existing underground Mineral Reserves and Mineral Resources, termed the Island Gold West Extension. This zone measures approximately 200 by 300 meters based on drilling to date and remains open down-plunge and to the west. It is situated south of the Magino deposit. Highlights include 12.05 grams per tonne (g/t) gold over 5.20 meters (including 36.67 g/t over 1.50 meters) and 8.07 g/t gold over 5.60 meters (including 45.90 g/t over 0.60 meters and 30.20 g/t over 0.45 meters).
Expansion of Island West Up-Plunge Zone
Drilling continues to expand high-grade gold mineralization across multiple zones (C, D1, DN2, G1, G10) in the Island West up-plunge area. Due to its proximity to surface and accessibility via the ramp system, this area offers potential to increase combined underground mining rates beyond the planned 3,000 tonnes per day (tpd) that will be skipped to surface via the shaft. This could further boost production by increasing the proportion of higher-grade ore processed at the Magino mill.
Regional Exploration Success
The regional exploration program has also intersected high-grade gold mineralization at the past-producing Cline-Pick and Edwards mines, located seven kilometers from the Magino mill. These results underscore the district-scale potential of the Island Gold District.
CEO Highlights Growth Potential
John A. McCluskey, President and Chief Executive Officer, stated: “As outlined in the Expansion Study, the Island Gold District is expected to become one of the largest and lowest cost gold operations in Canada. Given our ongoing exploration success within the main Island Gold structure, and across multiple near mine targets, we expect there is further production growth to come. With multiple higher grade targets being defined within proximity to the Magino mill, and an expansion underway that will provide more than enough mill capacity, we see excellent potential to drive production higher by further increasing the proportion of higher-grade ore that will be processed within the expanded circuit.”
