Apr
23

Goldstar Minerals Intersects 0.91% Zn, 0.24% Pb And 6 g/t Ag Over 10 Meters, Uncovering a Potential Broken Hill Type Mineralization at Julien Project

GDM

MONTREAL, QUEBEC–(April 23, 2014) - Goldstar Minerals Inc. (TSX VENTURE:GDM) (the « Company » or « Goldstar ») is pleased to announce the results for its Winter 2014 diamond drilling program for its 100% owned Julien Property, located approximately 100 km East of the town of Mattagami, Quebec, Canada. The goal of the Winter 2014 drilling program was to test several coincident induced polarization (« IP ») and magnetic anomalies that were previously outlined during Fall of 2013, for precious and base metals.

A total of 1,337 m of diamond drilling from 8 NQ size holes was completed by a local contractor, Forages Chibougamau of Chibougamau, Quebec. These holes targeted an area approximately 3 km2 in size, between an amphibolite, immediately adjoining the Opatica-Abitibi suture zone, and a diorite intrusion several kilometres wide to the south. The drilling program was able to access the north-central portion of the property.

The results show multiple disseminated zinc-lead-silver intersections with low Cu (copper) and high levels of Mn (manganese), Ca (calcium), Fe (iron) and P (phosphorus) as shown by the widespread presence of spessartine, a manganiferous garnet. This assemblage at the convergence of an intrusive and a rifted suture zone is potentially similar to the Broken Hill type of deposit.

As well, one of the drill holes, JU-14-06, intersected 10 meters of 0.91% Zn, 0.24% Pb, 6.0 g/t Ag and up to 0.03% WO3 within an oxidized metasedimentary quartzo-feldspathic sequence (wacke) in a new, possibly rift-related structure. Relatively higher Zn to Pb ratio suggests that this may represent a distal mineralization or an outside envelope to a mineralized system.

Holes JU-14-01 and JU-14-02 intersected several thin (25 metres wide) banded iron formations (BIF). These BIFs are mainly constituted of pyrrhotite as the dominant Fe sulphide, magnetite and coarse grained spessartine. The relationship of these BIFs with the mineralized intersections is not clear and will require further exploration.

The average overburden thickness is roughly 4.5 metres vertical and highlights the possibility of using soil geochemical prospecting in further exploration as an efficient tool to pinpoint additional mineralized zones.

The best intersections from the 2014 diamond drilling campaign on the Julien Property are as follows:

TABLE 1  2014 DIAMOND DRILLING PROGRAM
JULIEN PROJECT, EAST OF MATTAGAMI AREA
TECHNICAL PARAMETERS COMPOSITE ASSAY RESULTS WITH INTERVAL VALUES GREATER THAN 0.25% Zn
Drill Hole Length (m) From (m) To (m) Length (m) Zn (%) Pb (%) Ag (g/t) WO3 (%)
JU-14-02 164 18.50 20.50 2.00 1.13 0.05 13.0 0.01<
And 37.78 41.48 3.70 0.37 0.08 5.6 0.06
And 125.85 127.85 2.00 0.37 0.19 7.0 0.01<
And 161.85 162.85 1.00 0.27 0.14 3.0 0.01<
JU-14-05 219 162.52 163.52 1.00 1.24 0.54 8.0 0.01<
JU-14-06 141 24.75 34.75 10.00 0.91 0.24 6.0 0.01<
JU-14-07 150 141.90 142.90 1.00 0.28 0.14 2.0 0.01<

True widths of the reported core intersections are not known, but are estimated to be 70% of these intervals.

Benoit Moreau, President and Chief Executive Officer of Goldstar Minerals, stated: “In addition to the information gathered about the new zinc-lead-silver intersections, the drill program on the Julien property identified potential similarities with a Broken Hill type of mineralization. These results clearly warrant further and more detailed exploration.”

Second Phase of Exploration on Julien Property

As a result of the structures and mineralization discovered in the 2014 Winter drill program, the Company is already planning a second more detailed phase of exploration in the same targeted 3km2 area. This phase, planned for Summer 2014, will, among other things, focus on specific drill holes such as JU-14-06 and include detailed geochemical soil sampling and IP surveys in order to further track and discover underlying vectors for additional mineralizations, confirming the mineralized trend uncovered by the assays.

