Stock Monitor: Vista Gold Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 09, 2018 / Active-Investors.com has just released a free research report on Alio Gold Inc. (NYSE: ALO). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ALO as the Company's latest news hit the wire. On March 07, 2018, the Company provided a detailed update about its exploration program at its Ana Paula Project in Mexico. The Company owns 100% of the Ana Paula, a high-grade development-stage gold project located in the prolific Guerrero Gold Belt of Mexico. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Vista Gold Corp. (NYSE AMER: VGZ), which also belongs to the Basic Materials sector as the Company Alio Gold. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Alio Gold most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Sharing the details on the exploration program, Greg McCunn, CEO of Alio Gold, said:
"The discovery of two new breccia targets outcropping at surface and within close proximity to the existing Mineral Resource is an exciting development and shows the potential of our 56,000-hectare land package. The surface drilling to test the known extension of the breccia below the proposed pit is designed to allow us to more fully understand the nature and extent of the mineralization ahead of drilling from underground."
Results of Regional Exploration
Alio Gold has been conducting higher resolution (1:5,000 scale) geological mapping of the areas surrounding the Ana Paula deposit as a part of its ongoing regional explorations. While conducting the mapping towards the west, two breccia outcrops were discovered located within 1.5 kilometers from the Ana Paula deposit. These two breccia targets in the west are outcroppings of magmatic and hydrothermal breccia mineralization with traces of pyrite and arsenopyrite. The Company is undertaking further exploration in the area including sampling, mineralogy, and more detailed mapping.
Results of Surface Drilling Program
The Company is undertaking exploration at the Ana Paula with two main objectives, one is to further delineate the known extension of the high-grade breccia mineralization below the proposed open pit and the second is to test a lower-grade hydrothermal breccia structure lying south of the proposed pit. Alio Gold had initiated a 3,800-meter diamond drilling program in January 2018 with the aim of drilling six holes of 600 meters to 700 meters each.
Since then the Company has used one drill rig and has completed the drilling of the first two holes and the third hole is currently being drilled. So far it has completed total drilling of over 1,300 meters. The first hole intersected the hydrothermal breccia system over a mineralized interval of approximately 180 meters and the higher grade complex breccia below the proposed pit over a 27-meter interval. Similarly, the second hole also intersected the hydrothermal breccia over approximately 177 meters and the complex breccia over a 31-meter interval. The Company plans to share the results of the analysis once they complete the drilling in the south in Q1 2018 after which it plans to move the drilling to the North Area target.
Progress in the Decline Construction and Underground Drilling Program
Alio Gold plans to conduct further tests in Q3 2018 on the extension of the high-grade breccia system below the proposed pit from drilling underground. At present the Company is working on the construction of a 1,200-metre underground decline which is being driven from a portal site located in the adjacent valley from the proposed pit and approximately 400 meters from the proposed mill site. the Company is confident that it would have made significant advancement in the underground decline by Q3 2018 that it can initiate the first phase of the underground diamond drill program. The drill program is expected to confirm the continuity and shape of the high-grade gold mineralization below the proposed pit that is hosted in the breccia and it will also explore the gold mineralization indications at depth hosted in hornfels skarn, typical of the Guerrero Gold Belt. The proposed underground drilling program plans for 55 diamond drill holes (12,000 meters).
The Company's mining contractor is preparing the portal site with bolting, screening, and shotcreting. Alio Gold has arranged for mining equipment including a jumbo drill rig, scoop and two trucks, expected to arrive within the next week. In the meanwhile, the Company is mining using jack-leg drilling. Alio Gold has revealed that the mining operations are being conducted on a 24/7 basis.
Alio Gold is building support infrastructure including a 100-person camp site fully prepared for the arrival of the modular units. Additionally, the Company is installing power lines between the camp and the mine portal areas and building a communications tower which will be operational in Q2 2018.
About Alio Gold Inc.
Vancouver, British Columbia-based Alio Gold is a Canadian gold mining company focused on exploration, development, and production in Mexico. Its principal assets include the producing San Francisco gold mine in Sonora, Mexico, and the development-stage Ana Paula Project in Guerrero, Mexico. The Company also has several other exploration properties all located in Mexico, including the Ejutla silver-gold project in Oaxaca State.
Stock Performance Snapshot
March 08, 2018 - At Thursday's closing bell, Alio Gold's stock declined 2.71%, ending the trading session at $2.51.
Volume traded for the day: 108.40 thousand shares.
After yesterday's close, Alio Gold's market cap was at $109.62 million.
Price to Earnings (P/E) ratio was at 8.37.
The stock is part of the Basic Materials sector, categorized under the Gold industry.
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