TORONTO, ONTARIO--(Marketwire - Nov.
12, 2009) - Alexandria Minerals Corporation (TSX
VENTURE:AZX)(FRANKFURT:A9D) reports that it will begin this week a
2,500 m drill programme on its past-producing Akasaba gold Project in
Val d'Or, Quebec, following the encouraging results received from its
mapping, sampling and trenching activities.
Geophysical and geological evidence show that the volcanic stratigraphy
that hosts the past-producing Akasaba Mine ("Mine Horizon")
can be traced for more than 2.5 km via a strong magnetic anomaly, with
a coincident Induced Polarization ("IP") anomaly at least 1.6
km long. The results of channel sampling in trenches along this trend
have further verified the extent of the Mine Horizon. Trenches
excavated and sampled up to 800 m along strike with the Akasaba Mine
include:
- Trench AKTR09-4, 400 m west of minesite, 1.79 g/t Au over 13.50 m
- Trench AKTR09-2, 350 m west of minesite, 7.62 g/t Au over 0.5 m
- Trench AKTR09-2, 350 m west of minesite, 1.21 g/t Au over 5.00 m and
0.74 g/t Au over 23.30 m
- Trench AKTR09-3, 375 m west of minesite, 2.01 g/t Au over 4.50 m
- Trench AKTR09-7, 800 m west of minesite, 0.36 g/t Au over 9.00 m
In addition, other similar coincident magnetic and IP anomalies occur
elsewhere on the property, suggesting the potential for multiple
horizons. Trench AKTR09-1, located 200 m northeast of the minesite,
appears to be on such a horizon, recording 1.16 g/t Au over 10.50 m
from similar sulfide-enriched volcanic rocks.
Eric Owens, President and CEO of Alexandria, said, "Akasaba
continues to show a lot of promise for future development. This well
mineralized historic deposit has considerable potential along strike
and at depth as well as over multiple horizons."
This is just the second drill programme on the property, and it follows
a smaller and successful initial round of drilling in the spring. The
results from that first round of drilling showed the potential for
growth of the gold- and copper-rich semi-massive sulfide. Holes drilled more than
100 m below previously known mineralization intersected 4.22 g/t over
10.35 m, including 24.50 g/t Au over 1.3 m (Press Release April 30,
2009), and separately, 2.77 g/t Au over 18.90 m, including 57.23 g/t
over 0.5 m (Press Release May 26, 09).
The Company will complete 10-12 holes on the property for the purpose
of better defining and enlarging the historical deposit, as well as testing
some of the new targets identified during its summer field campaign.
For further information, please visit www.azx.ca.
In other matters, the Company has filed its National Instrument 43-101
resource report entitled "NI 43-101 TECHNICAL REPORT ON THE
ORENADA PROPERTY" on SEDAR.
The results presented in this press release are exploratory in nature
and have been reviewed by the company's Qualified Persons, Eddy Canova,
PGeo, and Dr. Eric Owens, PGeo. There is no Current Resource as defined
by National Instrument 43-101 on the Akasaba Property, and there is no
guarantee that an economic gold deposit exists. Further work by
Alexandria and an Independent Qualified Person will be required to
bring the data into compliance.
The sampling 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 to a maximum of 1.5 meters in length. The 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.
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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