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.

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
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, will present a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to max...
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Imagine having the ability to leverage all of your current technology and to be able to compose it into one resource pool. Now imagine, as your business grows, not having to deploy a complete new appliance to scale your infrastructure. Also imagine a true multi-cloud capability that allows live migration without any modification between cloud environments regardless of whether that cloud is your private cloud or your public AWS, Azure or Google instance. Now think of a world that is not locked i...
Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls "Bimodal IT," where business struggle to apply modern tools and practices to traditional monolithic applications. But these existing assets can be modernized and made more efficient without havin...