Alexandria Intersects 11.20 g/t Au over 0.90 m at Valdora, Appoints Philippe Berthelot as Vice President of Exploration
April 24, 2014 (Source: Marketwired) — Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) (PINKSHEETS:ALXDF) is pleased to report on the final assay results from the winter’s drill program on its Valdora property in Quebec, including high grade results from 3 drill holes in the northern part of the property. Company geologists are interpreting these assay results in conjunction with past assay results as part of its planning for follow-up drilling.
Alexandria also wishes to announce the appointment of Philippe Berthelot, PGeo, as Vice President, Exploration. Mr. Berthelot has more than 28 years of experience in the mining and exploration industry with well-known companies such as Aur Resources, Ressources Cartier and Alexis Minerals. He was instrumental in the discovery of the Grevet deposit (which eventually became the Langlois Mine), and in the delineation and growth of the Desjardins Discovery, Lac Pelletier and Jolin gold deposits in Quebec. In addition to his broader knowledge, he brings considerable expertise to Alexandria as a result of his extensive prior experience with Alexandria’s properties in the Val d’Or area.
Eric Owens, President and CEO, stated, “We welcome Philippe to an efficient, energetic and motivated team that has made considerable progress over the last two years in difficult markets. Most significant was our discovery and sale of the West Zone to Agnico Eagle. As a result, Alexandria is well-positioned for growth, with $5.5 million in the bank, and Philippe will be important in this growth going forward.”
On the exploration front, final assay results have been received from the Company’s winter time 9,368 m diamond drilling program on the Akasaba and adjacent Valdora projects. Specifically, on its Valdora property, high grade mineralization has been intersected in the following drill holes:
|VAX-13-007||4.11 g/t Au over 0.60 m in a broader zone assaying 0.58 g/t Au over 10.20 m|
|VAX-13-008||14.00 g/t Au over 0.30 m and, separately, 11.20 g/t Au over 0.90 m|
|VAX-13-009||3.42 g/t Au over 1.00 m|
The winter drill campaign was the first by Alexandria to test these target areas on the Valdora property, and represents its intent to broaden its program to find more Akasaba-like Au-Cu mineralization over a larger part of the Company’s 35 km long Cadillac Break Group of properties. Previously announced results from this winter program elsewhere on Valdora include 142.50 g/t Au over 0.3 m and 5.29 g/t Au over 4.0 m (Press Release, February 20, 2014). Together with the recently completed IPower3D Induced Polarization survey, Alexandria geologists are planning follow-up drilling targets.
The Valdora property lies to the north and west of the Akasaba property, and is underlain by geology similar to that at Akasaba, with much the same geophysical characteristics. A number of companies have conducted exploration activities on the property since the 1930’s, resulting in historical drill assays such as 4.8 g/t over 8.8 m including 29.2 g/t Au over 0.6 m and 26.6 g/t over 0.9 m, 5.8 g/t over 3.8 m including 42.6 g/t Au over 0.5 m, 7.3 g/t Au over 3.1 m and 2.2 g/t Au over 15.2 m including 9.0 g/t Au over 3.1 m from six east-west trending target areas on the property. Alexandria is committed to advancing its drilling program on this property as the Company strongly believes that there is more gold to be found that replicates these historical assays.
Elsewhere, the Company has been conducting a 4,000 m drill program on its Sleepy deposit, located 12 km east of the Valdora and Akasaba projects, as well as a 102 line-km Induced Polarization survey on the western portion of its Cadillac Break group of properties. Results are pending for both the drilling and geophysics.
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. All exploration work on the property is conducted under the direct supervision of Mr. Berthelot and Emilie Batailler P.Geo. 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.
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