News!Alexandria Expands Akasaba with 11.65 g/t Au and 60.11 g/t Au Drill Intersections
TORONTO, Nov. 10, 2010 (Canada NewsWire via COMTEX) --
Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) reports today on assay results from six holes on its Akasaba Au-Ag project in Val d"Or, Quebec, including a high grade intersection, in hole IAX-10-88, of 11.65 g/t Au over 0.75 m, as part of a wider intersection grading 2.14 g/t Au over 9.0 m at a shallow 175 m depth (all intersections are true widths). In addition, the Company intersected 60.11 g/t Au over 0.38 m in a separate zone to the north of the main mine horizon.
Three of the holes, DDH IAX-10-88, 89, and 93, were completed below the historic mine area at Akasaba, where roughly 40,000 ounces of gold, at an average grade of 5.12 g/t Au, and 12,000 ounces of silver, were produced down to 90 m depth in 1961-1963. To date, the company has enlarged, by drilling, known gold mineralization in the mine horizon from 200 m long by 150 m deep in the mine area, to 900 m long, with depths up to 325 m. The target remains open at depth and along strike.
Hole 88 intersected the main mine horizon 50 m below the historically defined gold zones, and also intersected several intervals which assayed between 0.5 g/t to 1 g/t Au below the high grade intersection. At 300 m depth, the hole intersected 58.40 g/t Ag over 1.13 m (see Table 1 below).
Holes 89 and 93, crossed the target mine horizon at 130 m and 150 m depths, respectively. Hole 89 assayed 0.74 g/t Au and 7.05 g/t Ag over 2.25 m and hole 93 assayed 3.11 g/t Au over 2.25 m. The high grade gold assay of 60.11 g/t Au over 0.38 g/t in hole 89 occurred at 16.75 m to 17.75 m downhole, and points to a separate zone north of the main mine horizon. Assays are pending for 8 holes below the mine area.
Eric Owens, Alexandria President & CEO, said, "These are very positive results that continue to refine the known mineralization at Akasaba. They are invaluable in helping us to plan our next drill program. We have enough capital to complete the largest drill program in the Company"s history at our flagship Akasaba Project."
Three shallow holes were completed more than 400 m east of the mine area, and east of the recently discovered shallow high grade gold zone. DDH IAX-10-80, 81, and 82 intersected the mine horizon at less than 50 m deep, and assayed wide, anomalous silver, up to 1.89 g/t over 23.5 m and 1.20 g/t Ag over 31.50 m, within which were narrow higher grade intervals, including 9.00 g/t Ag over 0.75 m.
Drilling has begun again at Akasaba, with one drill rig currently on site testing targets and extensions of mineralization at depth and along strike. Assays are pending for a total of 15 holes from a variety of targets along the mine horizon as well as targets north and west of the mine horizon.
An updated longitudinal section can be viewed at
www.azx.ca.
The results presented in this press release are exploratory in nature and have been reviewed by the company"s Qualified Persons, Jared Beebe, PGeo, and Dr. Eric Owens, PGeo. These results have not been verified by an Independent Qualified Person ("QP") and therefore should not be relied upon except for their exploratory value. There is no Current Resource underlying the Akasaba property as defined by National Instrument 43-101, and no guarantee that an economic gold deposit is present. Further work by Alexandria and an Independent QP will be required to bring the data into compliance with NI 43-101.
The Company"s sampling protocol has been outlined in previous press releases, and additional information is available by request. Currently, the Company is using AGAT Labs, an ISO 17205 certified company, with preparation facilities in Sudbury for its analysis. Because of the concern of a "nugget effect", the company routinely re-checks its assay results, and where re-checked assays vary by greater than 10%, the samples are subjected to a metallic screen assay technique whereby a 1 kg separate of the original sample is screened to a 30 g aliquot prior to a FA gravimetric finish.
About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with one of the largest property packages along the prolific, gold-producing Cadillac Break in Val d"Or, Quebec. The Company has two NI 43-101 compliant gold resources, at Orenada and Sleepy, and is currently focused on advancing its Akasaba and Orenada gold projects. The Company recently completed a $5,000,000 private placement, led by Pollitt & Co. of Toronto, in which Agnico-Eagle Mines Ltd. maintained its 10% interest in the Company.
