MINERALS CORPORATION
65 QUEEN STREET WEST, SUITE 815
TORONTO, ONTARIO,
M5H 2M5
ALEXIS INTERSECTS 36.10 g Au/t
over 6.4 m on
HANGING WALL ZONE; 34.97
g Au/t over 3.5 m on S1W ZONE; AND,
65.92 g Au/t
over 1.9 m on WEST E
ZONE
- DRILLING CONTINUES TO EXPAND ALL GOLD ZONES AT LAC HERBIN
PROJECT
gAu/t =
grams gold per metric tonne ���������� ??????????������������������ ???????????????????????������� ????????????m = metres
August 15, 2007 – Alexis Minerals
Corporation [TSX-V: AMC] is pleased to announce
additional results from continuing underground delineation drilling on the Lac
Herbin gold project. High-grade ?intersections of up
to 36.1 g Au/t
over 6.4 m (1.05 opt over 21.0
feet) on the Hanging wall (HW) Zone; 34.97 g Au/t over 3.5 m (1.02 opt over 11.5 feet) on
the S1W Zone; and, ?65.92 g Au/t over 1.9 m ??(1.92 ounces per tonne
(opt) over 6.2 feet)
on the West E
(WE) Zone; continue to confirm excellent continuity to the
multiple ore structures identified in the Lac Herbin deposit. Exploration is continuing with three
underground diamond drills. Lateral development is continuing to develop new
access for drilling purposes and is preparing access to selected areas for test
stoping of the ore. The project is located 10 km northeast of Val-d’Or and 1.8 km
from the wholly-owned 1400 TPD Aurbel Gold Mill.
“Lac Herbin underground drilling is returning grades and widths
which continue to exceed our expectations,” said David Rigg, President
and CEO of Alexis Minerals. “Ongoing results are significantly improving
the long-term prospects for the Lac Herbin operation, well beyond the current
4-year model. The structural understanding of the deposit continues to improve
and it is clear the deposit extends strongly to depth and to the
southwest.”
Highlights from on-going underground exploration drilling
include the following new
intersections:
S1W Zone – Table 1
�
34.97 (18.37 cut*) g Au/t
over 3.5 m (LH02-181) including,
- 48.34 (20.73 cut*) g Au/t over? 2.1 m
�
13.28 (7.02 cut*)
g Au/t over 3.5 m (LH02-180)
�
10.14 (9.91 cut*) g Au/t
over 2.5 (LH04-004) including,
- 35.1 (34.28
cut*) over 0.7 m
S1E Zone – Table 1
�
7.8 g Au/t over 2.6 m (LH01-168)
including,
o
13.15
g Au/t
over 0.96 m
HW Zone -
Table 2
�
36.1 (16.54 cut*) g Au/t
over 6.4 m
(LH03-001) including,
- 28.19 (13.77 cut*) g Au/t over 3.2 m, and,
- 78.17 (34.28 cut*) over 1.8 m
�
6.28 g Au/t over 3.7 m
(LH03-012) including,
o
21.8 g Au/t over 1.0 m
WE Zone – Table 3
�
12.72 g Au/t over 2.8 m (LH03-026)
�
65.92 g Au/t over 1.9 m (LH03-036)
(*Cut Grades
- See note in Table 1)
Lac Herbin? Project : Exploration Results
Significant progress has been made during recent
months in understanding the deposit. Exploration has resulted in ore zone
extensions to several of the principle ore zones, namely the S1W, S1E and HW zones. In
addition, the “Deep South”
Zone, the new high grade discovery to the south and outside the
limits of the principle mine resource area; is a brand new, major zone of
mineralization found and delineated from the 200-m level down to the 400-m
level. Results from previous drilling have been reported in press releases of
January 24th, February 14th, March 22nd and
April 26th.
Overall, results to date support the extension of the
Lac Herbin deposit, to depth and to the southwest. Mineralization on the Deep South zone has a strike length of over 250 metres at the 400-m
level, the limit of current drilling. Similarly, the S1W zone has
been extended to depth and exhibits a strike length of 250 metres at the 500-m
level. Both zones remain wide open beneath the current limits of drilling.
