Alexandria Minerals Corp ALXDF

AZX 900m StepOut Zone - Contribution to the updated RE

[goldhunter11]

According to the company NR, link below, the data from the 9 step-out holes  will not be used in updated RE.This is simply because the data are not enough to be used in a NI-43-101 compliant Technical Report. Thet will need to drill more holes before the data can be included in such document.
https://www.azx.ca/addendum-to-press-release-february-22-2018/

The step-out zone is shown in Figure 1 of this Addendum. The 9 holes start from hole OAX 190A just west of the old pit t hole OAX-17-200 some 900m away to the west. The gold zone is coloured "red", with the widest portion around the pit (say ~100m in the N-S direction). According to the drawing ("artist conception"?) the gold zone gets thinner heading west. Let's assume that this is true (the company would need to draw a conservative picture in view of lack of data, there is a huge gap of ~400m from hole 234A to hole 200).

Assumptions:
- L: 900m
- W: 50m
- Depth: 10m
Rock Tonnage: 900 x 50 x 10 x 2.7sg = 1.2M tonnes
- Average grade: 2.6gpt
- Oz: 1.2M tonnes x 2.6/31 = 0.100Moz per 10m

This simple math illustrate that for every 10m (depth) of rock along that 900 m "trench" there is a potential of 0.1Moz of Au sitting under there. But, the question is how to prove it. By drilling of course.

Let say,  AZX decides to drill out this step-out zone with an array of 3 rows of 18 hole/each row (roughly to get a spacing of ~50m between the holes so that the data would be allowed to be used to crank out a Tech Report. 3 x 18 = 54 holes x 300m deep = ~15,000m drill program @ $100/m = $1.5M. Double that for assaying and Tech Report writing costs = $3M which is not that large a sum.
ES can exercise his 33Mwts @0.09 = $3.0M. They can mobilze 3 drills, one for each row for some non-stop drilling.
GH
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