Alexandria Minerals Corporation is pleased to report that a recently-completed, 744 hectare, 78 line-km, high-power 3-D Induced Polarization ("IP") survey over its Akasaba and adjacent Valdora projects has identified 7 anomalous trends over the area, including along strike to the east of the Akasaba Mine Trend.
The Ipower3D survey, conducted by Abitibi Geophysics ("Abitibi"), tested areas to the north and east of the Akasaba resource. Among the 7 highlighted anomalies, 5 have geophysical characteristics similar to the Akasaba main deposit indicative of mineralization hosted in an altered shear or fault zone. One untested anomaly of particular interest is located approximately 600m east and along strike from the Akasaba main zone, suggesting a possible continuation of the main Akasaba mine trend.
All identified anomalies are generally untested below 150m from surface. The anomalies identified are continuous over 500m to 1,500m. Alexandria geologists are working with Abitibi's geophysicists to plan follow-up drill-testing of these newly identified targets.
From 2010 to 2013, Alexandria discovered and built a significant gold-copper resource in the southwestern part of its Akasaba property, culminating with the discovery of the West Zone in 2012, a National Instrument 43-101 compliant Inferred Resource of 14 million tonnes with an average grade of 0. 7 g/t gold and 0.4% Cu (see Press Release February 7, 2013). Alexandria recently sold the West Zone to Agnico Eagle Mines for $5 million plus 2% NSR (Press Release January 14, 2014).
The Akasaba-Valdora IP survey is part of a larger set of geophysical studies intended to test for more Akasaba-like targets in the shadow of nearby granitic intrusive rocks. This geological environment is similar to that found in the La Ronde-Doyon-Bousquet district of western Quebec, an area that has seen some 26 million ounces of gold produced over the last 60 years. The IP surveys will greatly assist Alexandria to identify numerous new drill targets in its efforts to discover more Akasaba-like gold and base metal mineralization.
Source: http://www.azx.ca/