TORONTO, ONTARIO--(Marketwire
- Dec. 10, 2009) - Alexandria Minerals Corporation (TSX
VENTURE:AZX)(FRANKFURT:A9D) reports that it has completed 8 of 11
planned drill holes on its Akasaba property
in Val d'Or, Quebec, totaling 1,450 m (out of
a total 2,500 m planned). Assay results are pending. The Company plans
to follow up this programme with a second 2,500 m drill programme in
early 2010.
Work to-date on the property includes its first successful round of
drilling earlier this year (see Figure 1 below), which extended
subsurface gold mineralization to 300 m deep and 300 m further to the
east. Geophysical and geological surveys and trenching and channel
sampling followed the first round of drilling, all of which provided
the basis for the current round of drilling. Trench results along the
Mine Horizon show local high grade gold mineralization (up to 14.7 g/t
Au over 0.63 m) in a broader envelope of widespread lower grade gold
mineralization, extending up to 900 m away along strike from the mine
site (Press Release, September 10, 2009). In addition, a second horizon
("North Zone") has been identified by mapping and trenching.
To view Figure 1, please click on the following link: http://media3.marketwire.com/docs/azx1210f1.JPG
Drill holes so far completed in the current round of drilling have
tested the North Zone, the Mine Horizon 400 to 600 m west along strike
with the mine, and in the vicinity of the mine. The remaining holes will
test subsurface extensions of the gold zones in the mine area.
In other matters, the Company is currently in progress with a
Preliminary Economic Assessment ("PEA") of its Orenada gold
deposit located 12 km west of the Akasaba property. The study will consist
of two phases: the first phase will evaluate a stand-alone operation,
the second phase will focus on an outsourced (contract mining, custom
milling) operation. Results of phase 1 of this study will be released
early in the new year, to be followed by the phase 2 study.
For further information, please visit www.azx.ca.
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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