| | Published : November 08th, 2011 | Provides Operational Update |
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Alexandria Provides Operational Update
Toronto, Ontario, November 8, 2011 �?" Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) provided today an operational update on the results of its ongoing 2011 drilling campaign in which both of the Company�?Ts key gold projects in Val d�?TOr, Quebec, Akasaba and Sleepy, saw continuing advancement. The Company continues to drill with two drill rigs on these properties.
Operational Highlights �?� Expansion of gold-bearing zones at Akasaba and Sleepy since the beginning of the new Fiscal Year in May, 2011. �?� Akasaba - 30 drill holes (10,438 m), to depths of more than 400m. �?� Sleepy - 14 drill holes (7,693 m), also to depths of more than 400m. �?� Significant first round results 1 km east of the Sleepy Gold Resource. �?� $1.6M exploration expenditures during Q1 (May to July, 2011). �?� Completed $3 million financing in October, resulting in current short-term assets of $5.7 million
Eric Owens, President and CEO of Alexandria, said, �?oWe have enjoyed considerable drilling success, in which great drill results have expanded gold mineralization on both Sleepy and Akasaba gold zones. Both projects have brought the company to a new strategic threshold, and with our strong treasury we will continue advancing them.�?�
Akasaba Advancement of the Akasaba property continued with one drill rig turning on both in-fill drilling at shallow depths, and step-out drilling at depth on the eastern high-grade zone.
The eastern high grade zone was deepened from a vertical depth of 350 m to more than 425 m, with drill holes IAX-11-148 and 155 assaying 6.73 g/t Au over 5.25 m and 3.07 g/t Au over 12.75 m. These holes define a blind zone at depth, together with IAX-10-106 (4.97 g/t Au over 6.68 m) and IAX-09-54 (2.86 g/t Au over 8.08 m), whose top is at 250 m depth, and bottom is open below 425 m. Assays are pending for three holes, two of which have intersected the target zone another 100 m below holes 148 and 155. Drilling at a third hole is also currently underway.
Company geologists have compiled data from numerous drill targets at depth and along strike with the historic Akasaba Mine. In the early 1960�?Ts, the Akasaba Mine produced 40,000 oz. of gold (grading 5.14 g/t Au) and 10,000 oz. of silver. The Company has expanded the gold-bearing zone from 200m to over 1,000 metres along strike and from 80m to more than 450m at depth. The area continues to be open both at strike and at depth. In addition, targets have been also compiled elsewhere on the property, in particular on the North Zone, located 100 m north of the main Mine Horizon, where the Company has completed just three holes with encouraging results.
Table 1: Summary of Release Recent Drill Hole Assay Results at Akasaba
The geology of Akasaba suggests similarities to other gold-rich VMS deposits in the region, such as the La Ronde Mine, the 9 million ounce flagship gold mine of Agnico-Eagle Mines Ltd, especially: Akasaba is polymetallic and sulphide-rich; has multiple mineralized horizons hosted in mafic to felsic volcanic rocks; widespread, locally up to 1-2% Cu; local high grade zinc (up to 6.35% Zn over 0.3 m).
Sleepy Drilling on the Company�?Ts Sleepy Project, located 12 km east of Akasaba, continued to expand on the Current Resource on the Main Sleepy Zone (estimated in 2009). During the 1st Quarter, 2 holes intersected the Main Sleepy Zone 100 m below the Current Resource: DDH SAX-11-05 and SAX-11-09, assayed 11.95 g/t Au over 2.25 m and 6.66 g/t Au over 15.85 m, respectively. A third hole completed in the same area (SAX-11-01) announced earlier in the year intersected 3.88 g/t Au over 9.2 m, resulting in a significant expansion of the steep westerly plunging gold-bearing zone at depth. The Company has completed a further three holes west of this trend, for which assays are pending.
Table 2: Summary of Previously Released Drill Hole Assay Results at Sleepy
During the 1st Quarter the Company also tested two other target areas: (i) the East Zone, about 1 km east along strike with the Current Resource, and (ii) the South Zone, located along a parallel structure 100 m south of the Sleepy Resource. In the East Zone, an encouraging assay of 4.92 g/t Au over 2.07 m was intersected in hole SAX-11-07. Historical assays from previously drilled holes include 2.95 g/t Au over 6.65 m and 14.10 g/t Au over 1.46 m in the same zone, and suggest the potential for discovery of a zone similar to that which hosts the Sleepy Resource. A three hole follow-up programme is currently underway to evaluate this.
At the South Zone, drill hole SAX-11-04 intersected a new high-grade discovery which assayed 28.75 g/t over 4.2 m. The Company�?Ts drilling program has intersected this zone in 7 holes as a result of its ongoing drilling of the Main Sleepy Zone: these holes generally hosts anomalous gold contents. Three follow-up holes have been completed; assays are pending for these holes.
