Alexandria Files Updated National Instrument 43-101 Compliant Resource Report for Akasaba on SEDAR
Published : March 13, 2013
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Keywords :   Copper | Diamond | Gold | Gold Mines | Growth | Market | Recovery | Report | Silver |

TORONTO, ONTARIO--(Marketwire - March 13, 2013) - Alexandria Minerals Corporation (News - Market indicators)(FRANKFURT:A9D) reported today that, in compliance with National Instrument ("NI") 43-101, it has filed on SEDAR the Technical Report for the updated resource estimate, as released on February 7, 2013, for its 100%-owned Akasaba Project in Bourlamaque Township, Val d'Or, Quebec.

The updated Current Resource, which more than doubled the original estimates in less than one year (see Press Release March 27, 2012), is summarized as follows:

Table 1. NI 43-101 Gold Resources at Akasaba

  Indicated Resources Inferred Resources
Zone Tonnage Au Grade
(g/t)
Contained
Gold (oz.)
Tonnage Au Grade
(g/t)
Contained
Au (oz.)
Cu Grade
(%)
Contained
Cu (Kg)
Cu in Gold
Equiv.
(oz.)
(2)
Underground 653,929 5.79 121,657 1,537,973 5.51 272,385      
Main Pit(1) 3,009,214 1.37 132,475            
Satellite Pit(1)       285,374 1.76 16,153      
West Zone Pit       14,863,740 0.69 332,074 0.41 61,255,885 342,108
                   
Totals     254,132     620,612   61,255,885 342,108
Note (1): Resources from the Main Pit and Satellite Pits are unchanged from 2012.
Note (2): Gold Equivalent (Gold Eq.) calculated from copper resources using Au price of $1,325/oz. and copper price of $7.40/kg.

Eric Owens, President of Alexandria Minerals, said, "These robust estimates presented in this study attest to the potential of the project. We are excited to continue to build this deposit as we await the assay results for 22 drill holes."

The Current Resource consists of both open pit and underground resources. Growth over the past year occurred principally as a result of the discovery by Alexandria geologists in 2012 of the near-surface, open-pit resources of the West Gold-Copper Zone, which increased Inferred Resources by 263% over those estimated last year. Additional open-pit resources occur in the Main Pit, centered over the past-producing Akasaba Mine, and smaller nearby Satellite pits (see figure below), located 1,600 m along strike from the West Zone.

Underground resources occur in the vicinity of, and below, the Akasaba Mine, which produced a reported 40,000 ounces of gold at a grade of 5.25 g/t Au, and 10,000 of silver, from 1960-1963. From 2009 until 2012, the Company focused its efforts in this area, delineating the first underground resource in 2012 down to 500 m depth. The underground Current Resources now extend to a depth of 600m, and remain open below this depth.

To view the map associated with this release, please visit the following link: http://media3.marketwire.com/docs/AkasabaProject.pdf.

The NI 43-101 Compliant report was prepared by Independent Qualified Persons Alain-Jean Beauregard, P. Geo., OGQ, FGAC and Daniel Gaudreault, P. Eng., OIQ, both of Geologica Groupe Conseil, of Val d'Or, based on the resource estimation of Christian D'Amours, P.Geo. and OGQ, of Geopointcom, also of Val d'Or.

The expansion of the underground resource and discovery of the new gold-copper West Zone open pit resource was the result of the completion of 51 holes totaling 22,102 m drilled on the Akasaba project Since the March 27, 2012 release of its first NI 43-101 Resource Estimate at Akasaba.

The following apply to the estimated resource:

  1. The mineral resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
  2. Assumptions for the Resource Calculation for Underground and West Zone Pit: (a) Gold Price, $1,325/oz., Copper Price $7.40/kg, (b) Cut-off Grade, Underground, 2.25 g/t Au, Open-pit, 0.5 g/t, (c) Bulk Density, Mine area underground and open pits, Specific Gravity 2.8; West Zone pit, Specific gravity 2.65, (d) Minimum true width, Underground, 2.5 m, all Open Pits, 5m, (e) Blasting/Mucking costs, Underground, $68/tonne, Open-Pit, $5.75/tonne, (f) Milling Costs, $12/tonne, (g) Overburden removal costs, $3/cubic meter, (h) Open pit shell optimized for best revenue, (i) Geostatistical analysis indicate no grade capping is necessary.
  3. Mineral resources which are not mineral reserves have not demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues, although the Company is not aware of any such issues.
  4. Resources at the Main Pit and Satellite Pit were released on March 27, 2012 and are not part of this study.

