Alexandria Minerals Corporation (TSX VENTURE:AZX)(OTCQB:ALXDF)(FRANKFURT:A9D) ("AZX" or the "Company") is pleased to announce that it has added a third drill rig to complete the 12,500-meter drill program located at Orenada Zone 4, Val d'Or, Quebec.
The third drill rig began this week at Zone 4, where the Company has identified a suite of shallow, parallel, high-grade gold vein sets. The vein sets have been intersected over 700 meters along strike, across 30-50 meters width, and from surface to below 300 meters in depth. These veins remain open in all directions.
Eric Owens, President and CEO of Alexandria, states, "We have had a highly successful drill program at Zone 4. Our drilling since last Fall has increased the length of the veins from 200 m to 700 m long, and increased the depth to 300 meters. The addition of a third rig will accelerate the drill program with the goal of expanding the resources by drilling untested areas to the east and west of the pit as well as at depth. The project is rapidly developing."
Highlights of recent drilling at Zone 4 include the following previously released assays:
- DDH OAX-17-090 intersected 8.40 g/t Au over 17.10 m, including 24.10 g/t Au over 4.00 m and 45.10 g/t Au over 1.00 m, at 140 meters downhole;
- DDH OAX-17-088 intersected up to 4.07 g/t Au over 10.20 m, including 7.42 g/t Au over 1.10 m, 6.80 g/t Au over 0.90 m, and 5.09 g/t Au over 1.50 m, at 150 meters downhole;
- Drilling is currently underway below the open pit and to the west of the open pit;
- All drilling is shallow, focused between surface to 250 meters deep; assays are pending for 14 holes.
The early stages of this program has concentrated on better defining the subsurface continuity of the vein sets. To-date, Alexandria has identified 13 subparallel high-grade gold vein sets down to 300 meters. The 3 rigs will be drilling 7,000 meters which will focus on Step-out, Definition, and Infill drilling, in order to better define the gold zones.