TORONTO, ONTARIO--(Marketwired - April 9, 2013) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D)(PINKSHEETS:ALXDF) reported today on follow-up drill results from the West Gold-Copper Zone on its Akasaba Project in Val d'Or, Quebec. Diamond Drill Hole IAX-13-232 intersected 163.90 m grading 0.36 g/t Au and 0.20% Cu, including 81.65 m grading 0.53 g/t Au and 0.30% Cu. This hole tested the target zone 50 m below the Current Resource and shows that significant gold-copper mineralization continues at depth below the resource.
A second hole, IAX-13-234, intersected 41.00 m grading 0.22 g/t Au and 0.16% Cu, is encouraging because it suggests the gold-copper zone expands at depth 200 m below the surface, enlarging the West Zone to 500 m long along strike.
Eric Owens, President and CEO, said, "In addition to the expansion of the size of the West Zone, the results continue to be significant because the copper content has as much value as the gold content. Not only do they offer the prospect of holding economic potential, but the geology and style of mineralization suggests similarities to other significant gold districts such as the La Ronde-Bousquet-Doyon camp in Western Quebec, an area that has produced some 26 million ounces of gold over an 8 km stretch, about 1/4 the size of Alexandria's property group."
Table 1. Assays in recent step-out drilling at the West Zone.
Hole ID
From (m)
To (m)
Length (m)
Est'd True Width (m)
Au g/t
Ag g/t
Cu%
Au. Eq. (g/t)1
IAX-13-232
233.15
242.50
9.35
5.85
0.31
0.25
0.05
0.39
IAX-13-232
264.00
427.90
163.90
105.47
0.36
0.73
0.20
0.71
including
278.35
360.00
81.65
52.19
0.53
0.53
0.30
1.04
including
309.00
313.40
4.40
2.80
1.09
3.33
0.76
2.40
IAX-13-232
328.50
332.85
4.35
2.79
1.40
2.02
0.42
2.14
IAX-13-232
352.90
358.00
5.10
3.30
1.59
0.93
0.22
1.98
including
352.90
354.00
1.10
0.71
3.39
0.70
0.21
3.75
IAX-13-232
420.20
420.70
0.50
0.33
4.25
1.00
0.08
4.39
IAX-13-234
187.50
228.50
41.00
26.33
0.22
0.43
0.16
0.50
including
198.40
208.50
10.10
6.50
0.29
0.79
0.27
0.76
including
203.60
207.50
3.90
2.51
0.48
0.99
0.33
1.05
IAX-13-234
219.40
227.50
8.10
5.23
0.48
0.32
0.19
0.81
including
219.40
223.50
4.10
2.64
0.73
0.39
0.27
1.20
IAX-13-234
470.00
497.40
27.40
18.29
0.11
0.25
0.09
0.26
Note 1: Au. Eq., or Gold Equivalent, equals the grade of gold in g/t plus the grade of copper expressed in equivalent value of gold in g/t based on $1325/oz Au and $7.40/kg Cu.
The West Gold Copper Zone hosts Inferred Resources of 14,863,740 tonnes grading 0.69 g/t Au and 0.41% Cu (See Press Release February 7, 2013), for a Gold Equivalent grade of 1.40 g/t Au. Eq. (Gold plus the value of copper expressed in g/t Au). The new holes expand the West Zone to 500 m long, 350 m deep and 60 m wide, and remain open at depth and to the west.
The Company has completed its wintertime drilling program and will be receiving further assays from its Akasaba and Sleepy projects. A total of 21 drill holes were completed during the winter, for 9,421 m. In the coming months, work will begin on in-fill drilling of the Company's open pit resources at Akasaba and secondarily, at Orenada, in order to upgrade these resources.
Program design, management, and Quality Control/Quality Assurance are governed by Alexandria's exploration group of which Peter Legein, P.Geo, and Eric Owens, P.Geo, are the Company's Qualified Persons. Mr. Legein and Mr. Owens reviewed the results in this press release. 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, http://www.azx.ca/, or our social media sites listed below:
Facebook: https://www.facebook.com/pages/Alexandria-Min...5074772628
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 two producing gold mines in the region, owns roughly 10% 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 CorporationAndreas CurkovicInvestor Relations(416) 577-9927Alexandria Minerals CorporationEric OwensPresident/CEO416-363-9372info@azx.cawww.azx.ca
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