The geostatistical evaluation of the Diamond drill hole results were performed by independent Qualified Person Christian D'Amours, P.Geo., of Geopointcom in Val d'Or, QC, on data verified by Independent Qualified Persons Alain-Jean Beauregard, P. Geo., OGQ, FGAC and Daniel Gaudreault, P. Eng., OIQ, both of Geologica Groupe Conseil, of Val d'Or, QC. Geological interpretation and geological database compilation of Akasaba was performed under the supervision of Peter Legein, Qualified Person, of Alexandria Minerals Corporation. This Press Release, and the technical report, has been reviewed by all parties. Please note that Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

Program design, management, and Quality Control/Quality Assurance is governed by Alexandria's exploration group, of which Peter Legein, P.Geo, and Eric Owens, P.Geo, are the Company's Qualified Persons. Peter Legein supervises the technical activities of the Company. The QA/QC program is consistent with NI 43-101 and industry best practices; this will be summarized in the technical report, but has previously been addressed in the NI 43-101 Technical Report on the Cadillac Break properties (February 2008).

About Alexandria Minerals Corporation

Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with one of the largest portfolio of properties along the prolific, gold-producing Cadillac Break in Val d'Or, Quebec. The Company is currently focused on advancing its Akasaba and Sleepy projects. Agnico-Eagle Mines Ltd., with two producing gold mines in the region, owns roughly 9% of the Company.

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.

Alexandria Minerals Corporation
Andreas Curkovic
Investor Relations
(416) 577-9927
or
Alexandria Minerals Corporation
Eric Owens
President/CEO
416-363-9372
info@azx.ca
www.azx.ca

Alexandria Minerals Corp

EXPLORATION STAGE
CODE : AZX.V
ISIN : CA0151001009
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Alexandria Min. is an exploration gold and copper company based in Canada.

Alexandria Min. holds various exploration projects in Canada.

Its main exploration properties are SISCOE EAST, GWILLIM, ORAMAQUE, AKASABA, MATACHEWAN PROPERTY, QUEVILLON, ORENADA, SLEEPY ZONE, DUCROS, LOURMET and BLOC SUD WEST in Canada.

Alexandria Min. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 21.5 millions as of today (US$ 16.0 millions, € 14.3 millions).

Its stock quote reached its highest recent level on May 04, 2007 at CA$ 0.43, and its lowest recent point on April 18, 2019 at CA$ 0.02.

Alexandria Min. has 478 200 000 shares outstanding.

