Alexandria Drills 142.50 g/t Gold Over 0.3 m in Its Winter Exploration Drill Program, Val D'or
20 Febrero 2014 - 9:10AM
Marketwired
Alexandria Drills 142.50 g/t Gold Over 0.3 m in Its Winter
Exploration Drill Program, Val D'or
TORONTO, ONTARIO--(Marketwired - Feb 20, 2014) - Alexandria
Minerals Corporation (TSX-VENTURE:AZX) (FRANKFURT:A9D)
(PINKSHEETS:ALXDF) is pleased to report on its winter exploration
activities, including assay results from its recent drill program
on the Akasaba and adjacent Valdora properties.
Winter activities
have included:
- a 9,328 m drill program on the Akasaba and adjacent Valdora
projects;
- Induced Polarization ("IP") geophysical survey of approximately
79 line-km (744 ha) in the area located east and north of the
Akasaba Mine; and
- a down-hole, hole-to-hole IP survey completed below the Akasaba
Mine site to aid in targeting deeper high grade mineralization in
this zone.
Assays analysis from
8 holes and final results from all of the geophysical surveys are
pending.
Results of the
Valdora-Akasaba drill program are presented in detail in Table 1
and Table 2 below. Highlights of this drill program include the
following significant drill results:
- 5.29 g/t Au over 4.00 m, including 19.20 g/t Au over 1.00 m, in
hole IAX-13-245, which expands the high grade zone at 350 m depth
below the Akasaba Mine, and
- 2.81 g/t Au over 16.80 m, including 142.50 g/t Au over 0.30 m,
in hole VAX-13-005, as part of Alexandria's first significant drill
program on the Valdora project, located immediately north of the
Akasaba project.
Eric Owens,
President and CEO of Alexandria, stated, "This is a great first
step towards gaining an understanding of the size potential of the
broader Akasaba geologic system since selling to Agnico Eagle 14
mining claims located in the West Zone Au-Cu Property. We strongly
believe there is considerably more gold to be found, as our
underlying geology is similar to that found under the
Bousquet-Doyon-LaRonde District where some 26 million ounces of
gold have been mined. Our winter drill and geophysical programs are
aimed at helping to plan for the future discovery of more gold
within that system."
Alexandria's recent
drill program focused on two (2) areas underlying the Akasaba
property and three (3) zones underlying Valdora. On Akasaba, one
hole (IAX-13-245) tested the main Mine Horizon 350 m vertical depth
below surface beneath the Akasaba Mine and intersected 5.29 g/t Au
over 4.00 m of core length, or 2.68 m TW (see assay Table 2 below),
thus expanding the Mine Horizon mineralization. Alexandria's
current Akasaba Mine resources are listed below:
Table 1: Current Resource Estimate at Akasaba (NI
43-101 Compliant) |
|
Resources |
Tonnes |
Grade |
InSitu Oz Gold |
Recovered Oz Gold |
Underground Indicated |
609,300 |
5 .93 |
116,240 |
106,940 |
Underground Inferred |
1,475,600 |
5 .58 |
264,960 |
243,760 |
Main Pit Indicated |
3,009,200 |
1 .37 |
132,550 |
121,950 |
Satellite Pit Inferred |
219,900 |
1 .93 |
13,640 |
12,550 |
|
Table
1 Notes |
|
1. |
Mineral resources reported are recalculated from the National
Instrument ("NI") 43-101 compliant resources reported on March 27th
2012 (Main and Satellite Pits) and February 7th, 2013 (Underground)
without including resources that were encompassed on the 14 claims
sold to Agnico Eagle on January 13th, 2014. Recalculation has been
reviewed by Christian D'Amours of Geopointcom in Val d'Or, QC. |
2. |
Mineral resources which are not mineral reserves have not
demonstrated economic viability. The estimate of mineral resources
may be materially affected by environmental, permitting, legal,
title, taxation, sociopolitical, marketing, or other relevant
issues, although the Company is not aware of any such issues. |
3. |
The
quantity and grade of reported inferred resources in this
estimation are uncertain in nature and there has been insufficient
exploration to define these inferred resources as an Indicated or
Measured mineral resource and it is uncertain if further
exploration will result in upgrading them. |
4. |
The
mineral resources were estimated using the Canadian institute of
Mining, metallurgy and Petroleum (CIM), CIM Standards on mineral
Resources and Reserves, Definitions and Guidelines prepared by the
CIM Standing Committee on Reserve Definitions and adopted by CIM
Council. |
5. |
Assumptions for the Resource Calculation for Underground: (a) Gold
Price, $1,325/oz., (b) Cut-off Grade, Underground, 2.25 g/t Au,
Open-pit, 0.5 g/t, (c) Bulk Density, Mine area underground and open
pits, Specific Gravity 2.8; (d) Minimum true width, Underground,
2.5 m, all Open Pits, 5m, (e) Blasting/Mucking costs, Underground,
$68/tonne, Open-Pit, $5.75/tonne, (f) Milling Costs, $12/tonne, (g)
Overburden removal costs, $3/cubic meter, (h) Open pit shell
optimized for best revenue, (i) Geostatistical analysis indicate no
grade capping is necessary, (j) recovered ounces are based on 92%
recovery. |
Elsewhere on
Akasaba, two (2) pre-existing holes were deepened by approximately
300m and 7 new holes were drilled to test the eastern portions of
the North Zone over a 1 km strike length. The North Zone has
similar geology to the main Mine Horizon, is subparallel to the
latter, and located 150m to 200m to the north. All holes
intersected a large sequence of interbedded mafic and intermediate
flows and pyroclastics mineralized with disseminated sulphides
associated with low grade gold mineralization, confirming the
potential for near-surface bulk tonnage targets. One hole,
IAX-13-250, intersected 23.60 g/t Au over 0.65 m. Assay results are
pending for 4 holes.
