TORONTO, ONTARIO–(Nov. 29, 2012) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D)(PINKSHEETS:ALXDF) reported today on follow-up drill results from the West Zone area on the Company’s Akasaba Gold-Copper project in Val d’Or, Quebec, intersecting 116.50 m grading 0.43 g/t Au and 0.24% Cu, including 23.10 m grading 1.15 g/t Au and 0.46% Cu in diamond drill hole IAX-12-215.
A second hole, DDH IAX-12-214, located 100 m west of hole 215, intersected 94.00 m grading 0.48 g/t Au and 0.36% Cu, including 61.50 m grading 0.56 g/t Au and 0.50% Cu (see Table 1 below). The intersections in both holes 214 and 215 are 100 m below those in holes IAX-12-200 and 201, which intersected, respectively, 118.80 m grading 1.18 g/t Au and 0.70% Cu and 144.90 m grading 0.70 g/t Au and 0.38% Cu (Press Release, July 11, 2012).
Eric Owens, President and CEO, said, “The importance of these holes is that they confirm broad mineralization and continuity in the West Zone and extend the mineralization deep below our last holes. We are also pleased by the strong copper values received. These results show that we have not yet reached the limits of the deposit and that more potential to enlarge it remains. Accordingly, we will continue to conduct step-out drilling to determine the size potential of the project, and are confident that we will continue to show positive results.”
|TABLE 1. Drill Hole Assays from Akasaba West Zone and Adjacent Zones.|
|Hole #||From (m)||To (m)||Core Length (m)||True Width (m)||Au g/t||Ag g/t||Cu%|
The target horizon was intersected at about 280 m vertical depth, and showed geological characteristics consistent with the shallower holes, namely, sheared and deformed metavolcaniclastic rocks, with quartz-carbonate veinlets, and pyrite, chalcopyrite and bornite as disseminations and stringers. The West Zone is located about 1,200 m west of the historic Akasaba Mine, around which the Company has previously focused its drilling; the gold-bearing zone has now been identified over a 2,000 m strike length.
The Company is continuing its step out drill program on the project, with current focus on targets west of the mine area.
Program design, management, and Quality Control/Quality Assurance is 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 been 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 onwww.sedar.com.
Further information about the Company is available on the Company’s website, www.azx.ca, or our social media sites listed below:
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 Corporation