Quality Assurance/Quality Control

The Julien exploration program has been conducted under the supervision of Mr. Roger Moar, Director of Exploration for Goldstar and a qualified person as defined by National Instrument 43-101. Goldstar has implemented and adheres to a strict Quality Assurance/Quality Control program which includes mineralized standards and blanks for each batch of samples (averaging 1 for every 25). A total of 306 samples of length varying from 0.40 to 2.00 meters were sent for assays from drill core sawed in half with one half sent to la Table Jamésienne de Concertation Minière, an independent preparation facility in Chibougamau, Quebec certified for preparation and the other half retained for future reference. Pulps were sent to ALS Chemex, an independent laboratory, of Val D’Or, Quebec certified for assay.

Samples were assayed for gold by fire assay with atomic absorption spectroscopy finish and all other elements used induced coupled plasma atomic emission spectroscopy (ICP-AES). High grade silver assays were checked using fire assay with gravimetric finish. Quality control procedures consisted of 3 standards and 1 blank inserted every 100 samples.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Benoit Moreau, Goldstar’s President and CEO, a professional engineer and a qualified person as defined by National Instrument 43-101.

About Goldstar Minerals Inc.

Goldstar Minerals inc. is focused on developing high-value tungsten and related metals deposits in leading mining jurisdictions. The Company is led by a diverse team of explorers, developers and operators with major company experience and a clear understanding of the business of mining. The Goldstar Minerals portfolio includes the Julien zinc-lead-silver-tungsten project, located East of Mattagami, Quebec, the Brockaby tungsten project located northeast of Mont-Laurier, Quebec and the Lake George tungsten project in New Brunswick, all mining friendly jurisdictions.

For more information about Goldstar Minerals Inc., please visit : www.goldstarminerals.com

On behalf of the board of directors of Goldstar Minerals Inc.,

« Benoit Moreau »
Benoit Moreau
President & Chief Executive Officer

FORWARD-LOOKING INFORMATION: This document includes forward-looking information as well as historical information. Forward-looking information includes, but is not limited to, statements with respect to the Company’s planned exploration program for 2014, the continued advancement of the Company’s general business and the Company’s development of mineral exploration projects. When used, in this document, the words « anticipate », « believe », « estimate », « expect », « intent », « may », « project », « plan », « should » and similar expressions may identify forward-looking information. Although Goldstar Minerals Inc. believes that their expectations reflected in this forward-looking information are reasonable and are based on the information currently available to the Company, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with such forward-looking information. Important factors that could cause actual results to differ from this forward-looking information includes the potential for fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the inability to obtain financing and other risks disclosed in the Company’s public filings made with Canadian Securities Regulators and available under the Company’s profile at www.sedar.com. This forward-looking information contained in this press release is made as of the date hereof and the Company does not undertake to update such information, except as required by securities laws.

 

Benoit Moreau
bmoreau@goldstarminerals.com
(514) 591-8058

Apr
22

Fission Hits Continuous 102.5M @ 5.98% U3O8; Widest High-Grade Interval to date at PLS

FCU

KELOWNA, BRITISH COLUMBIA–(April 22, 2014) - FISSION URANIUM CORP. (TSX VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) (“Fission” or “the Company”) is pleased to announce assay results from nine holes drilled in the R780E zone at its Patterson Lake South (PLS) property in Saskatchewan’s Athabasca Basin, Canada. Of exceptional note is hole PLS14-187, located on line 660E. With intermittent mineralization starting at the shallow depth of just 58.50m, and continuous mineralization from 63.0m, the hole returned a continuous 102.5m interval of 5.98% U3O8 – the widest high-grade interval to date at PLS.  A lower interval of substantial mineralization followed, yielding 1.63% U3O8 over 15.0m.

With a composite Grade %U3O8 x Thickness in meters (GT) value of 613 for the upper interval, PLS14-187 is the second strongest mineralized hole to date at PLS. It is surpassed only by hole PLS14-129 which included intervals such as 38.0m @ 13.66% U3O8 and 31.5m @ 11.19% U3O8 (see NR March 24, 2014). All nine holes returned wide intervals of mineralization.

