Gold: US$2,646.17 US$0.00
CAD$3,719.60 CAD$0.00
CSE: NBRK
Last: 0.065
Change: -0.01
Vol: 11,000

Overview

Moray Gold Project – Overview

The 100% owned Moray Gold Project ("Moray") is located approximately 49 km southeast of Timmins, Ontario, within Zavitz, Hincks and Hutt Townships and encompasses approximately 10,338 hectares.

Moray Gold Project Map

Moray is situated in the world-class Abitibi greenstone belt of northeastern Ontario with the Property having compelling drill intersections of gold mineralization that have never been followed up.  It is accessible by highway and all-weather gravel logging roads south from Timmins or via Hwy 566 west from the town of Matachewan and is within trucking distance to multiple producing mines and mills.

Moray Property Location and Accessibility

The Young-Davidson Gold Mine, operated by Alamos Gold Inc. ("Alamos"), is located approximately 32 km southeast of Moray. First discovered in 1916, the mine produced one million ounces of gold from 1934 to 1957 from open pit and underground development. Commercial production resumed in 2012. The Young-Davidson Mine produced 195,000 ounces of gold in 2021, 192,200 in 2022 and 185,100 in 2023. Alamos has forecast 2024, 2025 and 2026 gold production to be 185,000 to 195,000 ounces at total cash costs of US$950 - US$1,000 per ounce and all in sustaining costs of US$1,175 to US$1,225 per ounce, providing annual free cash flow in excess of US$100 million, at US$1,800 gold. As at December 31, 2023, the Young-Davidson Mine had NI 43-101 compliant Mineral Reserves of approximately 3.261 million ounces contained in 43.911 million tonnes at an average grade of 2.31 g/t Au at a gold price of US$1,400 per ounce and a cut-off grade of 1.59 g/t Au (Source:  www.alamosgold.com Mineral Reserve and Resource Statement dated December 31, 2023). The estimated Mineral Reserves and Mineral Resources are hosted in volcanic rocks and altered syenite.

Subscribe to our Newsletter