Upcoming Activities There are currently two drill rigs in operation, one on each of Sleepy and Akasaba. Upon the completion of a 3 hole drilling programme in the East Zone at Sleepy, the rig will be moved to Akasaba to continue drilling on the eastern deep zone, while concurrently testing other targets on the property.
Niogold Mining Corporation completed a 2,545 m drilling programme on Alexandria�?Ts Siscoe East property; data is under review at this time. The project, which is located between the past producing SIscoe and Sullivan Mines (880,000 oz. and 1.2 million oz. of gold, respectively), is governed by an earn-in agreement under which Niogold can earn up to 50% interest in the project. This summer�?Ts drill programme should constitute the final commitment in order to move the project into a Joint Venture
The Company�?Ts first National Instrument 43-101 compliant resource estimate at Akasaba is underway; this study will be completed this winter.
All exploration results presented in this press release have been previously released. This release has been reviewed by the company�?Ts Qualified Persons, Peter Legein, PGeo, and Dr. Eric Owens, PGeo.
About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with one of the largest property packages along the prolific, gold-producing Cadillac Break in Val d�?TOr, Quebec. The Company is currently focused on advancing its Akasaba gold-silver project, and has two NI 43-101 compliant gold resources: at Orenada, at a 0.5 g/t cutoff, the company has delineated 446,000 ounces of gold (Measured and Indicated), and 302,000 ounces of gold (Inferred); at Sleepy, the Company has delineated 150,000 ounces of gold (Inferred). Agnico-Eagle Mines Ltd., who has three producing gold mines in the region, owns roughly 9.9% of the Company, and maintained their position in this Private Placement.
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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For More Information Please Contact:
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Eric Owens, President/CEO
(416) 363-9372
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Andreas Curkovic, Investor Relations (416) 577-9927 |
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www.azx.ca
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Data and Statistics for these countries : Canada | All Gold and Silver Prices for these countries : Canada | All
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Alexandria Minerals Corp
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EXPLORATION STAGE |
CODE : AZX.V |
ISIN : CA0151001009 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Alexandria Min. is a gold and copper exploration 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, € 14.4 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. |
Annual reports of Alexandria Minerals Corp |
Financings of Alexandria Minerals Corp |
10/30/2012 | Announces $2,500,000 Financing |
10/27/2011 | Closes $3,000,000 Financing |
10/7/2011 | Alexandria Minerals Corporation Announces $3,000,000 Financi... |
12/24/2009 | Closes Non-Brokered Private Placement |
12/17/2009 | Announces $500,000 Non-Brokered Private Placement |
5/22/2007 | Closes $3,169,660 Non-Brokered Portion of $7.75 Million Priv... |
5/18/2007 | Closes $4.58 Million Brokered Private Placement |
5/8/2007 | Increases Private Placement to $7,254,708 |
Nominations of Alexandria Minerals Corp |
Financials of Alexandria Minerals Corp |
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 ... |
8/10/2016 | (Orenada)to Commence 4000 Meter Drill Program on High Grade Targets a... |
2/20/2014 | Drills 142.50 g/t Gold Over 0.3 m in Its Winter Exploration ... |
1/14/2014 | Sells 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... |
9/8/2011 | Intersects 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 ... |
9/10/2009 | Multiple 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 |
2/19/2008 | Enlarges 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 ... |
10/31/2007 | Extends 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... |
7/19/2007 | Intersects New Gold Zones in the Cadillac Break on the Airpo... |
6/25/2007 | Drills 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... |
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Corporate news of Alexandria Minerals Corp |
7/27/2016 | Alexandria Minerals Identifies Prospective Targets on Its “T... |
6/24/2016 | Alexandria to Re-Start Drill Program on Its 100% Owned Trian... |
6/22/2016 | Alexandria Minerals Increases Private Placement to $5.1 Mill... |
