Alexandria Expands Sleepy Gold Deposit With Drill Intersection of 3.82 g/t Gold
Over 20.0 m
TORONTO, ONTARIO -- (Marketwired) -- 05/15/13 -- Alexandria Minerals
Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D)(PINKSHEETS:ALXDF)
reported today on the results of its winter 2012-2013 drilling
program on the Company's Sleepy project located in Val d'Or, Quebec.
A total of five holes were completed in the program with the most
significant results from hole DDH SAX-13-025, in which multiple
intervals of gold were intersected approximately 100 m west of hole
DDH SAX-11-005, the previous deepest gold intersection that assayed
11.28 g/t Au over 3.3 m (True Width).
DDH SAX-13-025 intersected 2 separate gold bearing intervals in the Sleepy
Zone as follows:
573.60-593.60m 3.82 g/t Au and 3.83 g/t Ag over 20.00m (13.31m True
Width, "TW"), including
576.60-583.60m 6.65 g/t Au and 7.99 g/t Ag over 7.00m (4.65 m TW),
588.60-592.60m 5.73 g/t Au and 1.70 g/t Ag over 4.00m (2.67 m TW)
601.30-605.30m 6.92 g/t Au and 10.98 g/t Ag over 4.00m (2.65 m TW),
601.30-602.30m 26.50 g/t Au and 42.00 g/t Ag over 1.00 m (0.66 m TW)
Eric Owens, President and CEO, said, "These results exceed or are
consistent with prior holes completed nearby, and identify a
significant extension of the Sleepy deposit below the Current
Resource. Most encouragingly, the grades are higher overall with
broader widths. This is a very positive outcome because we have
substantially increased the potential for more resources here."
The Current Resource at Sleepy consists of 1.6 million tonnes grading
3.00 g/t Au for 150,400 ounces of gold. It extends from surface to
400 m depth, is 350 m along strike and averages 5.35m wide. The
mineral resource was completed by Geopointcom of Val d'Or, Quebec
(see Press Release October 29, 2009). The new drilling combined with
previous results outlines a zone below the Current Resource, that
extends for 250 m along strike, lies between 250 m depth and 500 m
depth, averages 7-8 m wide and remains open to depth.
Other previously released holes in the deep zone are of consistently higher
grade, and greater width than the Current Resource and include:
IAX-08-30: 3.77 g/t Au over 3.1 m TW
IAX-09-49: 3.76 g/t Au over 8.21 m TW
SAX-11-01: 4.12 g/t Au over 8.88 m TW
SAX-11-05: 11.28 g/t Au over 3.3 m TW
SAX-11-09: 6.82 g/t Au over 16.96 m TW
Four other offset holes were also completed during the winter
program, principally to the east of the Current Resource. These holes
intersected Sleepy-type mineralization, returning low to anomalous
values of gold. Focus on future drilling will be down-plunge and to
As of March 1, 2013, the Company has ceased its drilling program and
is currently planning the next round of drilling at Akasaba and
adjacent targets on the surrounding properties. Drill hole assay
results from exploratory targets at Akasaba are pending.
Program design, management, and Quality Control/Quality Assurance are
governed by Alexandria's exploration group of which Peter Legein,
P.Geo, and Eric Owens, P.Geo, are the Company's Qualified Persons.
Mr. Legein and Mr. Owens reviewed the results in this press release.
The QA/QC program is consistent with NI 43-101 and industry best
practices and has been previously addressed in the NI 43-101
Technical Report on the Cadillac Break properties (February 2008) as
well as in subsequent NI 43-101 reports found on the Company's
website or on www.sedar.com.
Further information about the Company is available on the Company's website,
www.azx.ca, or our social media sites listed below:
About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold
exploration and development company with one of the largest portfolio
of properties along the prolific, gold-producing Cadillac Break in
Val d'Or, Quebec. Global gold resources are distributed between three
projects on its Cadillac Break Property package, Akasaba, Sleepy, and
Orenada, the details of which can be found on the Company's website
at www.azx.ca. The Company is currently focused on advancing its
Akasaba project. Agnico-Eagle Mines Ltd., with two producing gold
mines in the region, owns roughly 10% of the Company.
WARNING: This News Release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of up-coming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and conditions
and therefore involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in
such statements. Alexandria Minerals Corporation relies upon
litigation protection for 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 release.
Alexandria Minerals Corporation
Alexandria Minerals Corporation
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