TORONTO, July 11, 2012 /PRNewswire/ - Alexandria Minerals
Corporation (TSX-V: AZX) (Frankfurt: A9D) (US: ALXDF)
reported today on follow-up drill results from the newly-discovered
near-surface western gold zone on its 100% owned Akasaba project in
Val d'Or. Drill holes
IAX-12-200 and IAX-12-201 intersected
1.18 g/t Au over 118.80 m and 0.70 g/t Au over
144.90 m, respectively, 100 m below previously announced
holes.
The disseminated gold mineralization was
intersected between vertical depths of 50 and 140 m in the two
holes, wholly within Timiskaming metasedimentary rocks, a similar
geological environment to that found at Alexandria's Orenada gold deposit and Osisko
Mining's Malartic gold mine.
Eric Owens,
President and CEO of the Company, said, "This is our widest hole
yet with values over one gram of gold per tonne, proving that there
is much potential for new discoveries on this project as we step
out further from the Main Mine area. The holes completed to date in
this new zone will add considerable value to Akasaba, especially
with the notable copper values and the potential credits from them.
We expect further positive results with continued drilling."
Longitudinal Section at Akasaba showing
new results in the Western Zone in relationship to the Current
Resource in the Mine Area
Table 1. Selected assays from drill holes
IAX-12-200 and IAX-12-201.
| Hole # |
From (m) |
To (m) |
Length (m) |
True Width
(m) |
Au g/t |
Ag g/t |
Cu% |
| IAX-12-200 |
50.70 |
58.60 |
7.90 |
4.10 |
0.14 |
0.37 |
0.05 |
| IAX-12-200 |
65.60 |
76.60 |
11.00 |
5.75 |
0.17 |
0.69 |
0.10 |
| IAX-12-200 |
148.60 |
267.40 |
118.80 |
63.01 |
1.18 |
3.04 |
0.70 |
| including |
152.60 |
165.40 |
12.80 |
6.79 |
3.35 |
10.10 |
2.72 |
| and |
214.40 |
219.40 |
5.00 |
2.64 |
2.28 |
1.80 |
0.36 |
| IAX-12-200 |
288.30 |
298.50 |
10.20 |
5.49 |
0.33 |
2.72 |
0.26 |
| including |
288.30 |
293.50 |
5.20 |
2.80 |
0.55 |
3.45 |
0.41 |
| IAX-12-200 |
316.50 |
327.30 |
10.80 |
5.82 |
0.67 |
1.04 |
0.09 |
| including |
321.40 |
326.30 |
4.90 |
2.64 |
1.20 |
1.10 |
0.11 |
| IAX-12-201 |
85.50 |
230.40 |
144.90 |
87.53 |
0.70 |
1.99 |
0.38 |
| including |
161.00 |
229.40 |
68.40 |
41.78 |
1.10 |
2.98 |
0.55 |
| and |
161.00 |
201.00 |
40.00 |
24.29 |
1.12 |
3.27 |
0.58 |
| and |
190.00 |
195.00 |
5.00 |
3.04 |
2.61 |
3.08 |
0.53 |
| and |
214.00 |
228.60 |
14.60 |
9.01 |
1.95 |
3.99 |
0.91 |
| and |
217.00 |
222.00 |
5.00 |
3.08 |
2.27 |
3.58 |
0.87 |
In addition to the gold contents, all five of
the drill holes from the Western Zone are also enriched in silver
and copper. The significant intervals for the five holes comprising
the Western Zone, including that for the three holes released on
June 26, 2012 are summarized as
follows:
| Hole # |
Length (m) |
TW (m) |
Au g/t |
Ag g/t |
Cu% |
| IAX-11-184 |
12.40 |
9.51 |
1.17 |
4.11 |
0.55 |
| IAX-11-184 |
6.60 |
5.07 |
2.08 |
4.02 |
0.80 |
| IAX-12-185 |
53.00 |
38.40 |
1.07 |
2.77 |
0.57 |
| IAX-12-194 |
74.70 |
52.85 |
1.26 |
2.80 |
0.64 |
| IAX-12-200 |
118.80 |
63.01 |
1.18 |
3.04 |
0.70 |
| IAX-12-201 |
144.90 |
87.53 |
0.70 |
1.99 |
0.38 |
The newly discovered Western Au-Cu-Ag Zone has
now been delineated to over 200 m long by 200 m deep, with an
average width of 50-60 m, and is open in all directions. The total
length of the Akasaba Mine Horizon gold zone now stands at more
than 1,600 m. Although the Western Zone occurs along the same
deformation corridor as the mineralization in the Akasaba Mine
area, the gold mineralization in the Western Zone differs from that
of the Mine area, as it is hosted in metasedimentary rocks, and is
governed less by distinct high grade veins, and more by
micro-millimeter scale veinlets providing for a disseminated
character to the mineralization.
Since announcing its first National Instrument
43-101 compliant Resource Estimate at Akasaba in March, 2012, the
Company has substantially expanded the known gold-bearing zone
through drilling, both at depth and along strike, adding more than
100 m depth to the deep high grade zone, and adding more than 500 m
length along strike. The Company's plans are to continue to focus
on Akasaba in its exploration efforts.
Program design, management, and Quality
Control/Quality Assurance is governed by Alexandria's exploration group, of which
Peter Legein, P.Geo, and
Eric Owens, P.Geo, are the Company's
Qualified Persons. Mr. Legein and Mr. Owens reviewed the
results in this press release. The QA/QC program is consistent with
NI 43-101 and industry best practices and has been previously been
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 portfolios 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.
SOURCE Alexandria Minerals Corporation
PDF available at:
http://stream1.newswire.ca/media/2012/07/11/20120711_C7572_DOC_EN_16179.pdf
