Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D

Alexandria Minerals Corporation

December 04, 2007 08:31 ET

Alexandria Increases Size of Cadillac Break Properties, Val d'Or; Drilling Expands Orenada 4

TORONTO, ONTARIO--(Marketwire - Dec. 4, 2007) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) has added 11 mineral claims to its Cadillac Break property group through a Purchase and Sale agreement with Marc Deckeyser and Sylvio Houle. The Company has also staked an additional 25 claims adjacent to the Deckeyser claims in Louvicourt Township, as well as 18 claims adjacent to its Orenada property in Bourlemaque Township, bringing to 529 the number of claims stretching over 32 km in the Company's Cadillac Break property group.

The Deckeyser claims are located along the Cadillac Break 15 km east of Orenada, between Alexandria's Trivio and Bloc Sud properties, and are therefore considered prospective for gold targets along and near the Cadillac Break. In a March 2007 drill programme on the adjacent Bloc Sud property testing a blue-sky geophysical anomaly, Alexandria intersected 1.97 g/t Au over 4.50 m (core length) in DDH BS-07-37 (Press Release May 24, 2007). Historical results on the Trivio property to the east have yielded up to 8.4 g/t Au over 6.1 m from a trench sample and up to 14.4 g /t Au and 94.3 g/t Au from grab samples.

Subject to TSX approval, Alexandria can earn 100% in the claims by completing the following commitments: 1) Initial cash payment of $10,000, 2) issuance of 75,000 company shares to the Optionors upon signing, and 3) aggregate of $25,000 in exploration expenditure on or before September 12, 2010.

EXPLORATION UPDATE

In December 2006, Alexandria initiated a large-scale drilling program designed to test several prospective targets near historical gold deposits, primarily on the westernmost region of the project. This drill program began with one drill rig in December 2006, with a second drill rig added in June 2007. The second drill rig allowed the Company to keep one rig specifically on the Orenada 2 and 4 zones. This "definition" drilling has extended the gold mineralization along strike and now to depth.

Assay results are slowly being received, mostly with partial results. Due to these delays, the Company will continue to use one drill rig for the remainder of 2007, to allow for assays to be interpreted, reviewed and combined with all current and historical exploration data. In January, Alexandria will return with 2 drill rigs. The purpose of the drilling throughout 2008 will be two-fold: 1) to continue testing the size limits and grade of the historic Orenada gold deposit and 2) to test early-stage exploration targets elsewhere on the 32-km long Cadillac Break properties.

One complete hole has recently been received at Orenada 4, DDH OAX-07-20A, which intersected 3.32 g/t Au over 3.05 m (2.59 m true width) in the target zone, part of a wider zone grading 1.39 g/t Au over 11.45 m (9.71 m true width).

This is an encouraging development for the Company, as the gold mineralization was intersected at the greatest depth yet penetrated at Orenada 4, at 480 m vertical depth, and suggests a potential increase in size of known mineralization. OAX-07-20A hit the target zone 50 m below previously announced DDH OAX-07-13, which intersected 3.24 g/t Au over 10.50 m (Press release, August 15, 2007), and 120 m below previously announced DDH OAX-07-6, which intersected 3.18 g/t Au over 6.60 m (Press Release September 5, 2007).

Since June, the Company has completed 38 drill holes on the Orenada property, totaling roughly 12,700 meters, in addition to 8 exploration holes on the Airport, Mid-Canada, and Ducros properties. We are currently awaiting assay results from 15 holes at Orenada.

Currently the Company is nearing completion of the compilation of more than 70 years of exploration data collected by previous explorers on the Cadillac Break properties. As part of these efforts, Alexandria is also completing a 43-101 survey by an independent geologist; this report with much of the data review should be complete by mid-December, 2007. In addition to more than 2,400 drill holes over the broader property package, there are numerous trenches, property-wide geophysics and geochemistry (Induced Polarization, Magnetics, and Electromagnetics surveys, soil and glacial till samples). Completion of this compilation will provide Alexandria with excellent information for targeting future exploration drill holes.

It is worth noting, for instance, the Sleepy deposit, located at the eastern end of the Company's property package, was discovered in the late 1980's by Cambior Inc. by drilling a glacial till anomaly, and that there are several other as-yet untested glacial till anomalies on the broader property package. The Company has already delineated numerous priority exploration targets from this data, on which it will begin drilling early in 2008. These targets include follow-up testing of significant results the Company received from drill holes on its Oramaque, Bloc Sud West and Sleepy properties in the Spring of 2007, as well as new targets based on geology, geophysics and historical exploration results.

The results presented in this press release are exploratory in nature and have been reviewed by the company's Qualified Person, Eddy Canova, P.Geo. The drilling program employs a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Drill core is NQ-sized, and is logged, sampled and split at the Company's Val d'Or office, in intervals of 0.3 meters to a maximum of 1.5 meters. The samples are recorded, bagged and sent to Bourlamaque Assay Lab in Val-d'Or for assay. Samples are analyzed for Au, Ag, Cu and Zn, via a 30 gram pulp by FAA for Au and AA for Ag, Cu and Zn. Re-assays by FA gravimetric finish are performed on samples assaying greater than 1.0 g/t Au and re-assays greater than 5.0 g/t Au are checked a second time by FA gravimetric finish.

Alexandria Minerals Corp. is a Toronto-based mineral exploration and development company, currently focused on the exploration for precious metals on mineral properties located in Northern Ontario and Quebec. The Company's management has extensive global experience with small to large mining companies, from grass-roots exploration to the exploitation of mineral deposits. The Company is a reporting issuer in the provinces of British Columbia, Alberta and Ontario.

WARNING: The Company relies upon litigation protection for "forward-looking" statements. 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Coal Harbor Communications
    Dale Paruk
    (604) 662-4505 or Toll Free: 1-877-642-6200
    (604) 662-4547 (FAX)
    Email: info@coal-harbor.com
    or
    Alexandria Minerals Corporation
    Eric Owens
    (416) 363-9372
    Email: info@azx.ca
    Website: www.azx.ca