Additional extensions are expected to depth and will be tested over the coming
months from a newly developed drill drift completed in July, located to the
south of both of these zones. Drilling to follow the zones down to at least the
800-m elevation will be possible.
New intersections on the deepest, eastern extremity of
the S1E Zone (LH01-168) at the 200-m level
also indicate that this zone remains open to extension further to the
southeast.
WE
Zone re-interpretation increases potential at depth
A recent re-evaluation of exploration data has re-interpreted a
structure that was originally thought to be the host of the HW and HW2 zone.
Many recent and previous drill holes on the HW structures are now believed to
represent intersections in the WE gold zone
(previously limited to a resource of 27,259 tonnes @ 3.44 g Au/t - see Press Release: January 11, 2007).
The new model expands potential in the
WE zone by 100-m in strike length
towards the west, and adds 225-m of down dip extent to below the
275-m vertical elevation. High grade mineralization previously reported in
drilling in this area (10.69 g Au/t over 1.5 m (LH02-107); 19.07 g Au/t over 1.8 m
(LH02-091); 20.71 g Au/t over 1.5 m (LH02-060))
is now correlated with the WE Zone, enhancing potential for increased grades
and tonnage in the zone.
The HW2 zone is recognized as a deeper
zone beneath the WE zone and is mostly unexplored by drilling. Additional
exploration below these previously reported intersections will be directed to
test the deeper HW2 zone.
Quality
Control
The Lac Herbin underground exploration program is
supervised by Mr. Olivier Grondin, P.Geo., and Patrick Sevigny, P.Eng.,
Qualified Persons as defined under NI 43-101 guidelines. Mr. Grondin has reviewed
and is responsible for the technical disclosure in this press release.Assay
samples are taken from underground drill core sawed in half with one half sent
to a commercial laboratory and other half retained for future reference. A
strict QA/QC program is followed which includes mineralized standards, blank
and field duplicate for each batch of samples. Analyses were performed by ALS
Chemex - Chimitec of Val-d’Or (Qu?bec).
About Alexis Minerals
Alexis
Minerals Corporation is a Canadian exploration and development company listed
on the TSX Venture Exchange. Alexis holds an outstanding portfolio of
properties covering the Val-d’Or and Rouyn-Noranda Mining Camps in Quebec. Alexis is
following strategic exploration approaches across these properties for both
gold and base metals, with a focus on the potential for gold production from
the 100%-owned Lac Herbin and Lac Pelletier deposits during 2007 – 2008.
Alexis has a clear route to 100% ownership of all interests of Aur Resources on
approximately 212 square kilometres of the Val-d’Or Mining Camp. Alexis
has purchased the 1400 tonne per day Aurbel gold mill and holds a 100%-interest
in the Aurbel property. The Company is also currently advancing towards a 50%
interest in 825 square kilometres of the Rouyn-Noranda Mining Camp in JV with
Xstrata Copper Canada
(formerly Falconbridge Ltd.). Four (4) underground drills and four (4) surface
drills are currently active on the Val-d’Or and Rouyn-Noranda properties.
?Alexis has the right to earn-in into a 100% interest in the Lac Pelletier
property.
For Further Information Contact:
David
Rigg, President and CEO ����������� ????????????
Tel:
416-861-5889��������������������������������������������� ?????????????????????????????????????????????
Fax:
416-861-8165
Peter Cashin,
Investor & Corporate Affairs������� ???????Louis
Baribeau, Relationiste, Qu?bec
Tel:
416-861-5905��������������������������������������������� ?????????????????????????????????????????????Tel: 514-667-2304 deconsul@videotron.ca
Email: info@alexisminerals.com??? ������������� ????????????????Website: www.alexisminerals.com
Statements in
this release that are not historical facts are “forward-looking
statements” within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995. Readers are cautioned that any such statements are not
guarantees of future performance and that actual developments
or results may vary materially from those in these “forward looking
statements”
The TSX Venture
Exchange does not accept responsibility for the adequacy or accuracy of this
release.
