TORONTO,
ONTARIO--(Marketwire - Oct. 8, 2009) - Alexandria Minerals Corporation
(TSX VENTURE:AZX)(FRANKFURT:A9D) reports today on the results of its
recent surface mapping and sampling programme on its Matachewan
property in Ontario, which includes a grab sample assaying 7.90 g/t Au.
The exploration programme sheds further light on the geological
environment in the southeastern part of the property, this portion of
which is held jointly with Carmax Explorations Inc. Of the 170 grab
samples taken over 8 claims, 4 assayed between 0.89 g/t Au and 7.90 g/t
Au, all occurring within syenite or at the contacts between syenite and
volcanic rocks. This geology is similar to that at the adjacent
Young-Davidson gold project of Northgate Minerals Corporation, which hosts
Proven and Probable Reserves of 2.8 million ounces of gold, principally
in syenite (see Northgate website).
This area of Alexandria's property is underlain mainly by interleaved
syenite and basaltic volcanic rocks and tuffs, with extensive potassic
alteration, quartz veining and pyrite. Strong coincident Induced
Polarization and magnetic anomalies further characterize the anomalous
area. Alexandria previously intersected 3 separate gold-bearing
intervals in a drill hole completed in early 2008, between 165.5 m and
191.0 m downhole, assaying 2.25 g/t Au over 6.0 m, 4.14 g/t Au over 1.5
m, and 5.34 g/t Au over 1.5 m (Press Release June 18, 2008).
Eric Owens, President of Alexandria, said, "During the past year
we have had encouraging success at several projects, including
Matachewan, across the breadth of our large Cadillac Break property
portfolio. We now have significant development options and we will
analyse all recent results in order to focus on the projects that have
the most potential."
Alexandria's Matachewan property is located along the Cadillac-Larder
Lake Break, about 3 km east of Northgate's Young Davidson gold project,
and about 40 km southwest of Kirkland Lake, Ontario, which has produced
some 33 million ounces of gold from mines such as the
Wright-Hargreaves, Kirkland Lake and Macassa mines, all near the
Cadillac-Larder Lake Break. In total, Alexandria's property extends for
10 km along the "Break" with several geophysical and
geological targets, as well as targets generated by past explorers,
which the Company will be evaluating for future work.
The results presented in this press release are exploratory in nature
and have been reviewed by the company's Qualified Persons, Mr. Eddy
Canova, PGeo and Dr. Eric Owens, PGeo. There is no Current Resource on
this property as defined by NI 43-101, and there is no guarantee that
an economic gold deposit underlies the properties. More work by an
independent Qualified Person ("QP") will be required in order
to bring the properties into compliance with resource definitions in NI
43-101. The surface sampling program is consistent with industry best
practices and the Company's QA/QC programme continues to be adhered to:
samples are recorded, bagged and sent to ALS Chemex Labs in Val-d'Or
for preparation and 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.
Alexandria Minerals Corp. is a Toronto-based mineral exploration and
development company, focused on the exploration for precious metals on
mineral properties located in Northern Ontario and Quebec. The
Company's management has extensive global experience with small to
large mining companies, from grass-roots exploration to the
exploitation of mineral deposits. The Company is a reporting issuer in
the provinces of British Columbia, Alberta and Ontario.
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.
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