Alexandria Minerals Corp ALXDF

Lot`s of low cost activity on many fronts (for Alexandria)

[production05]

1)  Sleepy

Alexandria is still studying economic aspects for milling J/V (production).  They could try to identify additional drill targets, if deposit is not sufficient to attract JV production partner at this time.

I still think Integra Gold needs to sell the Sigma 2 property to Alexandria.  Sigma 2 is in the same Vicour Sill as Sleepy.  Integra owns the west side of the sill and Alexandria owns the right side.  The sill needs to be consolidated.  Placer Dome produced about 175K ounces @ around 2.4 g/t gold from the open pit in the late 90`s from Sigma 2.  It is still open at depth, but it is not clear if the grades increase at depth to make the underground economical.  Someone needs to test this.  Additionally, other places along the west side of the sill needs to be tested for further deposits.  Integra needs to give control of this over to Alexandria so the entire 10 km Vicour Sill can be tested and brought into production.

Here is an image of the sill:



Link, if the image doesn`t work:

https://www.azx.ca/wp-content/uploads/2014/10/Sleepy.png


2)  Orenada Enhancements

Good developments in 2015, with the 2 excellent drill holes.  It identified solid high grade areas within the bulk tonnage deposit.  Good combination to have.  Most of the 750K (+) deposit is housed within near-surface bulk tonnage open-pit potential areas.  This high grade development opens the door widely to economic underground potential.  It`s a big development that the market hasn`t recognized or embraced as yet.

2016:  ``We are in the process of reinterpreting the geology by incorporating the high grade veins into a new 3D geologic model. This will aid in a more detailed assessment of the impact of the high grade veins on future resource estimates, and will provide for new drill targets on the project.``


3) Zone 5 - 700m (of a 1.5 km Breccia)

This is getting interesting.  One successful drill hole last year.  Several successful historical drill holes.

 But, the are new findings that could take Zone 5 to another level.

They recently recognized that the mineralization within the breccia (and maybe the entiry breccia itself) actually dips northerly.  As such, the historical drill holes were not penetrating the entire breccia and mineralization.  The company can now make adjustments with the drill program to compensate.  Zone 5 is looking very promising for a new deposit for us.

``However, none of the past holes traversed completely across the breccia zone; most skirted the edges or only partially penetrated the breccia. Relatively recent recognition of the character and mineralogy of the breccia, and of the northerly dip, has given Alexandria geologists a better understanding of the geology and the ability to complete holes which cross the breccia in its entirety.``

 

4.  Hogg Zone
   
   Only one test hole planned, but that hole should reveal plenty.  If successful, we are looking at strong potential for a new deposit (maybe substantial deposit), given solid historical shallow drill holes (at the top layer) and new (positive) geophysical results at depth (no past drilling) that we are now test drilling.  We`ll have to wait and see what`s going on here.
   
   
   5)  West Porphyry
   
   Mineralization can be found both within the intrusive or outside the intrusive, along the contact zone.  Historical drilling shows wide low grade (bulk tonnage) copper (with some gold) within the granite intrusive around the contact zone -  but within the intrusive.  
   
   We are drilling 2 holes within the porphyry.  These holes will be drilled further within the intrusive this time, in areas never drilled before.  If they are successful, it could tell us that the deposit is housed deeper within the intrusive (rather than closer to the contact zone).

 

6. Red Lake (Gullrock)
   
   IP work being done on the far left side (work already done on the other parts by Mulgor). Alexandria`s Gullrock property is the southeast extension of Goldcorp`s ``Mine Trend``. This is the trend that hosts Goldcorp`s core mines. Gullrock has all of the structural characteristics as Goldcorp`s mine area, and other major mines in the area.
   
   That doesn`t guarantee anything, but Mulgor`s work identified positive geophysical targets to explore, as well as positive soil and rock samples for gold at the surface.
   
   In addition to the Goldcorp`s ``Mine Trend``, there is also another structural feature that criss crosses (with the ``Mine Trend``) on Alexandria`s property.  This is the same type of structural trend crossing pattern that occurred on Goldcorp`s property, that contributed to formation of the deposits at Goldcorp`s 2 giant mines. See map on pg 15 of Alexandria`s Corp Presentation.
   
   Red Lake`s deposits are very complex and can be very deep. I think there is a good change that Alexandria will be able to attract a large J/V partner to do the heavy lifting once the gold bull market has resumed in earnest again - probably not too much further down the road.
   
   An important note:  Gullrock`s ``Mine Trend`` extension has never been drilled before.  A small area (outside of the trend) was drilled in the 60`s for Ag-Pb.  Also, a late fault area at the bottom (away from the trend) was drilled with 4 or 5 holes. Goldcorp`s ``Mine Trend`` extension unto Alexandria`s property has never been touched.  The reason for this is that people didn`t recognize that the trend continued eastward.
   
   Of note, this map is a bit old. The left side is missing a piece of property that Mulgor purchased just before the Alexandria acquisition.
   
   Gullrock image:
   
   
   
   Link, if the image doesn`t work:
   https://www.azx.ca/wp-content/uploads/2015/06/gullrock2.jpg
   
   
   7)  Famcamp
   
   IP work planned for the south part (where little IP work was done in the past)
   
   This is an interest property.  Work was done from time to time in the past.  Last drillig was done by Mulgor in mid 80`s.  Results were positive, but they focused on other projects afterwards and no further drilling was done at Fancamp.  They then conducted a trending program about 10 years ago (I think) and that was very successful also, but no further drilling was done, as they focused on drilling the Manitoba properties instead.
   
   Zones A, B, C, D and E identified already, with other potential existing.  Zones A and B are especially interesting:
   
   A:  Drilled 6.1m of 8.2 g/t Au
   
   A:  Trenched 12.2m of 10.6 g/t Au
   6.1m of  45.3 g/t Au
   11.6m of 6.5 g/t Au
    
   B:  Drilled 3.4m of 5.1 g/t Au
   
   B:  8.2m of 9.3 g/t Au
   1.5m of 15.3 g/t Au 
   
   The trenching results mean mineralization is sitting at the surface, likely sitting in veins that run to the surface.
   
   The drilled results mean that they connected with the veins at depth.
   
   Very promising.  
   
   Also, Iamgold`s  success at drilling the high grade Monster Lake structures at depth (the next corrider over) is encouraging for the general area.
   
   Again, Alexandria could attract a J/V partner (be it Iamgold or someone else) to help with the heavy lifting once the gold market picks up again.
   
   
   8) Wydee (Matechewan)
   
   IP work planned.  Wydee is very promising also.  It has all the right features.  
   
   Alamos Gold wants Matechewant to be their flagship property for the next 20 years.  They plan to perform major exploration on their own property in the area, in order to add to their 5 million ounces.
   
   We`ll have to wait and see if they decide to kick the tires on our 2 Matechewan properties eventually, as the gold market picks up - as a JV partner.  If not, others may become interested eventually, as money gets injected into the sector and towards exploration.
   
   
   9)  Alexandria kicking the tires - Red Lake & Manitoba
   
   From last week`s Stockhouse article:
   
   ``This self-fulfilling bottleneck has carved a swath through the sector and as such, Alexandria is examining acquisition opportunities at both Red Lake and the company’s Manitoba properties.``
   
   Hopefully they are more careful this time, even if they find something at fire sale prices.  I guess is they are likely looking to extend the exploration areas to adjacent properties.  This probably entails optioning or outright purchase of exploration properties, as oppose to purchasing entire publicly traded companies.  Also, some of the land could be held by private individual people.  We`ll have to wait and see if anything develops on this front.