Underground Diamond Drilling
Results, Lac Herbin Project, Val d’Or, Quebec
Notes: *Cut Grade- all assays in excess of 34.28 gAu/t are cut conservatively to 34.28 gAu/t
(or 1.0 troy ounce/tonne), a common industry practice. Cutting factors at Lac
Herbin have been based on statistical results of the bulk sampling and test
milling program completed in November 2006 and reported in January 2007 (see
Press Release: January 16, 2007).
LV= Low
Values ��� ???QT = Quartz
Tourmaline��������������� ?????VG = Visible native Gold
Table 1 – Results from Underground
Diamond Drilling:
S1 Zone, Lac Herbin Project, Val-d’Or, Quebec
Hole Number
|
From-To (m)
|
Length (m)
|
Zone
|
Uncut Grades
(gAu/t)
|
Cut Grades* (gAu/t)
|
True Width (m)
|
LH02-136
|
168.5 – 171.0
|
2.5
|
S1W
|
|
LV
|
1.5
|
LH02-137
|
135.0 – 137.5
|
2.5
|
S1W
|
|
LV
|
2.0
|
LH02-135
|
173.0 – 175.5
|
2.5
|
S1W
|
|
LV
|
1.5
|
LH03-003
|
29.5 – 31.5
|
2.0
|
S1W
|
|
LV
|
1.5
|
LH03-002
|
27.0 - 28.5
|
1.5
|
S1W
|
|
LV
|
1.5
|
LH03-004
|
34.5 – 36.9
|
2.4
|
S1W
|
|
LV
|
2.0
|
LH03-005
|
30.0 – 31.3
|
1.3
|
S1W
|
|
LV
|
1.0
|
LH01-170
|
65.2 – 70.9
|
5.7
|
S1W
|
|
LV
|
5.5
|
LH01-172
|
63.7 – 67.6
|
3.9
|
S1W
|
|
LV
|
3.9
|
LH01-174
|
62.3 – 63.0
|
0.7
|
S1W
|
|
LV
|
0.5
|
LH02-177
|
279.5 – 282.2
|
2.7
|
S1W
|
|
LV
|
1.5
|
LH02-179
|
134.8 – 143.7
|
8.9
|
S1W
|
|
3.47
|
5.0
|
LH02-180
|
152.7 – 156.2
|
3.5
|
S1W
|
13.28
|
7.02
|
2.5
|
LH02-181
|
195.8 – 199.3
|
3.5
|
S1W
|
34.97
|
18.37
|
2.0
|
including
|
195.8 –
197.9
|
2.1
|
S1W
|
48.34
|
20.73
|
1.2
|
LH02-194
|
207.4 – 210.6
|
3.2
|
S1W
|
0.27
|
0.27
|
1.5
|
LH02-193
|
177.2 – 180.3
|
3.1
|
S1W
|
3.29
|
3.29
|
2.0
|
including
|
177.2 – 177.6
|
0.4
|
S1W
|
25.3
|
25.3
|
0.26
|
LH02-192
|
146.3 – 148.3
|
2.0
|
S1W
|
2.41
|
2.41
|
1.5
|
LH01-168
|
86.3 – 88.9
|
2.6
|
S1E
|
7.80
|
7.80
|
2.5
|
including
|
87.3 –
88.3
|
1.0
|
S1E
|
13.15
|
13.15
|
0.96
|
LH01-169
|
94.5 – 102.4
|
7.9
|
S1W
|
0.29
|
0.29
|
5.0
|
LH04-004
|
31.9 – 34.4
|
2.5
|
S1W
|
10.14
|
9.91
|
2.5
|
including
|
