Alexandria Increases Size of Orenada 2 with 8.15 m
grading 11.44 g/t Gold
Toronto, Ontario
– October 16, 2007 – Alexandria Minerals Corporation (TSX-V: AZX;
Frankfurt: A9D) reports that it has intersected 48.45 meters grading 2.19 g/t
Au (uncut grade), including 8.15 m grading 11.44 g/t Au and 1.55 m grading
40.79 g/t Au from the ongoing diamond drill program on the Orenada Project, Val
d’Or, Quebec (all widths are core lengths).
The mineralized
interval in hole OAX-07-16 occurs from 102.90 m to 151.35 m (drilled depth) and
represents the first complete assays received from 12 step-out holes testing
the potential of the eastern extension of Orenada 2. These results show that
mineralization continues to the east at Orenada 2, which has not previously
been tested.
Also, results from
hole OAX-07-11, drilled 200 m vertically below historic mineralization at
Orenada 2, intersected 34.80 m grading 0.56 g/t Au, including 16.25 m
grading 1.05 g/t gold and 4.95 m
grading 1.69 g/t Au. This hole was drilled 70 m west of previously reported DDH
AAX-07-10, which intersected 110 m grading 0.50 g/t Au, including 4.20 m
grading 2.98 g/t Au (Press Release April 25, 2007); these deeper holes show that
wide gold zones continue at depth, and may indicate an eastward plunging zone
similar to that at Orenada 4.
The results from the
Company’s drilling program to-date in 2007 have greatly expanded the
depth and strike potential of the zone at Orenada 2. Significant gold
mineralization, such as 1.02 g/t Au over 100.10 m in hole
AAX-07-11 (Press release April 29, 2007), has now been intersected in drill holes over a strike
length of 330 m, from 0 m to 250 m depth, well within open-pitable target
depths, and is open downdip and downplunge, as well as to the east.
Table of Assay Results
Results from
exploratory hole AAX-07-23, testing the eastern extension of the Orenada 2 Zone,
extended mineralization 535 m east of the DDH OAX-07-16. The hole intersected a
mineralized interval of 0.44 g/t Au over 14.90 m in the Cadillac Break, within
sericitized sedimentary rocks penetrated with quartz-ankerite veins and
mineralized with pyrite-arsenopyrite-pyrrhotite.
Assay results on 6
holes testing the down-plunge extension of Orenada 4 are still pending. This
zone, located 700 m west of Orenada 2, contains an historic resource identified
by Aur Resources Inc. of 2.1 million tons grading 0.047 oz/ton Au (1,964,800
tonnes grading 1.6 g/t Au -- see Alexandria Press Release September 29, 2006),
occurs at a depth from 0 to 300 meters depth, and is 420 meters long. Alexandria’s summer
step-out drilling program has extended this zone another 200 metres
to depth and 230 metres to the east.
Further information
can be viewed by clicking the link http://www.azx.ca/currentdrilling.asp or visiting the Company’s website, www.azx.ca.
The Orenada property
is located 6 km southeast of Agnico Eagle’s Goldex Project, where they
are developing an underground mine that hosts 2.4 million ounces Au (proven
reserves and inferred resources) with a global average grade of 2.39 g/t Au.
Alexandria will be testing the idea that there may be multiple targets along
the Cadillac Break on its 30 km-long property holding in Val d’Or with characteristics similar
to Orenada 2 and 4. For example, 1 km to the east of Orenada 2, drill hole
AAX-07-09 intersected 1.97 g/t Au over 8.41 m in a previously underexplored
area on the Oramaque property (see press release Mar 27, 2007). Likewise, in a
blue-sky drill hole on the Bloc Sud West property 10 km east of Orenada, the
Company intersected 1.97 g/t Au over 4.5 m in drill hole BS-07-37 (Press
release May 24, 2007). In addition, there are a number of other drill hole
intersections, as well as geophysical and geochemical anomalies, which warrant follow-up
testing.
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 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.
NOTICE:
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
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.
Dale Paruk
Coal Harbor Communications, Inc.
Suite 701, 555 Jervis Street
Vancouver BC
V6E 4N1
Tel: 604-662-4505
Fax: 604-662-4547
dale@coal-harbor.com