news
SEPTEMBER 6, 2005 - 08:00 ET
Alexis Minerals Corporation: 14.34 % Copper Over 6.3 Metres-Significant Mineralization at Depth at West Ansil
TORONTO, ONTARIO--(CCNMatthews - Sept. 6, 2005) - Alexis Minerals Corporation (TSX VENTURE:AMC) in joint venture with Falconbridge Limited (TSX:FAL.LV)(NYSE:FAL) is pleased to announce significant results from continued exploration on the West Ansil property. The deposit is located 1.8 km to the southwest of the historic Ansil Mine and 10 km from the Horne Smelter, in the heart of the Central Rouyn-Noranda Mining Camp, Quebec.
Highlights from the most recent drilling (Table 1) include massive sulphide and copper-rich stringer mineralization:
- 14.34% Cu, 0.16% Zn over 6.30 metres in hole WAN-05-10 - including 18.55% Cu, 0.17% Zn over 4.40 metres
- 18.05% Cu, 0.26% Zn over 0.65 metres in hole WAN-05-11
- 21.10% Cu, 0.02% Zn over 1.15 metres in hole WAN-05-12
- 3.76% Cu, 0.18% Zn over 7.65 metres in hole WAN-05-15 - Including 5.08% Cu, 0.14% Zn over 2.8 metres, and - Including 7.11% Cu, 0.45% Zn over 2.05 metres
- 2.74% Cu, 0.05% Zn over 7.55 metres in hole WAN-05-09
- 3.92% Cu, 1.48% Zn and 3.26 g/t Au over 0.60 metres in hole WAN-05-08
The zone of massive sulphides is located at a basalt/andesite contact within the Rusty Ridge Formation and lies in a discordant trend between the Lewis Exhalite and the Beecham Breccia horizons. Increasing copper grades at depth and down-plunge of the West Ansil Deposit mineralized envelope provide an excellent vector for additional massive sulphide mineralization at the Lewis Exhalite.
The Falconbridge and Alexis team is currently evaluating the economic parameters of the West Ansil deposit in order to design the next exploration phase. One machine continues to delineate the geometry and extent of mineralization in and around West Ansil. Drilling aims at testing the extensions of the zone and for the continuation of the down-plunge extension of the zone at the Lewis Exhalite.
Additional drilling will explore target areas which lie in close proximity to structures and stratigraphy related to West Ansil and where new discoveries may be expected.
Please note: A link to Table 1 - Recent West Ansil Deposit Drilling Results is available on CCNMatthews' website at the following link: https://www2.ccnmatthews.com/database/fax/2000/amc09.pdf
Quality Control
Drilling on the West Ansil property is supervised by Senior Geologist Mario Masson, P.Geo. and Qualified Person under National Instrument 43-101 guidelines. Assay samples are taken from drill core (NQ/BQ size) sawed in half with one half sent to a commercial laboratory and other half retained for future reference. A strict QA/QC program is followed which includes mineralized standards, blank and field duplicate for each batch of samples. Significant assay results are duplicated at the original laboratory and a second independent laboratory. Assays were performed by ALS Chemex - Chimitec of Val-d'Or (Quebec).
Alexis Minerals Corporation is a Canadian exploration and development company listed on the TSX Venture Exchange. Alexis holds a portfolio of properties covering approximately 212 square kilometres in the Val d'Or area and considered highly prospective for both gold and base metals. Alexis has a clear route to 100% ownership in the properties and maintains an option to purchase the 1400 tonne per day Aurbel gold mill. The Company has also entered into option agreement with Falconbridge Limited (formerly Noranda Inc.) wherein Alexis will earn a 50% interest in all of Falconbridge's properties in the prospective Rouyn-Noranda base metal and gold camp, Quebec. The Falconbridge properties cover approximately 825 square kilometres in the Rouyn-Noranda area. In April 2005, Alexis successfully closed a financing of $15.0M through CIBC World Markets to fund aggressive exploration on these two substantial and prospective areas. Two diamond drills are currently active in the Val d'Or area and six drills are active in the Rouyn-Noranda area.
Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward looking statements".
Please note: A map of the West Ansil Zone is available on CCNMatthews' website at the following link: https://www2.ccnmatthews.com/database/fax/2000/amcmap.pdf
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.