Assay Highlights

PLS14-187 (Line 660E)
102.5m (63.0m to 165.5m) @ 5.98% U3O8, including:
3.0m (68.0m to 71.0) @ 27.20% U3O8, and
10.5m (78.0m to 88.5m) @ 12.93% U3O8, and
6.0m (108.5m to 114.5m) @ 14.12% U3O8, and
2.5m (143.5m to 146.0m) @ 16.92% U3O8, and
4.5m (152.5m to 157.0m) @ 16.14% U3O8
15.0m (216.5m to 231.5m) @ 1.63% U3O8, including
9.0m (218.5m to 227.5m) @ 2.59% U3O8
PLS14-146 (Line 915E)
47.0m (132.0m to 179.0m) @ 2.18% U3O8, including:
3.0m (163.0m to 166.0m) @ 4.30% U3O8, and:
2.0m (171.5m to 173.5m) @ 14.27% U3O8
PLS14-145 (Line 825E)
22.5m (132.0m to 154.5m) @ 0.97% U3O8, including:
7.5m (144.0m to 151.5m) @ 2.24% U3O8

Ross McElroy, President, COO, and Chief Geologist for Fission, commented,

“This is a superb set of assays, which highlights the remarkable growth rate of the PLS discovery so far and the continued potential of its mineralized system. With 102.5m at 5.98% U3O8, PLS14-187 in particular is an exceptional hole and represents a tremendous amount of high-grade mineralization. We are delighted by these results.”

Composited % U3O8 mineralized intervals are summarized in Table 1 below. Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK for analysis which includes U3O8 (wt %) and fire assay for gold, while the other half remains on site for reference. All analysis include a 63 element ICP-OES, uranium by fluorimetry and boron. All depth measurements reported, including sample and interval widths are down-hole, core interval measurements and true thickness are yet to be determined.

Table 1

Composited Mineralized Intervals (Down-hole measurements)

