Friday, 9th December 2005 (3343 views)

Alamos Gold has reported a significant find at Mulatos deposit in Mexico, detailing encouraging results from its latest surveys.

In a statement the firm said that it had encountered "very high grade to bonanza grade gold mineralization" at the site and expressed optimism at the prospects for development.

Alluding to the "highest gold concentrations encountered to date in the greater Mulatos deposit area", Alamos is now set to explore further.

The discovery is being seen as an extension of a long-standing high-grade deposit at Mina Vieja, which has provided much of the firm's gold in the past.

Alamos' share price rose 14 per cent on the news, with the company hoping to benefit from the find.

 

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