Table 2. Selected significant assay results on the
Akasaba Property |
|
Hole Number |
From (m) |
|
To (m) |
Core Length (m) |
True Width (m) |
|
Au (g/t) |
|
Ag (g/t) |
|
Cu (%) |
Location |
IAX-10-70 |
400.80 |
|
411.50 |
10.70 |
8.36 |
|
0.53 |
|
0.25 |
|
0.04 |
North Zone |
Including |
403.60 |
|
410.60 |
7.00 |
5.47 |
|
0.71 |
|
0.25 |
|
0.02 |
North Zone |
Including |
406.80 |
|
410.00 |
3.20 |
2.50 |
|
0.98 |
|
0.25 |
|
0.04 |
North Zone |
IAX-10-70 |
565.80 |
|
571.80 |
6.00 |
4.80 |
|
0.45 |
|
0.39 |
|
0.02 |
North Zone |
IAX-09-53 |
486.10 |
|
503.00 |
16.90 |
11.34 |
|
0.28 |
|
0.33 |
|
0.02 |
North Zone |
Including |
486.10 |
|
490.80 |
4.70 |
3.15 |
|
0.33 |
|
0.38 |
|
0.02 |
North Zone |
Including |
498.25 |
|
502.00 |
3.75 |
2.52 |
|
0.71 |
|
0.46 |
|
0.04 |
North Zone |
IAX-09-53 |
550.00 |
|
551.00 |
1.00 |
0.68 |
|
2.45 |
|
3.10 |
|
0.35 |
North Zone |
IAX-09-53 |
589.50 |
|
594.40 |
4.90 |
3.35 |
|
0.55 |
|
0.25 |
|
0.01 |
North Zone |
IAX -09-53 |
629.20 |
|
645.85 |
16.65 |
11.46 |
|
0.43 |
|
0.49 |
|
0.03 |
North Zone |
IAX-13-249 |
59.35 |
|
69.95 |
10.60 |
6.21 |
|
0.17 |
|
0.30 |
|
0.01 |
North Zone |
IAX-13-249 |
102.15 |
|
111.30 |
9.15 |
5.39 |
|
0.17 |
|
0.73 |
|
0.05 |
North Zone |
IAX-13-249 |
130.50 |
|
159.00 |
28.50 |
16.93 |
|
0.20 |
|
0.25 |
|
0.00 |
North Zone |
IAX-13-249 |
228.40 |
|
228.80 |
0.40 |
0.24 |
|
1.09 |
|
0.25 |
|
0.07 |
North Zone |
IAX-13-250 |
13.95 |
|
15.50 |
1.55 |
1.19 |
|
0.71 |
|
0.25 |
|
0.00 |
North Zone |
IAX-13-250 |
44.50 |
|
57.50 |
13.00 |
10.02 |
|
0.23 |
|
0.25 |
|
0.02 |
North Zone |
IAX-13-250 |
61.50 |
|
66.50 |
5.00 |
3.86 |
|
0.23 |
|
0.25 |
|
0.01 |
North Zone |
IAX-13-250 |
91.50 |
|
100.50 |
9.00 |
6.95 |
|
2.12 |
|
0.36 |
|
0.01 |
North Zone |
Including |
92.00 |
|
96.00 |
4.00 |
3.08 |
|
4.53 |
|
0.50 |
|
0.02 |
North Zone |
Including |
93.00 |
|
93 .65 |
0 .65 |
0 .50 |
|
23.60 |
|
1 .80 |
|
0 .04 |
North Zone |
IAX-13-250 |
105.90 |
|
107.45 |
1.55 |
1.22 |
|
0.60 |
|
9.87 |
|
0.39 |
North Zone |
IAX-13-245 |
434.10 |
|
446.20 |
12.10 |
8.09 |
|
0.46 |
|
0.35 |
|
0.03 |
Main Mine |
IAX-13-245 |
468.10 |
|
471.00 |
2.90 |
1.89 |
|
0.69 |
|
2.56 |
|
0.12 |
Main Mine |
IAX-13-245 |
478.20 |
|
495.70 |
17.50 |
11.79 |
|
0.35 |
|
0.74 |
|
0.07 |
Main Mine |
IAX-13-245 |
499.70 |
|
507.50 |
7.80 |
5.23 |
|
2.79 |
|
0.75 |
|
0.03 |
Main Mine |
Including |
502 .50 |
|
506 .50 |
4 .00 |
2 .68 |
|
5.29 |
|
0 .91 |
|
0 .01 |
Main Mine |
Including |
503 .50 |
|
504 .50 |
1 .00 |
0 .67 |
|
19.20 |
|
2 .90 |
|
0 .02 |
Main Mine |
This winter drill
program included eight (8) drill holes on the Valdora property just
north of Akasaba. Three subparallel zones were tested at shallow
level with 100m to 200m spaced holes for both low grade gold
mineralization associated with disseminated sulphides in volcanics
and high grade gold in quartz-tourmaline veins in felsic and mafic
intrusives. Visible Gold in mms size quartz-carbonate vein was
intersected in a Quartz Feldspar Porphyry with fine disseminated
pyrite in drill hole VAX-13-005 which returned 142.5g/t Au over
0.30m. Assays are pending for four (4) drill holes which
intersected mafic volcanics from the Heva Formation displaying
alteration and mineralization styles similar to the Akasaba main
zone.
