Alexander Nubia reports up to 10.95 g/t gold at surface over a
FSC / Press Release
Alexander Nubia reports up to 10.95 g/t gold at surface over a 2-m channel sample at its Hamama VMS Deposit
* AHA-CH-3383: assayed 15.35% zinc, 0.828 g/t gold, 12 g/t silver, 0.24% copper over a 2-metre channel sample within ankerite-rich gossan
* AHA-CH-3384: assayed 14.65% zinc, 0.316 g/t gold, 29 g/t silver, and 0.11% copper over a 2-metre channel sample, in the same ankerite-rich gossan zone assayed
* AHA-CH-3375: assayed 10.95 g/t gold over a 2-metre channel sample within VMS gossan
Toronto, Ontario CANADA, May 24, 2012 /FSC/ - Alexander Nubia International Inc. (AAN - TSX Venture), is pleased to announce results that assayed high grade gold and zinc values in the Western Zone at its Hamama gold-zinc volcanogenic massive sulphide (VMS) property in Egypt. Hamama is located near excellent infrastructure: 32 kilometres from a highway, railway, and high-capacity electricity grid, and 90 kilometres from a major city, Qena, on the Nile River. The Hamama Project is 35 kilometres from the company's Abu Marawat gold-copper vein deposit.
As announced on March 26, 2012, a shallow trenching program identified a broad high-grade gold zone, the Western VMS. This discovery subsequently has been expanded along strike to a total of 1150 m and is up to 110 m wide. Within a select portion of the Western VMS, a number of locations were flagged for initial 2-m-long channel samples that were taken from below the zone of surface rubble. East of the centre of this zone, two of these channel samples 76 m apart assayed 15.35% zinc, 0.828 g/t gold, 12 g/t silver, 0.24% copper [Assay Tag 3384] and 14.65% zinc, 0.316 g/t gold, 29 g/t silver, and 0.11% copper [Assay Tag 3383], respectively. A large excavator has been mobilized for a continuous deep-channel sampling program that will cut across the full width of the mineralized zone.
"These results are very encouraging; we interpret the high-grade zinc assays to represent local zones where zinc, and to a lesser extent, copper were preserved near the surface during weathering of the mineralized zone," said John Payne, VP of Exploration, Alexander Nubia Inc. "The high-grade gold sample adds to previous assay data that indicate that the Hamama VMS is enriched in precious metals. A deep-channel program is currently underway in this zone and others, which will provide a better indication of the near-surface mineralization. Hamama is an important VMS deposit that ranks with other known VMS deposits in the Arabian-Nubian Shield."
Table 1:Significant 2-m Channel Samples collected in the Western VMS Zone
-***- ------------------------------------------------------------------------- Channel No. (AHA) Location Width Gold Silver Copper Zinc Rock Type*
(m) (g/t) (g/t) (%) (%) ------------------------------------------------------------------------- CH-3375 Western VMS 2.0 10.95 11 0.01 0.01 VMS CH-3376 Western VMS 2.0 0.04 <1 0.02 0.28 Stringer Zone CH-3377 Western VMS 2.0 0.18 32 0.65 0.39 Stringer Zone CH-3378 Western VMS 2.0 0.07 6 0.19 0.80 Stringer Zone CH-3379 Western VMS 2.0 0.21 9 0.05 0.063 Stringer/Gossan CH-3380 Western VMS 2.0 0.72 54 0.35 0.17 Gossan CH-3381 Duplicate of 2.0 0.82 61 0.39 0.21
CH-3380 CH-3382 Western VMS 2.0 0.43 14 0.27 0.93 Gossan CH-3383 Western VMS 2.0 0.32 29 0.11 14.65 Gossan CH-3384 Western VMS 2.0 0.83 12 0.24 15.35 Gossan ------------------------------------------------------------------------- -****-
* VMS refers to gossan derived from sulphide-rich material, whereas Gossan refers to ankerite-rich exhalite that contains significant oxidized sulphides
Stringer = strongly altered andesite in the stratigraphic footwall of the VMS, commonly with highly anomalous zinc and less commonly with moderately anomalous copper
Currently, deep trenching is underway in the areas of the two high-grade samples using a large excavator. In addition to the Main VMS horizon, geologic mapping in its stratigraphic footwall has discovered a number of smaller VMS lenses, which also are targeted for trenching. Road construction and trenching in the stratigraphic footwall of the Main VMS horizon throughout the property have discovered widespread alteration zones, some of which contain anomalous values in zinc, copper, gold, and silver. These alterations zones have been flagged for a systematic trenching and sampling program that will begin about mid-May.