32.5 –
33.2
|
0.7
|
S1W
|
35.1
|
34.28
|
0.7
|
LH04-003
|
38.7 – 41.2
|
2.5
|
S1W
|
|
LV
|
2.0
|
LH01-171
|
71.0 – 78.7
|
7.7
|
S1W
|
2.22
|
2.22
|
7.0
|
including
|
71.4 –
72.5
|
1.1
|
S1W
|
10.05
|
10.05
|
1.0
|
including
|
78.2 –
78.7
|
0.5
|
S1W
|
11.9
|
11.9
|
0.45
|
LH02-185
|
139.7 – 141.8
|
2.1
|
S1W
|
1.49
|
1.49
|
1.8
|
LH01-173
|
87.0 – 89.2
|
2.2
|
S1W
|
1.42
|
1.42
|
1.5
|
Table 2 – Results from Underground
Diamond Drilling:
HW Zone, Lac Herbin
Project, Val-d’Or, Quebec
Hole Number
|
From - To (m)
|
Length (m)
|
Zone
|
Uncut Grades
(gAu/t)
|
Cut Grades* (gAu/t)
|
True Width (m)
|
LH03-008
|
24.5
|
-
|
26.6
|
2.1
|
HW
|
|
LV
|
2.0
|
LH03-011
|
34.8
|
-
|
41.2
|
6.4
|
HW
|
36.10
|
16.54
|
5.0
|
including
|
34.8
|
-
|
38
|
3.2
|
HW
|
28.19
|
13.77
|
2.5
|
and
|
39
|
-
|
40.8
|
1.8
|
HW
|
78.17
|
34.28
|
1.4
|
LH03-012
|
28.3
|
-
|
32
|
3.7
|
HW
|
6.28
|
6.28
|
3.7
|
including
|
29.3
|
-
|
30.3
|
1.0
|
HW
|
21.80
|
21.80
|
1.0
|
LH03-006
|
23.3
|
-
|
29.2
|
5.9
|
HW
|
2.70
|
2.70
|
4.0
|
including
|
25.9
|
-
|
26.6
|
0.7
|
HW
|
20.0
|
20.0
|
0.47
|
LH03-017
|
32.5
|
-
|
36
|
3.5
|
HW
|
|
LV
|
2.5
|
LH03-018
|
32.1
|
-
|
35
|
2.9
|
HW
|
5.87
|
5.87
|
2.5
|
LH03-019
|
18.4
|
-
|
25.5
|
7.1
|
HW
|
|
LV
|
5.5
|
including
|
34.3
|
-
|
35
|
0.7
|
HW
|
22.40
|
22.40
|
0.6
|
LH03-020
|
33
|
-
|
36.7
|
3.7
|
HW
|
|
LV
|
3.0
|
LH03-037
|
15.1
|
-
|
18.3
|
3.2
|
HW
|
|
LV
|
3.2
|
LH03-038
|
20.5
|
-
|
24.1
|
3.6
|
HW
|
0.54
|
0.54
|
3.0
|
LH03-039
|
24
|
-
|
27
|
3.0
|
HW
|
|
LV
|
3.0
|
LH03-033
|
33
|
-
|
39.4
|
6.4
|
HW
|
0.15
|
0.15
|
5.0
|
LH03-040
|
31.6
|
-
|
34.1
|
2.5
|
HW
|
1.91
|
1.91
|
2.0
|
Table 3 – Results from Underground
Diamond Drilling
West E (WE) Zone, Lac Herbin Project,
Val-d’Or, Quebec
Hole Number
|
From-To (m)
|
Length (m)
|
Zone
|
Uncut Grades (g Au/t)
|
Cut Grades* (g Au/t)
|
True Width
(m)
|
LH03-011
|
24.3 –
29.6
|
5.3
|
WE
|
4.96
|
4.96
|
4.5
|
LH03-026
|
51.9 –
54.7
|
2.8
|
WE
|
12.72
|
12.72
|
2.0
|
LH03-036
|
47.9 –
49.8
|
1.9
|
WE
|
65.92
|
12.97
|
1.5
|