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Alexandria Minerals Continues to Delineate Gold Mineralization at Akasaba

As the world economy revives and investor confidence returns companies that would catch investor attention are those that continue to add value to their assets through exploration and development activities.

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As the world economy revives and investor confidence returns companies that would catch investor attention are those that continue to add value to their assets through exploration and development activities. That has always been the case with Canadian Venture and Frankfurt listed Alexandria Minerals Corporation (TSX VENTURE: AZX, FRANKFURT: A9D). The company continues to make progress at Akasaba project in Val d'Or, Quebec and has intersected 15.9 g/t Au over 0.3 m (core length) and, in a separate hole, 1.12 g/t Au over 19.70 m, from its recently completed 2,500 m drill programme.

Acquired from Cambior Inc., the Akasaba project lies in the center of Cadillac Break group of properties. The most significant feature on the property is the historic Akasaba Mine, where 262,500 tonnes grading 5.14 g/t gold were mined in the 1960s. Little work was completed on the property until Louvem Mines reviewed and drilled the property in the 1980’s. In 1987, Louvem estimated the mine hosted a further 255,000 tonnes grading 6.3 g/t gold.

In May AZX completed its first exploration work on the property since acquisition: a three-hole drill programme focused on the northern D Lens to verify historic results, such as 56.57 g/t Au over 1.2 m, 39.62 g/t Au over 4.5 m, and 18.12 g/t Au over 9.8 m, and expand the known gold zones below historical depths of 200m. Results from that programme include 2.77 g/t Au over 18.90m, inc. 57.23g/t Au over 0.50m, at a depth of 330m and 4.22 g/t Au over 10.35m, inc. 24.50 g/t Au over 1.30m. A recent follow-up drill programme totalling 2,500 m has further expanded the gold zone there, with results such as 20.48 g/t Au over 3.30 m.

AZX has continued its exploration activities since then and recent results form a part of its ongoing drill programme. The high-grade intersection in DDH IAX-09-65 is the deepest yet on the property, at 457 m vertical depth. Unlike prior ore-grade intersections, which are hosted principally in sulfide-rich basalt and mafic tuff, this intersection is hosted in diorite with less than 1% sulfides. Together with anomalous intersections in diorite and dacite from previous holes to the west, it appears to delineate a new vein south of the main target in the Mine Horizon.

Two hundred meters west of the mine, DDH IAX-09-66 intersected 1.12 g/t Au over 19.70 m at 100m vertical depth. Previously reported drill holes and trenches from this western area, up to 600 m west of the mine, show evidence of broad, shallow level mineralization over substantial widths: up to 1.00 g/t Au over 28.60 m and 1.30 g/t Au over 13.30 m in drill holes and 0.74 g/t Au over 23.3 m and 1.79 g/t over 13.5 m in trenches.

According to Eric Owens, President and CEO the continuity of gold mineralization along the main Mine Horizon and high grades as they go deeper justify the company’s continued development efforts. Owens confirmed that they plan to further explore the property and deliver a resource estimate later this year.

About Alexandria Minerals
Alexandria Minerals is a junior gold company focused on acquiring, exploring and developing high-potential properties in geologically favourable and politically stable areas of the world. The company is focused on the development of one or more of three gold projects on its Cadillac Break property group which, at 35 km long, is one of the largest gold properties in one of the most prolific gold mining districts in the world, Val d’Or, Quebec, Canada. To-date the company has identified 550,000 ounces of gold resources on two of the three projects, Orenada and Sleepy, and is working to enlarge the third, Akasaba. 

Quick facts: Alexandria Minerals Corporation

Price: - CAD

TSX-V:AZX
Market: TSX-V
Market Cap: -
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