Alexandria Provides Update of Activities
June 11, 2014 (Source: Marketwired) — Alexandria Minerals Corporation (TSX VENTURE:AZX) (FRANKFURT:A9D) (PINKSHEETS: ALXDF) is pleased to provide an update on its activities which will focus on a 10,000 m drill program on its Cadillac Break property package in Val d’Or Quebec. This drill program is intended to test targets developed from the Company’s geophysical and drilling activities completed this past winter and spring.
Since last October 2013, Alexandria has completed a series of surface geophysical (Induced Polarization, “IP”) surveys covering 18 square-km (180 hectares). These surveys were conducted over Alexandria’s Akasaba, Valdora, Oramaque, Annamaque, and Ducros projects, as well as a downhole, Hole-to-Hole IP survey below the historic Akasaba mine. Additionally, Alexandria completed an 8,148 m drill program on its Akasaba, Valdora and Sleepy projects. All of these activities have provided Alexandria’s geologists with an abundance of strong drill targets for the Company’s next phase of drilling.
The main objective of this work is to expand its exploration drilling program beyond Akasaba as it seeks to discover more gold-base metal mineralization similar to that underlying the Akasaba Au-Cu project. Alexandria geologists discovered a significant gold-copper resource at Akasaba which, in February 2013, was the fourth largest deposit in Val d’Or.
Alexandria is encouraged that the geological characteristics observed at Akasaba also underlie most of the western half of its 35 km-long Cadillac Break group of properties. The Company further notes that the geology has similarities to that of the Bousquet-Doyon-La Ronde district, a 7 km-long gold district which has produced some 26 million ounces of gold 45 km west of Alexandria’s properties.
The IP surveys on the Akasaba Au-Cu project have already yielded excellent drill targets below and along strike with the resources in this vicinity. As such, the Company will begin drilling on these targets in mid-June, with 6 new holes planned, as well as extending 3 pre-existing holes to depth. Company geologists continue to interpret the rich geophysical results from the IP surveys covering the western part of the property package at Ducros and Oramaque with the expectation of identifying additional targets.
The Company continues to compile the more than 80 years of exploration data on the property package, which is now more than 65% complete. This has allowed Company geologists to view and reinterpret this information within a modern context as it plans new drill targets.
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.
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.