News - Good Enough?Second Drill Hole at Alexis Returns 41 Feet of 0.37 Ounces Gold Per Ton in New Discovery South of Lac Herbin Mine
TORONTO, ONTARIO--(CCNMatthews - Feb. 14, 2007) - Alexis Minerals Corporation (TSX VENTURE:AMC) is pleased to announce that assay results from the second drill hole (LH02-123) into a new discovery area south of, and at depth beneath the Lac Herbin Mine returned 12.8 (12.27(i) cut) grams gold per tonne (g Au/t) over 12.5 metres, including 15.36 (14.68 cut(i)) g Au/t over 9.8 m. This compares very favourably with the discovery hole (LH02-122) 60 metres to the west which returned 35.42 (9.76(i) cut) g Au/t over 9.2 m, including 41.93 (11.28(i) cut) g Au/t over 7.7 m (see Press Release: January 24, 2007). Underground drilling continues to explore this new discovery area and will be reported as additional results become available.
"The results of the second hole are very encouraging and demonstrate a higher cut grade and greater true width than the discovery drill hole", stated David Rigg, President and CEO of Alexis Minerals." The drilling results are higher grade, more consistent across the complete vein widths and are thicker than any previously encountered by exploration on the Lac Herbin mine area," "We remain very optimistic about the economic impact of this discovery to the project and remain focused on expanding the Resources in this area."
Drilling results from step-out drilling (LH02-123) in the discovery area includes:
- 12.80 (12.27 cut(i)) g Au/t over 12.5 m from 126.0 - 138.5 m along
the core. True width is estimated to be 6.0 m. The intersection
includes:
-- 15.36 (14.68 cut(i)) g Au/t over 9.8 m from 126.4 - 136.2 m, and
-- 16.21 (15.45 cut(i)) g Au/t over 8.7 m from 127.5 - 136.2 m.
Assay results show consistent grades throughout the width of the veins in the two holes, with visible gold in Hole LH02-122 further contributing significantly to mineralization.
"Conclusions from underground exploration at Lac Herbin confirm that the most reliable grades from diamond drilling are those using cut grades. The program also concludes that these cut grades under-estimate the actual gold grades encountered during development, by as much as 51% to 244%," said Richard Roy, Chief Geologist and Qualified Person on the project. "It is exciting to see that the potential to the south, and to depth, remain open and unexplored."
The Lac Herbin project is located 10 km northeast of Val-d'Or, 1.8 kilometres from the fully permitted, Alexis-owned Aurbel Gold Mill, and, adjacent to the past-producing Ferderber and Dumont Mines. The Mill has a treatment capacity of 1400 tons per day.
(i) Cut Grades - all assays in excess of 34.28 g Au/t are cut conservatively to 34.28 g Au/t (or 1.0 troy ounce/tonne), a common industry practice. Cutting factors at Lac Herbin are based on the results of bulk sampling and a test milling program completed in November 2006 (see Press Release: January 16, 2007).
Quality Control
The Lac Herbin underground diamond drilling program is supervised by Mr. Richard Roy, P.Geo., of NordQuest Inc., Qualified Person (QP) as defined under NI 43-101 guidelines. Assay samples are taken from underground drill core 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. Analyses were performed by ALS Chemex - Chimitec of Val-d'Or (Quebec).
About Alexis Minerals
Alexis Minerals Corporation is a Canadian exploration and development company listed on the TSX Venture Exchange. Alexis holds an outstanding portfolio of properties covering the Val-d'Or and Rouyn-Noranda Mining Camps in Quebec. Alexis is following strategic exploration approaches across these properties for both gold and base metals, with a focus on the potential for gold production from the Lac Herbin and Lac Pelletier deposits during 2007 - 2008. Alexis has a clear route to 100% ownership of all interests of Aur Resources on approximately 212 square kilometres of the Val-d'Or Mining Camp and has recently purchased the 1400 tonne per day Aurbel gold mill. The Company is also currently advancing towards a 50% interest in 825 square kilometres of the Rouyn-Noranda Mining Camp, all of the property holdings of Falconbridge Limited (formerly Noranda Inc.). Alexis has the right to earn-in into a 100% interest in the Lac Pelletier property.
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".
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.