Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D

Alexandria Minerals Corporation

November 12, 2009 10:32 ET

Alexandria Releases New Trench Results At Akasaba Grading Up To 7.62 g/t Au Over 0.5 m and Will Begin First Major Drill Campaign

TORONTO, ONTARIO--(Marketwire - Nov. 12, 2009) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) reports that it will begin this week a 2,500 m drill programme on its past-producing Akasaba gold Project in Val d'Or, Quebec, following the encouraging results received from its mapping, sampling and trenching activities.

Geophysical and geological evidence show that the volcanic stratigraphy that hosts the past-producing Akasaba Mine ("Mine Horizon") can be traced for more than 2.5 km via a strong magnetic anomaly, with a coincident Induced Polarization ("IP") anomaly at least 1.6 km long. The results of channel sampling in trenches along this trend have further verified the extent of the Mine Horizon. Trenches excavated and sampled up to 800 m along strike with the Akasaba Mine include:

  • Trench AKTR09-4, 400 m west of minesite, 1.79 g/t Au over 13.50 m
  • Trench AKTR09-2, 350 m west of minesite, 7.62 g/t Au over 0.5 m
  • Trench AKTR09-2, 350 m west of minesite, 1.21 g/t Au over 5.00 m and 0.74 g/t Au over 23.30 m
  • Trench AKTR09-3, 375 m west of minesite, 2.01 g/t Au over 4.50 m
  • Trench AKTR09-7, 800 m west of minesite, 0.36 g/t Au over 9.00 m

In addition, other similar coincident magnetic and IP anomalies occur elsewhere on the property, suggesting the potential for multiple horizons. Trench AKTR09-1, located 200 m northeast of the minesite, appears to be on such a horizon, recording 1.16 g/t Au over 10.50 m from similar sulfide-enriched volcanic rocks.

Eric Owens, President and CEO of Alexandria, said, "Akasaba continues to show a lot of promise for future development. This well mineralized historic deposit has considerable potential along strike and at depth as well as over multiple horizons."

This is just the second drill programme on the property, and it follows a smaller and successful initial round of drilling in the spring. The results from that first round of drilling showed the potential for growth of the gold- and copper-rich semi-massive sulfide. Holes drilled more than 100 m below previously known mineralization intersected 4.22 g/t over 10.35 m, including 24.50 g/t Au over 1.3 m (Press Release April 30, 2009), and separately, 2.77 g/t Au over 18.90 m, including 57.23 g/t over 0.5 m (Press Release May 26, 09).

The Company will complete 10-12 holes on the property for the purpose of better defining and enlarging the historical deposit, as well as testing some of the new targets identified during its summer field campaign. For further information, please visit www.azx.ca.

In other matters, the Company has filed its National Instrument 43-101 resource report entitled "NI 43-101 TECHNICAL REPORT ON THE ORENADA PROPERTY" on SEDAR.

The results presented in this press release are exploratory in nature and have been reviewed by the company's Qualified Persons, Eddy Canova, PGeo, and Dr. Eric Owens, PGeo. There is no Current Resource as defined by National Instrument 43-101 on the Akasaba Property, and there is no guarantee that an economic gold deposit exists. Further work by Alexandria and an Independent Qualified Person will be required to bring the data into compliance.

The sampling 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 to a maximum of 1.5 meters in length. The samples are recorded, bagged and sent to ALS Chemex Labs in Val-d'Or for preparation and 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.

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.

Contact Information

  • Alexandria Minerals Corporation
    Andreas Curkovic
    Investor Relations
    (416) 577-9927
    or
    Alexandria Minerals Corporation
    Eric Owens
    (416) 363-9372
    or
    Alexandria Minerals Corporation
    Matt Morrish
    (416) 363-9372
    info@azx.ca
    www.azx.ca