Alexandria Minerals Corp. (
TSX: V.AZX,
Stock Forum) fell 12% to 7.5 cents Thursday in active trading after the junior released an update on drill target planning related to a recent geophysical survey at its wholly-owned Akasaba project near Val d’Or, Quebec.
Alexandria geologists are in the process of reviewing the most recent geophysical results and planning additional exploration work on the Akasaba and adjacent Valdora projects,
the company said in a press release. Alexandria is owned 10% by
Agnico-Eagle Mines Ltd. (
TSX: T.AEM,
Stock Forum).
Since 2009, Alexandria has discovered 850,000 ounces of gold and 61 million kilograms of copper on the Akasaba project, which lies at the centre of the company’s Cadillac Break group of properties.
As of early 2014, the company has completed 73,654 metres of drilling on this project.
The property hosts the historic Akasaba Gold mine that produced 262,568 tonnes, grading 5.14 grams gold per tonne and 1.97 grams silver.
At the Thursday close, Alexandria is left with a market cap of $13.4 million, based on 178.1 million shares outstanding. The 52-week range is 12 cents and 2.5 cents.