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TORONTO,
ONTARIO--(Marketwire - Feb. 17, 2010) - Alexandria Minerals Corporation
(TSX VENTURE:AZX)(FRANKFURT:A9D) reports today additional drill results
from its ongoing program at the Akasaba Mine area on its Akasaba
property in Val d'Or, Quebec. Highlights of the results include hole
IAX-10-64 that has intersected 20.48 g/t Au over 3.30 m (Core Length),
including a visible gold-bearing interval of 45.60 g/t Au over 1.00 m.
Hole IAX-09-64 (Figure 1 and Table 1) extends high grade subsurface
gold mineralization 100 m east of previously known mineralization in
Lens D, the northernmost of the four principal lenses identified during
the mine's operating period in the early 1960's. Nearest historic
results from the zone include 39.62 g/t Au over 4.5 m and 13.64 g/t Au
over 4.3 m.
Eric Owens, President and CEO of Alexandria Minerals, said, "In
addition to the welcome high grades encountered, the most important
aspect of these results is that we have enlarged the gold zone
considerably with just one hole. These results guide our efforts for the next phase
of our drill program and increase our confidence in Akasaba's future
potential."
To view figure 1 please visit the following link: http://media3.marketwire.com/docs/Alex%20Figure%201%2021610.pdf
In addition to the Lens D zone, the drill hole intersected at least one
other significant zone between 267.50 m and 270.30 m downhole: 1.25 g/t
Au over 2.80 m, including 4.23 g/t Au over 0.55 m. This supports the
historic information which indicates multiple gold-bearing lenses
underlying the mine area.
Table 1. Selected Drill Results, DDH IAX-09-64, Akasaba Project ------------------------------------------------------------------------- Est. True Au (g/t) From (m) To (m) Length (m) Width (m) uncut Ag (g/t) Cu (%) ------------------------------------------------------------------------- 123.55 125.00 1.45 0.93 0.63 - - ------------------------------------------------------------------------- 187.70 191.00 3.30 2.12 20.48 3.87 0.17 ------------------------------------------------------------------------- incl. 188.55 189.50 0.95 0.61 20.22 5.00 0.15 ------------------------------------------------------------------------- and 189.50 190.50 1.00 0.64 45.60 6.90 0.32 ------------------------------------------------------------------------- 198.20 204.40 6.20 3.98 0.58 - - ------------------------------------------------------------------------- 267.50 270.30 2.80 2.14 1.25 - - ------------------------------------------------------------------------- incl. 269.75 270.30 0.55 0.42 4.23 - - -------------------------------------------------------------------------
Assay
results are pending for the five remaining holes on the property, 3
along the Mine horizon, and 2 off-horizon holes which tested
geophysical anomalies. The Company's next round of drilling is
scheduled to begin in late February or early March start-up.
The results presented in this press release are exploratory in nature
and have been reviewed by the company's Qualified Persons, Jared Beebe,
PGeo, and Dr. Eric Owens, PGeo. Historic results are not compliant with
National Instrument ("NI") 43-101 and should not be relied
upon; and there is no Current Resource underlying the Akasaba property
as defined by NI 43-101, and no guarantee that an economic gold deposit
is present. Further work by Alexandria and an Independent Qualified
Person will be required to bring the data into lines with NI 43-101.
The Company's sampling protocol has been outlined in previous press
releases, and additional information can be obtained by request.
Because of the concern for a "nugget effect", it is worth
noting that 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.
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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