Mexico-focused Minera Alamos Inc (CVE:MAI) saw shares tick higher as it posted more decent drill assays from the Santana gold project.
As reported last week, this year's programme of ten holes is the first exploration drilling at the project since 2011, and the first three holes all encountered disseminated gold mineralisation.
The latest drill highlights, which are from the extension of the Nicho main zone, included 80.4 m (meters) of 1.05 g/t (grams per ton) gold in one hole, and 8 m of 1.0 g/t gold in another.
"The recent drill results continue to demonstrate the potential for growth of the mineralisation contained within the Nicho deposit and we expect these results to have a positive impact on the ongoing pit design, said Darren Koningen, CEO of Minera Alamos.
"While we continue to expand the footprint of the Nicho zone we also look forward to pending drill results from new areas to the north of the proposed open pit".
The Phase 1 drilling program has now concluded with the completion of ten holes totalling around 1500m.
"The remaining holes yet to be reported include further testing of the southwest extensions of the Nicho deposit, as well as areas to the north of the Nicho zone.
Planning of the Phase 2 drill program will begin once the remaining drilling results have been received and interpreted.
Minera Alamos shares added 4.17% to stand at $0.125 in Toronto.