TABLE 1. Drill Hole Assay Results, Akasaba Project
____________________________________________________________________
| Hole |From (m)|To (m)|Length |Est. True|Au (g/t)|Ag (g/t)|Cu (%)|
| | | | (m)|Width (m)| | | |
|_________|________|______|_______|_________|________|________|______|
|IAX-10-80| 34.35| 65.25| 30.9| 21.50| 0.03| 1.83| 0.06|
|_________|________|______|_______|_________|________|________|______|
| incl.| 34.35| 35.35| 1.0| 0.75| 0.12| 9.00| 0.29|
|_________|________|______|_______|_________|________|________|______|
| and| 55.75| 57.25| 1.5| 1.20| 0.07| 6.60| 0.17|
|_________|________|______|_______|_________|________|________|______|
|IAX-10-81| 6.20| 48.20| 42.0| 29.00| 0.01| 1.22| 0.01|
|_________|________|______|_______|_________|________|________|______|
| | 55.70| 56.70| 1.0| 0.75| 1.13| 0.70| 0.03|
|_________|________|______|_______|_________|________|________|______|
|IAX-10-82| 1.40| 23.40| 22.0| 16.00| 0.01| 1.05| 0.01|
|_________|________|______|_______|_________|________|________|______|
|IAX-10-88| 53.30| 54.30| 1.0| 0.75| 0.79| -| 0.07|
|_________|________|______|_______|_________|________|________|______|
| | 109.30|110.80| 1.5| 1.13| 1.23| -| -|
|_________|________|______|_______|_________|________|________|______|
| | 118.80|119.80| 1.0| 0.75| 0.98| -| 0.09|
|_________|________|______|_______|_________|________|________|______|
| | 195.80|196.80| 1.0| 0.75| 1.29| -| 0.03|
|_________|________|______|_______|_________|________|________|______|
| | 233.30|245.30| 12.0| 9.00| 2.14| -| -|
|_________|________|______|_______|_________|________|________|______|
| incl.| 240.30|245.30| 5.0| 3.75| 3.65| -| -|
|_________|________|______|_______|_________|________|________|______|
| incl.| 240.30|241.30| 1.0| 0.75| 11.65| -| -|
|_________|________|______|_______|_________|________|________|______|
| | 255.30|256.30| 1.0| 0.75| 0.63| -| -|
|_________|________|______|_______|_________|________|________|______|
| | 269.30|270.30| 1.0| 0.75| 0.75| -| -|
|_________|________|______|_______|_________|________|________|______|
| | 298.30|299.30| 1.0| 0.75| 0.54| -| -|
|_________|________|______|_______|_________|________|________|______|
| | 305.30|306.30| 1.0| 0.75| 0.57| -| -|
|_________|________|______|_______|_________|________|________|______|
| | 333.30|334.30| 1.0| 0.75| 0.84| -| -|
|_________|________|______|_______|_________|________|________|______|
| | 336.30|337.30| 1.0| 0.75| 0.91| 4.30| 0.53|
|_________|________|______|_______|_________|________|________|______|
| | 375.30|378.30| 3.0| 2.25| 1.13| 0.57| 0.11|
|_________|________|______|_______|_________|________|________|______|
| | 409.80|411.30| 1.5| 1.13| 0.25| 58.40| -|
|_________|________|______|_______|_________|________|________|______|
|IAX-10-89| 9.75| 10.75| 1.0| 0.75| 0.90| 1.50| 0.09|
|_________|________|______|_______|_________|________|________|______|
| | 16.75| 17.25| 0.5| 0.38| 60.11| 1.10| 0.03|
|_________|________|______|_______|_________|________|________|______|
| | 109.25|115.75| 6.5| 5.05| 1.02| -| -|
|_________|________|______|_______|_________|________|________|______|
| | 145.75|148.75| 3.0| 2.50| 0.74| 7.05| 0.40|
|_________|________|______|_______|_________|________|________|______|
|IAX-10-93| 168.40|171.40| 3.0| 2.10| 3.11| -| -|
|_________|________|______|_______|_________|________|________|______|
| | 190.40|192.40| 2.0| 1.53| 1.53| 11.95| 0.97|
|_________|________|______|_______|_________|________|________|______|
WARNING: This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Alexandria Minerals Corporation relies upon litigation protection for forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Alexandria Minerals Corp