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Annual reports of Alexandria Minerals Corp
2008 Annual Report
Financings of Alexandria Minerals Corp
10/30/2012Announces $2,500,000 Financing
10/27/2011Closes $3,000,000 Financing
10/7/2011Alexandria Minerals Corporation Announces $3,000,000 Financi...
12/24/2009Closes Non-Brokered Private Placement
12/17/2009Announces $500,000 Non-Brokered Private Placement
5/22/2007Closes $3,169,660 Non-Brokered Portion of $7.75 Million Priv...
5/18/2007Closes $4.58 Million Brokered Private Placement
5/8/2007Increases Private Placement to $7,254,708
Nominations of Alexandria Minerals Corp
10/18/2012Appoints Robert Geis to Board of Directors
6/4/2008Appoints Ed Stuart to Board of Directors
Financials of Alexandria Minerals Corp
4/20/2011Provides Operational Summary for Third Quarter 2010/2011
Project news of Alexandria Minerals Corp
7/26/2017(Orenada)Expands Near-Surface Gold Veins to 1,100 Metres in Length at...
8/31/2016(Orenada)Alexandria Minerals Completes Phase 1 of Triangle Too Drill ...
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2/20/2014Drills 142.50 g/t Gold Over 0.3 m in Its Winter Exploration ...
1/14/2014Sells the 14 Claim West Zone Property to Agnico Eagle for $5...
10/8/2013(Akasaba)Begins Drilling at Akasaba, Val d'Or, Quebec
6/27/2013(Akasaba)Reports Wide Gold-Copper Intersections at Akasaba West Zone ...
4/9/2013(Akasaba)Expands Akasaba West Gold-Copper Zone to the West and Down D...
9/8/2011Intersects 6.66 g/t Au over 22.7m below 500m at Sleepy
6/15/2011(Akasaba)Intersects 6.73 g/t Au over 10.50 m at Akasaba
5/12/2011(Siscoe East)Niogold to Drill Alexandria's Siscoe East Project, Val d'Or
3/25/2011(Akasaba)Intersects 38.53 g/t Au over0.60m at Akasaba
3/3/2011(Sleepy Zone)Intersects 3.81 g/t Au over 14.00 m and Expands Sleepy Gold ...
3/1/2011(Sleepy Zone)Expands Gold Mineralization at Sleepy
2/23/2011(Akasaba)Intersects 1.32 g/t Au over 31.05m at Akasaba
2/15/2011(Akasaba)Drills 1.69 g/t Au over 36.09 m at Akasaba Increasing Shallo...
1/6/2011(Joannes)Completes $2.0m sale of Joannes Claims
2/17/2010(Akasaba) Expands High Grade Gold Zone at Akasaba, Val d'Or, Quebec
1/6/2010(Joannes)Aurizon Mines Reports First Resource Estimate at Alexandria'...
12/10/2009(Akasaba)Reports Drilling Progress at Akasaba
11/12/2009(Akasaba)Alexandria Releases New Trench Results At Akasaba Grading Up...
10/29/2009(Sleepy Zone) Increases Global Resources On Its Cadillac Break Properties...
10/15/2009(Siscoe East) to Participate in New Claims Adjacent to Siscoe East
9/16/2009(Orenada) Releases NI 43-101 Compliant Resource Estimate for Orenada ...
9/10/2009Multiple High Grade Gold =?ISO-8859-1?Q?=20Targets=20on=20it...
8/31/2009(Joannes)High Grade Gold Discovered on Alexandria's =?ISO-8859-1?Q?=2...
8/7/2009(Siscoe East)Drilling at Alexandria's Siscoe East Property Intersects 43=...
7/29/2009(Siscoe East)Siscoe East Property Update
7/8/2009(Akasaba)Discovers New Gold-Bearing Zones at Akasaba
6/26/2009(Akasaba)Extends High Grade Akasaba Gold Zone at Surface
6/8/2009(Joannes)Drills 9.0 g/t Gold over 1.0 m on Alexandria's Joannes Prope...
3/10/2009(Orenada) to Complete NI 43-101 Resource Estimates on Orenada and Sle...
2/17/2009(Joannes)Drilling Begins on Alexandria’s Joannes Township Property, Q...
12/3/2008(Matachewan Property)Begins Follow-Up Drilling on its Matachewan, Ontario, Proper...
3/18/2008(Sleepy Zone)Begins Drilling at Sleepy Property, Val d'Or, Quebec
2/19/2008Enlarges Its Matachewan, Ontario, Property
1/9/2008(Orenada)Drills 4.07 g/t Gold Over 8.65 m at Orenada 2, Val d’Or, Que...
12/20/2007(Orenada)Expands Gold Zone at Orenada 2 with 3.22 g/t Gold Over 3.90 ...
10/31/2007Extends Orenada 2 at Depth, Intersects 2.45 g/t Gold Over 13...
10/16/2007(Orenada) Increases Size of Orenada 2 with 8.15 m grading 11.44 g/t G...
8/15/2007(Orenada)Extends Orenada 4 with High Grade Drill Intersection
7/30/2007(Orenada)Intersects 40.4 Meters of 0.76 g/t Gold Near-Surface at Oren...
7/19/2007Intersects New Gold Zones in the Cadillac Break on the Airpo...
6/25/2007Drills Anomalous Gold on Joannes Property
6/6/2007(Orenada) Drills 3.35 g/t Gold Over 10.80 m on Sleepy, Val d'Or
5/24/2007(Orenada)Intersects Positive Exploratory Drill Results on Bloc Sud We...
5/10/2007(Orenada)to Purchase 100% of IAMGOLD Properties in Val d'Or
4/10/2007(Orenada)To Drill Sleepy Deposit, Cadillac Break Properties, Val d'Or
3/29/2007(Orenada)Intersects 21.37 g/t Gold over 4.05 m on Orenada Property, V...
Corporate news of Alexandria Minerals Corp
7/27/2016Alexandria Minerals Identifies Prospective Targets on Its “T...
6/24/2016Alexandria to Re-Start Drill Program on Its 100% Owned Trian...
