Alamos rises on positive exploration results at Mulatos satellite deposits

The TSX-listed stock of Canadian gold producer Alamos Gold on Monday rose nearly 12% after it reported positive exploration results on the 100%-owned La Yaqui and Cerro Pelon satellite deposits, located near the Mulatos mine, in Mexico. The Toronto-headquartered company advised that the compliant resources at La Yaqui had grown by 93% to 536 000 oz, including the original 89 000 oz reserve, and that the average resource grade rose 5.6% to 1.5 g/t (undiluted). This compares well with the average Mulatos oxide reserve grade of about 0.9 g/t (diluted).