Alexandria
Intersects 21.37 g/t Gold over 4.05 m on Orenada Property, Val d'Or
Toronto,
Ontario - March 29, 2007 - Alexandria Minerals Corporation (TSX-V: AZX;
Frankfurt: A9D) reports that it
intersected high-grade gold zones in two holes drilled 375 metres apart along
the Cadillac Break at the Orenada Property, Val d'Or, Quebec. Diamond Drill Hole (DDH) AAX-07-12,
intersected 12.55 meters (core length) grading 7.90 g/t gold, including a
4.05 meter wide zone (core length) grading 21.37 g/t gold containing visible
gold, and DDH AAX-07-11 intersected 25.60 m grading
2.89 g/t gold. Estimated true widths are given in the table below.
Assay results from
DDH AAX-07-10, 11, and 12 suggest that historic gold mineralization at both the
Orenada #2 and Orenada #4 Zones (See Figure 1 below) may be more extensive than
previously tested by past exploration. In addition, these drill holes are
located 1.5 to 2 km west along the Cadillac Break from the new discovery reported in DDH AAX-07-9 (Alexandria Press Release March 27, 2007) which intersected 1.97 g/t gold over 10.18 m, continuing the exploration successes the
Company is having over this portion of the Cadillac Break.
Figure 1. Location map and summary
of new results, Orenada Claims, Val d'Or.
DDH hole AAX-07-10,
which pierced 200 meters down dip from historic drill holes just east of Orenada
#2, intersected 23.35 meters grading 0.48 g/t gold, and an additional, higher
grade gold zone of 4.20 meters grading 2.98 g/t gold. Infill
sampling will be carried out to complete the sampling between mineralized
sections.
DDH hole AAX-07-11,
drilled 30 m down dip from known mineralization at Orenada #2, intersected 12.60
m grading 5.29 g/t gold as part of the larger zone reported above, in addition
to a separate zone 8.50 m wide grading 1.16 g/t gold. Gold in both holes 10 and
11 is hosted by deformed, silicified sedimentary rocks with quartz-carbonate
veins, pyrite and arsenopyrite. Orenada #2 is open along strike and at
depth.
Drill hole AAX-07-12
was drilled 30m east of the nearest hole on the Orenada #4 Zone, intersecting
the zone at about the 200m depth. Gold is associated with silica, biotite,
sericite, quartz-carbonate veins, pyrite and arsenopyrite. The results at
depth from the holes AAX-07-10, 11 and 12 are extremely positive, and this
provides management with encouragement to explore these targets at depth,
eventually with a second drill.
The Orenada #4 zone
was discovered by Aur Resources Inc. in the late 1980's, and estimated by them
in 1990 to contain 2.1 million tonnes grading 1.47 g/t gold. As an historic
resource, the deposit is not a Current Resource as defined in National
Instrument 43-101, and the data cannot be relied upon, as a Qualified Person
(QP) has not reviewed in detail the historic data. The Company currently views
it only as an advanced exploration target.
The table below
summarizes the results from the recent Alexandria holes:
Hole
|
From
(m) |
To
(m)
|
Core
Length (m) |
Estimated True Width (m) |
Au
g/t
|
AAX-07-10 |
289.00 |
293.95 |
4.95 |
4.06 |
0.89 |
|
300.65 |
324.00 |
23.35 |
19.15 |
0.48 |
|
329.15 |
330.40 |
1.25 |
1.02 |
1.68 |
|
333.30 |
346.50 |
13.20 |
10.82 |
0.35 |
|
352.40 |
360.45 |
8.05 |
6.60 |
0.24 |
|
363.70 |
372.30 |
8.60 |
7.05 |
1.65 |
incl. |
363.70 |
367.90 |
4.20 |
3.44 |
2.98 |
|
379.85 |
383.70 |
3.85 |
3.16 |
2.06 |
|
388.10 |
390.20 |
2.10 |
1.72 |
5.66 |
|
432.35 |
433.10 |
0.75 |
0.61 |
2.79 |
|
|
|
|
|
|
AAX-07-11 |
46.90 |
101.00 |
54.10 |
38.72 |
0.54 |
incl. |
92.20 |
98.00 |
5.50 |
4.15 |
1.20 |
|
134.40 |
160.00 |
25.60 |
18.32 |
2.89 |
incl. |
135.40 |
148.00 |
12.60 |
9.02 |
5.29 |
|
183.70 |
192.20 |
8.50 |
6.08 |
1.16 |
incl. |
183.70 |
186.20 |
2.50 |
1.79 |
2.79 |
|
|
|
|
|
|
AAX-07-12 |
100.00 |
103.50 |
3.50 |
2.09 |
0.48 |
|
208.90 |
212.10 |
3.20 |
1.91 |
0.56 |
|
255.75 |
268.30 |
12.55 |
7.48 |
7.90 |
incl. |
255.75 |
259.80 |
4.05 |
2.41 |
21.37 |
and
|
257.70 |
258.20 |
0.50 |
0.30 |
88.70 |
|
275.60 |
280.85 |
5.25 |
3.13 |
1.88 |
incl. |
277.10 |
280.85 |
3.75 |
2.23 |
2.34 |
Alexandria is
earning a 50% interest in the Orenada and 9 other properties in the area from
Aur Resources Inc. by incurring exploration expenditures of $3 million and
paying $500,000 in cash/shares over a five year period to July 2011. The Company
can earn an additional 50% by completing further expenditures of $5 million by
July 2014. The Company is aggressively exploring for gold on its Val d'Or
properties and has completed approximately 3,800 m of drilling of the 15,000 m
program in 2007. Drilling continues on the Bloc Sud West property, about 6
kilometers east of the Oramaque property, where it is testing coincident geophysical and geochemical anomalies on and near the Cadillac Break. Additional
drilling details can be viewed by
visiting the Company's website at www.azx.ca or with the link
http://www.azx.ca/currentdrilling.asp.
The results
presented in this press release are exploratory in nature and have been reviewed
by the company's Qualified Person, Eddy Canova, PGeo. The properties
do not contain current mineral resources as outlined by National
Instrument 43-101 Standards for Disclosure for Mineral Projects, nor does the
Company intend to communicate such. More drilling will be required to bring the
properties into compliance with definitions of resources as delineated by
NI-43-101 standards.
The drilling
program employs a Quality Assurance/Quality Control program consistent with NI
43-101 and industry best practices. Drill core is NQ-sized, and is logged,
sampled and split at the Company's Val d'Or office, in intervals of 0.3 meters
to a maximum of 1.5 meters. The samples are recorded, bagged and sent to Bourlamaque Assay Lab in Val-d'Or for assay. Samples are analyzed for Au, Ag, Cu
and Zn, via a 30 gram pulp by FAA for Au and AA for Ag, Cu and Zn. Re-assays by FA gravimetric
finish are performed on samples assaying greater than 1.0 g/t Au and re-assays
greater than 5.0 g/t Au are checked a second time by FA gravimetric
finish.
WARNING: The
Company relies upon litigation protection for "forward-looking"
statements. 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
PLEASE
CONTACT
Coal
Harbor Communications
Dale Paruk, President
Suite
701, 555 Jervis Street
Vancouver
BC Canada V6E 4N1
dale@coal-harbor.com
Tel:
1+ (604) 662-4505
Fax:
1+ (604) 662-4547
Toll-free:
1+ (877) 642-6200 |
Alexandria
Minerals Corporation
Tel:
1+ (416) 363-9372
www.azx.ca |
The TSX Venture Exchange does not
accept responsibility for the adequacy or accuracy of this release.