6/13/2016 | Alexandria Minerals Closes First Tranche of Financing, Raise... |
6/1/2016 | Alexandria Signs Memorandum of Understanding with Matchewan ... |
5/30/2016 | Alexandria Minerals Announces $4 Million Private Placement |
5/19/2016 | Alexandria Enters into Option Agreement with Quinto Real Cap... |
4/13/2016 | Alexandria Drills Triangle Zone-like Targets on its Airport ... |
3/22/2016 | Alexandria Geophysical Survey Reveals New Targets on the Fan... |
3/7/2016 | Alexandria Minerals Sees New Gold Potential at Orenada Throu... |
1/19/2016 | Alexandria Minerals Provides Update of Activities |
1/11/2016 | Alexandria Minerals Announces Intention to Conduct a Normal ... |
11/6/2015 | Alexandria Minerals Corporation Closes Second Tranche of Pri... |
11/5/2015 | Alexandria Minerals Increases Financing to $1.875 Million |
10/24/2015 | Sandstorm Gold Provides Asset Updates |
10/23/2015 | Sandstorm Gold Provides Asset Updates |
10/23/2015 | Alexandria Minerals Closes $1,000,000 First Tranche of Finan... |
10/22/2015 | Alexandria Minerals to Raise $1.8 Million |
10/5/2015 | Alexandria Files NI 43-101 Technical Report for Hudvam Proje... |
8/19/2015 | Alexandria Increases Resources at its Hudvam Project in Flin... |
8/5/2015 | Alexandria Engages FronTier Merchant Capital Group for Inves... |
7/2/2015 | Alexandria Files WIM Technical Report on SEDAR |
4/22/2015 | Alexandria Drills High Grade Gold Veins At Orenada, Includin... |
4/1/2015 | Alexandria Review of Cadillac Break Property Geophysics Yiel... |
3/19/2015 | Alexandria Provides Summary of Recently Acquired Assets and ... |
3/19/2015 | Provides Summary of Recently Acquired Assets and Update of A... |
3/16/2015 | Alexandria Minerals Acquisition of Murgor Resources Complete... |
3/10/2015 | acquisition of Murgor Resources completed |
3/10/2015 | Alexandria Minerals Acquisition of Murgor Resources Complete... |
2/17/2015 | Alexandria Begins Drilling Copper-Gold Zone in Val d'Or |
2/17/2015 | Begins Drilling Copper-Gold Zone in Val d'Or |
2/2/2015 | Alexandria's Acquisition of Murgor Clears Quebec Superior Co... |
2/2/2015 | Alexandria Minerals Corporation Closes Financing |
2/2/2015 | Alexandria Minerals Corporation Announces $500,000 Financing |
1/28/2015 | Alexandria's Acquisition of Murgor Clears Quebec Superior Co... |
1/27/2015 | Murgor Resources obtains interim order for plan of arrangeme... |
12/23/2014 | Alexandria Minerals Corporation to acquire Murgor Resources ... |
12/23/2014 | to acquire Murgor Resources Inc. |
12/9/2014 | Alexandria Files National Instrument 43-101 Technical Report... |
1/10/2014 | Happy New Year from Alexandria Minerals |
11/25/2013 | Expands West Zone by 100m With Wide Gold-Copper Intersection... |
10/24/2013 | Annual General Meeting Brings Michael Pesner to Board |
10/21/2013 | Closes Second Tranche of Private Placement for Gross Proceed... |
10/18/2013 | Announces Increase in Private Placement to $1,026,000 |
9/11/2013 | Closes First Tranche of Financing |
9/10/2013 | Announces $800,000 Financing |
7/24/2013 | (Akasaba)Drilling Identifies New Target Zones North and South of Main... |
5/15/2013 | Expands Sleepy Gold Deposit With Drill Intersection of 3.82 ... |
3/28/2013 | Provides 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%... |
1/17/2013 | Provides Winter Exploration Update |
11/6/2012 | (Akasaba)Metallurgical Study Indicates 95% Recovery of Gold at Akasab... |
4/5/2012 | A Cool 1.4 Million Ounces: Alexandria Minerals Crosses the G... |
1/20/2012 | Mid-Day Breaking News From Alexandria Minerals and Galore Re... |
11/25/2011 | Meet Alexandria at the San Francisco Hard Assets Show |
9/15/2011 | Announces Agreement with NYC Radio, LLC |
5/19/2011 | Third 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... |
7/23/2010 | Engages Pollitt & Co. as Market-Maker |
6/2/2010 | Featured on BNN Commodities Report |
3/23/2010 | Announces $1,820,000 Equity Investment by Agnico-Eagle Mines... |
10/8/2009 | Mapping Program Finds More Evidence For Gold at Matachewan ... |
9/30/2009 | Options Val d'Or Property to Kalahari Resources |
7/22/2009 | Alexandria Secures 100% Interest in Valdora Gold Property, V... |
7/2/2008 | and 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... |
12/4/2007 | Increases Size of Cadillac Break Properties, Val d'Or; Drill... |
10/18/2007 | WILL BE PRESENT AT THE UPCOMING Global Chinese |
9/19/2007 | Continues to Intersect Shallow Gold at Orenada 2 |
9/5/2007 | Drills 3.18 g/t Gold Over 6.60 meters at Orenada 4; Begins T... |
4/18/2007 | to Raise $5,500,000; Second Rig Expands Drilling Program Alo... |
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