Hamama Deposit Highlights
> Main VMS horizon traced over 3,000 m along strike and open at both ends * The Main VMS horizon contains the Western, Central and Eastern VMS zones
> Stacking of visually identified VMS lenses in the stratigraphic footwall of the Main VMS horizon within a zone up to 2,000 m along strike
> Western VMS zone - at surface, gold zone traceable for 1,100 m along strike * A broad, high-grade zone 650 m along strike and averaging 60 m in width, contains uniform mineralization of 1.15 g/t gold and 19.4 g/t silver
> Central VMS zone - drilling and surface trenching confirm high-grade zinc mineralization from surface to a depth of 125 m
> Eastern VMS zone - extended by 125 m further east for a total length of 500 m and open to the east * Contains high-grade zinc plus anomalous copper and gold over a width of up to 48 m at the contact between the stringer zone and the VMS horizon
> Stringer-style alteration zones in the stratigraphic footwall of the VMS horizon commonly have highly anomalous values of zinc and moderately anomalous values of gold, silver, and copper. Grades in the footwall stringer zone commonly increase towards the contact with the VMS zone.
> A number of additional, visually similar alteration zones have been identified throughout the property.
Other VMS deposits in the Arabian-Nubian shield (a mineralized belt that extends into Saudi Arabia and from Egypt to Eritrea) that either are in production or at an advanced stage of exploration include:
* Barrick Gold Corp. (TSX: ABX) - Jabal Sayid (Saudi Arabia)
* La Mancha Resources Inc. (TSX: LMA) - Hassai deposit (Sudan)
* Tigray Resources Inc. (TSX.V: TIG) - Harvest deposit (Ethiopia)
* Nevsun Resources (TSX:NSU) - Bisha deposit (Eritrea
The technical information contained in this news release was prepared or reviewed under the direct supervision of Mr. Ralph Gonzalez (P.Geo.), Alexander Nubia Inc.'s Project Manager for exploration in Egypt. Mr. Gonzalez is a qualifying person under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").
Alexander Nubia employs an on-site sample preparation facility where core is diamond sawed into two equal halves; one half of the core is returned to its core box for permanent on-site storage and the other half, weighing approximately 2 kilograms, is crushed to minus 5 mm and riffle split to 500 g. The 500 g sample is pulverized to a nominal -75 mesh and divided into two halves. One half is delivered to the Egyptian Mineral Resource Authority for storage and the other half is shipped for analysis to the ALS Minerals laboratory in Romania. ALS Minerals is an internationally recognized and accredited analytical facility. ALS re-pulverizes all samples to insure the samples are homogenized and removes a one-assay/ton cut (approximately 30 grams) for gold analysis followed by an atomic absorption finish using industry accepted fire-assaying techniques. In addition, a 5-10 g sample is removed for Ag-Cu-Zn analysis by atomic absorption after digestion in aqua regia. Over-range copper (>10,000 ppm), zinc (>10,000 ppm) and silver (>100 ppm) are re-analyzed using readjusted atomic absorption spectrometry (AAS) techniques. Selected samples are determined by inductively coupled plasma spectrometry - atomic emission spectroscopy (ICP-AES) after a four-acid digestion for 'near total' digestion. This technique scans a total of 33 elements. A quality control program consisting of blanks and analytical control standards has been implemented to monitor laboratory performance; this is in addition to ALS's internal QA/QC program. Discrepancies have been few, and when discovered, the 'laboratory batch' (generally 20 samples in a batch) is re-analyzed.
About Alexander Nubia International Inc.
Alexander Nubia International Inc. (TSX-V: AAN) is a Canadian exploration and development Company focused on the exploration of precious and base metals in the Eastern Desert of Egypt. The Company holds two exploration concessions: Abu Marawat (previously held by Centamin: TSX: CEE) and Fatiri, which cover a combined total area of 2,772 km2.
The Company is currently focused on exploration within the Abu Marawat concession where the company's two main properties are situated. In this 1,027 km2 historical gold and copper mining district are numerous small workings including, historical small-scale mining at the Abu Marawat Deposit, Hamama - a volcanogenic massive sulphide deposit, and two past-producing gold mines (Semna and Sir Bakis). The principal projects, Abu Marawat and Hamama VMS, are located near excellent regional infrastructure. The projects are 35 kilometres apart and are within 30 kilometres of a highway, railway, and high-capacity electricity grid, and are near major cities: Qena, on the Nile River, and Safaga, on the Red Sea.
For more information on Alexander Nubia please contact:
A. Alexander Massoud President and Chief Executive Officer Egypt: +2 (0) 22 287 6914 Email: email@example.com
Donald M. Cameron, CA CFO Canada: +1 (877) 607-4747 Email: firstname.lastname@example.org
Nisha Hasan Investor Relations, TMX Equicom 416-815-0700 ext. 258 Email: email@example.com
Cautionary Note Regarding 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 news release. The securities of Alexander Nubia International Inc. described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions; by their very nature they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view this press release as a web page, please click on the following link: http://www.usetdas.com/pr/alexander05242012.htm
Provider ID: 00019712 -0- May/24/2012 12:07 GMT