Alamos Gold receives federal approval for the Lynn Lake project in Manitoba, Canada

Lynn Lake Project, Canada.

Exploration has increased mineral reserves by 27%.

Alamos Gold announced that a federal environmental impact assessment for the Lynn Lake Gold project in Manitoba has been completed and approved by Canada’s Minister of Environment and Climate Change. The county has also issued environmental law licenses for the MacLellan and Gordon sites.

The company said that since the completion of the 2017 feasibility study on the Lynn Lake project, drilling around the Gordon and MacLellan deposits has resulted in a 27% increase in mineral reserves to 2.1 million ounces of gold.

“The achievement of these two important organizational milestones for the Lynn Lake Gold project represents a collaborative, multi-year effort by our team and our commitment to environmental sustainability,” said CEO John A. McCluskey.

“Lynn Lake is an important opportunity to drive the future growth of our business in Canada, with the potential to increase our annual production to approximately 800,000 ounces of gold annually,” he said.

With a large pool of unexplored land totaling 58,000 hectares, C$5 million ($3.6 million) is earmarked for exploration in 2023, including 8,000 meters of drilling focused on several advanced regional targets.

The goals of the company

The Company aims to expand reserves and mineral resources near the Gordon deposits and appraise the Burnt Timber and Linkwood deposits, which contain inferred mineral resources totaling 1.6 million ounces with a grade of 1.1 g/t Au as of December 31, 2022.

Alamos said it also aims to develop a range of potential exploration targets within the property, including the Toulon Gardens discovery and Maynard target.

An updated feasibility study is expected to be completed during the first half of 2023.