Alexandria Minerals Corp. (
TSX: V.AZX,
OTCQB: ALXDF,
Forum) announced yesterday a a new joint venture with Probe Metals Inc. The deal comprises the eastern 1/3 of Alexandria’s 35-kilometer-long Cadillac Break Property Package, located in the famed Val d’Or mining district.
The eastern portion of the Cadillac Break Property is an early-stage exploration property with little historical exploration information, on which Alexandria has conducted little or no work. The Company sees this joint venture as a risk-free opportunity to unlock shareholder value in this undeveloped portion of the land package, at zero cost to AZX shareholders. Meanwhile Alexandria will continue to focus its own operations on expanding development in the western 2/3 of the Cadillac Break. Further information on the original release can be found
here.
Alexandria was recently in the news when it announced a
new financing deal with Sprott Private Wealth LP. Sprott will act as exclusive agents in a best-efforts private placement, raising gross proceeds of up to $5.082 million. AZX plans to dedicate the proceeds of this offering to expanding on its drilling program at Cadillac Break, with particular focus on the Orenada and Triangle Too projects in the western part of the property package.
FULL DISCLOSURE: Alexandria Minerals Corp. is a paid client of Stockhouse Publishing.