Table 3. Selected significant assay results on the
Valdora Property |
|
Hole Number |
From (m) |
|
To (m) |
Core Length (m) |
True Width (m) |
Au (g/t) |
|
Ag (g/t) |
|
Cu (%) |
Location |
VAX-13-002 |
68.30 |
|
72.80 |
4.50 |
3.23 |
0.27 |
|
1.29 |
|
0.11 |
Valdora |
VAX-13-002 |
88.20 |
|
91.30 |
3.10 |
2.20 |
0.45 |
|
0.55 |
|
0.04 |
Valdora |
VAX-13-002 |
152.70 |
|
155.90 |
3.20 |
2.23 |
0.17 |
|
0.25 |
|
0.02 |
Valdora |
VAX-13-003 |
35.90 |
|
38.50 |
2.60 |
1.94 |
1.80 |
|
1.06 |
|
0.18 |
Valdora |
Including |
36.40 |
|
37.85 |
1.45 |
1.08 |
3.15 |
|
1.70 |
|
0.32 |
Valdora |
VAX-13-004 |
101.30 |
|
102.50 |
1.20 |
0.90 |
0.33 |
|
2.05 |
|
0.08 |
Valdora |
VAX-13-004 |
107.00 |
|
107.50 |
0.50 |
0.37 |
0.27 |
|
0.70 |
|
0.02 |
Valdora |
VAX-13-004 |
114.50 |
|
116.00 |
1.50 |
1.11 |
0.13 |
|
0.50 |
|
0.00 |
Valdora |
VAX-13-004 |
167.00 |
|
167.80 |
0.80 |
0.60 |
0.83 |
|
0.60 |
|
0.01 |
Valdora |
VAX-13-005 |
264.20 |
|
265.70 |
1.50 |
1.04 |
0.67 |
|
0.71 |
|
0.06 |
Valdora |
VAX-13-005 |
302 .00 |
|
302.50 |
0.50 |
0.35 |
0.52 |
|
0.38 |
|
0.09 |
Valdora |
VAX-13-005 |
334.20 |
|
351.00 |
16.80 |
11.82 |
2.81 |
|
0.31 |
|
0.00 |
Valdora |
Including |
339.20 |
|
343.00 |
3.80 |
2.66 |
11.94 |
|
0.29 |
|
0.00 |
Valdora |
Including |
339.20 |
|
339.50 |
0.30 |
0.21 |
142.50 |
|
0.75 |
|
0.00 |
Valdora |
Alexandria is
currently conducting a 4000m drilling campaign with nine (9) drill
holes on its Sleepy deposit. One hole will be testing the extension
of the mineralized zone west of fault along flat plunge from
SAX-11-009 which intersected 6.82g/t Au over 16.96m TW at 430m
vertical depth. Three (3) drill holes will be testing deep target
100m to 300m below 2011-2013 Sleepy lake zone expansion. In 2013,
Alexandria extended the Sleepy lake zone approximately 200m below
current resources where SAX-13-025 intersected 6.65g/t Au and
0.15%Zn over 4.65m TW and 5.73g/t Au over 2.67m TW. The program
will also test shallow Sleepy lake-like targets along strike and
east from the deposit with five (5) 150m to 510m drill holes.
Current exploration
activities also include an Induced Polarization over significant
areas of the Company's Oramaque-Orenada-Ducros and
Annamaque-Sabourin properties (approximately 102 line km for 1046
ha). Surveys will focus upon the metamorphic aureole west of the
Callahan intrusive on the Annamaque-Sabourin properties, and upon
the contact between the Center Post Intrusive and volcanics from
the Heva formation around the Cadillac Break area on the
Orenada-Oramaque-Ducros properties. The latest is recognized to
host several gold and gold-copper indices as well as historical
mines such as the Mid-Canada and East Sullivan mines.
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.
Alexandria Minerals CorporationEric Owens,
PGeoPresident/CEO416-363-9372info@azx.cawww.azx.ca
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