Zone Hole ID Grid Line From (m) To (m) Interval (m) U3O8 (wt%)
R780E PLS14-138 285E 73.00 107.00 34.00 0.20
109.50 110.00 0.50 0.06
113.00 116.00 3.00 0.17
123.00 128.00 5.00 0.21
131.50 135.00 3.50 0.16
137.50 141.00 3.50 0.40
150.50 152.00 1.50 0.09
165.00 167.00 2.00 0.67
170.00 187.00 17.00 1.04
173.50 178.00 4.50 2.88
PLS14-139 585E 66.00 67.50 1.50 0.05
119.50 126.50 7.00 0.15
130.00 160.00 30.00 0.15
199.00 207.50 8.50 0.28
PLS14-140 780E 191.00 198.00 7.00 0.16
202.00 207.50 5.50 0.07
217.50 218.00 0.50 0.05
225.50 245.00 19.50 0.10
250.50 251.00 0.50 0.36
254.50 262.00 7.50 0.28
264.50 271.00 6.50 0.09
302.00 304.50 2.50 0.15
374.50 375.00 0.50 0.06
377.50 378.00 0.50 0.09
408.00 415.00 7.00 0.18
PLS14-142 480E 87.50 90.00 2.50 0.06
130.50 141.00 10.50 0.08
143.50 150.00 6.50 0.05
154.50 177.50 23.00 0.09
181.00 181.50 0.50 0.06
218.00 218.50 0.50 0.06
306.50 307.00 0.50 0.06
PLS14-145 825E 78.00 79.50 1.50 0.08
89.50 117.00 27.50 0.13
120.00 120.50 0.50 0.10
122.50 124.00 1.50 0.05
126.50 128.00 1.50 0.09
132.00 154.50 22.50 0.97
144.00 151.50 7.50 2.24
159.00 160.00 1.00 0.28
171.00 172.50 1.50 0.36
175.00 176.00 1.00 0.07
178.50 181.00 2.50 1.34
183.50 184.00 0.50 0.15
188.50 189.00 0.50 0.10
192.50 193.00 0.50 0.14
199.00 199.50 0.50 0.13
203.50 211.00 7.50 0.40
213.50 214.50 1.00 0.05
218.00 226.00 8.00 0.22
279.00 279.50 0.50 0.17
283.00 284.50 1.50 0.37
291.50 294.50 3.00 0.04
316.00 317.50 1.50 0.12
320.50 321.00 0.50 0.16
330.00 330.50 0.50 0.07
347.50 348.00 0.50 0.08
PLS14-146 915E 125.00 129.00 4.00 0.07
132.00 179.00 47.00 2.18
163.00 166.00 3.00 4.30
171.50 173.50 2.00 14.27
181.50 184.50 3.00 1.17
202.50 203.00 0.50 0.07
212.00 213.50 1.50 0.09
216.50 217.50 1.00 0.49
222.50 225.00 2.50 0.46
237.00 241.00 4.00 1.04
239.00 240.00 1.00 3.64
254.00 256.00 2.00 3.19
259.50 264.00 4.50 0.11
272.00 273.50 1.50 0.15
363.00 369.00 6.00 0.16
PLS14-147 615E 112.00 112.50 0.50 0.10
115.00 143.50 28.50 0.15
146.00 150.50 4.50 0.10
154.00 161.00 7.00 0.18
164.50 165.00 0.50 0.06
198.00 201.50 3.50 0.08
208.50 209.00 0.50 0.08
212.00 212.50 0.50 0.06
221.00 222.00 1.00 0.08
PLS14-151 615E 117.00 117.50 0.50 0.08
120.00 121.50 1.50 0.12
125.50 131.50 6.00 0.31
137.00 139.50 2.50 0.11
144.50 148.00 3.50 0.12
213.00 215.50 2.50 0.61
222.50 225.50 3.00 0.11
PLS14-187 660E 58.50 60.50 2.00 0.06
63.00 165.50 102.50 5.98
68.00 71.00 3.00 27.20
78.00 88.50 10.50 12.93
108.50 114.50 6.00 14.12
143.50 146.00 2.50 16.92
152.50 157.00 4.50 16.14
190.00 194.50 4.50 0.08
198.00 201.50 3.50 0.21
204.00 212.00 8.00 0.09
216.50 231.50 15.00 1.63
218.50 227.50 9.00 2.59
Composite Parameters
1. Minimum Thickness: 0.50m
2. Grade Cut-Off: 0.05 U3O8 (wt%)
3. Maximum Internal Dilution: 2.00m

PLS Mineralized Trend Summary

Uranium mineralization at PLS has been traced by core drilling over 2.24km of east-west strike length in five separate mineralized “zones” from line 615W (PLS13-124) to line 1620E (PLS14-196). From west to east, these zones are; R600W, R00E, R780E, R1155E and R1620E. The former R390E, R585 and R945E zones have been merged into the R780E zone by successful winter drilling. Mineralization remains open along strike both to the western and eastern extents. Mineralization is both located within and associated with a metasedimentary lithologic corridor, bounded to the south by the PL-3B basement Electro-Magnetic (EM) Conductor.

Fission has received and released assay results on 22 holes from its winter 2014 drill program at PLS. Updated maps and files can be found on the Company’s website at http://www.fissionuranium.com/project/pls/overview/.

Patterson Lake South Property

The 31,039 hectare PLS project is 100% owned and operated by Fission Uranium Corp. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, P.Geol. President and COO for Fission Uranium Corp., a qualified person.

About Fission Uranium Corp.

Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property and is headquartered in Kelowna, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol “FCU” and trade on the OTCQX marketplace in the U.S. under the symbol “FCUUF.”

ON BEHALF OF THE BOARD

Ross McElroy, President and COO

Cautionary Statement: Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission and Fission Uranium which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company and Fission Uranium disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Neither 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.

Fission Uranium Corp.
Rich Matthews
Investor Relations
TF: 877-868-8140
rich@fissionuranium.com
www.fissionuranium.com

Apr
21

Santa Fe Metals Corp.: Sully SEDEX Project – Drilling Update

 

SFMVANCOUVER, BRITISH COLUMBIA–(April 21, 2014) - Santa Fe Metals Corp. (TSX VENTURE:SFM) (“SFM” or the “Company”) announces that drill hole SU14-07 is now over 610-m deep and is continuing on a planned trajectory toward the East sedimentary exhalative (SEDEX) target.

