A few observations1) Airport (Triangle Too) appears to be Alexandria`s top priority
2) Drill priority:
Airport - being drilled now (summertime)
Orenada and Extensions - to be drilled late summer
Porphyry (and 2 early stage areas) - to be drilled after Airport and Orenada
Kettle (VMS target) - to be drilled within the next 12 months (geo work will be done first)
Montagne (new target) - to be drilled within the next 12 months (summer field work, geophysics, geochemistry, follow up drilling in winter - perhaps 2 holes)
3) Airport - 8 Triangle style plugs/targets to drill test
4) Alexandria discovered of a new Cadillac Break - see pg 19. It opens up new exploration possibilities.
5) Orenada - re-interpretation, growth and grade improvement program continues for the original Orenada resource area. However, large target expansion areas have been identified on both the left side and the right side. - see pg 13.
6) Porphyry Area - it`s not clear what the deal is with recent drill results at Zone 5 and Hogge. Pg 17 doesn`t provide any clarity on status - decent, good, bad or pending. However, the presentation seems to give the impression that Alexandria is still big on the overall Porphyry area. They seem to think that there is a good size porphyry deposit sitting there, somewhere. In addition to testing the regular porphyry targets, they identified 2 more early stage porphyry areas to drill (see Pg 17 also, black outline).
7) Recent activities (samples) - Pg 18
Drill hole DAX-16-059 - looks like this is a porphyry (maybe breccia) hole from the 2016 drill program. It is from a magnetite breccia. Both Zone 5 and Hogge are breccias. This hole could be from either Zone 5 or Hogge. The core looks exactly like the core from the past producing Mid-Canada Mine (on Alexandria`s property). ``Cpy`` I think is chalcopyrite. I believe chalcopyrite is often associated with copper (pyrite is the one that is most associated with gold). The Mid-Canada core is labelled ``cpy``. The DAX-16-059 drill hole core image looks to have similar contents to the past Mid-Canada core (Mid-Canada deposit had averge of 7.4 g/t gold and .21% copper).
The image to the right looks like a recent monzonite porphyry core. I don`t think the monzonite porphyry core is from Zone 5 or Hogge breccias. I think it`s from the porphyrys to the north (with the wide low-grade bulk tonnage type zones). See the porphyry intrusives on Pg 17 for location of the monzonite holes. It looks like the Pg 18 monzonite porphyry core images are showing some copper, moly and chalcopyrite.
We`ll have to wait and see what level of content we have here, and width, to determine if there is sufficient economical value.
8) Montagne - untested magnetic anomaly
Found between the Old Cadillac Break and the New Cadillac Break.
9) Kettle - 5km VMS target
Kettle was drilled in 2014 over 1,000m length. ``The geology encountered in the drill holes is consistent with a Volcanogenic Massive Sulfide (“VMS”) environment``.
The Kettle area seems to have the geology for a VMS deposit. Kettle is located 3km away from the past producing Louvicourt VMS Mine (produced 15.9 million tonnes of sulfide ore, grading 3.36% Cu, 1.66% Zn, 0.9 g/t Au and 26.75 g/t Ag).
The VMS geology found at Kettle and the location of the Louvicourt VMS deposit are important factors, especially since VMS deposits are often found in clusters. If you find one VMS deposit then the likelihood of finding another one nearby is extremely high.
It looks like the Kettle VMS target has grown to 5km in length - see Pg 9 - and extending down to the New Cadillac Break - see Pg 19.
10) Akasaba (Pg 14) - nothing is planned for Akasaba, but it looks like they would eventually like to do something to enlarge the resource. Akasaba has about 525K ounces in resource, with most of it being underground at 5.5 - 6.0 g/t grade. Akasaba is open at depth and to the east.
11) Sleepy - no mention of Sleepy in the presentation, but they have been performing test work and analysis in order to determine next steps. I believe they want to get it to a stage where a mill owner in the area can come in as a JV partner and move it forward (with more exploration work at first). To be honest, I would prefer they just sit on it until later rather than give the vast majority of it away - like they did with the Matachewan properties.
12) Manitoba Deposits - no mention in the presentation. Again, I would prefer that they just sit on these deposits rather than strike another Matachewan giveaway deal.
13) Red Lake Property - no mention in presentation. My guess is they will try to find a JV partner.