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Alexandria Intersects 3.81 g/t Au over 14.00m
and Expands Sleepy Gold Deposit
Toronto,
Ontario, March 1, 2011 �" Alexandria Minerals Corporation (TSX-V:
AZX; Frankfurt: A9D) reports today that it has intersected 3.81 g/t Au
over 14.00 m (9.00 m true width), in diamond drill hole SAX-11-01 on its
Sleepy project in Val d�TOr, Quebec.
The intersection, below 400 m vertical depth, is the deepest yet at
Sleepy, and extends the Sleepy Gold Zone by 100 m below previously
released holes). The 14 samples comprising the intersection range between
2.09 g/t to 8.54 g/t (see Table 1 below), a consistency of gold concentration
that is characteristic of the Sleepy Zone gold mineralization. In
addition, silver assays up to 21.50 g/t, and zinc assays up to 1.52%,
were obtained within in the interval.
Eric Owens, President of Alexandria Minerals, said, �oThese results introduce significant
growth potential at depth, for targeting new holes and finding new
sources of gold mineralization. We plan on following this up with a three
hole programme that will target areas below
this hole in mid-late March.��
Table 1. Drill
Assays from the Sleepy Zone in Hole SAX-11-01
The
Sleepy project, located 12 km east of the Akasaba
Gold-Silver project on the Company�Ts
extensive, 35 km long Cadillac Break property group, hosts a National
Instrument 43-101-compliant Inferred Resource of 1.5 million tonnes grading 3.0 g/t Au (for 150,000 ounces of
gold), estimated in 2009 by Geopointcom of Val d�TOr, Quebec (see Press Release, October 28, 2009).
The property lies within the infrastructure-rich Val d�TOr
gold district, which hosts several gold mines and mills, and which has
seen more than 20 million ounces of gold produced within close proximity
to the city.
Alexandria has access to more than $6 million in short term assets,
including cash, marketable securities, and mining refunds. The Company is
currently in the early stages of a 20,000 m drill programme,
principally at its flagship Akasaba project,
where it is focused on both in-fill, delineation drilling and step-out,
expansion drilling.
The Company�Ts
sampling protocol has been outlined in previous press releases, and
additional information is available by request. The Company routinely
uses two laboratories, AGAT Labs, of Missisuagua,
and Techni-Labs, a division of Actlabs, of Val d�TOr and Noranda, for
its sample analysis. Because of the concern of a �onugget
effect��, the
company routinely re-checks its assay results, and where re-checked
assays vary by greater than 10%, the samples are subjected to a metallic
screen assay technique whereby a 1 kg separate of the original sample is
screened to a 30 g aliquot prior to a FA gravimetric finish.
The results presented in this press release are exploratory in nature and
have been reviewed by the company�Ts
Qualified Persons, Jared Beebe, PGeo, and Dr.
Eric Owens, PGeo. These results have not been
verified by an Independent Qualified Person (�oQP��) and
therefore should not be relied upon except for their exploratory value.
There is no Current Resource underlying the Akasaba
property as defined by National Instrument 43-101, and no guarantee that
an economic gold deposit is present. Further work by Alexandria and an
Independent QP will be required to bring the data into compliance with NI
43-101.
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