Trace amounts of sphalerite, galena and chalcopyrite (sulphide minerals of zinc, lead and copper, respectively) have been logged in SU14-07 over a large interval, and occur in greater amounts than observed in all previous drill holes at Sully. These are typically scattered, and accompanied by pyrrhotite and pyrite. The project team does not expect massive sulphides above a depth of 800-m based on gravity data interpretation and the occurrence of trace sulphides at these depths in the current hole is very encouraging.

The drill hole also has four types of alteration not seen in previous drilling that might indicate the potential for mineralization at depth or in the vicinity of SU14-07, including; wavy seams of biotite (up to 4-mm); dolomite-quartz veins (up to 300-mm); intense bleaching (up to 5-m); and, siliceous pods and lenses (10 to 30mm) are possible exhalite beds.

The alteration most commonly associated with the large interval of trace sulphides is dolomite-quartz veinlets and pods. This new observation is intriguing as it is a feature similarly associated with large stratabound copper- lead- zinc deposits.

The Sully Project

Sully is located near Fort Steele, 30-kilometres east of the world-famous Sullivan mine at Kimberley, B.C. The East target is one of two gravity mass anomalies estimated to come within 800 metres of surface, and extending to depth. Coincident magnetic anomalies reinforce the positioning of the large-scale gravity masses also estimated to be approximately 800m apart. Management believes the best explanation for the twin gravity anomalies is the presence of two very large vertically oriented SEDEX massive sulphide bodies.

The Sullivan Mine

Sullivan was discovered in 1892 and is one of the largest SEDEX deposits in the world. Over its roughly 100-year lifetime, Sullivan produced almost 300 million ounces of silver, 36 billion pounds of lead and zinc plus smaller amounts of other metals, collectively worth over $40-billion at current metal prices. The company cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Sully property.

Technical contents of the Sully project disclosure in this news release have been reviewed and approved by Paul Ransom, P.Geo., a qualified person as defined by National Instrument 43-101.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Santa Fe Metals Corp.
Scott E. Broughton, P.Eng.
President and CEO
604.684.2900
www.santafemetals.com

 

Apr
17

Arianne Phosphate completes sale of non-core assets

arianneSAGUENAY, QC, April 17, 2014  - Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN) (FRANKFURT: JE9N) (OTCBB: DRRSF), a development-stage phosphate company advancing the Lac à Paul Project in Quebec’s Saguenay region, announced today that it has completed the sale of its Opinaca and Black Dog properties, two non-core assets located in James Bay, Québec, to Virginia Mines Inc. (TSX: VGQ). Under the terms of the agreement, Virginia Mines has acquired 100% interest in both properties in exchange for 15,000 of its common shares issued to Arianne.  The transaction is valued at CAD$180,000, and includes no hold period or sales restriction on the common shares.

“Our sale of the Opinaca and Black Dog properties is consistent with our strategy of focusing all of our efforts on accelerating the development of Lac à Paul,” said Brian Kenny, CEO of Arianne Phosphate. “Our primary focus through 2014 is to secure permitting, arrange financing for the project and sign agreements with First Nations communities.”

Lac à Paul is one of the world’s largest greenfield phosphate projects with a 472Mt reserve, a 590Mt resource and a 26 year mine life. Lac à Paul’s robust economics, including a $1.9B NPV, 20.7% IRR, and 4.4 year capital payback period, are driven by the project’s high-purity and high-grade phosphate product.

About Arianne Phosphate

Arianne (www.arianne-inc.com) is developing the Lac à Paul Phosphate Rock Project located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. This mine will produce a high quality igneous apatite concentrate grading 38.6% P2O5 with little or no contaminants. The Company has 84.2 million shares outstanding.

Neither 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.

