Lake Pellieter Profitable for AMCAlexis Feasibility Study Confirms Profitability at Lac Pelletier With IRR of 61%: Offers Strong Long Term Exploration and Mine Potential
6/28/2010 8:32 AM - Market Wire
TORONTO, ONTARIO, Jun 28, 2010 (MARKETWIRE via COMTEX News Network) --
ALEXIS MINERALS CORPORATION (TSX: AMC)(OTCQX: AXSMF)(PINK SHEETS: AXSMF) announces the completion of its feasibility study on its Lac Pelletier property, Rouyn-Noranda, Quebec. The results confirm that the Lac Pelletier gold project is profitable and offers longer term potential through exploration. The Company believes the bulk sampling program has confirmed the deposit grade, while mine development and diamond drilling has proven ore continuity.
A new geological model has been developed for zone 4 which identifies untested potential for resource/reserve expansion in many areas of the deposit. Additional surface and underground drilling into the deposit below the 150-m level is expected to transfer Inferred Resources back to Indicated Resources, increasing these back to pre-feasibility levels of at least 135,000 ounces gold. Lac Pelletier offers:
-- Potential to upgrade to Measured and Indicated Resources from Inferred
Resources between the 150- and 300-m elevations with further delineation
drilling. The projected effect of such an increase has been evaluated in
a 4-Year Model for the deposit;
-- Significant potential for additional discovery; particularly, to the
south (Zones 4.3 (South) and 4.4) and north-east (Zone 4.1) of the
current mine area; and,
-- Potential to extend mineralization at depth with all zones remaining
open to depth.