Welcome!

News Feed Item

Alexandria Accelerates Akasaba Drilling Program with Addition of Second Drill Rig

TORONTO, ONTARIO -- (Marketwired) -- 08/21/14 -- Alexandria Minerals Corporation (TSX VENTURE: AZX)(FRANKFURT: A9D)(PINKSHEETS: ALXDF) is pleased to report that it has deployed a second drill rig to accelerate its 10,000 m drill program on its Akasaba project in Val d'Or, Quebec. The goal is to expand on known gold-copper mineralization by testing geophysical targets along strike with, and below, the mine-area Current Resources.

This past winter, the Company completed a 78 line-km surface Induced Polarization ("IP") survey over the Akasaba and adjacent Valdora properties, as well as a down-hole IP survey below the historic Akasaba Mine, both of which identified a number of strong targets for follow up drilling.

The first phase of this drilling program is testing 3 principal target
areas:
 1) a large, 1,000 meter long IP anomaly approximately 1 km east along
    strike with the Akasaba mine area (the "Kettle Zone");
 2) deep targets below the Current Resources along the main Mine Zone; and
 3) deep targets along the North Zone, a gold-bearing zone north of, and
    parallel to, the main Mine Zone.

The first phase of the program consists of deep drilling on the main Mine Zone and the North zone, and involves 3 new drill holes and deepening 2 previous Alexandria drill holes, totaling 4,000 m. Drilling on the Kettle Zone consists of 5 drill holes totaling 2,500 m. A further 3,500 m of drilling are planned as follow-up holes.

Between 2009 and 2013, Alexandria completed 74,157 m of drilling on its Akasaba project, which is located approximately 15 km east of Val d'Or, Quebec, in the center of the Company's Cadillac Break property package, a 35 km long group of properties totaling 676 mineral claims. This drilling allowed Alexandria to build significant gold and gold-copper resources along the main Akasaba Mine Trend (Press Release February 7, 2013), including the discovery, in early 2012, of the West Zone gold-copper deposit (Press Release June 26, 2012).

In early 2014, Alexandria sold the West Zone gold-copper deposit to Agnico Eagle Mines Ltd., for $5 million cash, and 2% NSR on all metals after 210,000 ounces of gold are produced (Press Release January 14, 2014). As a result of this sale, Current Resources (National Instrument 43-101 compliant) that remain at Akasaba consist of both underground, high grade resources and near-surface, bulk tonnage resources as follows (Recalculated by Christian D'Amours at Geopointcom in Val d'Or, Quebec - see Press Release, February 20, 2014):

Table 1: Current Resource Estimate at Akasaba (NI 43-101 Compliant)

----------------------------------------------------------------------------
                                   Tonnes    Grade (g/t Au)     Ounces Gold
----------------------------------------------------------------------------
 Underground Indicated            609,300              5.93         116,240
----------------------------------------------------------------------------
 Underground Inferred           1,475,600              5.58         264,960
----------------------------------------------------------------------------
 Main Pit Indicated             3,009,200              1.37         132,550
----------------------------------------------------------------------------
 Satellite Pit Indicated          219,900              1.93          13,640
----------------------------------------------------------------------------

Table 1 Notes
 1. Mineral resources reported are recalculated from the National Instrument
    ("NI") 43-101 compliant resources reported on March 27th 2012 (Main and
    Satellite Pits) and February 7th, 2013 (Underground) without including
    resources that were encompassed on the 14 claims sold to Agnico Eagle on
    January 13th, 2014. Recalculation has been reviewed by Christian
    D'Amours of Geopointcom in Val d'Or, QC.
 2. Mineral resources which are not mineral reserves have not demonstrated
    economic viability. The estimate of mineral resources may be materially
    affected by environmental, permitting, legal, title, taxation,
    sociopolitical, marketing, or other relevant issues, although the
    Company is not aware of any such issues.
 3. The quantity and grade of reported inferred resources in this estimation
    are uncertain in nature and there has been insufficient exploration to
    define these inferred resources as an Indicated or Measured mineral
    resource and it is uncertain if further exploration will result in
    upgrading them.
 4. The mineral resources were estimated using the Canadian institute of
    Mining, metallurgy and Petroleum (CIM), CIM Standards on mineral
    Resources and Reserves, Definitions and Guidelines prepared by the CIM
    Standing Committee on Reserve Definitions and adopted by CIM Council.
 5. Assumptions for the Resource Calculation for Underground: (a) Gold
    Price, $1,325/oz., (b) Cut-off Grade, Underground, 2.25 g/t Au, Open-
    pit, 0.5 g/t, (c) Bulk Density, Mine area underground and open pits,
    Specific Gravity 2.8; (d) Minimum true width, Underground, 2.5 m, all
    Open Pits, 5m, (e) Blasting/Mucking costs, Underground, $68/tonne, Open-
    Pit, $5.75/tonne, (f) Milling Costs, $12/tonne, (g) Overburden removal
    costs, $3/cubic meter, (h) Open pit shell optimized for best revenue,
    (i) Geostatistical analysis indicate no grade capping is necessary, (j)
    recovered ounces are based on 92% recovery.

In addition to the geophysical surveys completed at Akasaba this past winter, the Company also completed a series of IP surveys on its western Cadillac Break property package as part of a broad re-evaluation of the geology and geophysics of the area. Company geologists have identified several new strong geophysical targets on its Ducros, Oramaque, Orenada and Annamaque projects 5-7 km west of Akasaba, which are coincident with historic gold-copper-moybdenum targets, similar to those discovered at Akasaba. Alexandria intends to begin drill testing some of these this fall.

Program design, management, and Quality Control/Quality Assurance are governed by Alexandria's exploration group of which Philippe Berthelot, P.Geo, is the Company's Qualified Person. Mr. Berthelot has 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:

Facebook: https://www.facebook.com/pages/Alexandria-Minerals-Corporation-AZXTSXV/186115074772628

Twitter: https://twitter.com/azxmineralscorp

YouTube: http://www.youtube.com/AlexandriaMinerals

Flickr: http://www.flickr.com/alexandriaminerals/

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 three producing gold mines in the region, owns roughly 9% 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.

Contacts:
Alexandria Minerals Corporation
Eric Owens, PGeo
President/CEO
416-363-9372

Alexandria Minerals Corporation
Mary Vorvis
Vice-President Corporate Development & Investor Relations
(416) 305-4999
[email protected]
www.azx.ca

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to close th...
"Digital transformation - what we knew about it in the past has been redefined. Automation is going to play such a huge role in that because the culture, the technology, and the business operations are being shifted now," stated Brian Boeggeman, VP of Alliances & Partnerships at Ayehu, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
"WineSOFT is a software company making proxy server software, which is widely used in the telecommunication industry or the content delivery networks or e-commerce," explained Jonathan Ahn, COO of WineSOFT, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Sanjeev Sharma Joins June 5-7, 2018 @DevOpsSummit at @Cloud Expo New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...