TORONTO, ONTARIO--(Marketwire
- Sept. 10, 2009) - Alexandria Minerals Corporation (TSX
VENTURE:AZX)(FRANKFURT:A9D) reported today that an extensive summer
surface sampling and mapping program on its 35 kilometer
long Cadillac Break Property Group has resulted in the discovery of new
high grade gold targets, with rock chip (grab) samples assaying up to
37.3 g/t Au.
Following its successful first round of drilling on its Akasaba project, where the Company intersected 4.22
g/t Au over 8.48 m (true width), including 24.50 g/t Au over 1.03 m
(see Press Release April 30, 2009), the summer season saw the Company
embark on a mapping, sampling, trenching and geophysical programme
covering the Akasaba, Oramaque,
Sabourin, Trivio,
and the newly acquired Valdora, properties. At
Akasaba, previously reported work aided in
the identification of multiple combined Induced Polarization and
Magnetic anomalies, including an anomaly a minimum of 1.5 km long along
the mine horizon, with significant grab sample results up to 600 m away
from the mine area: 26.90 g/t Au, 54.6 g/t Ag, and 4.50% Cu and 10.45
g/t Au, 26.8 g/t Ag and 2.04% Cu (press release June 24, 2009).
Positive sampling results at Akasaba provide
further support for previously-reported assays on two gold-bearing
zones on the property: a total of 14 samples assayed between 1.38 g/t
Au and 12.2 g/t Au from the north and south zones, the former a 640 m
long geophysical anomaly just north of the Akasaba
Mine, and the latter a 950 m long geophysical anomaly, located 250 m
south. Alexandria
plans to begin a second round of drilling at Akasaba
in mid-October, which will aim toward delineating a National Instrument
("NI") 43-101 resource estimate.
On the adjacent Valdora property, where
certain geological structures trend from the Akasaba
property, 6 grab samples from quartz veins and altered volcanic rocks
assayed over 0.88 g/t Au, including 3.57 g/t Au, 1.85% Cu, and 26.0 g/t
Ag, and 3.31 g/t Au, 1.49% Cu and 24.2 g/t Ag. Five km west on the Oramaque property, five samples assayed over 2.87
g/t Au, including 12.75 g/t Au, 25.9 g/t Au and 37.3 g/t Au,
principally in gabbros cut by quartz veins. The Company is reviewing
these data in light of previous results on the properties.
Eric Owens, President and CEO of Alexandria, said, "These results
show that the value of our land package resides just as much in its
totality as in individual projects. The Cadillac Break is among the
world's most prospective gold trends and demands much more exploration.
When combined with the more advanced resource studies underway at Orenada and Sleepy, we have shown that Alexandria's
property package has significant potential beyond currently explored
areas."
To view the map accompanying this map release please click on the
following link: http://www.azx.ca/sproj1.asp
In other matters, the Company expects to complete and release an NI
43-101 compliant resource estimate on its Orenada
property in the coming weeks. Orenada,
located on the Cadillac Break about 12 km west of Akasaba,
is the most advanced of its properties, and will additionally see an NI
43-101 compliant economic assessment completed in early October. Alexandria
will also be completing an NI 43-101 compliant resource estimate for
the second of its 3 principal gold projects, Sleepy, located about 12
km east of Akasaba.
The results presented in this press release are exploratory in nature
and have been reviewed by the company's Qualified Persons, Eddy Canova,
PGeo, and Dr. Eric Owens, PGeo.
There is no Current Resource on these properties as defined by NI
43-101, and there is no guarantee that an economic gold deposit
underlies the properties. More work by an independent Qualified Person
("QP") will be required in order to bring the properties into
compliance with resource definitions in NI 43-101. The surface sampling
program is consistent with industry best practices and the Company's
QA/QC programme continues to be adhered to: samples are recorded,
bagged and sent to ALS Chemex Labs in
Val-d'Or for preparation and assay. Samples are analyzed for Au, Ag, Cu
and Zn, via a 30 gram pulp by FAA for Au and AA for Ag, Cu and Zn. Re-assays
by FA gravimetric finish are performed on samples assaying greater than
1.0 g/t Au and re-assays greater than 5.0 g/t Au are checked a second
time by FA gravimetric finish.
Alexandria Minerals Corp. is a Toronto-based mineral exploration and
development company, focused on the exploration for precious metals on
mineral properties located in Northern Ontario and Quebec. The Company's management has
extensive global experience with small to large mining companies, from
grass-roots exploration to the exploitation of mineral deposits. The
Company is a reporting issuer in the provinces of British
Columbia, Alberta and Ontario.
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.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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