Alexandria Deepens the Sleepy Zone by 100 m with Drill Intersection of 13.45 g/t Au over 0.70 m
June 04 2014 - 10:23AM
Marketwired
Alexandria Deepens the Sleepy Zone by 100 m with Drill Intersection
of 13.45 g/t Au over 0.70 m
TORONTO, ONTARIO--(Marketwired - Jun 4, 2014) - Alexandria
Minerals Corporation
(TSX-VENTURE:AZX)(FRANKFURT:A9D)(PINKSHEETS:ALXDF) is pleased to
report on three of its winter drill holes from its 9 holes, 4,000 m
winter step-out drilling program on its Sleepy project in Val d'Or,
Québec, which has intersected high grade gold assays from both the
Sleepy Zone and the separate Ozawi Zone, 100 m to the south of the
Sleepy Zone.
Diamond drill holes SAX-14-027A and SAX-14-028 penetrated the
target Sleepy Zone 100 m and 65 m below the nearest gold-bearing
holes, extending gold mineralization to 550 m vertical depth. DDH
SAX-14-27A intersected 13.45 g/t Au over 0.70m Au in the Sleepy
Gold Zone, part of a broader zone of albite-quartz-pyrite
alteration. Similarly, DDH SAX-14-028 intersected 2 separate high
grade zones, 5.35 g/t over 0.50 m and 5.41 g/t over 0.50 m, each
part of a broader lower grade envelope of 0.72 g/t Au over 21.00
m.
These drill holes further enlarge the high grade zone that
Alexandria's geologists discovered below the Current Resources
(National Instrument 43-101 compliant Inferred Resources of 1.5
million tonnes grading 3.0 g/t Au, for 150,400 ounces of gold).
This high grade zone, with assay results up to 6.82 g/t over 16.96
m true width, is now 200 m long by 200 m deep.
Table 1. Selected Assay Results from the Sleepy
Zone. |
Hole # |
From (m) |
To (m) |
Core Length (m) |
T.W. (m) |
Au g/t |
SAX-14-027-A |
596.00 |
596.70 |
0.70 |
0.52 |
13.45 |
SAX-14-028 |
634.00 |
658.00 |
24.00 |
15.28 |
0.65 |
|
Including |
634.00 |
655.00 |
21.00 |
13.37 |
0.72 |
|
Including |
634.00 |
634.50 |
0.50 |
0.32 |
5.35 |
|
Including |
643.00 |
657.00 |
14.00 |
8.93 |
0.76 |
|
Including |
643.00 |
643.50 |
0.50 |
0.32 |
5.41 |
Diamond drill holes SAX-14-027- and SAX-14-027-A also
intersected high grade gold mineralization along the Ozawi Zone
(formerly the South Zone), a shear zone some 100 m to the south of
the Sleepy Zone. The Company has previously intersected high grade
mineralization in the Ozawi Zone, such as 27.0 g/t Au
over 8.4 m, including 248.8 g/t Au over 0.50 m. Company
geologists are monitoring and reviewing these results with an eye
toward further drill testing.
Table 2. Selected Assay Results from the Ozawi
Zone. |
Hole # |
From (m) |
To (m) |
Core Length (m) |
T.W. (m) |
Au g/t |
SAX-14-027 |
449.50 |
458.60 |
9.10 |
5.86 |
1.13 |
|
Including |
454.80 |
455.30 |
0.50 |
0.32 |
2.49 |
|
Including |
455.80 |
456.60 |
0.80 |
0.52 |
8.43 |
SAX-14-027-A |
446.30 |
452.00 |
5.70 |
4.09 |
1.78 |
|
Including |
449.30 |
450.00 |
0.70 |
0.50 |
6.95 |
The Company intends to provide an updated National Instrument
43-101 Resource Estimate later this year.
Elsewhere, the Company is continuing drill target planning for
its 10,000 m drill program on the western portions of its 35 km
long Cadillac Break group of properties. During the winter,
Alexandria completed 18 square km of surface and downhole
Geophysical surveys (Induced Polarization), as well as 8148.35 m of
drilling, all of which have provided numerous follow-up drill
targets.
Program design, management, and Quality Control/Quality
Assurance are governed by Alexandria's exploration group of which
Philippe Berthelot, P.Geo, is the Company's Qualified Person. Mr.
Berthelot has reviewed the results in this press release. All
exploration work on the property is conducted under the direct
supervision of Emilie Batailler P.Geo and Philippe Berthelot. The
QA/QC program is consistent with NI 43-101 and industry best
practices and has been previously addressed in the NI 43-101
Technical Report on the Cadillac Break properties (February 2008)
as well as in subsequent NI 43-101 reports found on the Company's
website or on www.sedar.com.
Further information about the Company is available on the
Company's website, www.azx.ca, or our social media sites listed
below:
Facebook:
https://www.facebook.com/pages/Alexandria-Minerals-Corporation-AZXTSXV/186115074772628
Twitter: https://twitter.com/azxmineralscorp
YouTube: http://www.youtube.com/AlexandriaMinerals
Flickr: http://www.flickr.com/alexandriaminerals/
About Alexandria
Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold
exploration and development company with one of the largest
portfolio of properties along the prolific, gold-producing Cadillac
Break in Val d'Or, Quebec. Global gold resources are distributed
between three projects on its Cadillac Break Property package,
Akasaba, Sleepy, and Orenada, the details of which can be found on
the Company's website at www.azx.ca. The Company is currently
focused on advancing its Akasaba project. Agnico-Eagle Mines Ltd.,
with three producing gold mines in the region, owns roughly 9% of
the Company.
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.
Alexandria Minerals CorporationEric Owens,
PGeoPresident/CEO(416) 363-9372info@azx.caAlexandria Minerals
CorporationMary VorvisVice-President Corporate Development &
Investor Relations(416) 305-4999info@azx.cawww.azx.ca