Follow Arianne on:

Facebookhttp://www.facebook.com/pages/Arianne-Resources-Inc/113071105425184
Twitter: http://twitter.com/arianne_dan
YouTube: http://www.youtube.com/user/ArianneResources
Flickr: http://www.flickr.com/photos/arianneresources

Resource Investing News: http://resourceinvestingnews.com/?s=Arianne

Forward Looking Statements and Information

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities regulations in Canada and the United States (collectively, “forward-looking information”). The forward-looking information contained in this news release is made as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information. Forward-looking information includes, but is not limited to, statements with respect to estimated mineral resources, anticipated effect of the completed drill results on the Project, and timing and expectations of future work programs. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects, “is expected”, “budget”, “scheduled”, “estimates”, forecasts”, “intends”, “anticipates”, or “believes”, or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, or “will” be taken, occur or be achieved. Any forward-looking statement speaks only as of the date on which it is made and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.

SOURCE Arianne Phosphate Inc.

Apr
17

Alexandria Plans Drill Holes to Test Geophysical Anomalies on its Akasaba Project, Quebec

AZXTORONTO, ONTARIO–(April 17, 2014) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D)(PINKSHEETS:ALXDF) is pleased to provide an update on drill target planning related to its recently completed geophysical survey on its 100%-owned Akasaba project in Val d’Or Québec, which includes a very strong untested 700m long geophysical anomaly east of the Akasaba Mine.

Over the winter, the Company completed a surface Ipower3D Induced Polarization (“IP”) survey over its Akasaba and Valdora projects, previously reported on March 12, 2014. Results from this survey show that the main Mine Horizon at Akasaba yields a very strong chargeability anomaly, which is consistent with the Akasaba main ore zones below the past-producing Akasaba Mine.

Of particular note is a very strong 700m long anomaly, similar to the Akasaba Mine Horizon,which occurs 1200 m along strike to the east of the Akasaba historical Mine, and will be a high priority target (See Figure 1 below). This target is as yet untested and, like the main Mine Horizon, this anomaly has a vertical extent of more than 650 m, appearing to plunge to the east.

To view Figure 1. High Chargeability Anomalies (in Red and Yellow colors) on IPower3D map of the Akasaba Mine Horizon and showing the strong IP anomaly to the east (taken from 150m below surface), please visit the following link: http://www.marketwire.com/library/20140417-NewDrillTarget.jpg.

The IPower 3D was selected to better aid Company geologists in selecting both shallow and deep-level targets as well as to define new along strike targets. These anomalies are vertically extensive, expressing themselves from surface to the maximum survey depth of 650m.

Alexandria geologists are in the process of reviewing the most recent geophysical results and planning additional drilling exploration work on the Akasaba and Valdora projects.

The Mine Horizon at Akasaba hosts the following Current Resources from the surface down to 650 m vertical depth:

 

Tonnes Grade (g/t Au) Ounces Gold
Underground Indicated 609,300 5.93 116,240
Underground Inferred 1,475,600 5.58 264,960
Main Pit Indicated 3,009,200 1.37 132,550
Satellite Pit Indicated 219,900 1.93 13,640

 

Note: Resources are stated as released in press release from February 20th, 2014 http://azx.ca/news/2014/news20140220.html

From 2011 to 2013, Alexandria discovered and built a significant gold-copper resource in the southwestern part of its Akasaba property, the West Zone, hosting a National Instrument 43-101 compliant Inferred Resource of 14 million tonnes with an average grade of 0. 7 g/t gold and 0.4% Cu (see Press Release February 7, 2013).

Alexandria recently sold the West Zone to Agnico Eagle Mines (“AEM”) for $5 million plus 2% NSR (Press Release January 14, 2014). AEM reports that it has since completed its infill drilling program on the West Zone, and is currently working on community outreach, environmental permitting and geotechnical studies as it moves down the path toward production.

Drill testing of the geophysical targets will commence in June, after spring thaw runs its course. The Company is currently wrapping up a 4,000 m drill program on its Sleepy project, located 15 km east of Akasaba.

Program design, management, and Quality Control/Quality Assurance are governed by Alexandria’s exploration group of which Phillippe 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 Mr. Berthelot and Emilie Batailler P.Geo. 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/AlexandriaMinerals
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.

Contact Information:

Alexandria Minerals Corporation
Mary Vorvis
Vice President, Corporate Development
416-305-4999

Alexandria Minerals Corporation
Eric Owens
PGeo, President/CEO
416-363-9372
info@azx.ca
www.azx.ca

 

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