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Alexandria Minerals Corp ALXDF

Alexandria Minerals Corp is a Canadian based gold exploration and development company. Its project consists of Orenada, Akasaba, Sleepy, Manitoba and Ontario properties together with the Other Quebec properties. It is mainly focused on exploring the cadillac break property which is located in Val-d'Or, Quebec. The cadillac break property consists of approximately 21 contiguous projects of over 460 claims, located in Bourlamaque, Louvincourt and Vaquelin Townships. The manitoba properties include


GREY:ALXDF - Post by User

Post by goldhunter11on Mar 02, 2018 10:48am
131 Views
Post# 27651340

AZX 900m StepOut Zone - Contribution to the updated RE

AZX 900m StepOut Zone - Contribution to the updated REAccording 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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