Alexandria Expands West Zone by 100m With Wide Gold-Copper Intersections
25 Noviembre 2013 - 10:47AM
Marketwired Canada
Alexandria Minerals Corporation (TSX VENTURE:AZX) (FRANKFURT:A9D)
(PINKSHEETS:ALXDF) reported today on assay results from two step-out drill holes
completed approximately 100 m below the Current Resource at the West Zone,
including DDH IAX-13-238 which intersected 112.80 m grading 0.37 g/t Au + 0.23%
Cu (0.76 g/t Au Eq).
Core logs and assay results from the two holes (see Table 1 below) show that the
wide deformation and alteration zone characteristic of the West Zone continues
to at least 400 m vertical depth. Copper sulfides (principally chalcopyrite),
pyrite and gold are typically finely disseminated over the width of the zone,
which averages some 60 m wide, but can be as much as 100 m wide. In addition,
numerous moybdenite-bearing quartz veins were intersected in DDH IAX-13-238, an
effect of the nearby Callahan diorite intrusive body.
Table 1. Selected assay results from step-out drilling at the West Zone.
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Est'd
Depth Core True
From Depth Length Width Au Ag Mo Au Eq
Hole # (m) To (m) (m) (m) (g/t) (g/t) Cu% (ppm) (g/t)
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IAX-13-237 426.50 510.00 83.50 58.21 0.32 0.78 0.17 40.68 0.62
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including 429.50 450.00 20.50 14.22 0.36 0.89 0.26 31.46 0.80
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including 487.00 500.00 13.00 9.10 0.41 0.83 0.18 45.35 0.71
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including 491.00 495.00 4.00 2.80 0.49 0.89 0.23 75.35 0.90
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including 505.00 509.00 4.00 2.81 0.64 0.75 0.19 5.08 0.97
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IAX-13-238 311.50 424.30 112.80 65.54 0.37 0.83 0.23 94.49 0.76
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including 312.50 375.00 62.50 35.70 0.38 1.11 0.32 124.29 0.94
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including 349.30 354.30 5.00 2.90 0.70 2.16 0.58 360.10 1.70
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including 361.30 366.30 5.00 2.94 0.66 1.72 0.44 184.34 1.43
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including 390.00 399.00 9.00 5.34 0.60 0.58 0.16 138.02 0.89
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including 393.00 398.00 5.00 2.96 0.80 0.73 0.20 86.95 1.14
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Note: Au Eq is Gold Equivalent, equal to the grade of gold plus the grade of
copper where the copper grade has been converted to a gold grade of
equivalent value based on gold price of $1325/oz. and copper price of
$7.40/kg
The West Zone was initially discovered in mid-2012, after the Company issued its
first National Instrument 43-101 compliant Resource estimate in (see Press
Release March 27, 2012), through step-out drilling along strike west of the
Current Resource in the Akasaba Mine area. The Company completed 17,723 m of
drilling in the zone, and filed an updated resource estimate, which included the
West Zone, on SEDAR in March of 2013. The subsequent resource estimate
represented an increase of 9% for the Indicated Resources and a 263% increase in
the Inferred Resources in less than 1 year. Current Resources now stand as shown
in Table 2 below.
Alexandria is currently drilling a 10,000 m program, with focus on step-out
drilling on its Akasaba and adjacent properties. The principal aim of this
program is to test shallow to medium depth Akasaba-like targets on the Company's
Akasaba and Valdora projects, as well as further afield. Digitization of
historical data has allowed Company geologists to prioritize drill targets on
the broader Cadillac Break property package. Seven (7) drill holes have been
already drilled for a total of 3,600m. Assays are pending for five (5) of those
holes. A remaining 3,145m should be drilled before year's end.
Table 2. National Instrument 43-101 compliant resources at Akasaba, including
the West Zone (from March, 2013, by QP Christain d'Amours of Geopointcom)
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Indicated Resources Inferred Resources
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Au Grade Contained Au Grade
Zone Tonnage (g/t) Gold (oz.) Tonnage (g/t)
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Underground 653,929 5.79 121,657 1,537,973 5.51
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Main Pit(1) 3,009,214 1.37 132,475
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Satellite Pit(1) 285,374 1.76
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West Zone Pit 14,863,740 0.69
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Totals 254,132
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Inferred Resources
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Cu value Total Au
Contained Cu Grade Contained in Au Eq Eq (oz.)
Zone Au (oz.) (%) Cu (Kg) (oz.)(1) (Au+Cu)(2)
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Underground 272,385 272,385
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Main Pit(1)
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Satellite Pit(1) 16,153 16,153
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West Zone Pit 332,074 0.41 61,255,885 342,108 674,182
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Totals 620,612 61,255,885 342,108 962,720
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Notes:
(1) Copper has been converted to an equivalent amount of gold ounces (Au
Eq, Gold Equivalent) using a copper price of $7.40/kg and a gold price
of $1,325/oz.
(2) Total Au Eq equals contained gold ounces plus copper expressed as
described in note 1.
In other matters, Alexandria's management and Board of Directors wishes to thank
Declan Costelloe, who was not re-elected as a Board Member at the Company's
Annual General Meeting in October, for several years of diligent work and effort
for the Company. Mr. Costelloe was an early Board member and shareholder of
Alexandria Minerals, joining the board before the Company's IPO in 2006.
Management and the Board wish him well in his endeavors.
Program design, management, and Quality Control/Quality Assurance are governed
by Alexandria's exploration group of which Peter Legein, P.Geo, is the Company's
Qualified Person. Mr. Legein has reviewed the results in this press release. All
exploration work on the property is conducted under the direct supervision of
Emilie Batailler P.Geo. The QA/QC program is consistent with NI 43-101 and
industry best practices and has been previously addressed in the NI 43-101
Technical Report on the Cadillac Break properties (February 2008) as well as in
subsequent NI 43-101 reports found on the Company's website or on www.sedar.com.
Further information about the Company is available on the Company's website,
www.azx.ca, or our social media sites listed below:
Facebook:
https://www.facebook.com/pages/Alexandria-Minerals-Corporation-AZXTSXV/186115074772628
Twitter: https://twitter.com/azxmineralscorp
YouTube: http://www.youtube.com/AlexandriaMinerals
Flickr: http://www.flickr.com/alexandriaminerals/
About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold exploration and
development company with one of the largest portfolio of properties along the
prolific, gold-producing Cadillac Break in Val d'Or, Quebec. Global gold
resources are distributed between three projects on its Cadillac Break Property
package, Akasaba, Sleepy, and Orenada, the details of which can be found on the
Company's website at www.azx.ca. The Company is currently focused on advancing
its Akasaba project. Agnico-Eagle Mines Ltd., with two producing gold mines in
the region, owns roughly 10% of the Company.
WARNING: This News Release may contain forward-looking statements including but
not limited to comments regarding the timing and content of up-coming work
programs, geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address future
events and conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently anticipated in such
statements. Alexandria Minerals Corporation relies upon litigation protection
for forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Alexandria Minerals Corporation
Eric Owens, PGeo
President/CEO
416-363-9372
info@azx.ca
www.azx.ca
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