MINERALS CORPORATION
For Immediate Release News
Release ___________________________________________________________
Alexis
Intersects 70.4 Grams
Gold over Two Metres in New Zone at Lac Pelletier Gold Project
August 27, 2009,
Toronto, Ontario: ALEXIS MINERALS
CORPORATION (AMC: TSX) is pleased
to announce new high grade results at its Lac Pelletier gold project, in Rouyn-Noranda, Quebec. The Company continues to advance the bulk
sampling program at Lac Pelletier, its second gold project.
A surface drilling program, including seven short holes (960 metres), was
undertaken in July 2009 with the objective of increasing the resources at the
mine. This drilling focused on the exploration of new zones on the western
extension of the Lac Pelletier mineralized structures. The main discoveries in
this new prospective area are 100-150 metres (m) northwest of the mine entrance. The
best results are associated to quartz veins or concentrations of small
quartz-carbonates-pyrite veins and veinlets. These
structures are not yet correlated to the mine's mineralized structures. The
early stage exploration results indicate the possibility of new mineralized
structures. Results from the last
holes drilled are expected in the upcoming weeks.
Results from the drilling are shown in the table
below, and some highlights are:
o
70.4 (23.8 cut) g Au/t
over 2.0 m
(1.41 m
true thickness) in hole 17475-71;
(cut
- Upper cut-off factor for high grade assay results on 30.0 g Au/t.)
o
6.93 g Au/t over 0.5 m (0.32 m true thickness) in
hole 17475-72.
|
Hole no
|
From (m)
|
To (m)
|
Length (m)
|
True width (m)
|
Au (g/t)
|
|
17475-71
|
16.3
|
16.9
|
0.6
|
0.42
|
4.7
|
|
51.3
|
51.8
|
0.5
|
0.35
|
3.2
|
|
83.0
|
85.0
|
2.0
|
1.41
|
70.4 (23.8 cut)
|
|
Incl. 83.0
|
83.7
|
0.7
|
0.49
|
160.6
|
|
Incl. 83.7
|
84.5
|
0.8
|
0.57
|
32.2
|
|
Incl. 84.5
|
85.0
|
0.5
|
0.35
|
5.3
|
|
17475-71A
|
16.0
|
18.0
|
2.0
|
1.29
|
3.1
|
|
Incl. 16.0
|
17.0
|
1.0
|
0.64
|
1.6
|
|
Incl. 17.0
|
18.0
|
1.0
|
0.64
|
4.6
|
|
17475-72
|
6.5
|
7.0
|
0.5
|
0.32
|
6.9
|
|
17475-72A
|
Pending
|
|
17475-73
|
Pending
|
|
17475-74
|
Pending
|
|
17475-75
|
Pending
|
Bulk Sampling
Update
Lac Pelletier is approximately 4 kilometres
southwest of the city of Rouyn-Noranda, Quebec,
in the prolific Abitibi Mining Camp, historically one of the world's top gold
producing areas. The Company expects
to complete a 40,000 tonne bulk sample at the Lac
Pelletier Mine later in 2009 generating an estimated 9,400 oz of gold. Alexis
has a certificate of authorization for the Lac Pelletier project and an
application submitted for a mining lease. In the current gold price
environment, a positive production decision is expected to be made early in
2010. Lac Pelletier is projected to
produce 35,000 to 45,000
ounces of gold on an annual basis commencing in 2010,
which would bring total Company annual gold production to between 75,000 and 85,000 ounces.
On June 10, the company began the dewatering and rehabilitation of the
ramp that flooded eighteen years ago.
800 metres
of ramp were dewatered and rehabilitated in the first ten weeks of the project.
An additional 256
metres of old drifts and ramp will be rehabilitated
concurrent with development to access the bottom of the old ramp and view the
previously exposed mineralized zones.
A further 830 metre
development program began this week to access the stoping areas which will provide the tonnage for the bulk
sample.
The Company is maintaining its target of having the underground bulk
sampling campaign completed by the end of 2009.
Quality Control:
The technical and scientific content of this press release has been
prepared and reviewed by Claude Gobeil and Pascal Hamelin, Qualified Persons as
defined under NI 43-101 guidelines. Assay samples are
taken from NQ core, sawed in half with one half sent to a commercial laboratory
and the other half retained for future reference. A strict QA/QC program is
followed on samples from drill core that includes mineralized standards, blank
and field duplicate for each batch of samples. Analyses are performed by Techni-Lab of Ste-Germaine Boulé,
Québec.
About
Alexis Minerals
Alexis Minerals Corporation is a Canadian mining company listed on the Toronto
Stock Exchange (symbol "AMC").
The Company owns one producing gold mine in Val d'Or
and the right to earn a 100% interest in the Lac Pelletier gold property in
Rouyn-Noranda. Alexis undertakes exploration in the
mineral rich Val d'Or (100% ownership of 212 sq. km.) and Rouyn-Noranda Mining Camps (50% ownership of 785 sq.km and in joint venture with Xstrata Copper). Further
information about Alexis Minerals can be found at its website: www.alexisminerals.com
Contact Information:
David Rigg,
President and CEO Email:
info@alexisminerals.com
Tel: (416) 861-5889
Fax: (416) 861-8165 Website: www.alexisminerals.com
Bruce Barch, Louis
Baribeau,
VP Investor & Corporate Affairs Relationniste
Tel: (416) 861-5905 Tel:
(514) 667-2304
bruce.barch@alexisminerals.com lb@decorporateconsultants.ca