Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) reports today on assay results from six holes on its Akasaba Au-Ag project in Val d'Or, Quebec, including a high grade intersection, in hole IAX-10-88, of 11.65 g/t Au over 0.75 m, as part of a wider intersection grading 2.14 g/t Au over 9.0 m at a shallow 175 m depth.
In addition, the Company intersected 60.11 g/t Au over 0.38 m in a separate zone to the north of the main mine horizon.
Three of the holes, DDH IAX-10-88, 89, and 93, were completed below the historic mine area at Akasaba, where roughly 40,000 ounces of gold, at an average grade of 5.12 g/t Au, and 12,000 ounces of silver, were produced down to 90 m depth in 1961-1963. To date, the company has enlarged, by drilling, known gold mineralization in the mine horizon from 200 m long by 150 m deep in the mine area, to 900 m long, with depths up to 325 m. The target remains open at depth and along strike.
Hole 88 intersected the main mine horizon 50 m below the historically defined gold zones, and also intersected several intervals which assayed between 0.5 g/t to 1 g/t Au below the high grade intersection. At 300 m depth, the hole intersected 58.40 g/t Ag over 1.13 m.
Holes 89 and 93, crossed the target mine horizon at 130 m and 150 m depths, respectively. Hole 89 assayed 0.74 g/t Au and 7.05 g/t Ag over 2.25 m and hole 93 assayed 3.11 g/t Au over 2.25 m. The high grade gold assay of 60.11 g/t Au over 0.38 g/t in hole 89 occurred at 16.75 m to 17.75 m downhole, and points to a separate zone north of the main mine horizon. Assays are pending for 8 holes below the mine area.
Eric Owens, Alexandria President & CEO, said, "These are very positive results that continue to refine the known mineralization at Akasaba. They are invaluable in helping us to plan our next drill program. We have enough capital to complete the largest drill program in the Company's history at our flagship Akasaba Project."
Three shallow holes were completed more than 400 m east of the mine area, and east of the recently discovered shallow high grade gold zone. DDH IAX-10-80, 81, and 82 intersected the mine horizon at less than 50 m deep, and assayed wide, anomalous silver, up to 1.89 g/t over 23.5 m and 1.20 g/t Ag over 31.50 m, within which were narrow higher grade intervals, including 9.00 g/t Ag over 0.75 m.
Drilling has begun again at Akasaba, with one drill rig currently on site testing targets and extensions of mineralization at depth and along strike. Assays are pending for a total of 15 holes from a variety of targets along the mine horizon as well as targets north and west of the mine horizon.
The results presented in this press release are exploratory in nature and have been reviewed by the company's Qualified Persons, Jared Beebe, PGeo, and Dr. Eric Owens, PGeo. These results have not been verified by an Independent Qualified Person ("QP") and therefore should not be relied upon except for their exploratory value. There is no Current Resource underlying the Akasaba property as defined by National Instrument 43-101, and no guarantee that an economic gold deposit is present. Further work by Alexandria and an Independent QP will be required to bring the data into compliance with NI 43-101.
Source: Alexandria Minerals Corporation