6/22/2016Alexandria Minerals Increases Private Placement to $5.1 Mill...
6/13/2016Alexandria Minerals Closes First Tranche of Financing, Raise...
6/1/2016Alexandria Signs Memorandum of Understanding with Matchewan ...
5/30/2016Alexandria Minerals Announces $4 Million Private Placement
5/19/2016Alexandria Enters into Option Agreement with Quinto Real Cap...
4/13/2016Alexandria Drills Triangle Zone-like Targets on its Airport ...
3/22/2016Alexandria Geophysical Survey Reveals New Targets on the Fan...
3/7/2016Alexandria Minerals Sees New Gold Potential at Orenada Throu...
1/19/2016Alexandria Minerals Provides Update of Activities
1/11/2016Alexandria Minerals Announces Intention to Conduct a Normal ...
11/6/2015Alexandria Minerals Corporation Closes Second Tranche of Pri...
11/5/2015Alexandria Minerals Increases Financing to $1.875 Million
10/24/2015Sandstorm Gold Provides Asset Updates
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10/23/2015Alexandria Minerals Closes $1,000,000 First Tranche of Finan...
10/22/2015Alexandria Minerals to Raise $1.8 Million
10/5/2015Alexandria Files NI 43-101 Technical Report for Hudvam Proje...
8/19/2015Alexandria Increases Resources at its Hudvam Project in Flin...
8/5/2015Alexandria Engages FronTier Merchant Capital Group for Inves...
7/2/2015Alexandria Files WIM Technical Report on SEDAR
4/22/2015Alexandria Drills High Grade Gold Veins At Orenada, Includin...
4/1/2015Alexandria Review of Cadillac Break Property Geophysics Yiel...
3/19/2015Alexandria Provides Summary of Recently Acquired Assets and ...
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3/16/2015Alexandria Minerals Acquisition of Murgor Resources Complete...
3/10/2015acquisition of Murgor Resources completed
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2/17/2015Alexandria Begins Drilling Copper-Gold Zone in Val d'Or
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2/2/2015Alexandria's Acquisition of Murgor Clears Quebec Superior Co...
2/2/2015Alexandria Minerals Corporation Closes Financing
2/2/2015Alexandria Minerals Corporation Announces $500,000 Financing
1/28/2015Alexandria's Acquisition of Murgor Clears Quebec Superior Co...
1/27/2015Murgor Resources obtains interim order for plan of arrangeme...
12/23/2014Alexandria Minerals Corporation to acquire Murgor Resources ...
12/23/2014to acquire Murgor Resources Inc.
12/9/2014Alexandria Files National Instrument 43-101 Technical Report...
1/10/2014Happy New Year from Alexandria Minerals
11/25/2013Expands West Zone by 100m With Wide Gold-Copper Intersection...
10/24/2013Annual General Meeting Brings Michael Pesner to Board
10/21/2013Closes Second Tranche of Private Placement for Gross Proceed...
10/18/2013Announces Increase in Private Placement to $1,026,000
9/11/2013Closes First Tranche of Financing
9/10/2013Announces $800,000 Financing
7/24/2013(Akasaba)Drilling Identifies New Target Zones North and South of Main...
5/15/2013Expands Sleepy Gold Deposit With Drill Intersection of 3.82 ...
3/28/2013Provides Update on Spring 2013 Activities
3/13/2013(Akasaba)Files Updated National Instrument 43-101 Compliant Resource ...
2/7/2013(Akasaba)Increases Indicated Resources 9% and Inferred Resources 263%...
1/17/2013Provides Winter Exploration Update
11/6/2012(Akasaba)Metallurgical Study Indicates 95% Recovery of Gold at Akasab...
4/5/2012A Cool 1.4 Million Ounces: Alexandria Minerals Crosses the G...
1/20/2012Mid-Day Breaking News From Alexandria Minerals and Galore Re...
11/25/2011Meet Alexandria at the San Francisco Hard Assets Show
9/15/2011Announces Agreement with NYC Radio, LLC
5/19/2011Third Drill Rig Arrives on Alexandria's Cadillac Break Prope...
4/12/2011(Akasaba)In-fill Drilling Intersects 7.44 g/t Au over 8.50 m at Akasa...
7/23/2010Engages Pollitt & Co. as Market-Maker
6/2/2010Featured on BNN Commodities Report
3/23/2010Announces $1,820,000 Equity Investment by Agnico-Eagle Mines...
10/8/2009 Mapping Program Finds More Evidence For Gold at Matachewan ...
9/30/2009Options Val d'Or Property to Kalahari Resources
7/22/2009Alexandria Secures 100% Interest in Valdora Gold Property, V...
7/2/2008and NioGold Mining to Enter JV on Siscoe East in Val d'Or
4/8/2008 to Acquire 100% Interest in Remaining Cadillac Break Gold P...
12/4/2007Increases Size of Cadillac Break Properties, Val d'Or; Drill...
10/18/2007WILL BE PRESENT AT THE UPCOMING Global Chinese
9/19/2007Continues to Intersect Shallow Gold at Orenada 2
9/5/2007Drills 3.18 g/t Gold Over 6.60 meters at Orenada 4; Begins T...
4/18/2007to Raise $5,500,000; Second Rig Expands Drilling Program Alo...
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