Alamos Gold (TSX:AGI; NYSE:AGI) announced on Monday that it has entered into a definitive agreement to acquire Orford Mining Corporation (TSXV:ORM).

The deal includes the Qiqavik gold project, located in Quebec.

Alamos will also be acquiring interests in several exploration stage critical mineral and gold projects in Quebec, including West Raglan, the Joutel Properties, and Nunavik Lithium.

The Qiqavik project is a camp scale property covering 438 square kilometres in the Cape Smith Belt in Nunavik, Quebec.

The Qiqavik Property covers the 40 km long Qiqavik Break, a major crustal-scale structure controlling gold mineralization on the belt. Early-stage exploration completed to date indicates that high-grade gold occurrences are controlled by structural splays off the Qiqavik Break, which extends along strike over the 40 km length of the project.

Orford commenced exploration on the project in 2016, and since that time has identified over 40 highly prospective targets across the previously underexplored property through mapping, prospecting, till sampling, geophysics, and limited drilling.

These targets include several high-grade boulder and gold grain-in-till trends, as well as outcrop gold showings across the property, according to Orford.

Shares of Alamos Gold rose 1.2% by 11:32 p.m. EDT. The miner has a market capitalization of C$6.85 billion ($5.09 billion).

Source: MINING.COM – Read More